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small finance banking

WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 cr

Private equity firm WestBridge Capital divested on Wednesday a 1.7 per cent stake in the AU Small Finance Bank for Rs 845 crore through an open market transaction. WestBridge Capital, through its affiliate Westbridge AIF I, sold shares of the Jaipur-based AU Small Finance Bank through a bulk deal on the National Stock Exchange (NSE). As per data available, Westbridge AIF I offloaded 1.30 crore shares, amounting to a 1.75 per cent stake in AU Small Finance Bank. The shares were disposed of at an average price of Rs 650.08 apiece, taking the transaction value to Rs 845.10 crore. After the stake sale, the shareholding of WestBridge Capital in the AU Small Finance Bank has declined to 2.07 per cent from 3.82 per cent. Meanwhile, Goldman Sachs Investments Mauritius I picked up 43.34 lakh shares of the AU Small Finance Bank at an average price of Rs 650 per piece. This took the deal value to Rs 281.71 crore. Details of other buyers of the AU Small Finance Bank shares could not be ...

WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 cr
Updated On : 20 Jun 2024 | 7:09 AM IST

Capital SFB aims to comply with conversion norms in 12-18 months

Capital SFB is not yet eligible to apply for a conversion to a universal bank because of net non-performing ratio

Capital SFB aims to comply with conversion norms in 12-18 months
Updated On : 09 Jun 2024 | 8:28 PM IST

RBI monetary policy review: Bulk deposits limit for banks may be raised

The limit for bulk deposits was increased in 2019 for SCBs and SFBs as "single rupee term deposits of Rs 2 crore and above" from Rs 1 crore

RBI monetary policy review: Bulk deposits limit for banks may be raised
Updated On : 07 Jun 2024 | 11:03 PM IST

Why small finance banks are in no hurry to become universal banks

The fear of rejection is real. Many of the SFBs are listed on the exchanges. They are aware that no new universal bank licence has been granted in the last 10 years

Why small finance banks are in no hurry to become universal banks
Updated On : 03 Jun 2024 | 10:16 PM IST

Cosmos Co-operative Bank halts acquisitions; targets organic growth

So far, the bank has merged 18 small co-operative banks into itself

Cosmos Co-operative Bank halts acquisitions; targets organic growth
Updated On : 28 May 2024 | 10:29 PM IST

Have no immediate requirement to be a universal bank: Suryoday SFB MD & CEO

Ramachandran says it is at least two years before the lender considers becoming a universal bank

Have no immediate requirement to be a universal bank: Suryoday SFB MD & CEO
Updated On : 19 May 2024 | 10:07 PM IST

RBI approves appointment of Sanjeev Nautiyal as MD&CEO of Ujjivan SFB

Third CEO in five years; current CEO Davis to be relieved early

RBI approves appointment of Sanjeev Nautiyal as MD&CEO of Ujjivan SFB
Updated On : 04 May 2024 | 1:58 PM IST

AU Small Finance Bank stock rallies over 6% on universal banking hopes

The central bank has laid down qualitative criteria of a satisfactory five-year track record, which will be evaluated post-application made by SFBs

AU Small Finance Bank stock rallies over 6% on universal banking hopes
Updated On : 29 Apr 2024 | 10:45 PM IST

AU Small Finance Bank eligible for universal banking licence application

AU Small Finance Bank has recorded profits for the previous two fiscal years, and maintained gross and net non-performing assets below 3% and 1%, respectively, as mandated by the RBI

AU Small Finance Bank eligible for universal banking licence application
Updated On : 29 Apr 2024 | 12:12 PM IST

Street Signs: SFBs dive into universal banking waters, Sebi's blank canvas

SFBs will remain in focus in Monday's trade after the RBI issued guidelines for their conversion into universal banks

Street Signs: SFBs dive into universal banking waters, Sebi's blank canvas
Updated On : 28 Apr 2024 | 10:31 PM IST

AU Small Finance Bank's Q4 net profit dips by 13% to Rs 371 crore

The numbers are not strictly comparable as Fincare SFB was merged with AU SFB in the Jan-March quarter

AU Small Finance Bank's Q4 net profit dips by 13% to Rs 371 crore
Updated On : 24 Apr 2024 | 11:59 PM IST

Cautious approach: Small finance bank model in the slow lane, say experts

Unity Small Finance Bank was the last one to get a licence in the category in November 2021

Cautious approach: Small finance bank model in the slow lane, say experts
Updated On : 24 Apr 2024 | 12:08 AM IST

RBI rejects two more applications for setting up small finance banks

So far, the regulator has received 13 applications to set up banks under the guidelines for 'on tap' licensing of Universal Banks and Small Finance Banks

RBI rejects two more applications for setting up small finance banks
Updated On : 12 Apr 2024 | 8:20 PM IST

SFBs seek glide path from RBI to become universal banks citing eligibility

Lower priority sector lending norms would help in reducing cost

SFBs seek glide path from RBI to become universal banks citing eligibility
Updated On : 04 Apr 2024 | 12:40 AM IST

Sidbi plans to raise Rs 5,000 cr via rights issue next financial year

Small Industries Development Bank of India (SIDBI) on Tuesday said it plans to raise Rs 5,000 crore from rights issue next financial year to fund business growth. The refinancing entity for SME finance is witnessing a strong credit growth and to further grow the business, capital would be required, he said. The bank is looking to mobilise Rs 5,000 crore from rights issue in the next fiscal, SIDBI chairman and managing director S Ramann said on the sidelines of launch of a credit programme for Jan Aushadhi Kendras here. He said the government is the biggest shareholder and SIDBI has approached them requesting their participation in the rights issue, he said. Government of India holds a 20.85 per cent stake as of March 31, 2023. Besides this, State Bank of India owns 15.65 per cent, while the share of Life Insurance Corporation of India (LIC) stood at 13.33 per cent as of March 31, 2023. The rest is held by other Public Sector Banks (PSBs) and institutions. He said the loan book of

Sidbi plans to raise Rs 5,000 cr via rights issue next financial year
Updated On : 12 Mar 2024 | 2:21 PM IST

AU Small Finance Bank rules out further hike in interest rates on deposits

Fincare SFB is slated to merge with AU SFB from April 1, 2024

AU Small Finance Bank rules out further hike in interest rates on deposits
Updated On : 08 Mar 2024 | 9:36 PM IST

Fincare Small Finance Bank merger with AU SFB gets RBI approval

To function as combined entity from April 1, 2024

Fincare Small Finance Bank merger with AU SFB gets RBI approval
Updated On : 04 Mar 2024 | 9:38 PM IST

A rethink on priority sector norms for SFBs can be helpful: ASFBI CEO

The Report on Trend and Progress of Banking in India (FY23) notes that some microfinance institutions among SFBs earlier retained their business models

A rethink on priority sector norms for SFBs can be helpful: ASFBI CEO
Updated On : 25 Feb 2024 | 9:19 PM IST

Sidbi commits over Rs 100 cr for entrepreneurship projects in Nagaland

SIDBI has entered into an agreement with the Nagaland government, committing over Rs 100 crore for entrepreneurship projects in the northeastern state. Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India. It is under the jurisdiction of the Ministry of Finance. SIBDI Chief General Manager Subhransu S Acharya, during an event on Tuesday night, said it would fund four projects, including setting up of industrial infrastructure for MSMEs under cluster development fund and Swavalamban Connect Kendras (SCK) for all the 16 districts to boost the spirit of entrepreneurship. SIDBI also announced sports scholarships of Rs 5 lakh each for the training of five promising sportspersons. It would also provide seed funds to support the entrepreneurs in their startup journey. Nagaland Advisor for Industry and Commerce Hekani Jakhalu Kense and SIDBI Chairman and Managing

Sidbi commits over Rs 100 cr for entrepreneurship projects in Nagaland
Updated On : 14 Feb 2024 | 11:47 AM IST

Capital Small Finance Bank fixes Rs 445-468 as price band for its IPO

Capital Small Finance Bank on Friday fixed Rs 445-468 per share as the price band for its Rs 523-crore initial public offer opening on February 7. The issue consists of Rs 450 crore of fresh issue and the remaining Rs 73 crore of offer for sale through which promoters and external investors will dilute 5 per cent of their pre-issue holdings. The Jalandhar-based bank, which began operations in 2016 after converting itself from a local area bank, is 24 per cent owned by the promoter family led by Sarvjit Singh Sarma and his family, which will come down by to 18.4 per cent post issue, its managing director and chief executive Sarma told PTI here. Oman India Joint Investment Fund II is the single largest external shareholder in the bank, with a 9.5 per cent stake, which will sell its 20 per cent or 8,36,728 shares of its pre-issue holding. External investors own 40 per cent of the bank. American Capital, which owns 5 per cent, will divest 10 per cent or 1,51,153 equity shares, and Amic

Capital Small Finance Bank fixes Rs 445-468 as price band for its IPO
Updated On : 02 Feb 2024 | 8:40 PM IST