Financial Services
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Business
New Partnership: Shriram General Insurance Teams Up with Muthoot for Digital Policy Sales
Shriram General Insurance has partnered with Muthoot Securities Ltd, the wealth management arm of The Muthoot Group, to offer its insurance products digitally, the company announced on Tuesday. Through this collaboration, customers of Muthoot Securities Ltd will have access to Shriram General Insurance’s range of policies via digital channels. During a recent event, Shriram General Insurance’s Executive Director and Chief…
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Business
Vivek Bansal and Sunil Daga to Launch MSME-Focused NBFC, Saarathi Finance
Vivek Bansal, Group CFO at InCred, and Sunil Daga, President at Kotak Mahindra Bank, are set to launch Saarathi Finance, an MSME-focused NBFC, after completing their notice periods. Saarathi Finance, registered in August and based in Mumbai, has applied for an NBFC license from the RBI and is in talks to raise Rs 600 crore in equity, aiming for a…
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Business
Edelweiss Founders Divest Stake in Nuvama Wealth to Meet Regulatory Requirements
Edelweiss Financial Services Ltd founders Rashesh Shah and Venkatchalam Ramaswamy have sold part of their stake in Nuvama Wealth Management to meet regulatory minimum public shareholding requirements, according to an exchange filing. While the exact amount and price of the shares sold were not specified, Shah held a 4% stake, and Ramaswamy owned 1.79% as of the June quarter. The…
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Business
Finance Ministry Focuses on Streamlining Debt Recovery Tribunals
A high-level meeting chaired by Vivek Joshi, Secretary of the Finance Ministry’s Department of Financial Services, aimed to expedite debt recovery and enhance efficiency in debt recovery tribunals (DRTs). Attendees included Chairpersons of Debt Recovery Appellate Tribunals (DRATs), Presiding Officers of DRTs, senior officers from Public and Private Sector Banks, the CEO of the Indian Bank Association (IBA), and officials…
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