CEO Financial News

As banks and non-banking financial companies become stringent in disbursing unsecured personal loans and credit card receivables after the Reserve Bank of India (RBI) increased the risk weights on these loans, borrowers should now keep the credit utilisation ratio (CUR) below 30%, experts say. Till now, loans were disbursed even at a CUR of 50%.

GrowXCD Finance has raised Rs 50 crore in a series A funding round from Lok Capital, of which the first tranche of Rs 30 crore has been closed. The Chennai-based firm, which focuses on micro, small and medium enterprises (MSME), plans to use the funds to set up its initial team, develop technologies and expand its footprint over the next 12-18 months.

Winpe ProClub, has partnered with Russell Reynolds Associates, to kick off Cohort IV, comprising 12 mentees from private equity, venture capital, startups, and related sectors. This is a curated mentorship programme spanning 12 months, dedicated to empowering mid-senior level women in the industry.

Elon Musk, UK Prime Minister Rishi Sunak said, "It doesn't matter whether you're Elon Musk or you're someone on the street who's shouting abuse at someone who happens to be walking past you, that's wrong in all its forms". In an interview with Bloomberg News, Sunak subtly slammed Musk's remark, unlike US President Joe Biden who accused the tech entrepreneur of amplifying anti-Jewish hatred on his X social media platform.

Facebook, Instagram and X — formerly known as Twitter — were popular with young Russians before the 2022 invasion of Ukraine, but have since been blocked in the country as part of a broad crackdown on independent media and other forms of critical speech. They are now only accessible via VPN.

Sebi) decision to create a regulatory framework for the facilitation of small and medium real estate investment trusts (SM REITs) is expected to boost participation of retail investors, institutionalise the segment, and encourage greater capital influx from both domestic and offshore investors. The establishment of regulation is poised to bolster investor confidence, expanding acceptance for the burgeoning asset class. This initiative is anticipated to provide crucial support to realty developers, offering an additional avenue to monetize assets and infuse much-needed liquidity into the sector. «With the approval of Micro-REIT guidelines, finally we will soon have a new asset class available to investors to provide secured and stable returns even in a small real estate asset as low as Rs 50 crore,» said Anuranjan Mohnot, MD, Lumos Alternate Investment Advisors. According to him, the new regulation has provided more clarity on the regulatory framework for raising money from the public at large outside Alternate Investment Fund (AIF) with due accountability and skin of the investment manager in the entire scheme. While the finer details are awaited, checks and balances covered in the draft paper released by the regulator in May is likely to make way in the regulations. «SEBI's move is a strong testament to the trust of the regulator on this new-age investment avenue and it further reinforces our belief in the model.

SBI) managing director Diwakar Gupta is set to take charge as the chairman of the government-backed bad loan aggregator National Asset Reconstruction (NARCL), after the Reserve Bank of India (RBI) approved his nomination late last week, said three people aware of the development. Gupta, who is the chairman of the bad bank's agent, India Debt Resolution (IDRCL), will resign from the job to take charge at NARCL in the first week of December, the people said. «The RBI has given its approval a couple of days ago, clearing the decks for Gupta to take charge.

Air India is in talks with aerospace majors, including L3Harris and Airbus, as potential partners for its big crew training facility and will be disclosing more details in January, CEO and MD Campbell Wilson said in a recent interview. People in the know said the companies will likely be making strategic investments in the $200-million facility. «We are partnering with a couple of OEMs (original equipment manufacturers) to set up simulator training centres: Airbus, Boeing L3Harris. We will be talking a little more about that in January,» said Wilson. He didn't elaborate on the nature of the partnership of investment from partners. L3Harris, formed in 2019 by the merger of American companies L3 Technologies and Harris Corp, has business interests in segments including aerospace communications, integrated mission systems, space and airborne systems. The training centre would be critical for training pilots to fly the large number of planes the airline will receive over the next five years, starting December.

Council of Economic Advisers Chair Jared Bernstein tells ‘FOX News Sunday’ that ‘real wages’ are rising and the job market is ‘as tight as it’s ever been.’ 

ERShares CEO Joel Shulman joins ‘Mornings with Maria’ with his market outlook ahead of next week’s earnings.

Russian Ministry of Interior, saying, "Andy Mark Stone is wanted under an article of the Russian Criminal Code." "The database does not indicate the specific article for the search. It follows from the file in the Ministry of Interior’s database, Stone was repeatedly placed on the wanted list," the report added. In March 2022 the Russian investigative committee said it had opened a criminal investigation against the "illegal actions of Meta's employees".

Vedanta finance chief Sonal Shrivastava quits, Ajay Goel of Byju's rejoins “It’s the continuation of a trend of rising quit rates that began more than a decade ago. Five main factors are at play in this trend: retirement, relocation, reconsideration, reshuffling, and reluctance," contends a Harvard Business Review article written in March 2022.

By Navkiran Singh

The Securities and Exchange Board of India (SEBI), during its board meeting on Saturday, made several decisions, including those related to fractional ownership, with the overarching goal of protecting the interests of investors.

₹2.59 lakh crore in the five recently concluded mainboard initial public offerings (IPOs). The week-long bidding frenzy gripped investors as the five companies -Tata Technologies Ltd., Gandhar Oil Refineries Ltd., Fedbank Financial Services Ltd., Flair Writing Industries Ltd, and Indian Renewable Energy Development Agency (IREDA) Ltd sustained the IPO pulse in India's primary markets. Read more The Indian civil aviation regulator Directorate General of Civil Aviation has issued an advisory to Indian airlines on Global Navigation Satellite System (GNSS) interference in airspace.

Sam Altman was finally reinstated as the CEO of OpenAI while the board that removed him was all but let go with the exception of Quora CEO Adam D'Angelo. In a post on X (formerly Twitter), OpenAI wrote, “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D'Angelo. We are collaborating to figure out the details.

As many as 110 managing directors or chief executives who were also on the boards of NSE-listed companies quit in the first 10 months of 2023, according to data compiled for ET by primeinfobase.com.

Sam Altman's return. Book your ride now." The intriguing post has garnered attention for its witty take on the swift nature of commuting in Bengaluru. Sajetan took to the platform to share his experience, tagging both Nammayatri and @peakbengaluru, with the caption, "And this is my peak Bengaluru moment." Bengaluru, often referred to as the Silicon Valley of India, is renowned for its tech-savvy population and the rapid development of its transportation infrastructure.

IPO investors would have lost Rs 1,300 crore as interest, says Zerodha Founder and CEO Nithin Kamath. «After a long time, we have had massive activity in the IPO market, with Rs 2.6 lakh crore blocked in bank accounts for IPOs worth Rs 7,600 crore. If this was 2003, it would take 16 working days (or ~1 month), and the entire money would have moved to investment bankers and cost investors (an interest forego) at least 0.5% (assuming 6% pa) or Rs 1300 crores,» Kamath tweeted. As the regulatory regime evolved with time, the T+16 timeline was reduced to T+12, T+6 and then to T+3. «Now, the money never leaves the bank account until allotment.

Ayodhya will soon become the first Vedic sustainable city powered by artificial intelligence, according to a Times of India report. The Ayodhya Development Authority has inked a Memorandum of Understanding (MoU) with a Delhi-based firm, Arahas Technologies Pvt Ltd, to establish a Vedic sustainable city index platform. The platform's primary objective is to facilitate decision-making for the implementation of sustainable practices, addressing the burgeoning needs of the local population.

Stock market vs mutual funds: In the name of diversification, a stock market investor end up adding huge number of stocks in one's equity portfolio, which more look like a mini mutual fund instead of a stock portfolio. So, it is very important for an investor to keep limited number of stocks in one's portfolio and gain subastantially with rise in price of portfolio stocks. According to investment experts, one should have fair allocation of amount against each stocks while making one's stock portfolio.