Get Bank IFSC & MICR codes here.
[ad_1]
750 kb 630 kb 752 kb 176 kb 171 kb 782 kb 159 kb 111 kb 831 kb 161 kb 1182 kb 144 kb 1072 kb 832 kb 483 kb 443 kb 604 kb 627 kb 254 kb 675 kb 721 kb 279 kb 1352 kb 807 kb 1926 kb[ad_2]
[ad_1]
Patanjali is the most trusted and popular Indian brand, with recent revenues of over 200 crores. Patanjali is effectively managed with the strategy of Aacharya Balkrishna and under the leadership of Ramdev Baba, and Patanjali ayurvedic medicine is a highly valued product in the FMCG industry.
The finest feature about this franchise is that it can be established in rural, semi-rural, or metropolitan areas. You may make a lot of money if you get a Patanjali franchise, and the brand has been giving large FMCG giants giving a tough time with its extensive range of products.
Subway offers a unique partnership model, with the majority of franchises being owned by individuals or families. Subway is the world’s largest sub-sandwich chain. Fred DeLucea founded Subway in 1965 to help pay for his undergraduate tuition. Subway’s objective is to give high-quality service to its consumers at reasonable pricing, which is something that almost every company adheres to nowadays.
Franchisees who join the company’s team have the chance to own a proven lucrative business with a cheap initial investment, uncomplicated operations, customizable floor plans, national and local assistance, national and regional advertising, and much more. The franchisee should have 170 square feet for the food court and 350 square feet for non-food court space, according to Subway. The franchise requires a minimum of eight people to run it.
DTDC India, which was created in 1990, is one of India’s most popular courier businesses, with the widest network of delivery destinations and a range of local and international services. DTDC has a one-of-a-kind franchise-based business concept that offers a variety of franchise options. The franchisee structure enables new businesses get off the ground with little money and helps DTDC earn revenue. With a year-on-year growth rate of more than 15%, DTDC has showed exceptional network expansion. Over half of the franchisees have been with DTDC for more than five years and have had consistent success.
The food product marketing organisation Gujarat Cooperative Milk Marketing Federation (GCMMF) owns the brand Amul, which offers a profitable business opportunity with optimum returns on investment. The Amul Model has aided India in becoming the world’s largest milk producer. Franchisees for the Milk brand include Outlets, Railway Parlors, and Kiosks. A franchise can generate revenue of roughly Rs 5 to 10 lakhs per month or earn margins of up to 20% on sale of a variety of products, depending on the shop location. Amul-branded outlets must be between 100 and 300 square feet in size and feature an air conditioning system.
Lenskart is one of India’s most rapidly expanding eyeglasses companies. It has an online and offline presence. Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi started Lenskart in 2010 as an online contact lens marketplace. The collection expanded to include eyeglasses and sunglasses in 2011. The brand didn’t stop there; in order to grow its retail footprint, it also opened offline outlets.
The current expansion strategy is to increase the number of offline locations from 330 to 500.
John Bissell launched FabIndia in 1960, and it has now become a household name. It is enjoyed by people of all ages. FabIndia has surpassed INR 1,000 crore in sales to become India’s largest retail garment brand, far outpacing competitors such as Zara and Levi’s India. The brand’s initial mission of appreciating and sharing Indian culture through clothes and other items has not changed. FabIndia has been continually adding new product categories.
EuroKids is one of India’s most well-known pre-school chains. It was formed in 2001 by Prajodh Rajan and Vikas Phadnis, and the success of EuroKids may be attributed to their ‘child first’ philosophy. EuroKids has grown from a publishing company to a full-fledged playschool chain with which parents across the country have placed their trust. The brand has built a fantastic name for itself as an ideal environment for growing young brains, with over 1000 pre-school centres in over 350 cities across India, Nepal, and Bangladesh. It plans to capitalise on this expansion by spending Rs 500 crores in approximately 2,000 additional schools in a variety of locales.
[ad_2]
[ad_1]
Karbon Card, a Bengaluru-based fintech specializing in corporate cards, said it would achieve an annualized Gross Transaction Value (GTV) of $300 million by the end of this year. In December, the company expects to have a 10x growth in its GTV at $25 million compared to the same period last year when Covid was at its peak.
“With our current growth rate (in terms of GTV), we could become one of the top 10 corporate card players (including banks) by Q1 of next year,” said Kartik Jain, Co-founder of Karbon Card.
Founded in early 2019, Karbon has onboarded 1,500 corporates and startups so far and would be doubling the number of clients by Q3 2022 .
The Y Combinator-backed fintech provides corporate credit cards to small businesses and startups. Its card replaces personal credit cards for use by employees of corporates – companies give these cards to their employees for a variety of services, including meeting expenses related to travel, out-of-pocket costs, in the form of financial rewards, salaries, and other corporate use-cases. From the corporate perspective, these cards allow them to track expenses on a real-time basis.
Jain said that Karbon is also looking to increase the number of lending partners to the company’s balance sheet (lending size) and thus achieve higher transaction levels.
“As a corporate card company offering cards to corporates, we want to be known as a ‘Bank for Corporates’, and also to gain the status of a Neo Bank, going forward. We want to expand our partnership with other lenders to cater to the planned products and increased usage on the cards.” Jain added.
[ad_2]
[ad_1]
Odisha-based Annapurna Finance on Thursday announced equity infusion of $20 million (about ₹150 crore) from DEG, a Germany-based development finance institution.
The investment by DEG would be used to further boost financial inclusion objectives, thereby increasing the number of women borrowers in rural India, the microlender said in a statement.
In March 2021, Annapurna Finance had raised $30 million (capital investment) from Nuveen Global Impact Fund, per the statement.
Also see: RBI tweak will lead to more NPAs for non-banking lenders: ICRA
Gobinda Chandra Pattanaik, Managing Director, Annapurna Finance, said, “DEG’s investment would only help us further, to meet our goal to provide easy credit access to unserved rural population in the country.”
Annapurna Finance had a gross loan portfolio of ₹5,128 crores as on September-end 2021, and its microfinance operations are widespread in 336 districts across 19 States, the NBFC-MFI (non-banking finance company–microfinance institution) said in a statement.
[ad_2]
[ad_1]
Odisha-based Annapurna Finance on Thursday announced equity infusion of $20 million (about ₹150 crore) from DEG, a Germany-based development finance institution.
The investment by DEG would be used to further boost financial inclusion objectives, thereby increasing the number of women borrowers in rural India, the microlender said in a statement.
In March 2021, Annapurna Finance had raised $30 million (capital investment) from Nuveen Global Impact Fund, per the statement.
Also see: RBI tweak will lead to more NPAs for non-banking lenders: ICRA
Gobinda Chandra Pattanaik, Managing Director, Annapurna Finance, said, “DEG’s investment would only help us further, to meet our goal to provide easy credit access to unserved rural population in the country.”
Annapurna Finance had a gross loan portfolio of ₹5,128 crores as on September-end 2021, and its microfinance operations are widespread in 336 districts across 19 States, the NBFC-MFI (non-banking finance company–microfinance institution) said in a statement.
[ad_2]
[ad_1]
As uncertainty over the proposed crypto regulation bill over banning private cryptos continues, the Blockchain and Crypto Assets Council (BACC), of Internet and Mobile Association of India said in a statement on Thursday supported the use of cryptocurrencies only as an asset.
It added, however, that a blanket ban on cryptocurrencies will encourage non-state players thereby leading to more unlawful usage of such currencies. “The Council has always argued in favour of prohibiting the usage of private cryptocurrencies as a currency in India by law since usage as currency is likely to interfere with monetary policy and fiscal controls. On the other hand, the Council has advocated their use only as an asset. The Council believes that a smartly regulated crypto assets business will protect investors, help monitor Indian buyers and sellers, lead to better taxation of the industry, and limit illegal usage of cryptos,” BACC said.
Also read: Crypto currencies recover, back in the green on Indian exchanges
BACC added it had listed several negative outcomes of a ban such as zero accountability and traceability of the origin and end usage of the cryptocurrencies; besides a complete evasion of taxes. A ban will also adversely impact retail investors.
“Crypto exchanges based in India offer an effective instrument of monitoring and are dedicated to creating an ecosystem that guarantees investor protection besides bringing both the investors and exchanges under proper tax laws. The Council believes that the efforts of the exchanges should be supported by a law that should enable them to provide safer services to investors and fair taxes to the government,” it said.
[ad_2]
[ad_1]
The Reserve Bank of India’s modified norms on non-performing asset (NPA) recognition and upgration will lead to a spike in the NPAs of non-banking financial companies (NBFCs), including housing finance companies (HFCs), in the near term, ICRA has cautioned.
The credit rating agency expected the stricter NPA recognition and upgradation requirement to push up the March 2022 NPAs of NBFCs and HFCs by 160-180 basis points (bps) and 60-80 bps, respectively, over the March 2021 level. One basis point is equal to one-hundredth of a percentage point.
ICRA observed that this will impact earnings over the next few quarters if the forward flows into the NPA category were not contained.
SBR framework: A brand new armour for NBFCs
“The increase in NPAs and corresponding increase in provisions as per IRAC (income recognition and asset classification), on account of the new RBI guidelines, is not expected to significantly impact earnings in the near term.
“However, it would be critical to contain the flow into the NPA category over the medium term,” the agency said in a report.
Internal controls
AM Karthik, Vice-President-Financial Sector Ratings, ICRA, said the increase in NPAs factors in the expected slippages from the restructured book, slippages from the 31- to 90-day category (Stage-2), and the delay in upgradation to the standard category.
He felt that entities would have to tighten their internal controls and augment their MIS for timely recognition and updation of collections, especially cash collections.
NBFC regulation needs to be strengthened
ICRA estimates the restructured books of NBFCs and HFCs to have increased to 4.1-4.4 per cent and 1.8-2.2 per cent, respectively, as of September 2021, vis-à-vis 2.2 per cent and 1.0 per cent, respectively, in March 2021.
The agency estimated the slippage from the NBFC restructured book to be higher, at 20-25 per cent vis-a-vis 3-5 per cent for HFC, considering the prolonged stress witnessed in key NBFC segments, namely vehicle, business loans and so on.
Arrears
Referring to the norm for the upgrade of an NPA to standard category only after all arrears are cleared, the agency said the movement to standard category for NBFC NPAs would be impacted as their target borrowers generally have a limited ability to clear all dues.
Until now, NBFCs have been upgrading an NPA account even with a partial payment of the outstanding overdues, as long as the total overdues on the reporting date were for less than 90 days.
Tightening processes
Provisions made by NBFCs under IndAS are generally higher than the IRAC norms, and the provisions were further augmented because of the pandemic.
Thus, no significant incremental impact is envisaged on the near-term profitability, ICRA said, adding that pressure would be felt over the medium term if the forward flows into the NPA category is not contained.
“Entities would have to tighten their internal processes to capture their collections, especially cash collections by branches, agents etc. It is estimated that 40-45 per cent of NBFC and 5-10 per cent of HFC collections are in cash,” the agency said.
[ad_2]
[ad_1]
More than 24-hours after a blood bath and almost a fourth of its value wiped out on the exchanges, cryptocurrencies are back in the game. Top tokens have recovered nearly 10 per cent or more from yesterday’s plunge of 15-20 per cent.
As of 1:30 pm, bitcoin was trading in green, up by 5.03 per cent. USDT or Tether’s price jumped by 3.68 per cent, Shiba Inu by 4.83 per cent and Ethereum by 3.32 per cent. Sandbox topped this list on WazirX which was up by 23.76 per cent.
Also read: Only a handful of cryptocurrencies that exist today likely to survive: Raghuram Rajan
The massive cryptocurrency crash on Indian exchanges on Wednesday was a result of a Lok Sabha notice released on Tuesday evening summarising bills to be discussed in the upcoming winter parliamentary session.
The description next to The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 read that the government was seeking to prohibit private cryptocurrencies while allowing certain exceptions to promote the underlying technology. This created confusion and unexpected panic sale among investors leading to temporary crashing of several exchange platforms.
[ad_2]
[ad_1]
The accused were identified as S.R. Alcobev Pvt. Ltd, New Industrial Estate, Jagatpur, Cuttack, its Managing Director Ranjan Kumar Padhi and Director Saina Kar; Naina Devi Suppliers Pvt. Ltd, Sainagoue Street, Kolkata, West Bengal (Corporate Guarantor), Chandraghanta Iron and Steel Traders Pvt. Ltd., Shyam Bazar Street, Kolkata, West Bengal (Corporate Guarantor), Brewforce Technologies, East Patel Nagar, New Delhi or Dehradun, Uttarakhand (Supplier) and a civil contractor named Sukanta Kumar Lenka, a resident of Cuttack.
According to the CBI, there is involvement of unknown public servants of Punjab National Bank, among others.
“The accused committed a fraud at Punjab National Bank, main branch, Buxi Bazar, Cuttack and Allahabad Bank, Bhubaneswar branch, in a matter of credit facilities or term loans to the tune of around Rs 73 crore (Rs 40 crore by PNB and Rs 33 crore by Indian Bank, formerly Allahabad Bank) during 2013,” the probe agency said in a statement.
After disbursal of the loan proceeds, the borrowers and guarantors allegedly violated the terms and conditions of the sanction and they neither procured the machineries nor deposited the instalments in time and the account turned into a non-performing asset (NPA).
It was further alleged that the accused, including promoters, directors, guarantors and suppliers, had misappropriated and diverted the loan proceeds with the ulterior motive to defraud the banks to the tune of nearly Rs 140.48 crore (principal amount plus interest as on September 30, 2021).
The CBI conducted searches at the premises of the accused situated at Cuttack (Odisha) and Dehradun (Uttarakhand).
“Further probe is on,” it added.
[ad_2]
[ad_1]
The brokerage has said in its research report that “CIL’s Q2FY22 EBITDA of INR39.1bn (down 2% QoQ) missed estimates. Key points: i) Higher sales to the power sector (up 13% YoY) resulted in lower realisation despite the average grade remaining unchanged at G-11. ii) E-auction premium to FSA sales was at 15% (Q1FY22: 13%). iii) Contractual expense was up 9.6% YoY at INR271/t, mainly due to higher diesel cost. iv) Overburden removal was at 271.03m3. v) Wage hike provisioning of INR3bn in Q2FY22. vi) Significant cash accretion due to working capital unlocking resulting in cash balance of INR283bn.”
Edelweiss Securities Ltd has also clarified that ” Going ahead, management expects: i) FY22 sales volume at 670-680mt; ii) e-auction volume flat YoY at ~94mt but at a higher premium; and iii) wage hike to be lower than last time as one-time gratuity adjustment (accounting for 20-25% of the hike last time) is unlikely to be there.”
The brokerage gas claimed that “On analyst call, management indicated dividend is more tax-efficient than buyback in their case. Cash balance was INR283bn (INR46/share) at Sep-21 end, and we expect earnings momentum to be higher in H2FY22 due to better e-auction premium (40-45%) and sales volume growth. Besides, an earnings-accretive FSA price hike (net of wage escalation) is likely to be positive. Hence, we expect dividend at INR18/share (FY21: INR16/share), implying an FY22E dividend yield of 12.6%.”
According to the brokerage’s call “Despite Q2FY22 results missing estimates, we are positive on CIL due to higher-than expected volume growth and e-auction premium prospects. Besides, cash accretion is likely to improve further tracking lower receivables, leading to a potential dividend yield of 12-13%. Retain ‘BUY’ with an unchanged TP of INR210 on 9x FY23E EPS.”
The stock has been picked from the brokerage report of Edelweiss Securities Limited. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.
[ad_2]