LIC Receives RBI Approval to Raise Stake in ICICI Bank to 9.99 Percent
The Reserve Bank of India (RBI) has granted approval to the Life Insurance Corporation of India (LIC) to increase its stake in ICICI Bank to 9.99%. This regulatory nod allows LIC to acquire additional shares or voting rights within a one-year window, reinforcing institutional participation in the private sector lender.
Piramal Finance Raises ₹3,850 Crore via QIP and Promoter Warrants to Fuel Retail Growth
Piramal Finance Limited has secured a total capital infusion of ₹3,850 crore through a combination of a Qualified Institutions Placement and a proposed preferential allotment to promoters. The capital raise is designed to strengthen the company's balance sheet and provide the necessary equity buffer to support its next phase of retail-led growth across India.
Karnataka Bank Launches Capital Gains Account Scheme to Facilitate Efficient Tax Planning
Karnataka Bank has officially launched the Capital Gains Account Scheme (CGAS) to help taxpayers manage and protect their capital gains while planning for eligible reinvestments. The scheme offers specialized savings and term deposit options, ensuring compliance with Income-tax Act provisions to secure tax benefits.
Lords Mark Industries Partners with ARKALL Holdings for ₹950 Cr Caribbean Expansion
Lords Mark Industries has entered into a strategic collaboration with ARKALL Holdings Limited to establish pathology labs and commercialise medical devices across the Caribbean. The partnership targets approximately $100 million in export revenue over the next five years through a phased rollout in 28 markets.
ICICI Bank Board Approves $5 Billion Offshore Borrowing Limit for Debt Issuance
The Board of Directors of ICICI Bank has approved a revised borrowing limit of up to USD 5.00 billion. The capital will be raised through the issuance of bonds, notes, or offshore Certificate of Deposits in international markets to strengthen the bank's liquidity profile and support global operations.
Paisalo Digital Signs ₹1,000 Crore Co-Lending Partnership with LoanKhata for MSME Growth
Paisalo Digital Limited has entered a Memorandum of Understanding with LoanKhata to establish a ₹1,000 Crore co-lending facility. This partnership aims to accelerate Paisalo's strategic roadmap of doubling its AUM and profitability by leveraging an extensive last-mile distribution network.
Bank of Baroda to Raise ₹6,000 Crore via AT1 and Tier II Bonds
Bank of Baroda’s Capital Raising Committee has approved the issuance of Additional Tier 1 (AT1) and Tier II bonds worth up to ₹6,000 crore. This capital infusion, set to occur in multiple tranches until March 2027, aims to strengthen the bank's capital base and support its long-term growth objectives.
Satin Finserv Mobilises ₹650 Crore via Debt and Equity to Fuel MSME Lending Growth
Satin Finserv Limited, a wholly owned subsidiary of Satin Creditcare Network Limited, successfully mobilized over ₹650 crore through a combination of debt and equity capital in YTD FY27. This capital infusion is designed to strengthen the subsidiary's balance sheet and support its expanding MSME lending operations across 14 states.
Karnataka Bank Launches AI-Powered KBL Finsurance Platform to Digitise Bancassurance
Karnataka Bank has introduced KBL Finsurance, a comprehensive digital portal aimed at automating the end-to-end insurance distribution process. Developed in collaboration with fintech firm SprintMoney, the platform integrates AI-driven CRM and real-time monitoring tools to enhance the bank's bancassurance efficiency.