Beena Parmar

Beena Parmar has been is a banking and finance journalist for over 10 years. Apart from BFSI, she covers the private equity and venture capital space. Beena loves to read about politics, society.

Articles by Beena Parmar

Unicorns witness meteoric rise in valuations

  • Many of these 33 unicorns, which have cumulatively raised about $9.3 billion to date, have also seen a surge in valuations
Some are sceptical of the valuations since most of these continue burning cash and are yet to turn profitable.(Reuters)
Some are sceptical of the valuations since most of these continue burning cash and are yet to turn profitable.(Reuters)
Published on Oct 14, 2021 04:37 AM IST
ByRanjani Raghavan, , Livemint, Mumbai

Ola Electric raises over $200 million

  • The electric scooter maker plans to use the capital to develop other EV platforms such as electric motorcycles, mass-market scooters and an electric car
Ola Electric, which was founded in 2017, was last valued at more than $1 billion when it raised $250 million from SoftBank in July 2019.(Bloomberg)
Ola Electric, which was founded in 2017, was last valued at more than $1 billion when it raised $250 million from SoftBank in July 2019.(Bloomberg)
Published on Oct 01, 2021 05:35 AM IST
By, Mumbai

HDFC Life buys Exide Life Insurance for 6,687 crore

The acquisition will help HDFC Life deepen its presence in south Indian cities
Of the total deal value, HDFC Life will pay <span class='webrupee'>₹</span>725.98 crore in cash and the rest by issuing 87 million shares at <span class='webrupee'>₹</span>685 apiece to Exide Industries.
Of the total deal value, HDFC Life will pay 725.98 crore in cash and the rest by issuing 87 million shares at 685 apiece to Exide Industries.
Published on Sep 04, 2021 04:54 AM IST
Livemint | By, New Delhi

Indian startups, investors press PM for direct overseas listing

The signatories called it the “single most significant big bang reform for the startup ecosystem”.
Prime Minister Narendra Modi.(ANI)
Prime Minister Narendra Modi.(ANI)
Published on Aug 07, 2021 05:16 AM IST
Livemint | ByRanjani Raghavan, , Mumbai

Kotak Special Fund readies for 700-cr deal

Kotak Special Situations Fund will pay lenders to take a majority stake in stressed HKR Roadways Ltd, a person with knowledge of the matter said.
Kotak Special Situations Fund is preparing to pay lenders to take a majority stake in stressed HKR Roadways Ltd.(Livemint)
Kotak Special Situations Fund is preparing to pay lenders to take a majority stake in stressed HKR Roadways Ltd.(Livemint)
Published on May 07, 2021 05:44 AM IST
By, Hindustan Times, Mumbai

Lending rate cuts spread to NBFCs; Indiabulls, HDFC, BoI slash rates

The interest rate loan war intensified on Tuesday, with HDFC Ltd, the biggest non-bank mortgage player in the country, on Tuesday citing lower borrowing costs to slash home loan rates, a day after two of its biggest competitors — SBI and ICICI Bank.
The interest rate loan war intensified on Tuesday, with HDFC Ltd, the biggest non-bank mortgage player in the country, on Tuesday citing lower borrowing costs to slash home loan rates,(BLOOMBERG NEWS)
The interest rate loan war intensified on Tuesday, with HDFC Ltd, the biggest non-bank mortgage player in the country, on Tuesday citing lower borrowing costs to slash home loan rates,(BLOOMBERG NEWS)
Updated on Jan 04, 2017 11:15 AM IST
Hindustan Times | By, Mumbai

More banks slash lending rates: ICICI, Kotak Mahindra, Dena Bank follow SBI

Two private sector banks slashed a key lending rate on Monday as a surge in deposits following the ban on high-value bank notes sparked a race among the country’s lenders to woo consumers with cheaper home and vehicle loans.
Prime Minister Narendra Modi is seen on the television inside a restaurant as he address the nation on December 31. Modi had asked banks to “keep the poor, the lower middle class, and the middle class at the focus of their activities” and to act with “public interest” in mind.(AFP)
Prime Minister Narendra Modi is seen on the television inside a restaurant as he address the nation on December 31. Modi had asked banks to “keep the poor, the lower middle class, and the middle class at the focus of their activities” and to act with “public interest” in mind.(AFP)
Updated on Jan 02, 2017 10:50 PM IST
Mumbai, Hindustan Times | By

After SBI, Kotak Mahindra becomes first pvt bank to cut rates

After State Bank of India and few other public sector banks, Kotak Mahindra Bank becomes the first private bank to cut lending rates by up to 0.45% in the new year.
After State Bank of India and few other public sector banks, Kotak Mahindra Bank becomes the first private bank to cut lending rates by up to 0.45% in the new year.(Arun Sharma/HT PHOTO)
After State Bank of India and few other public sector banks, Kotak Mahindra Bank becomes the first private bank to cut lending rates by up to 0.45% in the new year.(Arun Sharma/HT PHOTO)
Published on Jan 02, 2017 02:23 PM IST
Hindustan Times | By, Mumbai

What happens to your home loan after State Bank of India cut rates

State Bank of India, country’s largest bank will charge an interest rate of 8.65% on home loans up to Rs 75 lakh, while for women the interest rate would be 8.60%.
A screen displaying the State Bank of India (SBI) logo before the start of a news conference in Kolkata.(Reuters)
A screen displaying the State Bank of India (SBI) logo before the start of a news conference in Kolkata.(Reuters)
Updated on Jan 02, 2017 12:16 PM IST
Hindustan Times | By, Mumbai

Cheaper loans in store: SBI, Union Bank and IDBI slash lending rates

Country’s largest bank, State Bank of India reduced it’s loan rates sharply by 0.9 percentage points across all tenure loans. This is one of the steepest cut since the global crisis in 2008.
A man takes photo of his colleague with a mobile phone in front of a screen displaying the State Bank of India (SBI) logo before the start of a news conference in Kolkata.(Reuters file)
A man takes photo of his colleague with a mobile phone in front of a screen displaying the State Bank of India (SBI) logo before the start of a news conference in Kolkata.(Reuters file)
Updated on Jan 02, 2017 12:00 AM IST
Hindustan Times | ByBeena Parmar, New Delhi

RBI allows NRIs to exchange old Rs 500, Rs 1000 banknotes up to June 2017

Non-resident Indians (NRIs) can exchange old Rs 500 and Rs 1000 notes till June 30, 2017, the Reserve Bank of India said on Saturday.
People outside the Reserve Bank of India (RBI) to exchange their old high-denomination banknotes in New Delhi on December 30.(Reuters)
People outside the Reserve Bank of India (RBI) to exchange their old high-denomination banknotes in New Delhi on December 30.(Reuters)
Updated on Jan 01, 2017 07:39 PM IST
Mumbai, Hindustan Times | By

Demand has not gone away, people have just deferred discretionary spending: SBI chief Arundhati Bhattacharya

On the eve of the expiry of one of India’s most bold economic measure since 1991, the chairman of India’s largest commercial bank is confident that demonetisation would benefit. But she is candid enough to admit that the corporate loan book and SMEs are worrisome
SBI chairman Arundhati Bhattacharya at her office in Mumbai, India, on Thursday, December 29, 2016(Anshuman Poyrekar/HT)
SBI chairman Arundhati Bhattacharya at her office in Mumbai, India, on Thursday, December 29, 2016(Anshuman Poyrekar/HT)
Published on Dec 29, 2016 08:43 PM IST
Hindustan Times | ByBeena Parmar and Ramsurya Mamidenna

Benefits will outweigh short-term demonetisation pains, says SBI chairman

Demonetisation has hastened year-end exits by foreign investors, but in the long run, digital efficiency will replace the clumsy ‘cash and pay’ tradition, Arundhati Bhattacharya said
SBI chairman Arundhati Bhattacharya feels a cashless economy will usher in efficiencies(PTI/file)
SBI chairman Arundhati Bhattacharya feels a cashless economy will usher in efficiencies(PTI/file)
Published on Dec 29, 2016 06:12 PM IST
Hindustan Times | ByBeena Parmar and Ramsurya Mamidenna, Mumbai

No bad loans after March 2017 may be too tall a target

Banks are likely to miss the March 2017 deadline for cleaning up their balance sheets, given the slow progress on resolution of bad loans.
Chairman Kingfisher Airlines Vijay Mallya speaks at an event during the Civil Aviation Week - Airport & Airline 2007 Expo or AA 07, in New Delhi, India, Tuesday, March 27, 2007. The three day expo features equipment and services for airports and airlines, aiming to highlight the progress being made in the Indian civil aviation sector. (AP Photo/Gurinder Osan)(AP)
Chairman Kingfisher Airlines Vijay Mallya speaks at an event during the Civil Aviation Week - Airport & Airline 2007 Expo or AA 07, in New Delhi, India, Tuesday, March 27, 2007. The three day expo features equipment and services for airports and airlines, aiming to highlight the progress being made in the Indian civil aviation sector. (AP Photo/Gurinder Osan)(AP)
Updated on Dec 29, 2016 11:13 AM IST
Hindustan Times | By, Mumbai

Demonetisation impact: Demand for loans at 54-year low

Banks are likely to witness a weak third quarter due to subdued demand for home, vehicle and consumer loans, bringing loan growth to a 54-year low.
Banks are likely to witness a weak third quarter due to subdued demand for home, vehicle and consumer loans, bringing loan growth to a 54-year low.(AP)
Banks are likely to witness a weak third quarter due to subdued demand for home, vehicle and consumer loans, bringing loan growth to a 54-year low.(AP)
Updated on Dec 27, 2016 11:05 AM IST
Hindustan Times | By, Mumbai

‘Cash costly,allow banks to charge for cash transactions’

The country’s largest bank, State Bank of India, wants the government to allow banks to charge customers for cash transactions, said a senior executive.
SBI says handling cash is very costly.(HT Photo)
SBI says handling cash is very costly.(HT Photo)
Updated on Dec 26, 2016 10:34 AM IST
Hindustan Times | By, Mumbai

After Axis Bank, Kotak Mahindra under I-T scanner for suspicious accounts

After Axis Bank, Kotak Mahindra Bank came under the Income Tax (I-T) lens with two suspicious accounts reported on Friday. According to reports, fake accounts worth Rs 70 crore were found in their Kasturba Gandhi Marg branch in New Delhi. The accounts were in the name of Ramesh Chand and Raj Kumar.
Men stand in queue with old 500 Rs notes in front of the RBI office in Kolkata after demonetisation.(Subhankar Chakraborty/HT PHOTO)
Men stand in queue with old 500 Rs notes in front of the RBI office in Kolkata after demonetisation.(Subhankar Chakraborty/HT PHOTO)
Updated on Dec 23, 2016 02:46 PM IST
Hindustan Times | By, Mumbai

Digital push costly, banks to pay 800 cr to install 1m PoS devices

MDR is a commission that banks charge merchants for every transaction on its card machine. A bank typically earns an MDR of 0.75% for transactions up to 2,000 and 1% for those above 2,000.
MDR is a commission that banks charge merchants for every transaction on its card machine. A bank typically earns an MDR of 0.75% for transactions up to ₹2,000 and 1% for those above ₹2,000.
MDR is a commission that banks charge merchants for every transaction on its card machine. A bank typically earns an MDR of 0.75% for transactions up to ₹2,000 and 1% for those above ₹2,000.
Updated on Dec 23, 2016 11:05 AM IST
Hindustan Times | By, Mumbai

Demonetisation: RBI rule on deposits over Rs 5000 puts bankers in customers’ line of fire

The Reserve Bank of India’s latest restriction on deposits over Rs 5,000 in old currency notes has saddled bankers with more work, apart from also having to face irate customers asking them for explanations as to why they couldn’t come earlier.
The Reserve Bank of India’s latest restriction on deposits over Rs 5,000 in old currency notes has saddled bankers with more work, apart from also having to face irate customers asking them for explanations as to why they couldn’t come earlier.(Sushil Kumar/HT Photo)
The Reserve Bank of India’s latest restriction on deposits over Rs 5,000 in old currency notes has saddled bankers with more work, apart from also having to face irate customers asking them for explanations as to why they couldn’t come earlier.(Sushil Kumar/HT Photo)
Updated on Dec 21, 2016 12:50 PM IST
Hindustan Times | By, Mumbai

Feature phones set to get their own mobile banking platform

Employees are expected to see an average 10% increase in salary in 2017 -- lower than the 10.3% rise doled out this year. However, after taking into account the inflation effect, the hike would be a meagre 4.8%, according to the latest report by global consultancy Korn Ferry Hay Group.
Employees are expected to see an average 10% increase in salary in 2017 -- lower than the 10.3% rise doled out this year. However, after taking into account the inflation effect, the hike would be a meagre 4.8%, according to the latest report by global consultancy Korn Ferry Hay Group.
Employees are expected to see an average 10% increase in salary in 2017 -- lower than the 10.3% rise doled out this year. However, after taking into account the inflation effect, the hike would be a meagre 4.8%, according to the latest report by global consultancy Korn Ferry Hay Group.
Updated on Dec 09, 2016 12:54 PM IST
Hindustan Times | By, Mumbai

Will all the banned notes return to the system? Urjit Patel non-commital

RBI governor says benefits to accrue in long term, evades direct answer on quantum of money that will come back into the system
The Reserve Bank of India (RBI) Governor Urjit Patel attends a news conference after the bimonthly monetary policy review in Mumbai.(Reuters)
The Reserve Bank of India (RBI) Governor Urjit Patel attends a news conference after the bimonthly monetary policy review in Mumbai.(Reuters)
Updated on Dec 07, 2016 07:06 PM IST
Hindustan Times | By, Mumbai

Post-demonetisation, RBI likely to cut interest rates maximum by 0.50% today

The Reserve Bank of India will most likely cut key interest rates later today with economists betting between 0.25% to 0.50% as the quantum of reduction.
The Reserve Bank of India will most likely cut key interest rates later today with economists betting between 0.25% to 0.50% as the quantum of reduction.(PTI)
The Reserve Bank of India will most likely cut key interest rates later today with economists betting between 0.25% to 0.50% as the quantum of reduction.(PTI)
Updated on Dec 07, 2016 12:05 PM IST
Hindustan TImes | By, Mumbai

With credit demand down, banks may struggle to pass on any rate cut

Banks may be flush with cash after demonetisation pushed people to deposit old Rs 500 and Rs 1,000 notes into bank accounts, but it has also compounded problems. Banks, already operating on wafer-thin margins, are expected to take a hit on their earnings due to low demand, delaying their ability to pass on the rate cuts widely expected in RBI’s monetary policy on Wednesday.
Banks may be flush with cash after demonetisation pushed people to deposit old Rs 500 and Rs 1,000 notes into bank accounts, but it has also compounded problems. Banks, already operating on wafer-thin margins, are expected to take a hit on their earnings due to low demand, delaying their ability to pass on the rate cuts widely expected in RBI’s monetary policy on Wednesday.(Reuters)
Banks may be flush with cash after demonetisation pushed people to deposit old Rs 500 and Rs 1,000 notes into bank accounts, but it has also compounded problems. Banks, already operating on wafer-thin margins, are expected to take a hit on their earnings due to low demand, delaying their ability to pass on the rate cuts widely expected in RBI’s monetary policy on Wednesday.(Reuters)
Updated on Dec 07, 2016 10:56 AM IST
Hindustan Times | ByRamsurya Mamidenna and Beena Parmar, Mumbai

As govt’s cashless payment tool battles faults, e-wallets gain

Digital wallet companies, including Paytm, MobiKwik, Freecharge and Itzcash, have seen multifold growth in their transaction volumes as they cashed in on the acute shortage of physical currency, following the government’s demonetisation drive.
Digital wallet companies, including Paytm, MobiKwik, Freecharge and Itzcash, have seen multifold growth in their transaction volumes as they cashed in on the acute shortage of physical currency, following the government’s demonetisation drive.
Digital wallet companies, including Paytm, MobiKwik, Freecharge and Itzcash, have seen multifold growth in their transaction volumes as they cashed in on the acute shortage of physical currency, following the government’s demonetisation drive.
Updated on Dec 07, 2016 11:20 AM IST
Hindustan Times | By, Mumbai

Cash supply to banks up by 50% as RBI steps up printing of currency

A State Bank of India executive said they had seen a 50% increase in cash supply in the last three days, which coincides with payday that has brought back long queues at banks and ATMs.
People stand in line outside a bank to withdraw cash in New Delhi.(PTI)
People stand in line outside a bank to withdraw cash in New Delhi.(PTI)
Updated on Dec 01, 2016 06:18 PM IST
Hindustan Times | By, Mumbai

Utkarsh bank to offer higher rates to woo savings customers

Utkarsh Micro Finance Ltd, which got the RBI’s approval to set up a small finance bank on Monday, will offer higher savings rates from January 14, 2017, to attract customers and set up their deposit base.
Govind Singh, MD, Utkarsh Micro Finance Pvt Ltd.(Aniruddha Chowhdury/Mint)
Govind Singh, MD, Utkarsh Micro Finance Pvt Ltd.(Aniruddha Chowhdury/Mint)
Published on Dec 01, 2016 11:27 AM IST
Hindustan Times | By, Mumbai

IDFC ties up with Capital Float to lend to small firms

It will offer average loans of Rs 15-20 lakh at 18-20%.(Reuters)
It will offer average loans of Rs 15-20 lakh at 18-20%.(Reuters)
Published on Nov 29, 2016 01:12 PM IST
Hindustan Times | By, Mumbai

RBI move to hold on to bank deposits may hit interest rates

The Reserve Bank’s move on Saturday of retaining with it all cash deposits with banks made between September 16 and November 11 is likely to result in a marginal rise in costs for banks, as about 3.5 lakh crore of money will flow out to the RBI from the surge of deposits made in the wake of the November 8 demonetisation.
Passers by are reflected on the logo of the Reserve Bank of India (RBI) outside its headquarters in Mumbai.(AFP)
Passers by are reflected on the logo of the Reserve Bank of India (RBI) outside its headquarters in Mumbai.(AFP)
Updated on Nov 28, 2016 10:27 AM IST
Hindustan Times | By, Mumbai

RBI stipulates additional CRR to suck out surplus liquidity

Banks will have to park the entire incremental deposits they get from the money inflow in the form of deposits through deposit of old currency notes after the demonetisation move announcement.
A bank staff member hands Indian 500 rupee notes to a customer in Mumbai.(AFP Photo)
A bank staff member hands Indian 500 rupee notes to a customer in Mumbai.(AFP Photo)
Updated on Nov 26, 2016 09:33 PM IST
Hindustan Times | By, Mumbai

Lenders fear misuse of RBI’s relief measure for small borrowers

Banks, already reeling under the rising pile of non-performing assets, are worried that the RBI’s move to extend the repayment period for small borrowers in the wake of the demonetisation, could actually them to take a payment holiday.
Published on Nov 26, 2016 02:36 PM IST
Hindustan Times | By, Mumbai
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