JAIRAM SRIDHARAN
NBFCs eye rate hikes, higher fees to offset insurance income hit
Non-bank lenders and housing finance companies are expected to raise lending rates in response to proposed regulatory changes. This adjustment aims to offset potential income losses from caps on insurance distribution. Companies such as Bajaj Housing Finance and Home First Finance are considering changing their product mix and increasing fees. The Insurance Regulatory and Development Authority of India has proposed stringent commission cuts on credit-linked insurance products.
India's glittering gold loan sector risks sliding into a dark zone
The gold loan market in India is on a rapid growth trajectory, fueled by true demand alongside possible financial distress among borrowers. According to the Reserve Bank of India, there's significant annual growth in gold loans issued by banks and NBFCs. Heightened competition might bring challenges in assessing borrower viability and repayment options. While regulatory changes aim to create a stable environment, they could introduce operational hurdles for lenders.
Piramal Finance Q2 net profit soars 67% to Rs 545 crore
Piramal Finance’s assets under management grew 24% to Rs 1.13 lakh crore, led by a 30% rise in retail AUM. Net interest income increased 35%, while its net interest margin expanded 35 basis points to 6.5%.
Piramal Finance AUM touches Rs 1 lakh crore; acquisitions on radar: CEO
Piramal Finance has crossed Rs 1 lakh crore in assets under management. The company plans to acquire a microfinance institution to boost its next phase of growth. Piramal Finance aims to increase its assets under management to Rs 1.5 lakh crore by March 2028. The company is also exploring opportunities in gold lending.
Piramal Enterprises Q1 Net Dips 64% to ₹181 cr
Piramal Enterprises experienced a 64% drop in its June quarter net profit, down to ₹181 crore from ₹509 crore a year earlier due to a prior one-off benefit. Core net interest income increased by 18% to ₹807 crore, although the net interest margin shrank. CEO Jairam Sridharan remains confident about meeting the FY25 target.
Piramal Finance aims at ‘Budget Bharat’ to expand
DHFL is repositioning itself as a lender for retail with a focus on budget Bharat. Jairam Sridharan, MD of DHFL, said that the integration with Dhfl's business is complete with core IT systems being the last block. He said that postmerger the company has fostered a new culture of a combination of a digital and physical strategy and an informal work environment where executives shed suits for tshirts.
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Piramal Capital eyes Rs 1 lakh crore retail loan book
The microfinance book which the company started last September forms 3 per cent of the loan book and the recently launched personal loans is about 0.2 per cent, the company's Managing Director Jairam Sridharan told PTI on Wednesday.
Piramal Capital bets big on developer financing loans
"We are consolidating our development finance book, but we still like the business; it is materially a sound business," said Jairam Sridharan, managing director, Piramal Capital and Housing Finance. "The fact that banks have got serious limitations in terms of how to lend to real estate is well known. So, where will the funding come from? We want to be among those providers."
Not all CEOs believe in being 'energiser bunnies'! This MD feels too many emails, calls overburden bosses
Jairam Sridharan from Piramal Capital shares his insights on work-life balance.
Piramal Retail CEO gives a peek into the company's new finance plan for India's budget customers
"Now we've got to watch the situation carefully. If these disruptions last only a few weeks, then we will be back to the normalcy quickly. But if there are strict lockdowns for extended periods, then it can really peg us back."
Piramal Capital goes all out on retail
The company which is in the process of acquiring Dewan Housing Finance has already inducted two technology platforms into its system that allow it to crunch credit data in-house, the chief executive of Piramal’s retail finance business, Jairam Sridharan, said.
Piramal Housing to extend loans to low-income groups across the country
Piramal has launched used car financing in partnership with Cars24, it has also tied up with Zest for unsecured digital lending, it is also offering small business loans, loans against property besides home loans as part of its retail push.
Two senior executives quit Axis Bank for Piramal NBFC
“The Piramal venture is a tech-based multi-product retail lending business... The idea is to build a Bajaj Finance-like franchise but with a diversified product suite,” said a second person cited above.
Axis Bank appoints Puneet Sharma as CFO
Sharma replaces Jairam Sridharan, who has resigned as the group executive and CFO of the bank, with effect from the close of business hours on March 5.
Former Axis executive appointed Piramal’s consumer finance business CEO
Earlier, he was the head of the retail lending function where he could help in expanding the retail book 6 times in 5 years.
Axis Bank CFO Jairam Sridharan resigns
The private sector bank said Sridharan would like to pursue other career opportunities.
Believe company will extract value from FreeCharge transaction: Axis Bank
In an exclusive chat with ET Now, Axis Bank's CFO Jairam Sridharan and ED Rajiv Anand said that FreeCharge had a very large customer base that in a short period of time.
We would let our current businesses grow before venturing out for new ones: Jairam Sridharan, CFO, Axis Bank
We are in an environment in which new corporate capex demand is actually not coming through and the only corporate credit growth to have is going to be through refinancing of existing debt, he said.
There is a big possibility of finding better structuring solutions: Jairam Sridharan, CFO, Axis Bank
The operating environment in the steel sector has improved over the last few quarters and that has helped us significantly: Jairam Sridharan, CFO, Axis Bank
Has the tide finally turned for Axis Bank?
While the stock may react positively to the March quarter numbers, a meaningful re-rating may depend on improvement in business performance parameters.
Expecting credit cost for next FY to be around 125 bps: Jairam Sridharan, Axis Bank
"The idea of a watch list is that there has been a lot of speculation that has been going on in the market in the corporate lending sector."
Axis Bank eyes 50,000 NFC-powered point of sales machines by 2015-end
Jairam Sridharan said the bank has already installed the technology in 100 machines and will be scaling it up to 20,000 in the next two months.
Axis Bank cuts interest rates on loans for affordable housing
Axis Bank has a home loan portfolio of Rs 48,000 crore and loans worth Rs 24,000 crore are offered for affordable housing projects.
Axis Bank offers 20-year fixed home loan rate of 10.4 per cent
"It is a question of principles, whether to bear the interest rate risks as an institution or pass it on to the customer. We felt we should give the customer a choice," Sridharan said.
Axis Bank plans festive offers on auto loans, credit cards
Axis Bank, country's third largest private lender, today said it will be announcing festive season offers on its auto loans.
Axis Bank plans festive offers on auto loans, credit cards
Banks generally witness a higher pick up from the retail front between September and December, due to a slew of festivities.
See latent demand for 1.5 cr homes in low income segment: Jairam Sridharan, Axis Bank
Our banks and financial institutions are offering loan product to consumers who earn more than Rs 25,000 a month.
Axis Bank aims Rs 50,000 crore home loan portfolio by FY15-end
Axis Bank is targeting a 30% growth in its home loans every year over the next two years to take the portfolio to Rs 50,000 crore by end of FY15.
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