Industry
ICICI Bank Ltd. Funds Increased as World Asset Management Inc. and Other Hedge Funds Added Stakes
World Asset Management Inc increased its stakes in ICICI Bank Ltd thus increasing the bank’s fund. The bank will now have sufficient funds to lend to eligible borrowers who want to have their own business and houses.
India's Former Famous Smartphone, Micromax Now Scrabbles
Micromax has been the popular smartphone company in India but with the introduction of other cheaper smartphones from other companies, Micromax is now struggling to keep pace with its competitors. It is now seeking partnership for expansion to produce television and tablets outside its home country.
LIC invests ₹2,750 crore in shares of nine state-owned banks
Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
China's banking regulator warns of risks from overcapacity, seeks limits on lending
China Banking Regulatory Commission (CBRC) has warned of risks from industrial overcapacity. CBRC has advised commercial banks and financial institutions to keep limits on lending exposure as it sees a need for setting up investment pilot projects and asset securitization to enhance cash flows.