Industry News

Citigroup senior executive Madhur Deora as chief financial officer and senior vice president of Paytm. Deora will also be responsible for building and managing Paytm's newly formed financial services business. Mint reported in August that Paytm was is in advanced talks to hire Deora as its CFO."/>
Paytm appoints Madhur Deora chief financial officer [Mint, New Delhi]
ICICI Bank Ltd announced a 5 bps cut in its one-year marginal cost of funding-based lending rate to 9.05% soon after the policy decision. On Wednesday, Indian Overseas Bank and Punjab& Sind Bank also announced a 5 bps cut in their MCLR."/>
Day after RBI policy, some banks reduce lending rates [Mint, New Delhi]
Yes Bank Ltd and its investment bankers over its abortive $1 billion fund-raising effort last month, according to two people with direct knowledge of the development. Initial investigations by the Securities and Exchange Board of India found that Yes Bank had violated key norms of the listing obligations and disclosure rules relating to..."/>
Sebi's initial probe finds Yes Bank violated norms [Mint, New Delhi]
One policy, two verdicts [Mint, New Delhi]
Muthoot Finance, allowing the latter's customers to pay monthly instalments over a digital platform. This partnership will enable Muthoot Finance to streamline its loan collection process and also help the company guard against potential revenue leakage threats. "We are confident that our alliance with Muthoot Finance will..."/>
BRIEF: Muthoot Finance partners with TechProcess for digital payments [Mint, New Delhi]
Hilton Worldwide Holdings Inc.. Located in north Bengaluru, the project is part of its mixed used development--Embassy Manyata Business Park--which has around 12 million sq. ft of office space. The hotel would comprise two properties to be branded Hilton Hotels& Resorts and Hilton Garden Inn."/>
Embassy Group to invest Rs650 crore to develop 560-room hotel in Bengaluru [Mint, New Delhi]
Crisil Research said in a statement, citing numbers released by the Association of Mutual Funds in India. The industry gained a record Rs.1.70 trillion, or 11.78%, during the quarter, led by a rise in assets of equity and short-maturity debt funds. Of the 43 fund houses, including infrastructure debt funds, which..."/>
Mutual funds average AUMs hit record high in September quarter [Mint, New Delhi]
Teva Pharmaceutical Industries Ltd for an enterprise value of approximately £600 million in an all-cash transaction. The transaction is expected to be completed in the next three months, Ahmedabad-based Intas said in a statement on Wednesday. The acquisition will expand Intas's UK manufacturing presence with the addition of the Barnstaple site in..."/>
Intas Pharma to buy Teva's UK, Ireland generics businesses [Mint, New Delhi]
Sears may file for bankruptcy and close Kmart. Sears stock has plunged nearly 40 percent this year, and retail analysts have warned the department store chain may file for Chapter 11 in 2017 or 2018.. The forecast has grown more dire after ratings agency Fitch named Sears as a retailer that could soon default on its debt."/>
Is Kmart closing? Here's what the CEO said [The Patriot-News, Harrisburg, Pa.]
KeyCorp, is set to begin converting customer accounts in Western Pennsylvania to KeyCorp's systems. The process is scheduled to conclude Tuesday morning with the unveiling of KeyBank's signs atop some 60 former First Niagara branches in the region, KeyCorp announced today."/>
First Niagara making switch to KeyBank this weekend [Pittsburgh Post-Gazette]
MetLife's Leaders Conference level of recognition, one of the company's highest levels of sales achievement. The honor achieved by McNichol is given annually to a select set of top financial services representatives across the country who demonstrates exceptional standards of personal integrity, professionalism and customer service. McNichol is a financial adviser with NSC Financial, a member of the..."/>
BRIEF: McNichol earns leaders conference level of recognition [The Star, Shelby, N.C.]

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