Page 16 - Unit Trust News Today

If its plans fructify, NSDL will be second such entity to be listed after CDSL, which is now trading in NSE

The Rise and Rise of HDFC Bank

Mortgage-lending pioneer Deepak Parekh, 78, will ride into professional sunset with the satisfaction of having built a powerhouse that would be the fourth biggest bank in the world when Housing Development Finance Corp (HDFC) merges with the lender it spawned three decades ago.

Parekh famously left his Chase Manhattan Bank job in 1978, where he was earning twice the salary he would at HDFC. For Parekh, now 78, who joined HDFC as a 33-year-old and built it as Indias largest private sector housing finance company, it is the end of a journey. Here is a look at his journey.

“It is my time to hang my boots with both anticipation and hope for the future," Parekh wrote to HDFC shareholders for the last time as chairman. "While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity."

He has served on board of various companies including Siemens Ltd, DP World (UAE), Fairfax Financial Holdings Corporation (Canada) and Economic Zones World FZE (UAE). He is also on the board of National Investment and Infrastructure Fund.

Nearly a year after receiving their gold medals at a reallocation ceremony in Lausanne, Switzerland, Trinidad and Tobago’s 4x100M relay team from 2008 claim that the Government of the Republic of Tr

The General Manager (GM) of the Vanuatu National Provident Fund (VNPF), Parmod Achary, has resigned one-week after his guilty verdict was announced.

Four state-owned financial entities — Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda — that together own just over 45% of UTI Asset Management Company (AMC) are understood to be working on inviting formal bids for selling their stakes, top officials close to the development told ET.

State-owned financial entities PNB, LIC, SBI, and BoB are said to be seeking formal bids for the sale of their 45% stake in UTI Asset Management Company (AMC). The quartet had previously appointed merchant bankers to initiate a sale process but the relationship with the Tata Group reportedly broke down due to a large interest holder insisting on a formal bidding process. While the final value is yet to be determined, UTI AMC was worth INR88bn ($1.2bn) as of Wednesday, with AUM of INR2.39tn ($32....