Gopika Gopakumar

Mumbai

Deputy Editor at Mint

Journalist @Livemint. Ex- CNBC, ET Now. Writes on banking & finance. Views are personal.

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Articles

HT Syndication: Gensol won many PSU contracts. Here's what happens to them

1 day ago | htsyndication.com | Rituraj Baruah |Gopika Gopakumar

New Delhi, April 23 -- The Centre is reviewing all green energy projects awarded to embattled Gensol Engineering Pvt. Ltd to ensure their timely completion, two people close to the matter said, even if it requires rebidding some of the contracts. The Centre's concerns arise from the fact that a significant share of Gensol's Rs.7,000-crore order book comes from state-run firms. NTPC Ltd, Damodar Valley Corp.
Gensol won many PSU contracts. Here's what happens to them

1 day ago | livemint.com | Rituraj Baruah |Gopika Gopakumar

The Centre's concerns arise from the fact that a significant share of Gensol's ₹7,000-crore order book comes from state-run firms. NTPC Ltd, Damodar Valley Corp. Ltd (DVC) and The Singareni Collieries Co. Ltd have placed large orders with the company led by the Jaggi brothers, accused of fund diversion and forgery by the market regulator. The orders pertain to solar engineering, procurement and construction (EPC) as well as battery energy storage systems (BESS).
Gensol won many PSU contracts. Here's what happens to them

1 day ago | flipboard.com | Rituraj Baruah |Gopika Gopakumar

3 hours agoIn India, you can face criminal charges for tethering an animal on the street, flying a kite in a manner that causes alarm, skipping a school attendance order or handing a feeding bottle to a mother who can't breastfeed. Of the 882 federal laws on the books, 370 contain criminal provisions - …
HT Syndication: How did Gensol's lenders miss a Rs.262-crore gap for more than a year?

2 days ago | htsyndication.com | Nehal Chaliawala |Gopika Gopakumar |Rituraj Baruah

New Delhi, April 22 -- Power Finance Corp. Ltd (PFC) is exploring all options including moving the company law court to recover loans to Gensol Engineering Pvt. Ltd, even as questions arise regarding how lenders remained unaware of the fund diversion spotted by the market regulator.
How did Gensol's lenders miss a ₹262-crore gap for more than a year?

2 days ago | livemint.com | Nehal Chaliawala |Gopika Gopakumar |Rituraj Baruah

Companies Summary Gensol's lenders did not spot the discrepancy earlier, despite the company buying and hypothecating fewer cars than it had borrowed for. The gap was not flagged even a year after lenders transferred the last loan instalment to the company. This is a Mint Premium article gifted to you. Subscribe to enjoy similar stories. Power Finance Corp.
Yes Bank targets lower cost of funds to lift profitability

5 days ago | livemint.com | Gopika Gopakumar

Mumbai: Yes Bank Ltd has lowered interest rates on savings accounts by up to 4%, joining the bandwagon of private sector lenders aiming to rein in deposit costs and bolster margins. The move, announced during the bank’s earnings call on Saturday, is part of a wider effort to improve profitability while maintaining a healthy CASA (current account and savings account) ratio.
HT Syndication: Yes Bank targets lower cost of funds to lift profitability

5 days ago | htsyndication.com | Gopika Gopakumar

Mumbai, April 19 -- Yes Bank Ltd has lowered interest rates on savings accounts by up to 4%, joining the bandwagon of private sector lenders aiming to rein in deposit costs and bolster margins. The move, announced during the bank's earnings call on Saturday, is part of a wider effort to improve profitability while maintaining a healthy CASA (current account and savings account) ratio.
IndusInd Bank elevates Santosh Kumar as deputy CFO

1 week ago | livemint.com | Gopika Gopakumar

The lender, grappling with the fallout of accounting discrepancies in its derivatives portfolio, appoints a deputy CFO ahead of its Q4 results. IndusInd Bank Ltd has elevated Santosh Kumar as deputy chief financial officer (CFO) ahead of its fourth-quarter results. Kumar will replace interim CFO Arun Khurana, who took charge in January this year. Khurana, who is the head of treasury operations, held the additional responsibility of CFO.
Muthoot-owned Belstar Microfinance enters gold loan biz to diversify portfolio

1 week ago | livemint.com | Gopika Gopakumar

"We are looking to diversify the portfolio of microfinance business up to RBI permitted limit of 25% of the total AUM (assets under management)," said George Muthoot, managing director, Muthoot Finance. The Chennai-based microfinance institution (MFI), with an assets under management of ₹8,703 crore, had posted a net profit of ₹24 crore at the end of December 2024, compared to ₹1,003 crore during the corresponding period a year ago.
HT Syndication: IndusInd Bank elevates Santosh Kumar as deputy CFO

1 week ago | htsyndication.com | Gopika Gopakumar

New Delhi, April 17 -- IndusInd Bank Ltd has elevated Santosh Kumar as deputy chief financial officer (CFO) ahead of its fourth-quarter results. Kumar will replace interim CFO Arun Khurana, who took charge in January this year. Khurana, who is the head of treasury operations, held the additional responsibility of CFO. Also Read | IndusInd Bank case: Who is India's real lender of last resort?