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December 8th’ 2016: Paytm launches new payment method for users without Internet

Paytm has announced a toll-free number 1800-1800-1234 to enable consumers and merchants without an internet connection to pay and receive money

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December 8th’ 2016: ‘Demonetisation drive is a good development for payments banks’

‘Demonetisation drive is a good development for payments banks’

Already seen a spike in digital transactions with wallet players gaining ground in the last few weeks, says Fino Paytech MD

How will the recent demonetisation announcement impact your payments bank plans?

The government’s demonetisation drive is a good development for payments banks as it pushes digitisation. We have already seen the spike in digital transactions with wallet players gaining ground in the last few weeks. Lack of currency led to many people moving to digital transactions. It remains to be seen how many will continue in this digital journey once currency becomes available post-December 30.

The next five to six months would be interesting as there is a need to accelerate our digital footprint as we can see new entities embracing digital payments, such as salaries for workers by SMEs and MSMEs (micro, small and medium enterprises). Even if there is a moderate impact of digitisation in rural areas, it will be a game changer.

How soon do you think you will be able to launch the payments bank and with how many branches initially?

There is a need to improve infrastructure in terms of awareness and training among customers as well as the bank staff, availability of right devices to facilitate digital banking/payment transactions and willingness of people to move into the digital ecosystem.

If all this is in place, then execution will be fast and easy. Regarding our launch plans, we are still awaiting a few approvals, after which we will apply for final licence, which could be around December 2016. After receiving the licence, we will launch in two to three months. Geography-wise our focus will be both urban and rural areas across Maharashtra, UP, Bihar and MP.

How many branches or kiosks are you planning to have in the first year of operations?

We will have 400 payments bank branches spread across urban and rural areas, along with 30,000 to 40,000 transaction points that facilitate banking access. We will have a mix of physical and digital strategy in servicing our customers.

How is Fino planning to generate revenues from this channel given the fact that payments banks are not allowed to lend? What are some of the possible revenue channels?

Payments banks will largely have three avenues to operate and generate revenues: remittances/merchant paybacks; customer deposits (government securities give 7 per cent return and with bank rates to customers at 4 per cent, payments bank can make at least 3 per cent); and through cross-selling third-party products, such as insurance, bill payments, recharges and offering lending services on behalf of banks.

There are reports that your deposit rates will be as high as 14 per cent. Is this sustainable? How are you planning to take deposits at such high interest rates at a time when big banks are currently not able to offer more than 7-7.50 per cent?

That kind of interest is not possible for any payments bank. We plan to stick to the prevailing bank deposit rate of the day.

How many current accounts and savings accounts are you targeting in the first year of operation? What is the target for the next four years? What is the profile of customers you are targeting?

Ten million in the first year and 40-50 million in the next four years. We are looking at all those customers who can be digitally serviced. Interestingly, through the demonetisation move we expect over 500 million people to join the digital bandwagon, of which, a significant portion will be serviced by payments banks.

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December’ 5th 2016: Demonetization – A growth Driver or a blunder

Demonetzation: Will it decide India’s fate?

Dear Readers,

This is our first independent post. Almost a month has passed and still the whole concept of demonetization is not clear. Supporters of the same are pushing hard to make it a success and opponents are cursing government for this action.

A few scholars had presented their independent views that we support and could be understood in normal parlance:

1. The move is definitely good but is it for curbing the black money in circulation or the cash money that holds back the economy in general? Don’t forget the crisis of 2007-08 when the entire world was bleeding through recession and we somehow managed to sustain.

2. The implementation that we have seen so far by the GOI is very poor. There is lack of infrastructure, sufficient new currency, unclear guidelines for banking and most importantly poor administration and accountability.

3. As stated by Dr. Singh, this move, if not properly managed, will lead to deteriorate the image of the central bank, globally.

4. A few school of thoughts also believed that black money was never present in the form of currency but was parked in other precious assets such as gold, diamonds and land (also). To some extent we also believe in the same. As per an international study, Indians have bought enormous quantities of gold in the past two decades, of which major portion was bullion and not jewelry.

5. There is another point which needs attention. As per the RBI, there was Rs. 14.18 lakh crore in circulation in the form of Rs. 500 and Rs. 1000 notes when its demonetization was announced on November 8th. By 5th of December, it was expected that Rs. 11 lakh crore has already been deposited in the system. With little less than a month left for closure, this raises question whether the whole exercise was needed at all in the first place. PLEASE NOTE: there are two situations here:

a. If there will be more deposits then expected, does it indicate that there was no black money at all ?

b. If there will be more deposits then expected by the central bank (say the total money deposited in the form of banned notes reaches to Rs. 15 lakh crores), who will bear the liability (of Rs. 1 lakh crores apprx).

Its too early to say for its success but we all wish that our country to become a super power on the world map. And all we expect that this shouldn’t turn out to be a mere political gimmick.

Cheers !!

Sept 20′ 2016: Fino PayTech has set a target of attaining an AUM of Rs 1000 crore

Fino PayTech has set a target of attaining an AUM of Rs 1000 crore

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September 16′ 2016: Hero FinCorp raises Rs 1000 crore, aims at reaching asset size of Rs 35,000 cr by 2020

Hero FinCorp raises Rs 1000 crore, aims at reaching asset size of Rs 35,000 cr by 2020

Hero FinCorp today said it has raised Rs 1,000 crore fromChrysCapitalCredit Suisse and the Hero Group to fuel future growth over the next 12-18 months. 

The company aims to reach asset size of Rs 35,000 crore by 2020 from Rs 8,000 crore now. 

ChrysCapital led the current round by investing Rs 570 crore. The Hero Group has made an additional investment of Rs 300 crore in the latest round. Credit Suisse has invested Rs 132 crore. 

Pawan Munjal, chairman, Hero Group, said, “The financial services market in India, particularly the NBFCs, has witnessed steep growth in recent years and it still remains largely under penetrated. With Hero FinCorp, we aim to capitalise on this opportunity by providing credit power to financially excluded customers across the hinterlands of the country.”



August 19′ 2016: Singtel to buy 7.39% more in Bharti Telecom for $659 million

The move will strengthen Singtel’s foothold in India; Singtel to also acquire 21% stake in Thailand’s Intouch Holdings for about $1.14 billion

Singapore Telecommunications Ltd (Singtel) said on Thursday that it had signed an agreement with its majority owner Temasek Holdings (Pte) Ltd to purchase a 7.39% stake in Bharti Telecom Ltd, the holding company of India’s largest telco Bharti Airtel Ltd, for $659.51 million.

The deal will strengthen the foothold Singtel, South-East Asia’s largest telecom company, has in India, the world’s second largest mobile-phone market, where consumers are switching to smartphones from feature phones at a rapid pace.

Prior to the agreement with Temasek, Singtel already owned 39.78% of Bharti Telecom besides a direct stake of 15.01% in Airtel through its subsidiaries Pastel Ltd and Viridian Ltd.

With the latest deal, Singtel’s effective total holding in Airtel will increase to 36.27% from 32.94%, cementing its position as the largest shareholder in the Indian company.

The Mittal family owns just under a 30% effective stake in Airtel, largely by virtue of its 51% stake in Bharti Telecom.

Additionally, Singtel will acquire a 21% stake in Thailand’s Intouch Holdings Public Co. Ltd for about $1.14 billion. Intouch is the biggest shareholder in Thailand’s largest mobile operator Advanced Info Services Public Co. Ltd (AIS)

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Aug 12′ 2016: Hero FinCorp set to close PE fundraising worth $100 million

Hero FinCorp set to close PE fundraising worth $100 million

Hero FinCorp, which took birth as Hero Honda FinLease Ltd in December 1991, recorded a turnover of Rs771 crore in 2015-16 against Rs298.62 crore in 2014-15

Mumbai: Hero FinCorp Ltd, the financial services arm of India’s largest two-wheeler maker Hero MotoCorp Ltd, is close to raising around $100 million from private equity (PE) investors, two people aware of the development said.

Singapore investment firm Temasek Holdings Pte. Ltd and India-focused PE fund ChrysCapital LLC are in the final stages of talks with Hero, one of the two persons said. The deal could be closed within a couple of days, this person added, on condition of anonymity.

According to this person, both Temasek and ChrysCapital are equally keen on a stake and shares could be split between the two.

Hero FinCorp promoters, who had initially planned to sell 15% stake for $85 million may instead sell about 20-25% stake for $100-120 million, the second of the two persons cited above said.

Hero FinCorp planned to raise $100 million (Rs.650 crore) by selling a significant minority stake to PE funds to fuel its expansion into new areas, Mint reported in November last year. The company hired global investment bank Credit Suisse Group AG to find buyers and discussions had started, the Mint report added.

Spokespersons at Temasek and ChrysCapital declined to comment while an e-mail sent to Abhimanyu Munjal, chief executive officer at Hero Fincorp, and a spokesperson at Credit Suisse on Thursday went unanswered.

Hero FinCorp, which took birth as Hero Honda FinLease Ltd in December 1991, recorded a turnover of Rs.771 crore in 2015-16 against Rs.298.62 crore in 2014-15.

The non-banking finance company (NBFC) has a presence at over 1,000 retail financing touch-points across Hero MotoCorp’s network and has partnered with more than 200 satisfied corporate clients, according to the company website.

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July 20′ 2016 – ICICI PRUDENTIAL LIFE listing may fetch Rs. 6500 crore.

ICICI Prudential Life could become the first major insurance company to be listed through an initial public offer after parent ICICI BankBSE -0.58 % decided to sell a part of its stake to the public. 

India’s largest private sector life insurer filed an offer document with regulators for an issue that could raise around Rs 6,325 crore for the parent while valuing the company at close to Rs 50,000 crore. 

The share sale is an exclusive offer by ICICI Bank and does not comp .. 


July – 18 : ICICI Prudential Life files DRHP for India’s first insurance IPO



SEBI to delist 4200 Companies from stock exchanges to give exit to investors.

In a mammoth clean-up exercise, markets regulator Sebi is planning to push for delisting of over 4,200 listed companies whose shares are not being traded, and promoters refusing to give exit opportunity to investors would face strict penal actions.

These include over 1,200 companies whose shares are listed on national bourses BSE and NSE but where trading has been suspended for various non-compliance issues for over seven years. Besides, there are over 3,000 companies listed on various regional stock exchanges that have become defunct, Sebi Chairman U K Sinha said on Wednesday.

He also warned of strong action against the auditors who close their eyes to the lapses in the financial accounts of listed firms.

“So far, we have had a hands-off approach on auditors, but we will take action if something serious comes to our notice.

Auditors cannot go scot-free if they have been certifying the books for years without pointing finger at the lapses,” Sinha said.

The exercise for over 4,200 listed firms would be completed this year. Such exercises would be taken up going forward to clean up the market from what the Sebi chief described as “a source of nuisance”.

In an interaction here, Sinha said delisting of these companies is one of the key focus areas for the regulator in the current fiscal.

“We are going to reduce the number of listed companies. We have already reduced the number of stock exchanges by successfully closing several defunct or non-functional regional exchanges. They were centres of risk and there were series of litigations but we have won all of them.

“Now our target is to reduce the number of listed companies where no or little trading is taking place,” he said, adding that it was not something to be happy about to have maximum number of listed companies if there was no trading activity happening.

“There are two sub-sets — first there are over 3,000 companies exclusively listed on regional exchanges and then the second is the list of companies where trading has been suspended for a long time. To start with, we have decided on a seven-year threshold and there are over 1,200 such listed companies together on BSE and NSE,” he said.


June 25′ 2016 – LT Infotech IPO Update

Engineering major Larsen & Toubro (L&T) on May 25 said it will decide on when to launch the IPO of L&T Infotech in a week.

Read more at: http://www.moneycontrol.com/news/business/decisiontiminglt-infotech-ipoa-week-naik_6746121.html?utm_source=ref_article

HDFC Standard Life announces IPO

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L&T Infotech’s IPO to go ahead with lower valuations

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RBL Bank one step closer to IPO launch

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Helicopter operator Pawan Hans considers IPO

Helicopter operator Pawan Hans considers IPO

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