Mahindra & Mahindra Financial Services Ltd, the wholly-owned subsidiary of automotive giant Mahindra & Mahindra, has posted a net profit of Rs 109.95 crore for the quarter ended March 31, 2009 as compared to Rs 76.90 crore for the quarter ended March 31, 2008.
In addition, the company has also registered jump in its total income from Rs 364.09 crore for the quarter ended March 31, 2008 to Rs 401.50 crore for the quarter ended March 31, 2009.
Akshaya Prasad, the infrastructure head of financial services bigwig Goldman Sachs, has resigned after his nine-year stint at the company. He has joined private equity firm Greater Pacific Capital, where he has been appointed the co-head of Greater Pacific's India business.
With Bajaj already has life insurance and general insurance business tie-ups with Allianz since eight years, the Rahul Bajaj-owned Bajaj Finserv lately entered into a shareholders' deal with Allianz Global Investors, which is venturing into the asset management arena in India.
The Munich, Germany-based insurer will hold a majority stake of 51 percent in the asset management joint venture.
Industrial Development Bank of India Limited (IDBI) a leading public sector bank, has revealed its plan to raise capital worth Rs 5,000 crore through senior, upper and lower Tier II bonds in 2009-10.
The decision was taken by the company to shore up its capital adequacy ratio for supporting business growth.
Mahindra & Mahindra Financial Services Ltd, the wholly-owned subsidiary of automotive giant Mahindra & Mahindra, has posted a net profit of Rs 109.95 crore for the quarter ended March 31, 2009 as compared to Rs 76.90 crore for the quarter ended March 31, 2008. 
Akshaya Prasad, the infrastructure head of financial services bigwig Goldman Sachs, has resigned after his nine-year stint at the company. He has joined private equity firm Greater Pacific Capital, where he has been appointed the co-head of Greater Pacific's India business. 
Financial 
With Bajaj already has life insurance and general insurance business tie-ups with Allianz since eight years, the Rahul Bajaj-owned Bajaj Finserv lately entered into a shareholders' deal with Allianz Global Investors, which is venturing into the asset management arena in India. 
Industrial Development Bank of India Limited (IDBI) a leading public sector bank, has revealed its plan to raise capital worth Rs 5,000 crore through senior, upper and lower Tier II bonds in 2009-10. 
