Category Archives: banking

First Interstate BancSystem gains amid report of activist stake

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First Interstate BancSystem (NASDAQ: FIBK) experienced a 4% increase in its stock price, partly following reports that activist investor HoldCo Asset Management has acquired a significant stake in the regional lender.

HoldCo Asset Management has reportedly urged First Interstate management to halt acquisitions and focus on repurchasing shares. The activist’s involvement signals potential strategic changes for the company moving forward.
https://seekingalpha.com/news/4505729-first-interstate-bancsystem-gains-amid-report-of-activist-stake?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

People With High Credit Scores Are Locking In This 0% Interest Credit Card Offer

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(Note: Thank you for supporting businesses like those presenting a sponsored message below and ordering through the links below, which benefits Gateway Pundit. We appreciate your support!)

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A handful of savvy people are making an interesting strategic move: transferring their balances to a 0% Interest Credit Card that freezes interest until 2027.

### How This Works

High interest rates can be overwhelming. At 20% APR, a $10,000 balance costs $2,000 a year just in interest — and that’s before you even begin paying down the principal.

But with **0% interest until 2027**, that same $10,000 balance costs you:

– **Zero in interest.**
– Every payment you make actually goes toward eliminating your debt, not enriching the bank.

### Who This Is For

– Prime and Superprime credit holders (typically scores between 660 and 850)
– Individuals carrying balances they’d rather not see balloon
– Borrowers who want a financial reset without taking on risky loans

### How to Do It

1. **[Click Here to Check Eligibility](#)**
The application takes just a few minutes online.

2. **Transfer Your Balances**
Move your high-interest debt over. It’s seamless, and most transfers happen within days.

3. **Start Paying Down Principal**
With zero interest, your payments finally make a dent in your debt.

Even if you’ve always had excellent credit, this economy is testing everyone. The smart move you can make right now is to stop banks from profiting off your situation.

With interest paused until 2027, you’ve got breathing room and a chance to pay off your debt on your terms, not the banks’.

[Click here to apply and start saving today.](#)
https://www.thegatewaypundit.com/2025/09/people-high-credit-scores-are-locking-this-0-3/

PNB Fraud Case: CBI Court Grants Pardon To Nirav Modi’s Brother-In-Law, Maiank Mehta

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**Mumbai:**

The special CBI court has granted pardon to Maiank Mehta, the brother-in-law of fugitive businessman Nirav Modi, allowing his plea to be an approver in connection with the Punjab National Bank (PNB) fraud case lodged by the CBI against Modi.

Special judge AV Gujarathi, earlier this week, allowed Mehta’s application to turn approver after his confession statement was recorded by the CBI. Mehta was cited as an accused in the case registered by the agency for cheating PNB by fraudulently obtaining letters of undertaking (LOUs) worth Rs 23,780 crore.

The court stated that the pardon can be granted only after Mehta gives a statement and makes a full and true disclosure of the facts as an approver.

The CBI’s case against Modi is a predicate offence. Following this, the Enforcement Directorate (ED) launched a probe, in which Mehta was declared an approver by the special Prevention of Money Laundering Act (PMLA) court back in 2021.

The CBI, however, made Mehta an accused in the case earlier this month, later agreeing to accept him as an approver.

As per the CBI case, the funds obtained through LOUs were transferred to Pacific Diamond FZE, Modi’s shell company in the UAE, and subsequently routed to Mehta through a complex web of transactions.

The probe revealed that around $30 million were transferred to Mehta’s account from Pacific Diamond FZE. Between November 13 and 26, 2013, Mehta transferred these funds in 10 instalments to Modi’s sister, Purvi Mehta’s account. Purvi reportedly showed these as gifts from her husband.

The CBI further claimed that on November 15, 2013, Purvi created four deposits with Syndicate Bank for three years, appointing Mehta as the nominee. Later, she allegedly availed a term loan of $19 million from Syndicate Bank, London, by mortgaging all the FCNR deposits.

On November 22, 2013, she is said to have transferred the loan amount to her account maintained with Ratnakar Bank. For the remaining $10 million, she allegedly opened a fixed deposit account with Ratnakar Bank.

Against this, she allegedly obtained a packing credit foreign currency facility of $28.50 million through her firm, Radhashree Jewellers Company.

The CBI alleges that out of the funds transferred via the LOUs, $30 million were used by both Nirav Modi and Purvi Mehta through a credit facility obtained by Radhashree Jewellers, with the assistance of Mehta.

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https://www.freepressjournal.in/business/pnb-fraud-case-cbi-court-grants-pardon-to-nirav-modis-brother-in-law-maiank-mehta

Tata Capital eyes valuation of $16.5B for its $1.85B IPO

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**Tata Capital Eyes Valuation of $16.5 Billion for Its $1.85 Billion IPO**

*By Dwaipayan Roy | Sep 23, 2025, 8:03 PM*

Tata Capital, the financial services arm of the Tata Group, is preparing for a significant initial public offering (IPO) scheduled for early October. The company is targeting a post-money equity valuation of approximately $16.5 billion (around ₹1,46,000 crore) for the listing, according to sources cited by Moneycontrol.

**IPO Launch Details**

The IPO is expected to open for public subscription on October 6, with the anchor portion likely to be allotted on October 3. The total size of the IPO—which includes a fresh issue of shares as well as an offer for sale by Tata Sons and the International Finance Corporation—is estimated at about $1.85 billion (nearly ₹16,400 crore). Life Insurance Corporation of India (LIC) is anticipated to be a major investor in this offering.

**Utilization of Funds**

Proceeds from the IPO will primarily be used to strengthen Tata Capital’s Tier-I capital base. This enhancement will support the company’s future capital requirements and facilitate onward lending activities. For this significant IPO, Tata Capital has enlisted the legal services of Cyril Amarchand Mangaldas, AZB & Partners, and Latham & Watkins.

Despite recent challenges in the non-banking financial company (NBFC) market space, Tata Capital remains optimistic about its upcoming public listing.

**Business Overview**

Tata Capital, classified as an upper-layer NBFC by the Reserve Bank of India (RBI), began its lending operations in 2007. Since then, it has served over seven million customers across India.

The company offers an extensive portfolio of more than 25 lending products catering to salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates. Apart from lending, Tata Capital also distributes third-party financial products, including insurance and credit cards.

As of March 31, 2025, retail and SME customers accounted for 88.5% of the company’s total gross loans. Tata Capital supports its operations through a pan-India distribution network comprising nearly 1,500 branches.

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Stay tuned for more updates on Tata Capital’s IPO and its progress in the financial services sector.
https://www.newsbytesapp.com/news/business/everything-we-know-about-tata-capital-s-mega-ipo/story