In India, with nearly every household owning gold jewellery in some quantity, gold loans are a preferred option at a time of widespread unemployment and loss of income.
Oaktree Capital Group has offered Rs 366.5 billion, up from Rs 310 billion in its previous bid for DHFL. Piramal Enterprises and Adani Group also improved their proposals.
A stronger NBFC sector, which has been struggling since a crisis in 2018 when a large financier unexpectedly defaulted, is key to helping staunch further trouble in the economy.
Becoming banks would give NBFCs access to low-cost deposits. But even after IL&FS crisis led to rising borrowing costs, no company applied for a bank licence.
Even before pandemic struck, India was in the midst of a slowdown as a NBFC crisis hurt new loans & took a toll on consumption, which accounts for 60% of GDP.
TReDS platform boosts cash flow financing for small businesses. And yet, only about 10,000 out of more than 6 crore unincorporated MSMEs are registered on the platform.
Deepak Parekh, Chairman of HDFC Ltd, India's largest housing finance company, was the guest at ThePrint's Off the Cuff. In a conversation with Editor-in-Chief...
The meeting is likely to be around reviving the economy which is expected to contract by 4.5 per cent in the current fiscal, according to some estimates.
Kanoria said the special liquidity window announced by the Modi government for NBFCs has not helped Srei, adding that banks are still reluctant to lend.
The reach and impact of influencers are so significant that even politicians such as Prime Minister Narendra Modi have recognised their value—the National Creators Award is proof.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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