The RBI wants every small-ticket loan to be a marriage officially solemnised in the church of banking. Its new guidelines stop nonbanks from loading digital wallets using credit lines.
Move follows another major shadow lender Bajaj Finance, which has also been working on its consumer app, as the sector tries to play catch up after undergoing a crisis.
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.
With the crisis continuing, Indian mutual funds halved their holdings of debt sold by shadow lenders in the two-year period to June after defaults by some major financiers.
Premiums investors seek to buy AAA ranked 5-year bonds of NBFC lenders over government securities declined in May after gaining for 3 consecutive months.
On 29 May 1951, Jawaharlal Nehru defended adding 'reasonable restrictions' to Article 19, arguing that free speech must be balanced with national security and unity.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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