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.
I was in Islamabad when Mark Tully broke the news of Zulfikar Ali Bhutto being hanged. I held it against him—he could have tipped me off. But he was a journalist before he was a friend.
Premier David Eby, the leader of the minerals- and gas-rich province of British Columbia, spoke with executives at Tata Steel and Reliance Industries on a trade mission to India.
President Murmu has also conferred Kirti Chakra on Major Arshdeep Singh of 1 Assam Rifles for eliminating armed cadres when patrol led by him came under fire along Indo-Myanmar Border last May.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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