Mistrust toward NBFCs that started with IL&FS Group’s default last year has spiralled after DHFL & units of Reliance Capital missed repayments on dues.
Nirmala Sitharaman said the RBI will replace the National Housing Bank and be the regulator of housing finance firms such as Dewan Housing Finance Corp. and Anil Ambani’s Reliance Capital.
Alternative investment funds have exploded in India as high upfront fees to distributors encourage them to lure investors to risky, unregulated products.
Spreading debt woes have fueled talk that the NBFC crisis is entering a second, more dangerous, phase, posing broader risks to Indian financial system.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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