Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
The merged entity will have a combined market share of 6.4 per cent in the non-life insurance industry with 308 branches in the country. The deal is subject to regulatory approvals and the entire process is expected to be completed in nine months.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
The Ratlam division of the national transporter is planning to provide head and foot massages to passengers in 39 trains originating from Indore railway
One of the major challenges before the government is that the annual average refill by a PMUY consumer is 3.28 cylinders compared to seven for others.
L&T, Ircon International and Tata Projects have showed interest in a tender issued by the National High Speed Rail Corporation, implementing agency for the project. The tender is for construction of stations, bridges, viaducts, maintenance depots and tunnels.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
A change in electrification criterion in April 2017, with retrospective effect, helped the government add "already electrified 3,090 rkm" to its credit.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
'The Congress's arrogance and unrealistic claims have weakened the anti-BJP movement at the national level.'
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
Chennai-based Lakshmi Vilas Bank is set to merge with Indiabulls Housing Finance in a share-swap deal, RBI may not be comfortable with a bank owner having realty business under its wings.
The investments by Uber and Ola included setting up kiosks, incentivising drivers for parking at the railway stations, and payments to the Indian Railways.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
The company management remained tight-lipped about the resignations, but indicated there was nothing unusual in these movements.
Lenders say settlements will cross over 100 accounts in the March quarter.
Bankers said the SC verdict might prolong the resolution process and force lenders to bring back cases to the drawing board.
The delay will increase the provisioning burden on lenders and will also postpone the benefit of reversal of money set aside as provisions.
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