Telecom operator Reliance Jio Infocomm has arranged credit facilities worth $1.5 billion with lenders, including Bank of America and Barclays, to refinance existing loans.
The RBI on Friday said it will give banks Rs 1 trillion through targeted long-term repo operations (TLTROs), of up to three-year maturity, to deploy in "investment-grade corporate bonds, commercial paper, and non-convertible debentures over and above the outstanding level of their investments in these bonds as of March 27, 2020."
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
French observers point out that Paris had no choice but to issue a denial given the importance of India's Rafale purchase for France's aerospace industry.
Corporate giants Reliance Energy, Tata Power and Essar are among the 11 companies left in the fray for the two 4,000 MW power projects to be set in Gujarat and Madhya Pradesh at an investment of Rs 20,000 crore (Rs 200 billion) each.
Reliance Industries' plans to raise $500 million from overseas markets may suffer a setback after the government decided to "discourage" all external commercial borrowings above $100 million.
The growth in the PV segment was primarily led by car market leader, Maruti Suzuki India, which saw its dispatches to dealers grow 4.4 per cent YoY to 144,277 units after 10 months of drop. It was driven by new launches, such as the S-Presso, a mini sport UV.
RIL, Essar, Adani have sounded bankers to raise funds abroad in the coming weeks
Their startup investments number 13 so far, compared to 17 deals in 2020.
Taking a cue from neighbouring Gujarat and its successful Vibrant Gujarat summit, Maharashtra has organised a conclave -Transforming MMR into a Global Financial, Commercial and Entertainment Hub - on February 6.
The company is set to be India's first microlender to become a bank
India's dependence on imported crude oil to meet domestic demand has been a matter of concern for years. Delivering the inaugural address at the global energy summit - Urja Sangam - in 2015, Prime Minister Narendra Modi had called for enhancing domestic oil and gas production to cut the import burden. He aimed at lowering it by at least 10 per cent by 2022 - to coincide with the platinum jubilee of India's independence. But this target is far from being achieved and the country's import reliance has only risen.
Just three years ago, at the end of March 2011, NRI deposits were only $52 billion, half of what they are today.
Pakistan Prime Minister Nawaz Sharif on Monday approved in principle the financing plan of the much-delayed 4500 megawatt Diamer-Basha Dam project on the Indus river in Pakistan-occupied Kashmir and asked officials to expediate its construction.
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
'I would recommend two parts to fiscal support. One, support the lower end of the society by direct intervention through ways such as direct benefit cash transfer. Second, give fiscal support to the stressed sectors in line with the Rs 3-lakh crore (Rs 3 trillion) emergency credit line guarantee norms'
Most NBFCs will have to slow down their loan growth. Some of the most leveraged will have to sell a part of their assets (or loan book) to banks to raise incremental capital. Others may have to knock on the door of their deep-pocketed parents.
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
Metro projects usually require additional funding by promoters, which RInfra refuses to in this case.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
To attract capital into infrastructure projects, the ratings system needs a fresh look.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
The apex court said there was no occasion to doubt the decision-making process in the multi-billion dollar Rafale deal.
The private discoms that join the scheme would only benefit in terms of operational efficiency and there will not be any financial bailout
At the heart of Friday's case lay an ICICI Bank loan owed by Mallya's Watson and CASL, for which Diageo stepped in as a backstop so that it could be refinanced by Standard Chartered Bank.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
Investment announcement for $100 bn over 5 years likely.
Modi made a strong case for a partnership between the producers and consumers in the oil market as it exists in other markets.
The central bank gave 11 entities licences to start payments banks.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
The change in the latest Budget will impact the sale and rent of SEZ units of companies like Adani Port, which has large SEZs in Mundra.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
