President Mohamed Muizzu, known for his pro-China stance, has thanked India for enabling the resumption of medical evacuation services with civilian aviation personnel from India.
rediffGURU T S Khurana answers readers' personal income tax queries
Embattled Adani Group on Monday said it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monday, Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another $700 million in loans taken for the acquisition of Ambuja Cement. "The prepayment was done along with interest payment of $203 million," it added.
On Thursday, in his first interview with the local media since assuming office, Muizzu said India was instrumental in providing aid to the Maldives and has implemented the "greatest number" of projects.
Some of the fintechs that will get impacted include Cred, Paytm, Phonepe and Amazon Pay, among others.
Ravindra Jadeja is glad that he could repay skipper Virat Kohli's faith in him with a gritty half-century in the first Test against the West Indies, in Antigua, on Friday.
'A credit line on UPI is going to make banks think about credit fundamentally as they digitise the credit process entirely.'
Gambhir has ability to derive the best out of his players: Childhood coach Bharadwaj
Moratorium was only a temporary reprieve to borrowers affected by the pandemic, adding that a longer moratorium period exceeding six months can impact credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments.
British telecom player Vodafone on Wednesday said it has sold an 18 per cent stake in Indus Towers for 1.7 billion euro (about Rs 15,300 crore). Meanwhile, Bharti Airtel has increased its stake by acquiring 2.69 crore shares, representing a 1 per cent stake, in Indus Towers. The shares were acquired by Airtel at an average price of Rs 320 apiece, taking the transaction value to Rs 862.38 crore, as per the bulk deal data.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The Federation of Automobile Dealers Associations (Fada) has raised concerns over the rising inventory levels of four-wheelers at dealerships which have now reached a 60-day stockpile or around 550,000 units. This situation could mean a significant financial burden on dealerships due to the additional interest cost for the extended holding period. These 60-day inventory levels are nearing the 2018-19 levels when inventory days had approached 70 days, leading to the closure of around 282 passenger vehicle dealerships.
In December 2016, RBI had granted additional 60 days for repayment of certain loans
The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
Rajasthan Royals' coach Kumar Sangakkara backs the Assamese all-rounder to repay the team's faith in him.
With India's inclusion in global bond indices starting next financial year, the central government believes there will be greater scope for shifting to borrowings via long-term government securities (G-sec) from short-term instruments. This change may be factored into the FY25 interim Budget. "While this has been our focus, the inclusion of India in global bond indices gives us the opportunity to accelerate the shift towards longer tenure G-secs," an official said, requesting anonymity.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
P V Subramanyam takes a hard look at the pros and cons of both options.
The Reserve Bank on Wednesday imposed business restrictions on Edelweiss Group's lending and asset reconstruction arms on concerns over evergreening of loans. The central bank has asked ECL Finance Ltd (ECL) to cease and desist from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts, an official statement said.
The new TDP government will have to mop up over Rs 10,000 crore to fulfill the financial requirements for July, a retired senior bureaucrat said.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Are you a first-time IPO investor? Even if IPOs appear attractive with expectations of high returns, they come with risks and complexities, cautions Sheetal Jhaveri and shares her checklist to help you navigate through the world of IPOs
The Supreme Court on Friday stayed the Bombay high court order directing sale of bankrupt Housing Development and Infrastructure Ltd (HDIL) to ensure the repayment of dues of crisis-hit Punjab and Maharashtra Cooperative Bank. A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay high court order.
PNB is fully committed to its clean banking policy. That is why we are the first one to detect and report this to the various law enforcement agencies," PNB's CMD Sunil Mehta said on Thursday.
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
Personal loans offer more flexibility in usage but may come with higher interest rates and shorter repayment terms. It is important for individuals to evaluate their needs, financial situation, and future goals before deciding between the two loan options.
The Bombay high court has directed a working woman to pay monthly maintenance of Rs 10,000 to her former husband who is unable to earn due to his ailments.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Edelweiss ARC, in a statement, denied that any undue pressure was brought to bear on Desai for loan recovery.
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
Will India bring in Sanju Samson for the struggling Shivam Dube?
The Vedanta Group is aiming to invest $20 billion across all its businesses in India over the next four years, its chairman Anil Agarwal said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event. "At the moment, we have a plan to invest $20 billion across sectors in four years time," Agarwal said.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Finance Minister Nirmala Sitharaman on Thursday proposed to borrow Rs 14.13 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year starting on April 1.
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