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| 07 March, 2021, 11:39 PM IST | E-Paper
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    Finance

    Women borrow more for home purchase than other assets : CRIF Highmark

    Women account for 29 per cent of the Rs 20 lakh crore worth home loans extended by Indian lenders as of December 2020. While their share in Rs 4.6 lakh crore auto loans and Rs 5.9 lakh crore personal loans is as at 16 per cent each, according to the credit bureau.

    Reliance Home Finance defaults on Rs 40 crore loan repayment to Punjab & Sind Bank

    The company's total obligation is of Rs 200 crore on a 5-year tenure secured term loan at 9.25 per cent per annum from Punjab & Sind Bank, RHFL said in a regulatory filing. The company has net cash (including cash equivalent, liquid mutual fund investments, fixed deposits etc) of more than Rs 1,500 crore.

    How the production-linked incentive scheme is galvanising investments into manufacturing

    According to a piece by former chairman, CCI, Dhanendra Kumar, the production-linked incentive (PLI) scheme to galvanise investments into manufacturing and exports has been a thumping success. The scheme will have GoI distribute $20 billion among eligible manufacturers, and is aimed at remunerating manufacturers for increasing total output incrementally, either for the Indian market or for exports. It will also help foreign companies invest or expand in India, and every new unit they produce will earn them an incentive to expand further. In the process, more job opportunities will be created. GoI, too, will earn extra goods and services (GST) revenues, a net gain estimated at Rs 65,000 crore in mobiles and telecom equipment alone over five years.

    Muthoot Finance chairman MG George passes away

    Mathai George George Muthoot was born in November 1949 in Kozhencherry in the present day Pathanamthitta district of Kerala as the son of M George Muthoot, who began the finance business and as the grandson of Muthoot Ninan Mathai, the group founder.

    DHFL auditor Grant Thornton finds another fraud of Rs 1,424 crore

    The company, which is undergoing a corporate debt resolution process in the National Company Law Tribunal (NCLT), is being run by an administrator in the aftermath of IL&FS crisis in 2018 and unearthing of massive fraud in the company.

    PNB Housing Finance, YES Bank sign strategic co-lending pact for retail home loans

    PNB Housing and Yes Bank will synergise capabilities to provide an efficient and seamless experience to existing and new retail home loan customers, PNB Housing Finance said in a regulatory filing.

    Adar Poonawalla-led Rising Sun Holdings notifies CCI of Magma Fincorp Deal

    The deal which involves the preferential allotment of shares worth Rs 3,206 crore, would give RSHPL a controlling stake in the non-banking financial company (NBFC).

    Andromeda targets 20 pc increase in loan disbursal in FY22 at Rs 30K cr

    V Swaminathan, CEO Andromeda & Apnapaisa, said the company's loan disbursal is expected to grow to Rs 25,000 crore this fiscal year from Rs 18,000 crore in the previous year despite the COVID-19 pandemic.

    Asset growth at NBFCs, HFCs to see nine percent jump in FY22, says India Ratings report

    The wide differential among NBFCs' funding costs is likely to push the sector to consolidate, especially in the sectors with a thin margin profile and limited product differentiation, it said, adding the strong regulatory support in FY21 ensured adequate liquidity.

    Govt to hold at least 26% in DFI, offer guarantees

    The government is likely to have full ownership of the DFI to start with but over time may offer up to 74% stake to domestic and foreign financial institutions, multilateral lenders and sovereign wealth funds.

    Public sector bank auditors ask RBI to add more agencies as work surges

    Auditors have argued that increasing the manpower for inspecting bank books is important to maintain the quality of the exercise.

    Indiabulls Housing is looking to offload minority stake

    Indiabulls Housing is looking to offload minority stake

    Some of the private equity houses and asset managers which may be sounded out by Moelis are TPG, Lonestar, Oaktree, Brookfield, besides Apollo Global which had done a due diligence of the company earlier.

    Tide to hire 350 people in Hyderabad, Gurugram this year

    Tide to hire 350 people in Hyderabad, Gurugram this year

    With this, the company's total headcount in India will cross 400 by the end of the year, according to a statement.

    Amazon, Google, Facebook vie for piece of India’s digital payments market

    Amazon, Google, Facebook vie for piece of India’s digital payments market

    The companies are part of four consortia preparing to apply for licenses to operate retail payments and settlement systems in the country, people familiar with the matter said. More companies could band together before a March 31 application deadline.

    Alvarez & Marsal threatens to sue Altico Capital over fees, might thwart resolution plan

    Alvarez & Marsal threatens to sue Altico Capital over fees, might thwart resolution plan

    A&M’s contract with Altico was terminated more than a year ago in February 2020 as lenders blamed it on a wrong advice in defaulting a paltry sum to Mashreq Bank.

    Baring Asia looks to cash out of CMS Info Systems, seeks private equity, strategic buyers

    Baring Asia looks to cash out of CMS Info Systems, seeks private equity, strategic buyers

    The Hong Kong-based buyout group that owns 100% of CMS is in discussions with JP Morgan and other investment banks to formally launch a sale process shortly, tapping PE and strategic firms, said at least three people aware of the plan. The company received regulatory approval for an IPO in 2017 but didn't proceed because of the demonetisation impact.

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