Government looks to keep borrowing in check
The big pandemic stimulus and the contraction in the economy worsened the combined Centre and state debt-to-GDP ratio to 89.2% in FY21 from 75.1% in FY20. The International Monetary Fund (IMF) has forecast the ratio will improve to 83.5% of GDP in FY23 and gradually ease from FY26 onwards.
Baring PE Asia looks to pick up stake in Shriram Housing Finance
Shriram Housing Finance had assets under management (AUM) of Rs 7,200 crore at the end of December. Baring PE Asia had previously been among the major contenders to acquire ICICI Home Finance, a deal that didn’t materialise.
Divestment shortfall: Centre has math ready
In the February budget, the central government marked down the disinvestment target to ₹50,000 crore from ₹65,000 crore budgeted initially. It has managed to raise ₹31,107 crore so far.
Nearly 90% adults had accounts with financial institutions in FY21
The survey was initially planned to be conducted during the period January-December, 2020 but the field work was extended till August 15, 2021, due to the Covid-19 pandemic. The NSSO carried out the survey covering the entire country in its 78th round. The survey said that 34.9 % persons aged 15-29 years were in formal […]
Credit card outstandings rise 29.6% to record high in Jan
“Many categories have been digitised which has resulted in increased spends from existing customers using their credit cards,” said Rama Mohan Rao Amara, MD & CEO, SBI Card.
Adani Power amalgamates six subsidiary companies
“We wish to update that all the conditions stated under the Scheme for making it effective have been satisfied, and hence the Scheme is now effective from the Appointed Date i.e. October 1, 2021, as specified thereunder,” it said. The six companies — APML, APRL, UPCL, REL, REGL and APMuL — now stand amalgamated with […]
Shrinking g-sec yield spread hints rate increases may be near a peak
The benchmark 10-year government bond ended at 7.40% Monday, just two basis points higher than the five-year bond at 7.38%. Yield on the longer tenure 20-year bond was not far away, ending at 7.49% on Monday. Mumbai bond markets were shut for the Holi festival Tuesday.
NCLT clears Suraksha Realty’s takeover of Jaypee Infratech
In an oral order, the bench directed Suraksha to form a committee to immediately start construction, monitor the day to day progress of the construction and file a monthly update with the court. The full order was yet to be uploaded on the court website, till press time.