The ARCs have recently made a pitch to the Reserve Bank of India (RBI) to let wealthy investors subscribe to and trade in ‘security receipts’ (SRs) which are issued by ARCs to part-pay for loan portfolios bought from banks. These receipts are closest to ‘junk bonds’ in the emerging Indian financial market for stressed loans.
India, France near deal on tax treaty, to lower levy on dividends paid to French parent companies
India and France are nearing a revised tax treaty that will reduce dividend taxes for French parent companies holding over 10% stakes to 5%, while