Samvardhana Motherson is preparing to compete with Strategic Value Partners (SVP) for the acquisition of Marelli Holdings. Motherson is reportedly raising $2 billion for the deal. Marelli’s board is meeting to decide the company’s future amidst financial struggles. Motherson has proposed a financial package involving KKR writing off its shares and Motherson acquiring new shares and debt.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.