Indian Continent Investment to sell 0.8% stake in Bharti Airtel for Rs 9,300 crore
Indian Continent Investment, led by Sunil Mittal, plans to sell approximately 0.8% of its stake in Bharti Airtel for over ₹9,300 crore through a block deal. The sale involves five crore shares at a floor price of ₹1,862 per share, a 3% discount. This follows a similar stake sale in February, with Bharti Airtel’s shares […]
Co-lending norms: Tech integration could prove a hurdle
Following the RBI’s tighter regulations on co-lending, banks and NBFCs may shift towards direct assignment of assets. The new rules demand significant tech integration and credit policy alignment, potentially slowing down operationally intensive loans. While larger NBFCs might find the compliance burdensome, smaller ones could benefit from the default loss guarantee, enhancing their scaling ability.
India’s general insurance sector reports muted growth in July
India’s general insurance sector experienced slow growth in July. Premium growth was only 2.8 percent. Motor insurance sales were weak. Big companies like Bajaj Allianz and ICICI Lombard saw declines. New India Assurance, however, grew by 16 percent. Health insurers performed better, growing over 10 percent. The industry’s total premium was ₹29,729 crore.
Sebi permits joint inspections of stock brokers by Market Infrastructure Institutions
Sebi has permitted Market Infrastructure Institutions (MIIs) to conduct joint inspections of stock brokers, streamlining the process. This move aims to reduce the burden on intermediaries caused by frequent, separate inspections by stock exchanges, depositories, and clearing corporations. MIIs are also required to establish information-sharing mechanisms for inspection observations.
Can US-Russia summit alleviate India’s concerns over Trump’s tariff policies?
Indian equity markets rebounded on Thursday, recovering from earlier losses fueled by tariff concerns. Optimism surrounding a potential Trump-Putin meeting spurred hopes for eased US-India trade relations, particularly regarding Russian oil purchases. The NSE Nifty and BSE Sensex both closed marginally higher, driven by short covering and positive momentum indicators, suggesting a possible continuation of […]
RBI grants AU Small Finance Bank a universal license, first in a decade
The Reserve Bank of India has granted AU Small Finance Bank a universal banking license, the first in a decade, potentially paving the way for other small finance banks to transition. AU Bank met the RBI’s stringent criteria, including minimum net worth, capital adequacy, and asset quality.