Inox Green offers ₹600 cr for Wind World O&M unit
Inox Green Energy has submitted a bid of ₹550-600 crore for Wind World India’s green energy operation and maintenance portfolio. This bid is part of a court-driven process. Wind World India is currently undergoing corporate insolvency proceedings. The company provides O&M services for over 4.5 GW of renewable energy capacity. Its clients include major groups […]
RBI proposes July 1 rollout of stricter mis-selling rules for banks
The Reserve Bank of India is introducing new rules for banks. Banks must now refund customers fully if a product or service is mis-sold. They also need to compensate customers for any losses incurred. These guidelines aim to protect customers and ensure fair practices in banking. The central bank is seeking feedback before implementing these […]
Canara Bank invites bids to sell ₹577-cr Supreme Housing loan
Canara Bank is selling ₹577 crore debt of Supreme Housing and Hospitality. A Swiss challenge auction is planned. The bank has also filed a petition to restart insolvency proceedings. This follows a failed one-time settlement offer by the company. The auction aims to gauge investor interest. Bids are due February 21. An electronic auction is […]
Sebi fines Zee promoter Rs 4 lakh for violating takeover regulations
SEBI has fined Cyquator Media Services ₹4 lakh for violating takeover regulations. The ZEEL promoter failed to disclose the creation and invocation of a pledge on 60.5 lakh shares in December 2016. Additionally, an incorrect disclosure was made regarding a 2019 share transfer.
FPIs continue to bail out of financial services
Foreign investors accelerated selling in financial services in the latter half of January, offloading ₹5,402 crore. Overall, overseas investors withdrew ₹29,056 crore across 15 sectors, with healthcare also seeing significant outflows. Metals and mining, however, attracted ₹8,837 crore in inflows, driven by precious metal momentum.
Microfinance shows spark but shrinks to lowest in 3 years
The Indian microfinance market has shrunk to ₹3.22 lakh crore, marking a significant 16% year-on-year decline and reaching a three-year low. This contraction is attributed to a large bank reclassifying micro loans as retail and an acceleration in writing off bad loans, despite some lenders showing improved recovery and business normalization.