Shifting Gears: PSBs borrow more to cater to credit demand as deposits lag
Public sector banks are borrowing more to fund lending expansion. Deposits are not keeping pace with credit growth for these banks. Private banks show stronger deposit growth and are gaining market share. This trend raises concerns about funding sustainability for state-owned lenders. Abundant system liquidity currently cushions the impact of these shifts.
Adani Energy wins Rs 4,700 crore Maharashtra transmission project; shares rise
Adani Energy Solutions secured a significant transmission project in Maharashtra. This project will cost approximately Rs 4,700 crore and is for renewable energy evacuation. It will also support pumped storage projects totaling 4,500 MW. The transmission network will expand by 562 circuit kilometers and 9,000 MVA. AESL’s transmission order book now stands at Rs 85,000 […]
Tata Power loses challenge to $490 million arbitration award
Tata Power’s challenge to a $490 million arbitration award was rejected by Singapore’s court. The court upheld damages awarded to Kleros Capital Partners regarding a Russian coal asset bid. Disagreements over leadership and ownership soured the partnership in 2015. Kleros alleged Tata Power misused confidential information and acted in bad faith. The company must now […]
Rupee slide, valuation rules put foreign asset disclosure scheme out of reach for many
The rupee’s depreciation and strict valuation rules hinder foreign income disclosure. A one-time voluntary disclosure window allows regularization of overseas assets up to one crore. However, many exceed this limit due to currency conversion dates and asset values. Taxpayers explore updated returns and disclosure schemes, risking misrepresentation claims. Clarification on valuation rules is needed for […]
GAIL opposes IGX platform for LNG terminal capacity booking
India’s top gas marketer GAIL opposes a new platform for booking LNG terminal capacity. GAIL states this platform will add costs for consumers without significant value. The company believes existing frameworks do not require a separate booking platform. High global LNG prices already pressure downstream natural gas consumers. Much of India’s LNG regasification capacity remains […]