After this, Yes Bank held a Swiss challenge auction with Prudent ARC’s offer as an anchor offer, giving the ARC the first right to match any counter-offer the private lender would receive. Arcil gave a counter-offer of ₹203.4 crore, which Prudent ARC matched on Monday, the people cited above said. Prudent ARC and Yes Bank are expected to close the transaction this month end, the people said.
Auto sales indicate slowing down in urban economy: Chetan Ahya
Chetan Ahya of Morgan Stanley discusses the current slowdown in India’s urban economy and predicts a recovery driven by increased government expenditure. He highlights signs