The Finance Bill’s restriction on resident Indians investing more than 5% indirectly in offshore funds is hindering global fund managers from moving to India. This 5% limit, aimed at preventing round-tripping, is difficult to track and deterring fund management activity in GIFT City.
AU Small Finance Bank Q2 profit jumps 53% to Rs 858 crore
AU’s gross non-performing assets ratio fell 42 basis points (bps) to 1.99% at the end of September. This helped in 25% lower provision at Rs