Uncertainty over its merger with Lakshmi Vilas Bank and allegations of impropriety against promoters saw Indiabulls Housing Finance stock tank big time.
Bansal will become CEO of Bengaluru-based Chaitanya Rural Intermediation Development Services. Operating in 5 states, it lends to small businesses, and provides education and housing loans.
The Essel Group wanted a time extension to fetch better value for its assets including roads, green energy, and its flagship Zee Entertainment Enterprises.
The 35 basis point repo rate cut is not the first unconventional rate action from the central bank as two repo rate actions in March 2003 saw a 40 and 10 basis points reduction in a matter of 13 days.
FM Nirmala Sitharaman will hold similar meetings with representatives from MSMEs, auto, industry associations, financial market stakeholders, and others to address sector-specific issues.
Slowing consumer expenditure and falling demand from small business is beginning to show on Bajaj Finance, considered one of the strongest non-banking finance companies in the business.
The government’s partial credit guarantee on asset purchases does not address investors’ long-term concerns about the sector’s exposure to stressed real estate: Fitch Ratings.
DHFL, India’s second-largest housing finance company, has been living with rating downgrades and strategic divestments to overcome the liquidity crisis following the IL&FS saga.
