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NEW DELHI: Authum Investment and Infrastructure Ltd has emerged as the highest bidder for Reliance Home Finance (RHF), a group company of the debt-ridden Anil Ambani-promoted Reliance Group, with about Rs 2,900 crore offer. Sources said lenders led by Bank of Baroda would receive Rs 2,587 crore or 90 per cent upfront and the remaining […]
Developers are counting on improvement in economic conditions to clear unsold inventory.The government may be talking of ‘housing for all’ by 2020 but far from general expectations, the real estate industry across the country continues to suffer from oversupply, low absorption levels and rise in QTS (quarter to sell unsold inventory) and high prices. While
Housing market still under pressure awaits recovery Read More »
HDFC Bank on Saturday said its board has given its approval to buy more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over Rs 1,906 crore from the parent company (HDFC). “The board of directors of HDFC Bank at its meeting held on June 18, 2021 has approved the purchase
HDFC Bank to buy stake worth over Rs 1906 crore in group’s general insurer from parent Read More »
Mumbai-based non-banking finance company Authum Investment and Infrastructure has been declared as the preferred bidder for Anil Ambani’s debt laden Ltd (RHFL) with over 90% of the creditors voting for the company. Saturday was the last date for the voting which started on May 31 and creditors which included private and public sector banks and
Mumbai-based NBFC Authum Investment wins Reliance Home with more than 90% votes Read More »
The private sector has declared accounts of and Reliance Commercial Finance a fraud with combined loan outstandings of over Rs 160 crore to the lender. The bank has reported to the Reserve Bank regarding frauds in the credit facilities extended earlier to two listed companies — Reliance Home Finance with loan outstanding of Rs 21.94
State-owned Bank of Maharashtra (BoM) has become top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The Pune-based lender recorded a 35 per cent growth in MSME loans at Rs 23,133 crore in 2020-21, according to the BoM data. It was followed by the Chennai-based which posted a
Bank of Maharashtra tops PSU bank chart in MSME loan growth in FY21 Read More »
The joint venture floated by Centrum Group and digital payments startup Bharatpe for launching a small finance bank will infuse Rs 1,800 crore capital into troubled Punjab & Maharashtra Cooperative Bank (PMC) on its merger with the proposed bank, a top Centrum official has said. Last Friday, the Reserve Bank gave an in-principle approval to
Centrum-Bharatpe joint venture to pump Rs 1800 crore into PMC on merger Read More »
European telecom gear vendors Ericsson and Nokia have told the government that the customs duty imposed on components for telecom equipment will impact the cost effectiveness of local manufacturing at a time when a similar levy on finished products hasn’t been increased correspondingly. Nokia’s India head Sanjay Malik told ET that the duty hike will
Reckitt Benckiser has reverted to its original structure in India of one executive head for the geography, elevating Gaurav Jain as the overall chief of the company in the country four years after it had split the business into healthcare and hygiene revenue streams. Jain, so far, had been in-charge of the India health business.
Gaurav Jain is India Chief of Reckitt Benckiser Read More »
United Spirits, India’s biggest spirits company, is entering into the craft spirits segment by launching a new whiskey, its first local brand launch in nearly two decades. The new brand—United’s Epitome Reserve—is part of USL’s wider strategy to build a premium craft spirits portfolio in India, the company said. “It is about testing Indian craftsmanship
United Spirits forays into craft spirits with new whiskey Read More »
A new research conducted by Parel-based Indian Council of Medical Research-National Institute of Research in Reproductive Health (ICMR-NIRRH) shown antigen negative tests came positive when retested with RT-PCR for 33.7% of the total samples collected. This is a crucial part of the the state’s Covid puzzle since 60% of daily Covid-19 tests in Maharashtra are
AMARAVATI: Dismissing the campaign against the new property tax regime in urban areas, the government said reforms would reduce tax for lakhs of assessees. The government clarified that the new system would end corruption in urban local bodies and strengthen their finances. The government carried out a study on apprehensions raised by opposition parties and
Andhra Pradesh government Real Estate News Read More »