How a low-key government effort is making mobile payments easier and could bring more Indians into the financial system.
KKR’s two Indian credit units may spend as much as $270 million combined to purchase portfolios from local NBFCs.
Government is considering tapping Indians living overseas to lure foreign exchange flows and prop up a sagging rupee.
Indian firms, both hedged and unhedged, face $28 billion of non-rupee bonds and loans coming due in 2019.
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IL&FS Group reported losses before tax of 21.1 billion rupees in the year to March 31
The rupee has sunk 11.6 percent so far this year versus the U.S. dollar, set for its worst annual performance since 2011.
The shares plunged as much as 7.1 percent and were trading 4.9 percent lower at 344 rupees as of 10:26 a.m. in Mumbai.
RBI’s deadline to restructure $51 billion of stressed loans expired on Aug. 27, driving at a dozen companies into bankruptcy.
A rebuff from the regulator may set Asia’s richest banker Uday Kotak on a $17 billion acquisition trail.
A bewildering array of digital payment businesses from. Facebook Inc.’s WhatsApp to Google are in a slugfest to win Indian users.
Adani Power is said will take over about Rs 3,800 crore loans out of a total of Rs 5,800 crore that GMR Chhattisgarh owes.
Rising jet fuel prices have eroded cash and inflated its total debt to 55.4 times earnings before interest and tax as of March.
Jet Airways said that its servicing all loans on time in spite of surging fuel prices.
Despite the latest reduction, Kotak’s equity ownership in the bank is unchanged at 30 percent.
“India needs fewer, better capitalized, and better run public-sector banks,” Venkatesan said in a recent interview.
Indian companies have been involved in deals worth a record $97.6 billion this year.
U.S. regulator’s queries center on alleged conflict of interest, misrepresentations in ICICI bank’s accounting.
This $1.5 billion India wager that went horribly wrong began with a tantalizing offer.