BANKING

RBI has shortened the timeframe for classifying wilful defaulters. Banks now have six months to complete the process. This decision aims to prevent asset value decline. The process involves internal committees and hearings with borrowers. Borrowers deliberately delaying proceedings prompted the RBI's action. This move protects lenders and maintains financial stability.

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BANKING

The Indian government is injecting Rs 500 crore into IFCI to bolster its financial standing before a planned restructuring and consolidation. This capital infusion, approved by Lok Sabha, increases the government's stake in the loss-making IFCI beyond the current 71.72%. The restructuring involves merging IFCI with StockHolding Corporation of India and other subsidiaries.

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BANKING

Indian wealth soared in 2024. Billionaires' net worth increased substantially. Luxury real estate boomed, with significant domestic and international investments. Indians indulged in high-end goods and experiences. The Ambani family's extravagant events exemplified this trend. Wealthy Indians focused on investments, favoring equity, debt, and real estate. Portfolio Management Schemes yielded high returns. Philanthropy and ESG investments gained traction.

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BANKING

NDR InvIT, India's first warehousing InvIT, secured a groundbreaking $75 million investment from IFC through sustainability-linked bonds. This funding will fuel warehouse expansion, improve infrastructure, and promote eco-friendly practices, including EDGE Certification for existing facilities. The investment reflects the burgeoning Indian warehousing sector's growth potential, projected to reach 500 million sq ft by 2030, driven by ecommerce and manufacturing.

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BANKING

India secures a USD 350 million loan from the Asian Development Bank (ADB) to bolster its logistics sector. This funding, part of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program, will support policy reforms aimed at enhancing efficiency, attracting private investment, and improving supply chain resilience. The program will also promote sustainable economic growth and job creation.

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BANKING

Bajaj Finance helps manage festive expenses. Bajaj Finserv BBPS offers a single platform for bill payments. Bajaj Pay integrates UPI, wallet, and FASTag services. Users can make quick, secure transactions. Cashback and reward programs are available. Enjoy a stress-free festive season with Bajaj Finance.

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BANKING

National Asset Reconstruction Co Ltd (NARCL) has offered ₹12,000 crore for the debt-ridden Jaiprakash Associates Ltd (JAL), sparking a Swiss Challenge auction. A dozen entities, including Phoenix ARC, Acre ARC, Arcil ARC, CFM ARC, Capri Global, and Cerberus Capital, have shown interest. The auction requires all-cash bids, potentially exceeding NARCL's offer, which includes government-backed security receipts.

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