BANKING

The Competition Commission of India has approved Ontario Teachers Pension Plan Board's acquisition of additional units in Highway Infrastructure Trust and Citrine Inclusion's stake in Utkarsh CoreInvest Ltd. These approvals are necessary for deals exceeding certain thresholds to ensure fair competition and prevent unfair business practices.

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BANKING

Bajaj Finserv chairman Sanjiv Bajaj aims to establish Bajaj Housing Finance as a leading mortgage company, akin to HDFC, following HDFC's merger with its bank subsidiary. The company plans a Rs 6,560 crore IPO to expand and meet RBI's listing mandate. Focus areas include retail home loans, developer financing, and tech-enabled customer ease.

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BANKING

Russia's trade with India is thriving, with Sberbank handling up to 70% of Russian exports to the country. Trade between the two nations nearly doubled to $65 billion in 2023. Despite Western sanctions affecting other markets, Sberbank has faced no operational issues in India. The bank is actively using Indian payment systems and sees no rupee surplus problems, thanks to increased Indian exports to Russia.

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BANKING

In recent feedback to the RBI, banks have suggested that the regulator impose an additional "run-off factor" of 2% to 2.25% as against the 5% increase prescribed in a recent draft guideline, sources aware of the development told ET. "Some banks have also proposed a gradual increase of three years in maintaining the liquid stocks under the new LCR (Liquidity Coverage Ratio) norms. They have requested a similar proportion of requests for other categories," a banker said on condition of anonymity.

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BANKING

Marc-Andre Blanchard, EVP and global head of sustainability at CDPQ, emphasized the importance of sustainability in driving profits and building businesses. CDPQ, with $452 billion in assets, focuses on sustainable investing to generate returns and foster economic development, particularly in low-carbon sectors, while actively engaging with portfolio companies and stakeholders.

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BANKING

PNB Housing Finance, backed by Carlyle, aims to grow its affordable loan book to ₹15,000 crore by FY27. Currently, the affordable housing sector contributes ₹2,500 crore. The lender plans to shift focus to high-yielding segments and expects its overall loan book to grow by 18% in the next three years.

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BANKING

Lenders to debt-laden Reliance Capital have accused Hinduja Group's IIHL of delaying the resolution plan approved by NCLT for Rs 9,861 crore. IIHL awaits approval from India's DIPP. NCLT has directed RBI and DIPP to expedite this process, with a hearing set for September 19, 2024.

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