BANKING

Life insurers face a similar squeeze. The industry paid about ?24,000 crore in GST in FY24, offset by ? 14,000 crore of ITC. With credits no longer available, the new two-rate system leaves them facing a ?15,000 crore sector-wide hit, part of which will show up in company profit and loss accounts and embedded values. Despite the exemption, customers may not see a meaningful drop in premiums as insurers adjust pricing to recoup lost credits, analysts said.

from Banking/Finance-Industry-Economic Times https://ift.tt/PvfTqMR
via IFTTT

BANKING

For years, banks were barred from financing mergers and acquisitions through equity purchases, curbs that were put in place to prevent leverage buyouts. While banks could lend against hard assets such as plants, brands, and factories, they were not permitted to fund share purchases that gave acquirers control of firms.

from Banking/Finance-Industry-Economic Times https://ift.tt/RnzH0CU
via IFTTT

BANKING

International Holding Company acquired a 42 percent stake in Sammaan Capital. This investment will provide stability and operational advantages. Sammaan Capital will expand its NBFC products and offerings. The company will use technology and access a global network. Sammaan Capital plans to achieve an AUM of one lakh crore by 2027. It will prioritize middle and lower-income customers.

from Banking/Finance-Industry-Economic Times https://ift.tt/UxB6aYu
via IFTTT

BANKING

Abu Dhabi-based Avenir Investment RSC, an affiliate of International Holding Company, has agreed to acquire a 43.46 per cent stake in Sammaan Capital for USD 1 billion through preferential share issuance. This significant primary capital infusion marks IHC's entry into India's financial services, aiming to fuel Sammaan Capital's growth and improve its financial standing.

from Banking/Finance-Industry-Economic Times https://ift.tt/CxRU0Q4
via IFTTT

BANKING

The Reserve Bank of India will permit banks to finance corporate acquisitions. It will also remove the cap on large corporate exposures. These regulatory changes are set to unlock significant lending opportunities. Over Rs 5 lakh crore in new credit demand is expected. Banks will fund corporate mergers and expansion plans. This move will reshape India's corporate funding landscape.

from Banking/Finance-Industry-Economic Times https://ift.tt/dlPRFio
via IFTTT

BANKING

Abu Dhabi-based International Holding Co. (IHC) is set to acquire a 40–45% controlling stake in Sammaan Capital Ltd, formerly Indiabulls Housing Finance, for about $1 billion, according to people aware of the deal. The UAE conglomerate, backed by Sheikh Tahnoon bin Zayed Al Nahyan, is expected to make an open offer for an additional 26%, which could raise its ownership beyond 65%.

from Banking/Finance-Industry-Economic Times https://ift.tt/EdnM7SP
via IFTTT

BANKING

The RBI proposed expanding services for basic savings bank deposit (BSBD) accounts, including digital banking, cheque books, and unlimited free digital transactions like UPI. This aims to promote cashless inclusion for low-income customers by March 2026. Additionally, the ombudsman scheme will be strengthened to cover rural cooperative banks for improved grievance redressal.

from Banking/Finance-Industry-Economic Times https://ift.tt/x4opAIk
via IFTTT