- Bad Banks plan back on the table to tackle NPA’s as covid assistance businesses come to an end, The government is considering the idea of bad banks. A bad bank is an entity that purchases non-performing asset (NPA) from banks at market price, clearing the balance sheet, and improving fundraising capabilities. The government is examining the entity-based model – in which acquiring NPA of the entity they support. The final call will be taken close to the budget event.
- India’s Life Insurance industry seeks Tax break on protection this request has been repeatedly set forth by the industry, Insurance penetration in the Indian market is still very low, and lowering the cost will significantly boost the sector. The Life Insurance Council has recently represented both the insurance regulator IRDA and the Finance Ministry to reduce the existing tax rates on protection based product to 5%
- Finance Minister Nirmala Sitharam Chairs review meeting of the National Infrastructure Pipeline This was a second review meeting by the Finance Minister to monitor the accelerated NIP Project. In the meeting, 24 projects worth Rs.80,915 crore under the ministry of Health and Family Welfare and 10 projects worth Rs2,79,604 crore under Department & Ganga Rejuvenation were discussed to Infra spending and annual achieved and targeted expenditures by the ministries.
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- 50% premium cut by Maharashtra Government a masterstroke after the steep, temporary reduction in stamp duty charges, The 50% reduction in premium payment until December 2021 will benefit the supply side in the Realty sector immensely. This will essentially result in a reduction of several premiums that developers have to pay as part of the development of a project. As of date, 22 premiums are collected in Mumbai under various heads — including FSI, staircases, lift well, lobbies, etc. It is a direct incentive for homebuyers too and results in a win-win for developers and end-users
- ICRA on January 6 said slippages from the restructured book of non-banking finance companies (NBFCs) are estimated at 4-6 percent of their total loans. This will keep the overall stressed assets of NBFCs elevated in FY2022 after an increase of up to 200 bps in FY2021.
- Bandhan Bank rises over 3% on growth in Advances Loans and Advances grew by 23% YOY to Rs.80255 crore in the third quarter. The bank total’s deposit increased by 30% Rs. 71,188 crores against Rs. 54,908 in the corresponding last year.
- Tata plans to infuse Rs. 3,500 crore in Tata Cliq Tata Unistore Ltd, which owns Tata Cliq said the board of Directors has recommended an increase in the authorized share capital of the company through the issue of the equity share, considering funding required to enable it to run the business effectively.
- FII and DII data Foreign institutional investors (FIIs) net sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 380.41 crore in the Indian equity market on January 6, as per provisional data available on the NSE.
- Foreign institutional investors (FIIs) net sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 380.41 crore in the Indian equity market on January 6, as per provisional data available on the NSE.
- Warburg Pincus puts $100 million in Indian consumer electronics firm boAt, known for its budget-friendly Bluetooth speakers and wireless earbuds, was last valued at nearly $283 million after a $59.6 million funding round in December. U.S. private equity firm Warburg Pincus has invested about $100 million in India’s boat
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