Indusind International Holdings Ltd (IIHL), a Hinduja Group company, submitted a detailed resolution plan early this week, which was tabled before the lenders on Wednesday. Torrent Investments, Piramal Capital and Oaktree Capital, the other bidders in the fray, did not submit detailed plans within the stipulated deadline, the people said.

Paytm Money's bond investment platform has seen a great response from retail investors with over 85,000 people applying for access, according to Varun Sridhar, CEO of Paytm Money. Those logged onto the platform mostly looked at tenures ranging from a few days to 39 years, and across various bond categories.

"Board of Inditrade Microfinance at its meeting held today reviewed the current status and decided to call off the merger on account of inordinate delay in receiving requisite regulatory and statutory approvals and also significant improvement in sectoral opportunities providing ample scope for substantial growth for the standalone business itself and thus it was considered inappropriate at this stage to lose focus on the growth opportunity and pursue the merger which was taking inordinate amount of time and management bandwidth," the company said.

The group is currently undergoing a restructuring process where it will amalgamate its finance subsidiaries, L&T Finance, L&T Infra Credit Limited, and L&T Mutual Fund Trustee Limited with the listed L&T Finance Holding Ltd to simplify the corporate structure and enable greater focus on retail financing.

Rating agencies either rely on publicly available data or withdraw the rating of such borrowers who refuse to disclose financials and other information.

Non-banking finance company L&T Finance Holdings plans to expand its rural business by offering personal loans and loan against property (LAP) to customers in the country's hinterland in a bid to step up margins by enhancing its retail portfolio of assets.

The focus area for the company would be a new business, renewal revenue and bringing down fixed cost, he said, adding new business gives scale not profitability.

The RBI, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled its CoR (certificate of registration), the central bank said in a statement.

The ports-to-power conglomerate owned by Indian tycoon Gautam Adani is mulling whether to convert the original loan into debt with a longer maturity period and has started talking to banks individually about that plan, said the people, who asked not to be identified as the discussions are private.