Under this mechanism, both the fund and the target company agree on the final purchase price using the target’s most recent audited financial statements, and there are no post-completion adjustments.

The International Finance Corporation (IFC) is planning to double its investments in India and support Indian companies in their global expansion plans. IFC, which is the largest investor in India, has been investing $1.3-$1.5bn annually in the country since the onset of the Covid-19 pandemic and could increase this figure to $2.5-$3bn annually.

National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments.

The NPCI reportedly said that using prepaid payment instruments (PPIs) - gift cards, wallets, among others - for transactions through UPI will attract an interchange fee of up to 1.1 per cent starting April 1. The charges will be levied if the transaction is more than Rs 2,000, it said.

Analysts including Morgan Stanley and Citi said that the NPCI's latest guidelines on interoperability significantly improve the salience of wallets and open avenues for additional revenue for Paytm Bank. The company Monday announced that its full KYC wallet customers will be able to make payments on every UPI QR code and online merchant where UPI payments are accepted.

The money raised will be deployed in equity, debt capital and hybrid instruments across sectors, a statement from Kotak Investment Advisors (KIA), the arm of the private sector lender, under which the fund comes, said. The overall targeted amount for the second fund, which will be domiciled in the GIFT City, is USD 1.6 billion.

The administrator is proposing to hold an auction amidst stiff resistance from Torrent Investments- one of the bidders for the Anil Ambani-promoted finance company undergoing insolvency proceedings.

Lenders of bankrupt Reliance Capital fear their loan recovery could fall below the liquidation value of `12,500-13,000 crore for the financial services company since both bidders, Hinduja Group and Torrent Investments, are reluctant to improve their offers, bankers dealing with the matter said.

The plan of debt-ridden Reliance Capital's lenders to conduct a second round of auction has hit a roadblock, as bidders are apparently not inclined to another round under the insolvency resolution process. The apex court has listed the matter regarding the second auction for a hearing in the month of August.