Platforms like Tyke work in a regulatory grey area with almost no guidelines or rules defining their financial instruments and arrangements. Their transactions resemble public offers of shares but they are not. The platforms behave like a quasi-exchange but they are not licensed to be one.
Shriram Housing Finance had assets under management (AUM) of Rs 7,200 crore at the end of December. Baring PE Asia had previously been among the major contenders to acquire ICICI Home Finance, a deal that didn't materialise.
"This settlement paves the way for restarting the business of RFL and focusing on building a niche in the MSME lending space. RFL will have a healthy balance sheet to sustain business growth in the next few quarters," stated a press release by the company.
In December, creditors to RFL approved settling of their Rs 5344 crore dues to more than a dozen lenders, with an immediate payment of Rs 2320 crore, a 57% haircut. A majority of the settlement has been paid from loan recoveries of the company. Saluja said higher recoveries meant that shareholders of the parent Religare Enterprises Ltd (REL) had to infuse Rs 220 crore which was lower than the Rs 400 crore envisaged in the initial OTS plan.
PTC India Financial Services received full pre-payment of its loan account of Patel Darah-Jhalawar Highway. PFS announce that it has received full pre-payment of its loan account of M/s Patel Darah-Jhalawar Highway for the four-laning of a 48.88 km stretch in Rajasthan.
As per the National Company Law Tribunal (NCLT) order, lenders have to complete the resolution process of Reliance Capital by January 31, 2023.
The Mumbai bench of the National Company Law Tribunal (NCLT) has also allowed the resolution professional's plea to exclude the period during which the application for extension was pending before the tribunal.
SWAMIH Investment Fund I is India’s largest social impact fund aiming to provide priority debt financing for the completion of stressed, brownfield and RERA registered residential projects that fall in the affordable, mid-income housing category. The fund is sponsored by the Ministry of Finance, Government of India and is managed by SBICAP Ventures, a State Bank Group co.
Fintechs like Fi Money, Paytm, Google Pay and PhonPe have a deep understanding of how India’s fast evolving tech stack can be harnessed to the user’s benefit. Along with a cooperative government and regulator, this will allow fintechs to own the future of India’s financial innovation.