​Large banks (individual or consortia) can develop digital interfaces connecting all the players in the supply-chains. Such platforms can enable seamless end-to-end journeys that cover procurement, invoicing and financing. For large banks, especially the public sector, this gives an opportunity to enter the digital era.
The transaction includes acquisition of 99.96 per cent stake in IDFC Asset Management Company Ltd and 100 per cent shareholding in IDFC AMC Trustee Company Ltd.
As per the regulations, Piramal, which already has a promoter stake in a life insurance firm, cannot pick up a similar stake in another life insurer. Pramerica Life Insurance Limited (PLIL) is promoted by Piramal Group.
Non-dollar currencies like the Euro, British Pound Sterling, and Japanese Yen are included in the foreign currency assets when expressed in US dollar terms. Other parts of the currency reserves saw a growth. It's worth $38.502 billion now, up from $38.502 billion in the week that ended on July 22nd. (RBI) data revealed a $106 million increase in the value of Indian SDRs held by the International Monetary Fund (IMF) during the week.
Many importers had filed the refund claims after the Supreme Court order, but their claims are still stuck. "It is directed that if any IGST amount is collected, the same shall be refunded within six weeks along with statutory rate of interest," Justice NV Anjaria said, while admitting the petition by Louis Dreyfus Company India Pvt Ltd Vs Union of India.
Tax revenues at the end of the first quarter stood at ₹5.06 lakh crore, 22% higher than the same quarter last year. Non-tax revenues contracted by 51.2% in the same period due to 69.4% lower surplus transferred by the RBI to the Centre, pulling down the overall revenue receipts that grew by a tepid 5.2%.
The success of the digital payment story is evidenced by the gross value of over Rs 320 lakh crore in FY21. And going forward, lending is likely to become even more valued given the democratisation of data, and the valuation profile of fintechs is expected to shift from payments to lending, as per the report.
Cerberus Capital lost out to global private equity fund J.C. Flowers & Co as an anchor bidder for Yes Bank's stressed portfolio as it did not own an ARC, unlike J.C. Flowers & Co. ARCION is a joint venture between Apollo Global Management and ICICI Bank.