The working capital requirement can rise by 28 per cent to Rs 11.2 lakh crore in FY23, compared to Rs 8.7 lakh crore in FY22, amid the war conditions, considering the significant price run-up in commodities, falling rupee and borrowing costs, it said.
The National Company Law Tribunal’s (NCLT) Kolkata bench on Monday declared the allotment of shares by the company in favour of the promoters void. The NCLT also pronounced the purchase of company shares by the promoters from Lodha null and void. These transactions took place way back in 1987 and 1988, respectively.
Dr. Bhagwat Kishanrao Karad, MoS - Ministry of Finance, Government of India will deliver the inaugural keynote address at ET Future of Money Summit 2022, scheduled for July 26-27. Other prominent speakers include Rajesh Bansal, CEO, Reserve Bank Innovation Hub (RBIH), Sanjeev Sanyal, Member, EAC PM, Nilesh Shah, MD, Kotak Asset Management Co, and Nithin Kamath, CEO and Founder, Zerodha.
On the first day of ET Future of Money Summit, top leaders and experts will focus on the theme of financial inclusion, women and money, fintech startup innovations, digital assets, role of blockchain and CBDCs.
Rupee has lost 6.77% to the greenback this year, ranking seventh among Asian currencies. But the rupee has fared much better against other major currencies. It has gained between 3% and 10% against the Euro, Pound and the Yen this calendar year.
“Rupifi is committed to cementing our place as a B2B payments innovator and continuing to help our customers gain competitive advantage,†said Anubhav Jain, co-founder and CEO. The company is backed by Tiger Global, Bessemer Venture Partners, Quona Capital and Ankur Capital.
At Day 2 of ET Future of Money Summit, watch out for insights on digital payments economy, the transformations in the banking and wealth management, and the role of Web3 in defining the future of finance.
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.
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.