Thu, Sep 19, 2024 6:37 PM
Sandur Manganese gets Karnataka environment clearance to hike capacity
A Flip by Avya Verma
India's largest private lender HDFC Bank hopes to complete a planned sale of loans worth more than Rs 9,000 crore ($1.08 billion) – its largest to date – by the end of September, three sources aware of the matter said on Thursday. The sources requested anonymity as they are not authorised to speak to media. HDFC Bank did not immediately reply to a Reuters query.
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Religare Enterprises, which is currently a takeover target for the Burman family of FMCG firm Dabur, announced that it has successfully cleared ₹163.75 crore in debt owed to JM Financial Products and JM Financial Credit Solutions. "Upon such re-payment, the company has now become an external debt-free entity," the financial services company stated in an exchange filing on September 19, 2024.
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The larger-than-expected 50 bps rate cut by the US Federal Reserve on Thursday is likely to prompt more Indian companies to explore the offshore debt markets, as foreign loans become cheaper. Fed chairman Jerome Powell delivered the large cut, driven by the US central bank’s increased confidence that the country's long battle with inflation had come to an end.
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