Economic Times:
1) Overseas corporate bond sales, which nearly halved through 2020 despite global yields slumping to the floor, could revive next year as Indian companies regain sufficient confidence in the broader reconstruction to seek debt capital at global financial hubs that are facing a liquidity glut.
2) The pandemic has led to a surge in the adoption of cash withdrawals through Aadhaar enabled Payment Systems (AePS) that have doubled since last year, replacing the age-old dependence on teller machines where transactions halved in the same period.In November, 68.4 million withdrawals worth ₹18,820 crore were processed through AePS channels against 39 million worth ₹9,778 crore in the same period last year.
3) DEBT RESOLUTION:IL&FS to Sell China Road JV to PingAn for ₹2,074 cr.The group has also received approval from Supreme Court Justice (Retd) DK Jain to sell its Chinese JV Road Asset Chongqing Yuhe Expressway Co Ltd (CYEC) to PingAn.
4)RBI Wednesday issued a note of caution to the public against the use of “unauthorized” lending apps, citing recent media reports on unethical collection practices at some financiers and the arbitrary interest rates being levied by a section of these lenders.
Financial Express:
1) The governor of RBI held meetings with the chiefs of public sector banks and some private banks on Tuesday and Wednesday, respectively, through video conference.At the meetings, governor asked banks to strengthen their capital and provisioning positions, as also their ability to lend and contribute to financial stability.
2) A consortium of lenders led by Union Bank of India sought bids to replace the concessionaire in the four-laning of a road project in Maharashtra.The current concessionaire is Supreme Manor Wada Bhiwandi Infrastructure, which has defaulted on loans worth Rs 164 crore to UBI.
3) HDFC, which on Wednesday signed a pact with the Indian Green Building Council (IGBC), said its green housing retail loan book has crossed the Rs 14,000-crore-mark across 310 certified green buildings.
4) State Bank of India is offering trade finance solutions and services to Israeli corporates to help them tap business potential arising out of recent Abraham accords leading to normalisation of ties between Israel and Arab states.
BusinessLine:
1) RBI’s latest draft on the declaration of dividends by NBFCs may help them in strengthening their balance sheet by improving leverage ratios and creating a buffer and surplus for fresh lending. RBI’s move will also help NBFCs in creating better provisioning against the delinquent assets.
2) Race for DHFL heats up.While Oaktree Capital’s bid of about ₹36,700 crore seems to be higher in terms of net present value, Piramal Capital and Housing Finance Ltd is offering higher upfront cash of ₹13,000 crore.
3) Retro tax flare-up: India loses Cairn case.FinMin says all options against $1.2-b arbitration award to be considered.
4) NHA to take a relook at health packages under Ayushman Bharat programme.It is studying ways to extend affordable health insurance to the middle income group.
BusinessStandard:
1) The confidence level of chief financial officers over the overall financial and macro-economic conditions in the country reached an all-time low for the October-December quarter, says a report.
2) Direct tax professionals have sought extension for tax audit report, income tax returns for audit cases and time limit for AGMs in the wake of the ongoing pandemic scenario.
3) Union Minister Nitin Gadkari will on Thursday inaugurate and lay foundation stones for highway projects worth Rs 8,341 crore in Rajasthan.These projects are for a total length of 1,127 kms.
4) Demand for retail credit makes a comeback in November: CIBIL report.Although year-on-year growth across key metrics has yet to reach pre-pandemic levels, there has been positive momentum for credit demand.
Live Mint:
1) Banking system liquidity on the slide due to advance tax outflow.As of Monday, the banking system liquidity was at a surplus of Rs 4.95 trillion, as against Rs 6.13 trillion a week earlier, on the eve of the deadline for the third instalment of advance tax.
2) India has proposed to help the World Food Programme (WFP) replenish its foodgrain stock from overflowing state-owned granaries to assist the organization’s efforts in providing food to the most vulnerable global population.
3) Lenders to Future group have agreed to recast its loans under the RBI’s one-time restructuring scheme as the deal with Reliance Industries Ltd remains mired in a legal spat.The lenders led by SBI have already invoked the debt recast scheme well within 31 Dec.
4) Govt to release next deposits of PM-KISAN on 25 December amid farmers' protest.The govt will transfer more than ₹18,000 crores to over 9 crores beneficiary farmer families on 25 December
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