The non-bank lender will be looking to get its share in the fast growing but a crowded two-wheeler financing market, a decade after its parent Mahindra & Mahindra entered the highly competitive industry through the acquisition of select assets of Kinetic Engineering.
Experts claim that about 60-65% of offshore payables still unhedged
Size of unhedged positions are estimated at around $60-65 billion in March.
About 27,000 retired RRB employees are set to gain from this verdict, which the bank association torch bearers dubbed as historic. RRB’ current cumulative manpower is 95000.
The Hyderabad-based entity has also chalked out plans to have footprints in Tamil Nadu, Gujarat, Assam and Tripura
Rs 70,000-1L crore more may be needed to meet demand; RBI, banks seek at least 2 weeks time to plug gaps
If the entire shortfall will be met by pumping Rs 500 currencies only, it will take at least two weeks for the two mints that print these notes.
KKR, which was the largest shareholder in Magma with 16% interest, sold 10% to local MFs.
The lenders with a cumulative exposure of Rs 325 crore in Nicco Corp had to take about 40% haircut going by the reserve price of Rs 232 crore when the liquidation was announced on a slump sale basis.
Trading of PSLC was introduced in 2016 and FY18 was the first full year of its use.
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