Though jewellery spending was flat, banks like Axis Bank saw an increase in the total value of purchases in electronics and travel during the festive season. Axis saw a 100 per cent increase in electronics purchases.
Income level in rural areas is gradually increasing, 60% of the data has not been captured.
Tax expenses increased more than ten times to Rs 3,712 crore compared from Rs 347 crore a year ago.
Stock slips to near IPO price as net profit plunges 73%; brokerages slash target price
The insurer has reportedly not delivered the bonds it had sold, yielding 42 per cent on Thursday.
DHFL’s total debt stands at about Rs 84,000 cr and MFs own a small portion of it.
Muthoot Finance plans to use the proceeds for both refinancing and other business purposes.
ICRA expects securitisation volumes to touch an all-time high in this fiscal year.
Even if the bankers agree on a deal under the ICA, it is not binding on funds.
The bank needed to recast roles for top executives after Kaushik Shaparia’s took over as CEO in May this year.
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