Satya MicroCapital raises Rs 153 crore in equity from Japan s Gojo & Company
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Bhubaneswar-headquartered Annapurna Finance and Kolkata-grown Janakalyan Financial Services are also looking for equity expansion, two people familiar with the matter said.
Arohan Financial Services, one of the top micro lenders, is preparing for an initial public offer later this year.
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Kolkata: Microfinance company
Satya MicroCapital has raised Rs 153 crore in equity from Japan s Gojo & Company Inc in one of the biggest fundraisings by a microfinance firm amid pandemic while at least three others are in the process of raising capital with the market showing signs of restoring normalcy.
India’s central bank is under pressure to step in to keep yields in check after the government surprised bond markets with a bigger-than-expected borrowing plan. That puts the burden on Governor Shaktikanta Das to calm the bond traders when he meets to decide policy on Friday. He’s already had to assuage them that a recent measure to mop up excess liquidity isn’t a step toward changing the RBI’s accommodative policy and the central bank has rejected bids at two auctions of benchmark debt after investors sought higher yields. India will borrow a gross Rs 12 trillion ($164 billion) via bonds in the fiscal year beginning April, Finance Minister Nirmala Sitharaman said on Monday, higher than the Rs 10.6 trillion estimated in a Bloomberg survey. Bonds sold off on the announcement, with the benchmark 10-year yield rising 16 basis points to 6.06 per cent while the 5.15 per cent 2025 bond yield rose 27 basis points.
February 01, 2021
Will assist in infrastructure creation, provide pre-paid smart-metering and enable systems upgrade
In yet another attempt to save loss-making electricity distribution companies (discoms), the Budget has provided for a reforms-based and result-linked scheme, with an outlay of about ₹3.06-lakh crore over five years.
It will assist discoms in infrastructure creation, including providing prepaid smart metering, feeder separation, and upgrading systems, Finance Minister Nirmala Sitharaman.
Reacting to the announcement, “The distribution segment has been the weakest link in the electrical system and providing assistance for infrastructure creation while tying the support to financial improvements is vital for sustainability,” Association of Power Producers (APP) said in a statement.
The Economic Survey was presented against the backdrop of an unprecedented economic situation due to Covid-19. The key number one looks for in the Survey is the expectation of GDP growth rate for the next fiscal year, which is the foundation for the Budget. The Survey is rich in analysis and comparisons with international data, making it an important policy document, as has been the case in previous years. In State of Economy Chapter, it discusses ‘lives and livelihood’, ‘demand and supply shocks’ and analyses the economy using high-frequency data. It projects 10-12 per cent real GDP growth for FY22, mainly due to the sharp contraction in FY21. A 7.7 per cent contraction this year will make it the sharpest GDP fall in post-Independence history, and FY22’s growth the highest in the same period. Taking the mid value of the 10-12 per cent range, an 11 per cent real GDP growth on the face of it appears to be achievable. Along with 4 per cent GDP deflator growth, nominal GD
January 19, 2021
India’s richest billionaire says he has no ambitions to dominate the country’s farm sector. But his other plans may leave an imprint on it anyway.
After weeks of farmer protests, Mukesh Ambani’s Reliance Industries (RIL) announced this month that the company wasn’t going to embark on “corporate or contract farming.” It also promised to ensure its suppliers would always provide farmers a fair deal. The statement aimed to address farmer fears that farm reforms passed last year will exploit them and will benefit large corporations such as Reliance that are expanding in the grocery business.