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Phoenix ARC: Phoenix ARC buys two stressed loans from IIFL

It has offered 15% cash and 85% security receipts for the loans that include one project in Noida and another in Jogeshwari, Mumbai. Phoenix ARC was the only participant in the open auction, the source said. Both Phoenix ARC and IIFL spokespersons did not respond to a request for comment until press time Sunday.

Phoenix , Arizona , United-states , Mumbai , Maharashtra , India , Jogeshwari , Kotak-mahindra-bank-sponsored , Icra-ratings , Reserve-bank , Phoenix-arc

Phoenix ARC buys two stressed loans from IIFL, Real Estate News, ET RealEstate

It has offered 15% cash and 85% security receipts for the loans that include one project in Noida and another in Jogeshwari, Mumbai. Phoenix ARC was the only participant in the open auction, the source said.

Phoenix , Arizona , United-states , Jogeshwari , Maharashtra , India , Mumbai , Representative-image , Kotak-mahindra-bank-sponsored , Icra-ratings , Reserve-bank

Sebi seeks report on action taken by rating firms against IIFL Fin & JM Fin

SEBI seeks explanation from rating agencies, Icra Ratings and Care Ratings, for their inaction following RBI's curbs on IIFL Finance and JM Finance Product. The Reserve Bank of India (RBI) banned IIFL Finance from giving new gold loans on March 4 due to lapses in the lending process, and on March 5, it banned JM Financial Product from undertaking any form of business in shares and bond funding. Curbs on the two high-margin revenue streams are expected to impact the profitability of both companies.

India , Mumbai , Maharashtra , Exchange-board-of-india-sebi , Reserve-bank , Icra-ratings , Care-ratings , Exchange-board , Iifl-finance , Sebi , Iifl-fin-amp-jm

interim Budget: Budget 2024: Economists say fiscal numbers look more realistic

Analysts and economists praise the interim Budget's fiscal projections, highlighting the government's commitment to fiscal consolidation. The projected fiscal deficit numbers for FY24 and FY25 indicate that the target of 4.5% fiscal deficit by FY26 is achievable. The net market borrowing in FY25 will positively impact the bond market and 10-year G-sec yields. The higher than expected capex and lower fiscal deficit suggest healthier expenditure quality.

India , Yezdi-nagporewalla , Radhika-rao , Aditi-nayar , Devendra-kumar-pant , India-ratings , Icra-ratings , Interim-budget , Fiscal-consolidation , Fiscal-deficit , Economic-growth

'Growth, welfare and fiscal restraint': Experts laud budget, say fulfils aspirations of women, youth and farmers

'Growth, welfare and fiscal restraint': Experts laud budget, say fulfils aspirations of women, youth and farmers
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Economists laud Budget, say fiscal numbers look more realistic

Analysts and economists have hailed the fiscal projections in the interim Budget, saying the lower fiscal deficit forecast shows that the government, even in an election year, is serious about fiscal consolidation and that the numbers look achievable.

According to Devendra Kumar Pant, the chief economist at India Ratings, the two broad themes of the interim Budget are fiscal consolidation and stepping up focus on agriculture/rural to course correct, to some extent, the differential benefits of the ongoing economic growth that's tilted in favour of upper-income bracket/urban households.

The projected fiscal deficit numbers for FY24 and FY25 suggest that the government is serious about achieving the fiscal consolidation path of 4.5 per cent fiscal deficit by FY26, and given the nominal GDP growth assumption and revenue buoyancy, the target appears plausible, Pant said in a note.

India , Uttam-ghosh-rediff , Aditi-nayar , Yezdi-nagporewalla , Radhika-rao , Devendra-kumar-pant , India-ratings , Icra-ratings , Business-news , Usiness-news-india , Ndia-business-news

State revenue grows 5 percent till November against 17.4 budgeted for FY24: Report

India Business News: The growth rate of the combined revenue receipts of the 16 largest states has fallen by almost 80 per cent to 5 per cent during April-November from t

Mumbai , Maharashtra , India , Bihar , Kerala , Icra-ratings , Business-news , State-revenue , Growth-rate , Fiscal , Combined-revenue-receipts

State revenue grows 5 pc till Nov against 17.4 budgeted for FY24: Report

State revenue grows 5 pc till Nov against 17.4 budgeted for FY24: Report
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State revenue grows 5% till Nov against 17.4 budgeted for FY24: Report

The growth rate of the combined revenue receipts of the 16 largest states has fallen by almost 80 per cent to 5 per cent during April-November. The states have so far borrowed over 37 per cent more than they did last fiscal and given these poor numbers, they will have to borrow heavily this fiscal to service their debt and pay salaries and pensions.

Bihar , India , Mumbai , Maharashtra , Kerala , Icra-ratings , State-revenue , State-revenue-budget , Non-tax-revenue , Tax-revenue ,

States' loan guarantee more than triples since FY17 to Rs 9.4 lakh cr in FY23 - Economy News

States' loan guarantee more than triples since FY17 to Rs 9.4 lakh cr in FY23 - Economy News
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