MUMBAI: Adani Capital Pvt. Ltd, the NBFC arm of the Adani Group, focused on lending to small & micro entrepreneurs, has acquired Essel Finance’s MSME loan business. The business has a secured loan book of approximately Rs 145 crore comprising 1100 customers, a staff strength of 40 professionals and operates out of 10 cities in India. Gaurav Gupta, CEO, Adani Finserve Private Limited said in a statement, “The acquisition complements our existing MSME business and helps us expand to new geographies including Noida and Chennai. The decision to acquire is led by the fact that we operate in similar segments, which is secured lending focused on income-generating borrowers. It is an opportunistic acquisition. Our near term focus is to focus on improvising processes, leveraging technology and enhancing productivity”. As on December 31, 2019, the overall lending book of NBFC and the housing finance business was Rs 1100 crore with the latter contributing Rs 150 crore. The … [Read more...] about Adani Capital acquires Essel Finance’s MSME loan business
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Other than the tax exemption, multinational companies are also hopeful of extension of tax holidays for exports to encourage more foreign inward remittances along with continuing the weighted deduction for R&D spend to encourage local manufacturing. … [Read more...] about Budget 2020: India Inc favours increase in standard deduction, incentives for housing loans
Key points:The flying fox population in Ingham has blown out to 300,000 prompting health fears among some residentsAn emergency helicopter was unable to land at Ingham Hospital, and had to be diverted to the local aerodromeSome parents have threatened to boycott Ingham State School, with a colony increasing in numbers nearby … [Read more...] about Bat ‘crisis’ in Ingham delays emergency helicopter, and parents threaten to boycott local school
SAN FRANCISCO, Jan. 23 (Xinhua) -- San Francisco Mayor London Breed on Thursday launched the first housing program for homeless transgender people in the United States, in an effort to help one of the city's marginalized communities. … [Read more...] about San Francisco launches first housing shelter for homeless transgender people in U.S.
In a statement to the media, the bank said domestic current and savings account (CASA) deposits registered a growth of 8.81% year on year and the share of CASA deposits to total domestic deposits improved to 38.8% as on December 31, 2019 from 36.2% during the same quarter of the previous financial year. … [Read more...] about BoB clocks ₹1,407 cr. loss in Q3 on rise in bad loans