The $680 million is the amount Industrial & Commercial Bank of China Ltd. is seeking to recover from the former Indian billionaire by invoking what they say is a personal guarantee he gave in 2012 to secure a $925 million loan for Reliance Communications Ltd., his mobile services firm that's now in bankruptcy.
Nearly nine-tenths of DHFL's Rs 84,000 crore($12 billion) in borrowing is secured against assets.
The government should see the folly of effectively turning the telecom industry into a two-horse race between Reliance Jio Infocomm Ltd., controlled by Mukesh Ambani, the richest Indian, and Bharti Airtel Ltd., which, too, is staggering under a mountain of debt.
In early September, CEO Ravneet Gill told Reuters that Yes was in "fairly advanced level of talks" with a top global technology company for a stake sale.
After a period of rehabilitation, Infosys should be able to deliver all three targets: sales growth, margins and good governance. Some private time could be just what it needs to get fixed.
To similarly make bite-sized finance sustainable, account aggregators are coming. They'll digitally record a consumer's transactions with various institutions and, with consent, share data with a lender.
A year after the collapse of IL&FS Group, a specialist infrastructure financier, the crisis of confidence is getting worse.
Highways can act as a powerful stimulus by creating new construction jobs, spawning fresh orders for excavators, graders and rollers, and putting spending money in the hands of people whose land is getting acquired.
The new round of consolidation will bring down the number of state-run banks to 12 from 27 just a few years ago.
A $22 billion reduction in net debt (to reach zero) will require more than Aramco's cash.
On Wednesday, the government said it would amend the 2016 insolvency law, a signature reform of Prime Minister Narendra Modi's first term. Investors will cheer.
The Securities and Exchange Board of India, or SEBI, has always been suspicious of the source of capital for hedge funds investing in India from Singapore or Hong Kong.
Tax collections last year were a full 1 percentage point of GDP lower than the 7.9 per cent the government had hoped to obtain.
From consumption and private investment to exports, no cylinders are firing. Government spending is therefore the only hope.
A standoff over the government's intentions was temporarily resolved by pushing to a panel of experts the question of whether the RBI had excess capital and could return some of it to the finance ministry.