Shutdowns will impair ability of gig-economy workers to repay loans of Rs 2.1 trillion, putting the world's largest microfinance industry at risk
Arm-twisting government-controlled State Bank of India to inject capital into failing Yes Bank Ltd. was the only option left for New Delhi.
The budget unveiled by Prime Minister Narendra Modi's government Saturday left virtually every domestic constituency unhappy. My interpretation? Luring overseas investors to high-yielding Indian assets amid a global coronavirus scare is the preferred strategy.
Virtually every industry, from banking and auto to real estate, power and telecom is in disarray. The fiscal space available to fight the slowdown is limited.
Of the 15 firms facing long-contested demands, most have shut down, sold out or ended up insolvent. All eyes are now on Vodafone Idea.
Jeff Bezos is in India at an awkward moment. Just before his visit, the country's antitrust authority ordered a probe into the business practices of its two main American-owned shopping websites. One of them is his.
More loan losses lie around the corner. With 40 per cent of deposits coming from fickle wholesale sources, solvency and liquidity risks are high.
Consumer demand is in the doldrums and government spending - the only thing supporting growth - is bound to be pruned in the closing months of the fiscal year to avoid a budget blowout.
Hundreds of millions were lifted out of poverty; the 1990-91 crisis became the starting point of two decades of rising prosperity.
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.