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IDBI Bank puts properties of Great India Tamasha Co on sale for non-payment of loan dues

Properties of Great Indian Tamasha Company -- corporate guarantor of Great Indian Nautanki Company -- have been put up for sale for non-payment of loans taken from , and . According to a public notice issued by Bank, the immovable properties, which will be sold through e-auction

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Inflationary pressure to delay recovery of microfinance sector: Ujjivan Small Finance Bank MD Ittira Davis

Runaway inflation, which has clouded India’s economic growth prospects, could delay recovery in the microfinance sector, which is carrying nearly 11% of the sticky loans that have not been repaid for roughly three months, managing director Ittira Davis said. On the sectoral level, Davis said that microfinance lenders are

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LIC Housing Finance hikes lending rate by 60 bps

Mortgage player (LIC HFL) on Monday said it has raised its prime lending rate (LHPLR) by 60 basis points. With this increase, the new interest rates, effective from June 20, on home loans will now start from 7.50 per cent, the company said in a release. "The interest

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Shriram Group plans to add 2,500 employees for merged entity in 18-24 months

Chennai-based Shriram Group, which is in the process of merging its two non-banking financial companies, is planning to hire additional 2,500 people for the proposed entity over the next 18-24 months, a top company official said on Monday. Last year in December, the diversified financial group announced the merger

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Arohan Financial Services in talks with PE funds to raise capital, says MD

Microfinance institution Arohan Financial Services Ltd is in talks with private equity funds to raise capital to support its growth plans, Managing Director Manoj Kumar Nambiar said. Promoted by the Aavishkaar Group, the Kolkata-based MFI is targeting Rs 7,000 crore as funds under management in the current fiscal, including

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Contactless payments grew 6x in last 3 years

The percentage of contactless transactions in total F2F transactions grew by more than 6x, from Quick Service Restaurants (QSRs), other restaurants, food and grocery, and drugstores and pharmacies are the market segments with the most contactless transactions by volume across both debit and credit cards. According to Worldline, while

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A crypto lending app tried to take over a ‘whale’ account to stop it from collapsing the system

The logo of cryptocurrency platform Solana.Jakub Porzycki | NurPhoto via | Getty ImagesDecentralized finance platforms are going to extreme lengths to limit the fallout from a sell-off in cryptocurrencies.Solend, a lending platform built on the Solana blockchain, tried to gain control of its largest account, a so-called "whale" investor

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