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NBFCs), BlackSoil Capital, an alternative credit provider, and Caspian Impact Investments (Debt), an impact investment lender, on Thursday announced that they have received unanimous approval from their respective Boards of Directors to merge through a share swap. This decision paves the way for creating a combined entity uniquely positioned to deliver value to various stakeholders such as clients, shareholders, lenders, investors and employees and boost operational efficiencies. After the merger is complete and regulatory approvals are received, Caspian Debt will be fully integrated into BlackSoil. This strategic amalgamation will position BlackSoil, the combined entity, as one of the largest players in the alternative credit segment it operates in.

₹4 trillion, the RBI conducted repo auctions to inject system liquidity. Irrespective of external flows or government spending, deposit accretion levels are largely a consequence of the monetary policy stance and resultant liquidity actions. What is in banks’ control, however, is the composition of deposits between Casa (current account and savings account) deposits, retail term deposits and bulk deposits.

Realme P2 Pro 5G is scheduled to debut in India on September 13 at 12 PM IST, as confirmed by Realme in an official press release. The phone will be available for purchase through Flipkart as well as Realme's official website, according to a microsite on the e-commerce platform.A promotional image released by the company showcases the Realme P2 Pro 5G in an eye-catching green color, paired with a striking golden frame.

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ONGC, Oil India, Chennai Petroleum Corporation, and GAIL dropped up to 5% on the BSE on Wednesday as crude oil prices continued to decline, reaching their lowest close since December and erasing all gains for the year. Shares of ONGC declined to the day’s low of Rs 309.2, with a fall of 4.2% while Chennai Petroleum Corporation shares dropped 5% to a low of Rs 933.3.

IPO-bound Bajaj Housing Finance aims to expand by diversifying its book and exploring multiple sources of funds, Chairman Sanjiv Bajaj tells ET. Bajaj Finance is not exploring a bank licence, however, he says. Edited excerpts from the interview: What are the challenges you foresee for the housing finance industry considering that banks are also getting in the space aggressively? I think that the opportunities outweigh the challenges, this is when you are growing at 7% and the government is also putting support for the larger economy to grow even faster in the coming years, in addition to the fact that the government is also supporting housing, with housing for all, so the opportunity is very large. The challenges will remain in the locations that you want to grow, the kind of customer segments you enter, if you are building a diversified or a monoline book and sources of borrowing. Therefore, the path that we have taken is to build all this in a diversified manner ( such as home loans, loans against property, developers’ loans), we are not just in one line of lending or borrowing, we have multiple lines for this and have diversified it. This makes up most of the challenges, and we can build up the business in the foreseeable future.

bank data showed. The weighted average call rate (WACR) stood at 6.47% on Tuesday, as against 6.49% the previous day. The WACR is the operating target of the RBI's monetary policy and is supposed to be closely aligned to the central bank's repo rate. The repo rate is currently at 6.50%

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Maharashtra has the maximum IGBC registered projects in India followed by Uttar Pradesh and Gujarat as India has seen a substantial increase in green building certifications, with over 7,000 IGBC-certified (The Indian Green Building Council) projects covering an estimated 1,370 million sq. ft. of built-up area. According to a Savills India research, concept of green leases in India is in early stages but gaining traction due to growing awareness about sustainability. There is a rising demand for sustainable buildings among corporations, especially multinational companies with global sustainability goals.

SJVN Ltd. According to one of the three people cited above, older renewable projects, largely solar, have found it harder to find buyers. "For the projects which have come up in the past one year, the agreements have largely been signed," the person said on the condition of anonymity.

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As of 11 am, the retail and non-institutional investor (NII) categories saw strong demand, with subscriptions at 2.74 and 2.15 times, respectively. The employee-reserved category was subscribed to 11.89 times, while the portion reserved for qualified institutional buyers (QIBs) did not receive any bids.

Vijay Kedia’s portfolio stock Patel Engineering surged 13% in 2 days to a high of Rs 60.71 on BSE today after the company on Thursday had announced that its signed a Memorandum of Understanding (MoU) with RVNL to collaborate on Hydro and other infrastructure projects. “The agreement outlines a framework for collaboration between the Company and RVNL to leverage each other’s strengths and capabilities in pursuing hydro and other infrastructure projects. Under this MOU, both parties will explore opportunities to work together in various capacities,” said the company in a filing to the exchanges.

Namibia is planning to cull 723 wild animals, including 83 elephants, to feed the country amid the worst drought in a century, the New York Times has reported. Nearly half of the country's 1.4 million people are in a hunger crisis. The move aims to provide food and reduce dangerous encounters between humans and wildlife due to scarce resources, the report added. According to Namibia's Ministry of Environment, Forestry, and Tourism, the plan is «necessary» and aligns with the constitutional mandate to utilize natural resources for the benefit of Namibian citizens. The strategy of harvesting wild animals for food is not uncommon. Rose Mwebaza, director of the United Nations Environment Programme's Africa Office, stated, «Well-managed, sustainable harvesting of healthy wild animal populations can be a precious source of food for communities.» Drought is impacting a significant portion of southern Africa. The U.N. World Food Program noted in June that over 30 million people in the region are affected. Benjamin Suarato, spokesperson for the U.S. Agency for International Development, mentioned that droughts are a familiar issue in southern Africa, with several occurring in the past decade, including from 2018 to 2021. However, this particular drought is especially severe and wide-reaching, said Juliane Zeidler, country director of the World Wildlife Fund in Namibia.

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Ganesh Chaturthi, a major Hindu festival, will begin on September 7 and end on September 17 with the immersion of Lord Ganesha’s idol. This festival, celebrated annually on the Chaturthi Tithi of Krishna Paksha in the Bhadrapad month, marks a significant event for devotees across India. The festival involves installing Ganesha idols at homes and worshipping them with devotion. The festival’s timing and traditions highlight its importance as Lord Ganesha, known as Vighnaharta, is worshipped for removing obstacles and ensuring success in new ventures.

monsoon remained active over Telangana, bringing heavy to very heavy rainfall across various districts, including the capital Hyderabad. On Saturday, Hyderabad witnessed heavy waterlogging in some parts of the city, leading to disruption in traffic. Narayanpet witnessed particularly heavy rainfall at isolated spots, while Mahabubabad experienced significant downpours across most areas. Additionally, Warangal, Bhadradri Kothagudem, Khammam, Mahabubnagar, Mulugu, Nagarkurnool, Suryapet, and Wanaparthy were impacted by isolated showers of varying intensity.

Emami Ltd on Saturday announced it has entered into a binding agreement with Helios Lifestyle to acquire the balance 49.6% stake to make it a wholly-owned entity. Emami will pay Rs 177.63 crore for this stake in an all-cash deal. Emami already owned 50.4% in Helios which sells the men’s grooming brand The Man Company and Helios has been a subsidiary of the company. In 2023-24, Helios had a turnover of Rs 183 crore. ET had written about this deal in July. The Man Company is a digital-first lifestyle brand offering head-to-toe range of premium men’s grooming products in categories like fragrances, skin care, hair care, body care and beard management.

The quarterly figure was in line with an ET poll median estimate of 6.85%, slipping from 7.8% in the last quarter of FY24 and 8.3% in the year before. The Reserve Bank of India (RBI) had forecast 7.1% growth for the quarter. However, gross value added, which strips out indirect tax and subsidies, is estimated to have grown 6.8% compared with 6.3% in the preceding quarter. «India was the fastest-growing major economy in the June quarter. Data shows better alignment between demand and supply sides of the economy in the quarter,» said chief economic adviser V Anantha Nageswaran.

Fintech startups are reshaping how large banks conduct business, prompting traditional financial institutions to adapt their offerings to the evolving fintech landscape, according to C S Setty, the newly appointed chairman of the State Bank of India (SBI). “The good thing about fintechs is that they are reshaping the way we do business. An extreme customer convenience-focused approach is something which made the conventional players reimagine the customer journey. Yono itself is an example. I keep saying that we are the largest fintech company and we align our business looking at the fintech environment,” Setty said on Friday at the Global Fintech Fest held in Mumbai. Setty added that SBI is actively seeking deeper integrations with fintech companies.