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Loan portfolio of microlenders reduced by 2.3 per cent quarter-on-quarter to Rs 4.32 lakh crore in April-June while NPAs surged, a report said. Notably, for the last few months, microfinance institutions, banks and small finance banks which extend MFI loans, have been reporting challenges on this portfolio, and the regulator has also flagged the same. Over-leveraging among the borrowers is being flagged as a key aspect, impacting asset quality. The report by Crif High Mark, a credit information company said, there was 17.2 per cent increase in the borrowers having more than five active loan accounts in June when compared with the year-ago period, with highest growth seen in West Bengal and Karnataka.

Go First's lessor Accipiter Investments Aircraft 2 on Tuesday moved a contempt plea in the Delhi High Court against the airline for failing to share all the documents related to its leased aircraft. These documents included technical records, aircraft status documents, and records required to ascertain the airworthiness of the aircraft. While noting down the airline’s resolution professional’s (RP) stand that he had shared all the records, the HC further directed him to supply by November 30 all the documents to Accipiter and also file a compliance report in this regard. The case will be next heard in January.

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Triveni Engineering & Industries Ltd, which makes sugar and engineered-to-order turbo gearbox, has entered into Indian-Made Foreign Liquor (IMFL) business with launch of premium whisky brands in Uttar Pradesh. In a regulatory filing on Tuesday, Triveni informed that it has launched premium and super premium whisky brands 'Matsya Triple Reserve Blended Whisky' and 'The Crafters Stamp Rare Artisan Blended Whisky', respectively in Uttar Pradesh. «The current annual production capacities for these brands are 1,35,000 liters and 4,20,000 litres, respectively. Both whisky brands have been launched across 25 districts of Uttar Pradesh in July 2024,» it said. Triveni plans a roll out across the state by FY'26, covering over 5000 retail outlets.

Subscribe to enjoy similar stories. MUMBAI : You can transfer your mutual fund (MF) units from one demat account to another, either to your own or to those belonging to your family members and friends. However, this is an extremely cumbersome and paper-driven (offline) process with no online alternative.

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Ambuja Cement on Tuesday announced that it will acquire Orient Cement Ltd (OCL) at an equity value of Rs 8,100 crore. Additionally, the cement giant make an open offer to acquire additional 26% stake. «Within 3-4 months, the Open Offer shall be completed in accordance with the provisions of the SAST (Substantial Acquisition of Shares and Takeovers) Regulations. The Open Offer is being made at Rs 395.40 per equity share, which has been determined in accordance with SAST Regulations,» informed the company through stock exchange filing. Shares of both the involved cement players were trading in the green after the announcement of acquisition deal. Ambuja's shares went up 1.49% at Rs 580 while shares of Orient Cement were trading at Rs 358.25, up 1.65% as of 9:20 am.

small cap multibagger stock Grovy India are likely to remain in focus today as the company had fixed October 22 as the record date for the purpose of its 3:1 bonus share issue. “This is to inform you that the Company has fixed Wednesday, 23rd October, 2024 as the Record Date for the purpose of ascertaining the shareholders eligible for allotment of Bonus Shares in the ratio of 3:1, i.e. 3 (Three) Bonus Equity Shares of Re. 10/- each fully paid-up for every 1 (one) existing Equity Share of Re. 10/- each held as on the above mentioned record date,” the company said in a filing to the stock exchanges.

Wall Street Journal and the New York Post filed a lawsuit in a US court on Monday against AI company Perplexity AI, alleging massive copyright infringement and trademark violations. Perplexity is one of Silicon Valley's hottest startups, whose AI powered search engine is often mentioned as a potential disruptor to Google. The lawsuit in a federal court in New York accuses Perplexity of illegally copying and reproducing copyrighted content from The Wall Street Journal and the New York Post to power its AI-driven «answer engine.»

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ICICI Bank has alerted its customers about an increasing number of parcel fraud scams. These scams involve criminals using psychological tactics to trick people into giving away sensitive personal and financial information. In an email to customers, ICICI Bank explained that scammers pretend to be from the Customs Department or the Police. They contact their targets through phone calls and claim that a parcel in their name contains illegal substances like narcotic drugs. The bank stated, «Scammers use psychological tactics during the calls to threaten the victims and obtain their personal information such as Bank/Card details. They make the victims believe that they are being digitally arrested and ask them to share their sensitive/personal information. They also ask the victims to initiate money transfers to a fake RBI Account and provide their Aadhaar numbers and other identification details apart from the Bank information to steal the money.”

West Bengal Chief Minister Mamata Banerjee and agitating junior doctors on Monday lasted nearly two hours, discussing various demands of the medics, including the prevailing "threat culture" in the state's hospitals, to resolve the impasse stemming from the rape and murder of a doctor at RG Kar Hospital in August. During the talks, held on the 17th day of a fast-unto-death by some protesting doctors, which was streamed Live for the first time from the state secretariat-Nabanna, Banerjee urged the junior doctors to end their fast, stating that most of their demands had been addressed, while rejecting the one on removing the state health secretary. Although both sides agreed on the prevailing threat culture, they differed on the underlying premises, forces, and situations that promote it. «At RG Kar Medical College and Hospital, several junior doctors and medical students were suspended without following proper procedures and rules. How can these students or resident doctors be suspended just on the basis of complaints? Who gave the college authorities the right to take such a step without informing the state government? Isn't this a threat culture?» the chief minister said.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Sanjay, a marketing professional, is thrilled to receive a job offer from his dream company. He has been offered the desired designation and a 30% salary hike. He quickly calls his parents to share this exciting news and inform them that he will accept the offer. His father, a chartered accountant, insists that Sanjay carefully vet the cost-to-company (CTC).

JM Financial will be in focus on Monday after the company on Friday announced that the Reserve Bank of India has lifted the restrictions placed on its subsidiary, JM Financial Products Ltd, that prohibited it from engaging in any business related to funding for shares and bonds due to regulatory violations and governance issues. «We wish to inform you that the RBI, vide its letter dated October 18, 2024, has lifted the restrictions imposed by it on the company (JM Financial Products Ltd) through its order dated March 5, 2024,» JM Financial said in a regulatory filing.

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Reliance Infrastructure have approved the company's plan to raise Rs 6,000 crore through preferential issue of shares and qualified institutional placement (QIP) route. Both proposals have received shareholders' approval, with over 98 per cent voting in favour of the resolutions via postal ballot, the company informed in a stock exchange disclosure. Reliance Infrastructure's board, on September 19, had approved a Rs 6,000-crore fundraise plan. Of this, Rs 3,014 crore was to be raised through preferential allotment of shares or convertible warrants, while Rs 3,000 crore will be raised by QIP. In the first phase, Reliance Infrastructure is launching the Rs 3,014 crore preferential placement by issuing 12.56 crore equity shares or convertible warrants at an issue price of Rs 240 per share.