PAM Financial News

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Microfinance company Fusion Finance may cease to be a "going concern" if the lenders do not agree to its request for a moratorium on loans for at least a year or if it fails to raise resources, independent auditor Deloitte Haskins and Sells said. «The company's ability to continue as a going concern is dependent on obtaining waivers from demand by lenders for immediate repayment of borrowings for a period of at least 12 months from the balance sheet and / or securing sufficient funds from other resources such as successful sale of loans, rights issue and refinancing of borrowings,» the audit firm said in its note. The NBFC-MFI is negotiating with lenders to get a waiver from the right of immediate repayment for a period of at least 12 months from the balance sheet date. The lenders have so far not waived their right to demand immediate repayment.

Indian economy in 2025. While the outlook remains optimistic, the report, authored by Radhika Rao Senior Economist, DBS Bank and Philip Wee, Senior FX Strategist, DBS Group, highlights both structural strengths and cyclical headwinds.

«We want to know what action government has taken. You will not go below stage 3 without our permission now even if it even if AQI goes below 450 stage four will continue, that's the order we propose to pass. We will hear at the end of the board,» reported Livelaw quoting J Oka to Delhi Counsel. Authorities in India’s capital shut schools, halted construction and banned non-essential trucks from entering the city on Monday after air pollution shot up to its worst level this season.

Kerala Police, a driver from Thrissur has been fined Rs. 2.5 lakh and had his driving licence revoked for obstructing an ambulance. The incident, which occurred on November 7 in Chalakudy, involved the driver allegedly denying the right of way to an emergency vehicle en route to Thrissur Medical College. According to a report by TimesNow, this action has sparked widespread discussions on road safety and emergency response etiquette.

Amazon India is moving its headquarters from the World Trade Centre in the northwest part of Bengaluru to a location close to the city’s airport in a bid to cut costs, according to a report by Mint. The ecommerce and cloud computing giant currently occupies half a million square feet of office space across 18 floors in a 30-floor building by Brigade Enterprises. Amazon’s new office is a 15-minute drive from the Bengaluru airport. It is likely to cost the company a third of the Rs 250 per square feet rent it paid in the WTC office. The relocation will begin in April and be completed by 2026, the report said.

Telangana government has issued orders sanctioning Rs 205 crore for acquiring over 280 acres of land for the development of Mamnoor Airport at Warangal, after GMR Group which manages Hyderabad Airport issued «No Objection» certificate for operation of the aerodrome. According to the GO issued on Sunday, the Airports Authority of India (AAI) in July 2022, informed the state government that it is ready to develop Warangal Airport for A-320 type of aircraft for IFR (instrument flight rules) operations and is ready to bear the infrastructure cost, operational and maintenance of the proposed airport. A master plan has been prepared for the operation of A-320 type of aircraft for which an additional land measuring 253 acres is required from the state government of Telangana, free of cost and free from all encumbrances. The AAI also wanted the state government to take up the proposal and expedite handing over of the required land to the airports body and no objection certificate from Hyderabad International Airport Ltd.

Indigo Airlines issued a travel advisory for passengers owing to fog conditions in the national capital on Sunday. In a post on X, the airlines recommended passengers to allow extra travel time and check flight status before starting their journey. «Fog is currently affecting visibility in Delhi, which may result in slow-moving traffic and delays in flight schedules. We recommend allowing extra travel time and checking flight status before starting your journey. Safe travels!» the post mentioned.

Uddhav Thackeray claimed that Prime Minister Narendra Modi and Home Minister Amit Shah are erecting a barrier between Gujarat and the rest of the country by prioritising Gujarat above other states. «I keep saying, I don't have any issues with Gujaratis or Gujaratis. Those Gujarati brothers and sisters who are watching this, you have been living for several years in Mumbai and Maharashtra. We have never fought. However, between you (Gujarati) and the rest of the country Modi and Shah are building a wall that you need to be careful about,» said Thackeray. The UBT Sena President was addressing a rally at the Bandra Kurla complex on Sunday. He added, «Modi and Shah may go but this wall that is being built would be worse than the German wall. It would take years to break this wall and till then there would be a lot of mayhem. Why are you doing this sin? If you take all our industries and business from here to Gujarat then what do the people in this state supposed to do,» questioned Uddhav Thackeray.

Karad South has only had three MLAs representing it — Yashwantrao Mohite from 1952 to 1980, Vilas Patil from 1980 to 2014 and from 2014 to 2019, former Maharashtra Chief Minister Prithviraj Chavan of the Congress. The constituency has been known as a Congress bastion for several decades which the BJP hopes to change this time. BJP's candidate is Atul Bhosle, who is not a novice in the constituency. Bhosle, whose family runs a sugar factory and a medical college, has contested twice against Chavan since 2014. While Bhosle lost both times, the BJP and Bhosle have been taking confidence from Chavan's declining winning margins and Bhosle's improved performance. In 2014, Chavan got 76,831 votes and won by just 16,000 votes, Bhosle came a distant third. The 2014 elections were interesting as Vilas Patil, the Congress sitting MLA, was denied a ticket in favour of Chavan. The latter contested as an independent and got 60,000 votes.

bilateral talks with President Bola Ahmed Tinubu and interacted with the Indian community. Modi arrived in the Nigerian capital early Sunday on the first trip to the West African country by an Indian prime minister after a gap of 17 years. After concluding his «productive» visit, Modi posted on X, «Thank you Nigeria for a productive visit, which will add strength and vigour to India-Nigeria friendship.» «PM @narendramodi concludes a productive visit in Abuja, Nigeria,» the Ministry of External Affairs (MEA) said in a post on X.

«The fight against climate change has been a defining cause of President Biden's leadership and presidency,» the White House said in a statement ahead of Biden touching down in the Brazilian city of Manaus, in the Amazon. Biden is making his last swing through South America before handing over the presidency to Donald Trump — a climate-change skeptic.

Priyanka Gandhi Vadra on Sunday criticised the ruling BJP for its policies and claimed Maharashtra has been deprived of jobs due to the shifting of some big projects to Gujarat. Speaking at a rally in Maharashtra's Gadchiroli district ahead of the November 20 state assembly polls, she claimed the ruling alliance leaders were trying to divert the attention from real issues and making attempts to polarise the society. Targeting the Mahayuti government in the state over its flagship Ladki Bahin scheme, Vadra said women should vote for a better life and not because they are getting Rs 1,500 a month. The Congress leader also said if the opposition Maha Vikas Aghadi (MVA) comes to power, it will give Rs 7,000 per quintal MSP to farmers for soybean crop.

Prestige Estates Projects Ltd plans to launch housing projects worth Rs 52,000 crore by March next year to encash surge in demand for residential properties. In its latest investors presentation, Prestige Estates has mentioned that the company plans to launch multiple projects in Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR comprising more than 53 million sq ft area with a total sales bookings value of Rs 52,114 crore. According to a transcript of conference call with analysts, Prestige Estates CMD Irfan Razack expressed confidence that the company will be able to meet its sales bookings guidance for this fiscal year at Rs 24,000 crore. During the 2023-24 fiscal year, Prestige Estates clocked record sales booking of Rs 21,040 crore.

Manipur, Congress president Mallikarjun Kharge on Sunday alleged the ruling party deliberately wants the border state to burn as «it serves their hateful divisive politics». Meanwhile, Union Home Minister Amit Shah has cancelled his poll rallies in Maharashtra in view of the escalating violence in Manipur. Kharge said the people of state will never forgive or forget that Prime Minister Narendra Modi left them to fend for themselves and never set foot in their state to heal their miseries. "@narendramodi ji, Under your double engine governments, 'neither Manipur is one, nor is Manipur Safe'," the Congress president said in a post on X.

Retail tomato prices declined 22.4 per cent month-on-month on improved supplies across the country, the Consumer Affairs Ministry said on Sunday. The all-India average retail price of tomatoes stood at Rs 52.35 per kg on November 14, down from Rs 67.50 per kg on October 14, according to an official statement. During the same period, modal wholesale prices at Delhi's Azadpur mandi witnessed a sharper decline of nearly 50 per cent to Rs 2,969 per quintal from Rs 5,883 per quintal, driven by increased arrivals. Similar price corrections were reported from key markets like Pimpalgaon (Maharashtra), Madanapalle (Andhra Pradesh), and Kolar (Karnataka), the ministry said.

His body was left on an ICU bed overnight, as the post-mortem examination could not be carried out after dark. The autopsy was performed the following morning, on Saturday. «As the body was being brought from the morgue, we noticed that the left eye was missing and a surgical blade was lying on the stretcher beside the body,» a family member said.

«Today, we will have a meeting on how to proceed with the funeral. We have not received the post-mortem examination documents yet. Without those, we cannot touch the bodies because if we tamper with the bodies, there could be some legality issues,» ITLF spokesperson Ginza Vualzong told PTI. Accordingly, the bodies have been kept in the local hospital morgue for the time being after their arrival here on Saturday, he added.

Tata Motors is expecting passenger vehicle (PV) retail sales to maintain growth momentum in the ongoing quarter driven by year-end demand, according to a top company executive. As per FADA data, festive demand helped PV retail sales rise 32 per cent year-on-year (YoY) to 4,83,159 units in October. The segment reported a 7 per cent YoY increase to 6,03,009 units during the 42-day festival period this year. In September, PV retail sales had seen a dip of 19 per cent to 2,75,681 units.

The global consultancy firm said in the report that China's economic deceleration, changing consumer preferences and the return of international travel are making growth in the country highly challenging, leading international fashion brands to look to other Asian markets. The firm further added that the global fashion executives rank Asia growth markets as their top sourcing hotspots for the next five years, adding that the regulatory incentives in these countries fuel manufacturer capability building.

Oyo’s founder and CEO Ritesh Agarwal is slated to buy another Rs 550 crore worth of shares to increase his stake in the company, as per documents seen by ET. According to the documents accessed by ET, Agarwal is set to buy Rs 550 crore worth of shares at 42.60 per share, a 45% premium to his last purchase in August 2024. Oyo’s last funding round of $175 million was led by Agarwal who bought $100 million worth of shares. It also included participation from various family offices and private investors such as InCred Wealth, J&A Partners — the family office of Mankind Pharma promoters, ASK Financial Holdings and investor Ashish Kacholia.