10 Dec 2025

The Mormugao Municipal Council recently sealed a private and a public-sector bank in Vasco for failing to pay a total of INR 9 lakh in rent despite repeated reminders. The council used a 'Gandhian' method of offering roses to the bank officials to encourage payment, a tactic previously used successfully elsewhere. The dues are intended for municipal staff salaries. Other defaulters, including government offices, are on notice. MMC emphasized that unpaid rents could lead to further action and relocation of offices until dues are cleared.Read more

09 Dec 2025

Ashoka Buildcon has secured an additional INR 447.21 crore work under its ongoing BMC flyover project on the Sion-Panvel Highway. The extension covers construction of Flyover Arms 1 and 2 at the T-junction near Maharashtra Nagar in Mumbai's M/E Ward, increasing the total project value to INR 1,573.79 crore. The timeline for the entire project has now been extended to 13 January 2028. The order, awarded on a percentage-rate basis, remains a domestic contract and does not fall under related-party transactions. The company had originally won the project as the lowest bidder.Read more

09 Dec 2025

Omaxe Group has fully repaid more than INR 700 crore owed to Samman Capital (formerly Indiabulls Housing Finance) ahead of schedule, using cash flows generated from its projects. The funding facility had supported developments in Lucknow, Faridabad, New Chandigarh and other cities. With the debt now closed, Omaxe said the move strengthens its balance sheet and aligns with its strategy to reduce leverage and improve capital efficiency. MD Mohit Goel and CFO Atul Banshal noted that the early repayment reflects disciplined financial management and the value of the partnership in advancing key projects. The milestone follows strong sales, new capital inflows and steady progress across Omaxe's residential and mixed-use portfolio.Read more

09 Dec 2025

ICICI Prudential AMC, India's second-largest asset manager, is planning a move into private equity to strengthen its investment capabilities in emerging businesses. The company is seeking regulatory approval to acquire ICICI Ventures and is also in talks to launch retirement funds. The firm manages over INR 10 trillion (USD 110.92 billion) in assets and is targeting a valuation of INR 1.07 trillion (USD 11.9 billion) for its upcoming IPO. Prudential will sell around 10% of its stake, with subscriptions open this Friday and closing on December 16.Read more

09 Dec 2025

Wakefit Innovations has raised INR 186 crore from Steadview Capital, WhiteOak Capital, and Capital 2B through secondary share sales, complementing an earlier anchor round that raised INR 580 crore. The Bengaluru-based home-furnishing company is preparing for its IPO worth INR 1,289 crore, priced at INR 185-195 per share, which includes a fresh issue and offer-for-sale. Proceeds are earmarked for new store expansion, equipment upgrades, marketing, and general corporate purposes. With a six-month revenue of INR 724 crore and profit of INR 35.5 crore, Wakefit strengthens its vertical integration and market positioning ahead of going public.Read more

09 Dec 2025

SBI Chairman C S Setty said the bank's mortgage loan portfolio crossed INR 9 lakh crore last month, reflecting sustained demand in the retail segment. He noted that Retail, Agriculture and MSME loans now form 67% of the bank's total portfolio and had crossed INR 25 lakh crore in September. With economic activity improving, SBI has raised its overall credit growth target for the year from 12% to 14%. Setty also pointed to steady growth in gold loans, personal loans and a revival in corporate credit, supported by the Reserve Bank of India's recent repo rate reduction.Read more

09 Dec 2025

Bank of Maharashtra has reduced interest rates on its retail loan portfolio after the Reserve Bank of India lowered the repo rate by 25 basis points to 5.25 per cent. The bank's revised rates, which came into effect over the weekend, now start at 7.10 per cent for home loans and 7.45 per cent for car loans. These are among the most competitive rates currently offered by public-sector banks. The lender said the lower rates are intended to make borrowing more affordable at a time when customers are dealing with a high-interest environment.Read more

09 Dec 2025

The RBI has cut the repo rate by 25 basis points to 5.25%, aiming to support growth amid record-low retail inflation, which fell to 0.25% in October. Borrowing is expected to become cheaper across housing, auto and commercial segments. GDP grew 8.2% in Q2, prompting the RBI to lift its full-year growth forecast to 7.3% despite the rupee weakening past 90 against the USD. Industry experts welcomed the move, citing benefits for affordability, sales momentum and developer funding. They noted that lower EMIs and improved sentiment should boost mid-income and premium housing demand. Overall, the cut reinforces a favourable environment for real estate investment and expansion.Read more

08 Dec 2025

Public sector lenders Bank of Baroda and Bank of India reduced their lending rates shortly after the Reserve Bank of India lowered the repo rate by 25 basis points. Indian Bank also made a minor cut to its MCLR in the week. The RBI's decision marked its first rate reduction in about six months and came with an assurance of providing INR 1 lakh crore in liquidity to stabilise growth amid pressure from steep US tariffs. The latest rate actions are expected to ease borrowing costs for households and businesses and support economic activity.Read more

08 Dec 2025

SEBI has granted in-principle approval for registering Raajmarg Infra Investment Trust as an InvIT, advancing NHAI's plan to monetise national highway assets. Final approval will follow once the trust appoints directors, files financial statements and meets other compliance requirements within six months. Conceived to unlock value from road assets and offer long-term investment options for domestic investors, the InvIT will be managed by Raajmarg Infra Investment Managers Pvt. Ltd., incorporated last month. The investment manager includes major financial institutions such as SBI, PNB, HDFC Bank, ICICI Bank and others. SEBI said the public InvIT structure will ensure transparency, strong oversight and high reporting standards.Read more