News digest: Essar Steel bid, stock markets, crisis-hit NBFCs, and more

Banks can lend more to cash-strapped NBFCs

In a bid to increase liquidity for cash-strapped non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) on Friday announced regulatory relaxations, giving banks room to lend more to NBFCs and housing finance companies (HFCs). Read More...

Stock market falls as NBFCs take a beating

1% for a second straight trading session as stress in the financial sector continued to weigh on investor sentiment. Read more...

ArcelorMittal is highest bidder for Essar Steel

ArcelorMittal on Friday emerged as the highest bidder for Essar Steel, the company said in a release to the Luxembourg stock exchange. Read More

Fairfax infuses Rs 4.4 bn into CSB

Prem Watsa-promoted Fairfax India Holdings Corporation infused Rs 4.40 billion into Catholic Syrian Bank (CSB) on Friday, ending the six-month wait. Read more

India’s richest brothers and how they grew $41 bn apart

Over the past year, the fortunes of the two brothers at the helm of India’s wealthiest dynasty have grown apart — to about $40 billion apart. Read more

OMCs look to raise $1.4 bn in first tranche

State-run oil-marking companies have decided to raise around $1.4 billion in the first tranche, following the Reserve Bank of India’s (RBI) recent decision to ease rules for raising foreign currency loans overseas. Read more