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The Congress on Tuesday slammed the SBI's reported decision to convert its outstanding debt into equity in Supreme Infrastructure India Limited (SIIL), urging the Reserve Bank of India to step in and examine SBI's decision-making process in this matter. Congress general secretary in-charge communications Jairam Ramesh shared on X a media report which claimed that the State Bank of India (SBI) will take a dual role in the debt restructuring of defaulter SIIL with the country's largest public sector bank transitioning from being SIIL's primary creditor to becoming an equity stakeholder. "In an extraordinary move, the SBI has decided to convert its outstanding debt into equity in Supreme Infrastructure India Limited (SIIL), a firm that declared bankruptcy. The lendors, including SBI, took a 93.45% haircut on the debt," Ramesh said on X. "This arrangement creates a dangerous precedent in India's corporate debt landscape - it encourages other defaulting companies to seek similar deals, .
During the financial year 2024, a total of 27.4 million MSME loans were sanctioned, amounting to Rs 54.2 trillion. This marks a growth of 19.3% in volume and 5.4% in value
Market volatility is inevitable; staying focused on long-term goals is key to navigating it successfully
Other major holdings in his portfolio encompass ITC (down 3%), VIP Industries (down 7%), Infosys (down 1.5%), Grindwell Norton (down 3.5%), Cummins India (down 13%)
The benchmark Sensex hit a new all-time high of 76,738.89, while the Nifty50 surpassed the 23,300-mark to reach 23,338.70
Poll jitters, rich valuations to blame for market's muted May show
Markets are going through a major shift in style and leadership, akin to the 2003-08 bull run
Fund will invest in 'high-growth companies with strong potential', says venture capital firm
MOPW's recommendations suggest a cautious yet optimistic approach to equity investing. They believe that Large Caps are a good value proposition at present, but recommend a more measured approach
The start of a new year is also a good time to make bets on stocks that have been laggards and could potentially see a turnaround in their fortunes next year
According to CIOs and Portfolio Managers gathered at the Franklin Templeton APAC Investor Forum 2023, opportunities can also be found in mid-cap and small-cap growth businesses, which are undervalued
Investors who can't set up and rebalance a diversified portfolio could consider hybrid funds
People moving from fixed-income should use them as a stepping stone into the equity markets
US markets have seen significant corrections in the last 18 months and 10-15% allocation to US equities in a staggered way can be a prudent diversification, says Ajit Deshmukh, Equirus Wealth MD
A quality-oriented flexi- or multi-cap can play a similar role in your equity portfolio
This is essential to combat the high inflation in cost of education
Currently, the company has partnerships with over 30 university campuses across India, offering over 50 programmes on campus, and has more than 15,000 students enrolled in these programmes.
But avoid becoming excessively conservative as only equities have the ability to produce inflation-beating returns over long term
Adopt an approach that you understand and can adhere to in the long run
The schemes returned 0.2 per cent on average - worse than the 0.3 per cent generated by the benchmark