13 Sep 2025

The Maharashtra state cabinet has approved an INR 2,000 crore loan from Housing and Urban Development Corporation Ltd (HUDCO) to fund urban infrastructure development across the state. The loan will support water supply and sewage projects in several municipal corporations, including Chhatrapati Sambhajinagar, Nagpur, and Mira Bhayandar. It will also contribute to initiatives under the Amrut 2.0, Swachh Bharat Mission 2.0, and Maharashtra Golden Anniversary Urban Upliftment Mission. The state aims to ensure timely project completion and improve urban services in growing cities.Read more

12 Sep 2025

Kerala has informed the 16th Finance Commission that the state may face a revenue shortfall of INR 8,000 to 10,000 crore due to the GST rate rationalisation that introduces two slabs of 5 per cent and 18 per cent later this month. Of this, about INR 6,300 crore is linked to goods tax, while INR 2,500 crore is expected from losses in the export sector because of higher US tariffs. The state has requested compensation and highlighted its declining share in the divisible pool, which has dropped from 3.87 per cent to 1.92 per cent over successive Commissions.Read more

12 Sep 2025

A meeting chaired by Financial Services Secretary M. Nagaraju brought together leading public and private sector banks, development finance institutions and infrastructure finance companies to discuss critical gaps in infrastructure financing. The discussion highlighted issues such as shortage of funds, barriers to municipal bond issuance, weak data availability on defaults and recoveries, and the need for capacity building. Several recommendations were put forward. NaBFID has been asked to consult all stakeholders and present a detailed report to the Department of Financial Services within 15 days, marking a focused step toward addressing financing challenges.Read more

12 Sep 2025

RBL Bank has set a clear goal to triple its retail assets to INR 6,000 crore by FY26, focusing on expanding retail deposits to 55% of its total deposit base. The bank plans to enhance customer engagement using CRM-led strategies and cross-selling products like credit cards, insurance, and SIPs. With 80% of its current customers holding only one product, RBL Bank sees strong potential to deepen relationships. It also plans to grow gold, home, and business loans while gradually reducing dependence on wholesale liabilities.Read more

12 Sep 2025

Bhubaneswar Municipal Corporation has partnered with a private sector bank to provide support to urban poor beneficiaries under the Pradhan Mantri Awas Yojana (Urban) 2.0. The collaboration aims to simplify banking processes and guide individuals in arranging their equity contribution. A pilot involving 600 beneficiaries has been rolled out, with each required to contribute an average of around USD 1,500 under the 40:40:20 cost-sharing model.Read more

11 Sep 2025

SEBI has issued new rules under the AIF framework that require angel funds to raise capital only from accredited investors. Existing angel funds must align with these rules by early September 2026. During the transition, they cannot offer investment chances to more than 200 non-accredited investors. Funds must have at least five accredited investors before first close, with first close to happen within 12 months of SEBI recording the Private Placement Memorandum. Investment thresholds, lock-in periods, follow-on investment norms, and compliance requirements have also been revised. Angel funds will now be a distinct Category I AIF, and compliance audits will apply to those above INR 100 crore, along with mandatory reporting of valuations and cash flows.Read more

11 Sep 2025

The Nashik Municipal Corporation (NMC) has sent notices to more than 3 lakh property tax defaulters, whose outstanding dues total around INR 400 crore. These dues have accumulated over one to six years. The civic body has a target of INR 275 crore for the current financial year and has already collected INR 125 crore. An amnesty scheme offering up to 95% waiver on penalties was introduced earlier this month. The NMC aims to meet its full collection target to fund its share in the Simhastha Kumbh Mela and ensure financial stability.Read more

11 Sep 2025

The Finance Ministry has instructed Central GST field officers to keep track of price changes in 54 everyday items after new GST rates come into effect later this month. These include daily essentials and household goods such as butter, toothpaste, shampoo, tomato ketchup, ice cream, toys, cement, ACs, TVs, bandages, diagnostic kits, and crayons. Officers must prepare a brand-wise comparison of Maximum Retail Prices (MRPs) and send the first report to the Central Board of Indirect Taxes and Customs (CBIC) by the end of the month, with follow-up reports to be submitted monthly for six months.Read more

11 Sep 2025

Glass Wall Systems (India) Ltd, a major player in the façade and fenestration solutions sector, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The company intends to raise INR 60 crore via a fresh issue of equity shares and an Offer For Sale (OFS) of 4.02 crore shares by existing promoters and investors. The funds will be directed towards establishing a GPU project at its Vile Bhagad facility in Maharashtra and supporting general corporate purposes. With over 150 projects completed domestically and internationally, the IPO is expected to strengthen its market presence and financial position.Read more

10 Sep 2025

India's privately-held infrastructure investment trusts (InvITs) are preparing to enter stock exchanges, with at least four IPOs planned this fiscal year. These listings aim to improve liquidity and broaden investor participation, especially among retail investors, who currently hold just 9% of InvITs. While domestic investors remain cautious due to high entry thresholds and limited awareness, foreign investors dominate the space, particularly in projects with sustainability-linked features. Key trusts preparing for public offerings include TVS Infrastructure Trust, NHAI's road InvIT, Cube Highways Trust, and Anantam Highways Trust, reflecting a growing effort to strengthen capital access in the infrastructure sector.Read more