Business News Live: GIFT NIFTY is giving signals, Indian market may start weak
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SBI is sending chocolates to customers who are likely to default on EMI payments.
State Bank of India (SBI), the country’s largest public sector lender, has launched a unique initiative to ensure timely payment of monthly installments (EMIs) by borrowers, especially retail customers. The bank said that it is sending chocolates to potential borrowers who have defaulted in payment of monthly installments. The bank said in the statement that the borrowers who are planning to default in payment do not respond even after being reminded by the bank. Therefore visiting their house without informing them is a good option. Retail loan distribution is also increasing amid increase in interest rates. In such a situation, this step is being taken with the aim of better loan recovery.
Signature Global’s sales bookings increased by 32 percent to Rs 3,430 crore in the last financial year.
Real estate company Signature Global recorded sales bookings of Rs 3,430.58 crore last financial year, up 32 per cent on the back of strong housing demand. The company will issue its first initial public offering (IPO) on Wednesday. Gurugram-based Signature Global primarily operates in the affordable and middle-income housing segment. The company had recorded sales bookings of Rs 2,590 crore in the financial year 2021-22. On the basis of operational performance, Signature Global’s collections from customers increased to Rs 1,920 crore in the last financial year, from Rs 1,282.14 crore in the previous financial year. The company, backed by HDFC Capital and IFC, will hit the capital market with its IPO on September 20 to raise Rs 730 crore. The IPO will close on 22 September.
GIFT NIFTY is giving signals, Indian market may start weak
Weak signals are being received from the global market on the first trading day of the week. We are seeing softness in the Asian markets. Gifty is also trading with a slight decline in Nifty. Whereas, Korea’s Kospi index is also slipping and trading down. Buying is being recorded in American futures markets. There was excitement in the Indian market on the last trading day of last week. The market closed at all time high. BSE Sensex rose 319 points to close at 67,838.
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