At the end of January, credit card outstanding in India stood at Rs 1,86,783 crore.
MMFSL has partnered with Car&Bike and Rupyy for these loans.
Torrent was the highest bidder in the previous round of the auction, which ended on December 21, offering Reliance Capital an upfront payment of Rs8,640 crore.
Incidentally, the Union Budget (on paper) has been rather positive for the capital markets, although that cannot be judged by short term sentiments.
Hinduja Group will increase its stake to 26%.
Any budget needs to be evaluated in the light of the expectations and it must be said that the expectations ahead of Union Budget 2023-24 were quite extravagant (for want of a better word).
Analysts of IIFL Capital Services believe power impact of the budget announcements on the rating agencies sector.

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