RBI on March 27 issued certain clarifications on its earlier guidelines on investments by lenders in AIFs, which have further investments in borrower companies linked to the lenders.
Automaker Lucid Group, Inc. (LCID), Monday announced an investment by its majority stockholder, Ayar Third Investment Company, an affiliate of the Public Investment Fund or PIF, to purchase newly created series of convertible preferred stock worth $1 billion.
"The industry association had a meeting with senior government officials and expects some relief or clarity within the next 30 days," said a source at the grouping that represents the interests of private equity and venture funds. The industry has flagged its concerns to the government and the finance ministry is examining these, a senior government official told ET.
"We believe manufacturing and allied industries like auto ancillaries, metals, defense, textiles, capital goods, utilities, logistics, corporate banks etc. will continue to remain under spotlight in the year ahead given the macro and micro tailwinds. We continue to have a favorable outlook for the banking industry, which is fueled by strong growth potential from rising loan growth and falling credit costs. "
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