Arun Kumar, founder of Strides Group and OneSource, has secured 1,000 crore by pledging shares. This move refinances existing loans, extending maturities and simplifying repayments. The transaction aims to consolidate smaller borrowings into larger, long-term facilities. It reflects a broader effort to clean up the promoter's balance sheet and shows a decline in pledged shares, indicating deleveraging.
Pakistan conducted strikes in southeastern Afghanistan following the expiration of a two-day ceasefire, hitting Paktika province and areas near the border. This comes after a suicide car bombing in Pakistan, claimed by the Pakistani Taliban, which operates from Afghan bases. Diplomatic efforts are underway, with Qatar reportedly offering to host peace talks.
Hamas has reiterated its dedication to maintaining a ceasefire with Israel, promising to facilitate the return of deceased Israeli hostages. This announcement follows a stern warning from President Donald Trump. The group indicated that some of the bodies are interred within collapsed tunnels.
An international vote to approve a global carbon pricing system for maritime emissions was delayed by a year after the United States threatened sanctions against supporting countries. The London-based International Maritime Organization (IMO) postponed the decision following opposition from the US and some oil-producing nations, citing economic concerns.
Small finance banks faced profitability pressures in the second quarter due to higher credit costs and expenses. AU Small Finance Bank saw a dip in net profit, while Ujjivan and Jana reported significant drops. Lenders expressed confidence in improving credit quality from unsecured business in the coming quarter.
In what it calls a strategic branch optimization, BMO also plans to open 150 banking locations over the next five years, with a focus on expanding in California.
