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NTPC offers to buy back The government has seen interest is "vulnerable" due to the economic
from global majors like Apple, Samsung contraction, global ratings agency
bonds worth Rs. 4,000 cr and their contract manufacturers to Moody's Investors Service said. The

NTPC Limited has offered to buy back scale up production in India. agency said Muthoot Finance - the
its masala bonds due in August 2021 "I don't have slightest doubt that by third non-bank finance company it
and May 2022. In a statement to the proper scaling of electronic rates - is better positioned because of
BSE, NTPC said that it is proposing a manufacturing alone, we will be able its focus on the gold loans business. A
cash tender offer for rupee bonds modest loan growth and loan sales will
to contribute $1 trillion to the country's
worth Rs. 4,000 crores that have been kitty and that is what I am aiming for help IIFL and Indiabulls maintain
issued by the company in two tranches capitalisation despite the weakening of
and that's what we are sure to
of Rs. 2,000 crore each during August succeed," Prasad said at an Assocham profitability, which will be hurt by
2016 and May 2017. Both these bonds event. credit costs for the loan losses, it
are payable in US dollars. noted. Funding to NBFCs, which had
The bonds due on August 10, 2021 SEBI plans to relax holding been impacted in the past after the
were issued at a coupon rate of 7.375 IL&FS crisis, has been stable courtesy
per cent notes while those due on May limit to 15% portfolio buying by the state-
3, 2022 were at a coupon rate of 7.25 Promoters of listed companies whose ownedlenders to meet their priority
per cent. shareholding falls below 15 per cent sector lending mandates, it said,
and those who do not play any role in adding that Indiabulls will continue to
Both these notes are currently listed on the dayto-day management may get face challenges on funding despite this.
Singapore Exchange Securities Trading to opt out of the 'promoter' category.
Limited (SGXST), the NSE IFSC Limited SEBI put out a public consultation
(NSE IFSC) and the India International paper for proposing changes to the I-T dept to reject tax audit
Exchange (IFSC) Limited (India INX).. reports filed without ICAI
minimum threshold for voting rights for
reclassification of a promoter as a authentication
Prasad: E-manufacturing public shareholder and suggested all Tax audit reports filed by businesses
can contribute $1 trillion promoter entities disclose shareholding risks getting rejected by the Income
even in the case of 'nil' holding.
to GDP Tax department if they are not
authenticated by the Institute of
Communications and IT Minister Ravi 'NBFCs' asset quality
Shankar Prasad said scaling up of elec- Chartered Accountants (ICAI).
tronic manufacturing in the country vulnerable The tax department said that the
can alone contribute $1 trillion to the Asset quality at non-bank lenders IIFL income tax e-filing portal has been
economy. Finance and Indiabulls Housing Finance linked with ICAI's portal for validating

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