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Government plans debt waiver for 'small distressed borrowers' under insolvency law

Sunday, August 18, 2019, 4:35 PM

The government plans to give debt waiver for "small distressed borrowers" under the insolvency law framework, according to a senior official. The proposed waiver would be offered as part of 'Fresh Start' provisions under the IBC. Corporate affairs secretary Injeti Srinivas said discussions have been held with the microfinance industry regarding criteria for the proposed waiver for small distressed borrowers from the EWS.
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Spandana Sphoorty raises Rs 360.28 crore from 18 anchor investors

Saturday, August 3, 2019, 8:20 AM

Spandana Sphoorty Financial, a micro lender, said it has raised around Rs.360.28-crore from 18 anchor investors at the upper end of the price band at Rs.856. These investors include Wells Fargo Emerging Markets Equity Fund, Florida Retirement System, Bajaj Allianz Life Insurance company among others. The offer of 93 lakh shares, including by early stage investors and by Padmaja Ganjireddy is open between August-5,7.
 

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