IL&FS Financial Services approve interim distribution payout

IL&FS Financial Services approve interim distribution payout

IL&FS Financial Services Ltd (IFIN), a subsidiary of the IL&FS Group, has announced its approval for an interim distribution payout amounting to $807 crore. This marks the second interim distribution payout made by the company within the current year.

Earlier in February, IFIN had disbursed an interim distribution payout of $3,200 crore to its creditors. With this latest distribution, the cumulative interim payouts by IFIN now stand at $4,007 crore. Of this total amount, $7,573 crore will be distributed among 28 creditors, encompassing public sector, private, and foreign banks. The rem..

IIFCL's FY24 disbursement surges 62% to Rs 223.56 bn

The state-owned India Infrastructure Finance Company announced a disbursement of Rs 223.56 billion in the fiscal year 2023-24 (April-March), marking a 62% increase compared to the previous year. This surge indicated a heightened demand for longer tenure financing within the infrastructure sector. As of March 2024, the cumulative disbursement on a consolidated basis amounted to about Rs 1.48 trillion.

During a post-earnings press conference, Padmanabhan Raja Jaishankar, the Managing Director of IIFCL, stated that the proportion of completed and operational assets had been steadily g..

Biden's Tariffs Signal U.S. Trade Policy Shift

In a significant move signaling a strategic shift in U.S. trade policy, President Joe Biden has announced new tariffs targeting a range of Chinese clean tech exports. This move comes amidst a backdrop of increasing tensions between the world's two largest economies and a growing emphasis on decarbonization efforts globally.

The escalation of tariffs, particularly on goods such as Chinese electric vehicles and solar cells, underscores Biden's aim to address both climate change and the need to reduce dependency on Chinese manufacturing. While some may view these tariffs as primarily symb..