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HDFC approves retail home loans to the tune of Rs 2 trillion in FY22

India’s largest mortgage financier, HDFC Ltd, has approved retail home loans to the tune of Rs 2 trillion in FY22 so far, signifying the huge demand for home loans in an otherwise subdued credit market. This is the highest ever home loan approval by the mortgage financierin a financial year.

Interest rates for housing loans are, perhaps, at the lowest levels they have ever been and are one of the key reasons why there is a huge demand for housing loans in the market with all lenders, including public sector banks, private sector banks, and housing finance companies competing to offer the cheapest rates to gain market share. The low interest rate is a consequence of the liquidity injected into the system by the central bank to tide over the coronavirus(Covid-19) pandemic.

Rage Coffee onboards Virat Kohli as investor and brand ambassador

Rage Coffee, has onboarded Virat Kohli as an investor and brand ambassador. The Delhi-based FMCG Company that manufactures, markets, and distributesinnovative packaged coffee products This association between the top cricketer with the brand would entrench Rage Coffee as a fan favorite in the market and create a pathway for customer acquisition. Previously Rage Coffee had raised $5 million of growth capital as part of its Series A funding round led by Sixth Sense Ventures in Aug 2021.

Nayara Energy buys Russian Urals crude after gap of 1 year: Report

Indian private refiner Nayara Energy, part-owned by Russia's Rosneft, has purchased Russian oil after a Urals a year, buying about 1.8 million barrels of Uralsfrom trader Trafigura, two trade sourcessaid and Refinitiv data shows.

Indian companies are snapping up Russian oil as it is available at a deep discount after some companies and countries shunned purchases from Moscow due to sanctions against Moscow for itsinvasion of Ukraine. The deal, struck after Russia launched its "special operation" in Ukraine on Feb. 24, involves use of Liberia-flagged aframax Moskovsky Prospect, managed by a unit of Russia's state-run shipping firm Sovcomflot, Refinitiv data show.

I-T searches at Hero MotoCorp CMD Pawan Munjal's premises for 'tax evasion'

The Income Tax Department is conducting extensive search operations at the residential and office premises of senior management of Hero MotoCorp, including its Chairman and MD&CEO Pawan Munjal over alleged tax evasion. Confirming the development, a senior tax official told Business Standard that about 25 locations have been covered since Wednesday morning in Delhi and Gurugram and other parts of north India. Some more locations linked to the two-wheeler giant could be also searched, the official said, while refusing to give further details.

MDH denies any move to sell business to Hindustan Unilever

Leading spice maker MDH Ltd has refuted the reports of a possible sale of its business to FMCG maker HUL. The reports suggested that MDH promoters are in talks to sell their business to HUL. Terming such reports as "completely false, fabricated and baseless", MDH in a message posted on its official Twitter account urged people "not to believe such rumours".

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