Business
RBI doubles housing loan limits for co-operative banks
Taking into account the increase in prices since the housing loan limits were last revised and considering the customer needs, central bank Reserve Bank of India decided to increase the existing limits on individual housing loans by the cooperative banks.
Accordingly, the limits for Tier I or Tier II urban cooperative banks shall stand revised from Rs 30 lakh or Rs 70 lakh to Rs 60 lakh or Rs 140 lakh, respectively, which essentially means doubling of the limit.
The increased limits will apply for Primary (Urban) Co-operative Banks (UCBs), and Rural Cooperative Banks (RCBs) — State Cooperative Banks and District Central Cooperative Banks.
For RCBs, the limits will increase from Rs 20 lakh to Rs 50 lakh for such banks with assessed net worth less than Rs 100 crore; and from Rs 30 lakh to Rs 75 lakh for other such RCBs.
A detailed circular will be issued separately, the RBI said in a statement.
“The 100 per cent upward revision in credit limit for individual homebuyers through cooperative banks will provide increased credit access to homebuyers in suburban areas as well as tier-2/3 cities,” said Samantak Das, chief economist, and head of research and REIS, India, JLL.
According to Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com & Makaan.com: “…the RBI’s announcement to increase the limit for individual housing loans by state and district cooperative banks by 100 per cent is a positive move that will cushion some of the impact of the rate hike. Credit flow to the housing sector is also likely to improve with rural cooperative banks starting to finance residential projects.”
Besides, considering the growing need for affordable housing and to realise their potential in providing credit facilities to the housing sector, the RBI decided to allow State Co-operative Banks (StCBs) and District Central Co-operative Banks to extend finance to Commercial Real Estate – Residential Housing (CRE-RH) within the existing aggregate housing finance limit of 5 per cent of their total assets.
In order to attain harmonisation of regulatory framework across REs and to provide convenience of banking services to the customers at their door-step, it has been decided to permit Urban Co-operative Banks to extend doorstep banking services to their customers on par with scheduled commercial banks.
RBI also proposed allowing linking of credit cards to UPI. To start with, Rupay credit cards will be enabled with this facility.
“This arrangement is expected to provide more avenues and convenience to the customers in making payments through UPI platform. This facility would be available after the required system development is complete. Necessary instructions will be issued to NPCI separately,” the statement said.
All these measures were announced this morning while pronouncing the outcome of the ongoing monetary policy review meeting that started on Monday.
RBI on Wednesday raised the repo rate by 50 basis points to 4.9 per cent to tame rising inflation.
RBI Governor Shaktikanta Das on Wednesday categorically said India’s retail inflation is likely to stay above the tolerance level till third quarter of FY23 before moderating below 6 per cent.
For FY23, RBI sees overall inflation at 6.7 per cent, with 7.5 per cent in Q1, 7.4 per cent in Q2, 6.2 per cent in Q3, and 5.8 per cent in Q4, taking into consideration the normal monsoon and average crude oil basket price of $105 per barrel.
Coming to growth, India’s real GDP growth in FY23 is seen at 7.2 per cent, will 16.2 per cent in Q1, 6.2 per cent in Q2, 4.1 in Q3, and 4.0 in Q4, with risks broadly balanced, Das said.
Business
Adani Ports to acquire Europe’s Evos for 2.56 billion euros in major global expansion

Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday announced the acquisition of Netherlands-based Evos B.V., Europe’s second-largest independent liquid storage operator, in an all-cash transaction valued at an enterprise value of 2.56 billion euros.
Under the agreement, APSEZ will acquire a 100 per cent stake in Evos from Igneo Infrastructure Partners.
The deal values Evos at an equity value of 1.18 billion euros and implies an acquisition multiple of 11.7 times CY25 EV/EBITDA.
The transaction will be funded through debt and remains subject to regulatory approvals and works council consultation.
“APSEZ, India’s largest and one of the world’s fastest growing Integrated Transport Operator, agrees to acquire 100 per cent stake in Netherlands-headquartered Evos B.V. (Evos) from Igneo Infrastructure Partners. The proposed transaction is an all-cash deal at an enterprise value of 2.56 bn euros,” the official statement said.
For calendar year 2025, Evos reported revenue of 392 million euros and EBITDA of 219 million euros, translating into a robust EBITDA margin of 56 per cent.
Following the acquisition, the combined entity’s pro forma net debt-to-EBITDA ratio is expected to stand at 2.76 times and decline to around 2.5 times by FY27.
Commenting on the deal, Karan Adani, Managing Director of APSEZ, said the acquisition marks a significant milestone in the company’s journey toward handling one billion tonnes of cargo and building a truly global integrated transport platform.
“Evos marks an important milestone in APSEZ’s trajectory towards handling 1 billion tons of cargo and building a truly global, integrated transport platform. We are delighted to welcome Evos into our portfolio, giving us significant presence across key global liquid storage and energy hubs,” Karan Adani noted.
“We look forward to partnering with Europe, supporting its sustainable energy transition and creating enduring value while maintaining the financial prudence that underpins our growth,” he added.
Headquartered in the Netherlands, Evos operates 6.3 million cubic metres of storage capacity across eight strategically located port-based terminals in the Netherlands, Germany, Spain, Belgium and Malta.
The company has a presence in major energy and industrial hubs, including the Amsterdam-Rotterdam-Antwerp region, Hamburg and the Mediterranean.
Business
Sensex, Nifty open up to 2 pc higher after US election outcome, falling crude oil

Indian equity markets opened higher on Thursday with benchmarks jumping about 2 per cent each tracking strong global cues after the outcome of the US midterm elections and a sharp decline in crude oil prices.
Sensex opened at 78,910.94, an increase of 1,609.54 points or 2.08 per cent. Similarly, Nifty began the trading session at 24,378.05, up 417.45 points or 1.74 per cent.
In early trade, financial stocks led gains with Nifty Private Bank surging more than 2 per cent. Meanwhile, Nifty Realty gained 1.86 per cent. However, all sectoral indices were trading in the positive territory.
Other sectoral performers, Nifty Cement, Nifty Auto, Nifty IT, Nifty Oil & Gas and Nifty PSU Banks climbed up to 1.82 per cent.
FMCG, consumer durables, metal, media and chemicals also traded in positive territory, rising between 1 per cent and 1.5 per cent.
Market experts said the Nifty continued to maintain its position above the 200-day exponential moving average (EMA) near 23,904, reinforcing a positive technical setup.
“The RSI has climbed to 68.55, indicating strong momentum, although the possibility of near-term profit booking cannot be ruled out,” analysts said. Immediate support is seen in the 24,000-24,200 zone, while resistance is placed between 24,500 and 24,700.
The experts also noted that after the initial reaction to the US election results weakens, there will be concerns surrounding prolonged political conflict in the US, since US President Donald Trump being what he is, is likely to turn Mr Veto rather than lame duck president.
On Wednesday, foreign institutional investors (FIIs) extending their buying streak for a fourth straight session. FIIs were net buyers of equities worth Rs 7,284 crore. Domestic institutional investors (DIIs), however, continued to pare holdings, recording net sales of Rs 3,712 crore for the fourth consecutive day.
Global markets provided additional tailwinds after US equities registered sharp gains overnight. The Dow Jones Industrial Average jumped more than 3 per cent, marking its strongest post-midterm election performance in over four decades. The S&P 500 and Nasdaq Composite also rose more than 1.4 per cent each as election uncertainty faded following a clear Democratic sweep of both chambers of Congress.
Meanwhile, energy markets witnessed heavy selling pressure as Brent crude tumbled nearly 10 per cent to settle below the $100-per-barrel mark.
US Treasury yields also eased, with the benchmark 10-year yield retreating to around 4.89 per cent, further supporting risk assets globally.
Market mood was further supported by easing geopolitical concerns surrounding Iran and a weaker US dollar which boosted appetite for risk assets across global markets.
Business
Weaker Republican showing could reshape US trade policy outlook: Expert

A weaker-than-expected performance by the Republican Party in the US midterm elections could reignite debate over the future direction of American trade policy and influence ongoing trade negotiations with India, experts said on Wednesday.
According to Tanay Dalal, Senior Vice President (Business & Economic Research) at Axis Bank, changes in the composition of the US Congress are unlikely to significantly alter the institutional framework governing current trade negotiations. He noted that any attempt to restore Congress’s authority over trade policy would require a veto-proof majority, a scenario that remains unlikely.
Dalal added that the scope for aggressive trade actions could gradually diminish amid a divided government in the United States and growing political constraints on the administration.
However, uncertainty is expected to persist due to ongoing legal challenges to existing tariff measures.
For India, the situation remains complex, he said. Geopolitical developments, particularly the war in Ukraine and tensions in the Middle East, are likely to continue shaping US trade policy.
As a result, even if Washington adopts a less aggressive stance on tariffs, India may not necessarily benefit.
The country could still face targeted US trade restrictions in areas where strategic and geopolitical interests diverge.
Meanwhile, commodity markets witnessed significant volatility following the Democrats’ victories in both the House and Senate.
Crude oil prices declined, with benchmark Brent crude falling 1.19 per cent to $102.39 per barrel and WTI crude slipping 0.78 per cent to $95.31 per barrel at the time of writing.
In contrast, precious metals gained. On COMEX, gold rose 2.72 per cent to $4,047 per ounce, while silver advanced 4.22 per cent to $51.85 per ounce.
Meanwhile, in other development, Indian officials reacted cautiously to the US midterm election results, saying the outcome could ease some pressure arising from trade tensions but also introduces fresh uncertainty into an already delicate bilateral relationship.
The Democratic Party secured sweeping victories in both chambers of the US Congress, delivering a significant setback to President Donald Trump.
His administration’s tariff policies and confrontation with Iran have had significant implications for countries such as India, which relies on the US as its largest export market and sources a substantial portion of its crude oil requirements from the Middle East.
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