Phoenix ARC, backed by Kotak Mahindra Bank, bought two stressed loans for ₹1,800 crore from IIFL, committing to an 83% recovery rate for the Fairfax-supported non-bank lender. The ₹1,500 crore acquisition was made in an open auction, with Phoenix ARC being the lone bidder.

The state-owned Indian Bank sold ₹610 crore in bad loans to simplify its financial portfolio. The bank plans to straighten up its accounts by the end of the year. Real estate and international trade debts are sold.

Axis Bank and Mahindra Lifespace Developers (MLDL), the Mahindra Group's infrastructure and real estate subsidiary, partnered. This agreement allows Mahindra Lifespaces customers to get house loans at 0.25% lower than usual rates.