Home Credit India Finance, a subsidiary of TVS Holdings, signed an agreement to purchase shares on Wednesday. Under this agreement, the company will acquire Varthana Finance, which specializes in providing education loans. The deal will be entirely in cash and valued at 967 crore rupees.
After the transaction is completed, Varthana Finance will become wholly owned by the subsidiary Home Credit India, and subsequently, wholly owned by the subsidiary of TVS Holdings. In addition to Home Credit, the TVS group is also present in the financial services sector through TVS Credit Services, offering consumer, retail, and commercial financing services.
The purchase aims to promote portfolio diversification, improve business structure, and create synergy in distribution, technology, and risk management areas. This acquisition is in the non-banking financial services sector and is aimed at expanding the buyer's presence in secured and long-term lending. The realization of the deal depends on obtaining regulatory approvals and is expected to be completed within nine months from the signing of the Share Purchase Agreement (SPA).
The government plans to approve two major road construction projects in Varanasi: the Ganga Corridor and the Varuna Corridor. The total cost of these projects is nearly 25,000 crore rupees, and they are intended to ease traffic congestion in the holy city.
According to information obtained by TOI, the first project, the Ganga Corridor, is a six-lane highway spanning 46 kilometers. It will connect NH-19 with the Varanasi ring road along the banks of the Ganga River. The goal of this project is to reduce urban congestion and significantly improve connectivity.
Upon completion, it is expected that the average travel speed will increase fivefold, reaching about 100 km/h, and travel time will be reduced by almost 67%, dropping from the current 60 minutes to approximately 20 minutes.
During an inter-ministerial meeting, the National Highways Authority of India (NHAI) described the Ganga Corridor as a waterfront infrastructure project focused on tourism development. It aims to enhance accessibility to the Ganga riverfront while minimizing impact on existing residential and built-up areas.
According to the authority, the planned route follows the river corridor and includes a cable-stayed bridge, which is set to become a landmark structure on the embankment. The project also provides for dedicated viewing platforms and visitor zones offering panoramic views of the Ganga and the ghats on the opposite bank, thereby boosting the city's tourist appeal.
Officials stated that NHAI views the Ganga Corridor not merely as a transport project but as an urban infrastructure initiative oriented towards tourism and destinations. The cable-stayed bridge is a key element in achieving broader project goals, such as improving the embankment, shaping public space, and promoting tourism, while ensuring seamless connectivity.
The Cabinet is also expected to approve the Varuna Corridor—a constructed link of 43.2 kilometers connecting NH-31 with the Varanasi ring road along the Varuna River. This project, which includes flyovers, loops, exits, and access roads, is estimated to cost around 11,000 crore rupees.
Both projects are highly significant as approximately 15 million tourists and pilgrims visit Varanasi annually, making efficient urban mobility necessary to manage growing traffic and pilgrimage-related travel demand.
Furthermore, the Cabinet is likely to consider three policy issues related to the urea sector. According to TOI, potential items include new energy norms for new urea production and the continuation of urea subsidies.
The Bank of Maharashtra (BoM), located in Pune, reported in its regulatory filings that it achieved a 27% growth in its total loan portfolio for the June quarter, reaching ₹3.06 trillion.
According to the bank, the total loan portfolio at the end of the April-June quarter of the 2026 financial year was ₹2.41 trillion. Total credit included loans for retail lending, agriculture, and MSME (RAM) segments, which showed a year-on-year growth of 25%, reaching ₹1.87 trillion.
Furthermore, during the reporting period, the bank's credit exposure in the corporate sector increased by 21%, surpassing the ₹1 trillion mark to reach ₹1.11 trillion. The bank also noted a 13% increase in total deposits, rising to ₹3.44 trillion compared to ₹3.05 trillion recorded at the end of the first quarter of the previous financial year.
As a result of these figures, the bank's aggregate business volume (total loans and deposits) grew by 19%, reaching ₹6.51 trillion compared to ₹5.46 trillion as of June 30, 2025. In the last quarter, the Current Account Savings Account (CASA) ratio stood at 49% of total deposits, whereas in the same period last financial year, this ratio was 50%.
