Are civil servants in
the Ministry of Finance aware of the big ticket funding by Japan’s Soft Bank to
many Indian companies. The way Indian companies are receiving funds from
foreign banks has surprised many. North Block needs to be vigilant. Are Indian
companies really getting clean money? International finance is a multilayer
business; nobody knows who is financing whom. Currently, international finance
is in a recessionary mode and yet, Soft Bank’s Chairman Masayoshi Son is very
aggressive. Paytm, it is learnt, is in talks for funding from Soft Bank. The
Alibaba-backed online marketplace company Paytm, is looking to raise around Rs.
12,000 crore from Soft Bank, in the single-largest investment in an e-commerce
company. Rajeev Misra, Soft Bank Group’s head of strategic finance, is
reportedly looking after the deal. The news surprised many: Saudi Arabia and
Japan’s Soft Bank Group will create a technology investment fund along with
‘several other large, unnamed investors’ who are in active talks on their participation
and could bring the total size of the new fund up to $100 billion, Soft Bank
said. The only solace is that Saudi Arabia’s top sovereign wealth fund, the
Public Investment Fund (PIF), will be the lead investment partner and may
invest up to $45 billion over the next five years. It is not yet known who is
investing the balance $55 billion.
https://www.gfilesindia.com/go-hard-on-soft-bank/
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