Essar Global Fund’s decision to repay the last tranche of the secured debt at its group entities could have broader ramifications for Essar Steel, the conglomerate’s steel-making business whose future ownership would be decided by the dedicated bankruptcy court, The Economic Times reported. Some in the legal circles believe the move by Essar Group’s holding company could prompt lenders to consider the group’s last-minute offer to repay Rs 54,389 crore and wrest back the control of the debtladen Essar Steel, currently facing insolvency proceedings.

Turkey’s biggest state-run bank will extend cheap loans to citizens struggling to pay off their credit-card debts, in a populist move designed to boost the economy before local elections in March, Bloomberg News reported. Citizens will be able to borrow from Ziraat Bankasi AS to pay back their card debt to banks, President Recep Tayyip Erdogan told his party’s group meeting in parliament Tuesday. Ziraat Bank said in a statement it will offer loans for up to two years with a 1.1 percent interest rate per month, less than half the cost of the retail loan rate on its website.

Senior Chinese leaders offered in 2016 to help bail out a Malaysian government fund at the center of a swelling, multibillion-dollar graft scandal, according to minutes from a series of previously undisclosed meetings reviewed by The Wall Street Journal. Chinese officials told visiting Malaysians that China would use its influence to try to get the U.S. and other countries to drop their probes of allegations that allies of then-Prime Minister Najib Razak and others plundered the fund known as 1MDB, the minutes show, The Wall Street Journal reported.

India’s central bank is open to infusing “need-based” liquidity into the financial system, Governor Shaktikanta Das said on Monday ahead of a meeting with the shadow banking sector, which has been hit hard by a funding crunch, Reuters reported. Government officials have pressed the Reserve Bank of India (RBI) over the past few months to ease lending and capital rules for banks and provide more liquidity to shadow banks.

Reliance Communications has deposited $18.6m at India’s supreme court in a “partial payment” to creditor Ericsson, which is pushing to have its chairman Anil Ambani imprisoned for alleged contempt of court, the Financial Times reported. Last week, the Swedish group filed a petition with India’s supreme court, accusing RCom of breaching a court order to pay $79m in unpaid dues. It alleged that the telecom company had “illegally pocketed” the proceeds of asset sales, instead of transferring funds to creditors.

Debt-laden Jet Airways India Ltd. is trying to renegotiate contracts with its vendors as lenders demand a revival plan by month-end from India’s second-largest airline by passengers, according to people with knowledge of the discussions, Bloomberg News reported. The Naresh Goyal-led airline is in talks to defer or reduce payments to vendors including aircraft lessors and those providing engineering, spare parts, credit card and airport services, said one of the people, who asked not to be identified as the discussions aren’t public.

Soccer is the latest Turkish industry to face a large-scale debt revamp after the country’s top teams suffered money-losing seasons and borrowed heavily to buy marquee players. Turkey’s banking association and soccer federation are preparing to announce a restructuring plan for about 11 billion liras ($2 billion) of debt held by the nation’s soccer teams after reaching an agreement Friday, Bloomberg News reported. Shares of the country’s four listed clubs surged.

Japanese prosecutors want Carlos Ghosn, the detained auto executive who oversaw an alliance that sold 10 million vehicles a year, to confess to financial misconduct, his son told France's weekly Journal du Dimanche (JDD), the International New York Times reported on a Reuters story. Ghosn has been held in a Tokyo detention center since his Nov. 19 arrest on allegations of under-reporting his income at Nissan Motor Co Ltd. He is also accused of aggravated breach of mistrust in transferring personal investment losses to Nissan, from which he has since been ousted as chairman.

India’s debt-laden Jet Airways is close to reaching a deal with State Bank of India for a fresh loan of 15 billion rupees ($215 million) to meet its working capital needs, two sources aware of the matter told Reuters. The airline has scheduled a meeting on Jan. 8 with its vendors and lessors, many of whom are getting increasingly concerned over non-payment of dues, and officials from State Bank of India (SBI) to discuss the debt restructuring plan, the first source with direct knowledge said, Reuters reported.

Swedish group Ericsson has asked India’s top court to send tycoon Anil Ambani to prison, after his troubled Reliance Communications allegedly breached a court order to pay $79m in unpaid dues, the Financial Times reported. RCom, once India’s most valuable telecom company, has been fighting to stave off bankruptcy for more than a year, after suffering a heavy loss of market share. Ericsson had originally claimed Rs11bn ($158m) in unpaid fees for outsourced management services, and launched insolvency proceedings against RCom last year.