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Walk-out
India made a last-minute decision to stay off signing the RCEP citing its impact on ‘vulnerable’ sections of the economy
Read more: India refuses to sign up for RCEP; says its core concerns remain unresolved
Not ready
In an exclusive BL interview, Surjit Bhalla, who steered the High Level Advisory Group on Trade and Policy, had frank views on why India is ill-prepared for pacts like RCEP due to its domestic challenges.
No project finance
ICICI Bank has quietly shuttered its project finance division citing the lack of demand for its loans.
Also read: Amid lacklustre demand from infra sector, ICICI Bank shuts project financing division
Pay curbs
A new RBI circular has imposed limits on the pay structures of CEOs and Wholetime Directors by requiring that at least half the compensation be variable, the pay be linked to risk-taking and have deferral provisions that allow clawback of the money if the risks backfire.
Also read: RBI revises compensation guidelines for private bank CEOs, whole-time directors
Realty Bailout
The Centre has flagged off an AIF, to be managed by SBI Caps, to provide last-mile funding to complete stalled affordable home projects across India. The Centre will contribute Rs 10,000 crore, expects LIC/SBI etc to chip in with Rs 15,000 crore and expects to source the rest from sovereign wealth and pension funds.
Also read: Centre to open ₹25,000-crore window for stalled realty projects
Stand-down
Are Trump and Xi backing off from their hostile positions on trade? One can’t be sure but they’ve dropped some hints.
Also read: China, US agree to a tariff rollback if phase one trade deal is completed
Mood shift
Moody’s, which was the first global rating agency to upgrade India’s rating outlook, has now changed it from Stable to Negative, while retaining its ratings at Baa2. Moody’s changed its mind because of “lower effectiveness of the Government and policy in addressing long-lasting structural and institutional weaknesses” in India.
Also read: Moody’s cuts India outlook to ‘Negative’
Infosys Prize
Quite a few Infosys prize winners have gone on to bag the Nobel. Here are this year’s winners.
Read more: Infosys Prize winners: Full details
Finally, don’t miss our package on the Ayodhya verdict
Read: The Ayodhya Verdict
Compiled by Aarati Krishnan
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