Missed all the corporate and policy news this week because you were buried under work? Here’s a curated list of BL’s top stories over the week under these sections.
Unexpected curb
RBI classifying foreign owned AMCs under indirect foreign investments may cap MF investments in several listed companies and sectors.
RBI circular on indirect foreign investments in India threatens a market sell-off
No project finance
ICICI Bank has quietly shuttered its project finance division citing the lack of demand for its loans.
Amid lacklustre demand from infra sector, ICICI Bank shuts project financing division
Backing out
Private insurers are backing off the Fasal Bima Yojana citing high reinsurance costs and other problems
Wary of crop segment, insurers run for cover
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.
Moody’s cuts India outlook to ‘Negative’
Golden handshake
BSNL’s VRS for workers seems to be receiving good response with 50,000 of the 83,000 targeted employees
indicating their decision to opt out
Over 60,000 BSNL, MTNL employees opt for VRS
Even as Infosys Chairman Nandan Nilekani claimed that even God couldn’t change Infosys’ numbers, SEBI is
continuing with its probe into whistleblower allegations
Ask Almighty or Nilekani: SEBI chief on ‘even God can’t change numbers' remark
Opening up
The Centre may allow private players to procure bulk supplies from GeM, its electronic marketplace, where
government arms shop for goods and services.
GeM may allow private players to source from online platform, but only for bulk buying
Finally, don’t miss our package on the Ayodhya verdict
Compiled by Aarati Krishnan
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