Optical directive

Now that Finance Minister Nirmala Sitharaman has nudged SEBI to hear India Inc’s concern on splitting of CMD post in listed entities, buzz in corridors of power is that SEBI may have to blink and permanently put this norm in cold storage.

Economy watchers however noted that Finance Minister could have done well by offering “no comment” to that loaded question from CII President designate and Bajaj Finserv honcho Sanjiv Bajaj rather than trying to convey her thinking on it and at the same time leaving it open for SEBI to decide on the right thing to be done! Clearly SEBI has to do some tightrope walking on this.

KCR skips Modi visit: Politics over protocol

Telangana Chief Minister K Chandrashekar Rao's decision to skip Prime Minister Narendra Modi's visit to Hyderabad on Saturday triggered an animated discussion on social media.

In an effort to end the debate, the ruling Telangana Rashtra Samithi (TRS) put out a protocol snapshot from Central Protocol document. Citing the document TRS contended that the Chief Minister of a State need not go to receive the Prime Minister if the latter goes there on a private visit.

While the TRS followers populated Twitter with the hashtag EqualityForTelangana, the BJP followers began trending the hashtag ShameOnYouKCR as the Prime Minister completed his six-hour visit to Hyderabad.

Cabinet expansion blues

17 legislators who defected from Congress and JDS to subsequently help BJP form the government in Karnataka are having sleepless nights. While 12 of them eventually became ministers as a 'reward' for their action, however with the talk of a final major cabinet expansion and reshuffle in the air they are concerned about hanging onto their positions and portfolios.

Congress leader and former CM Siddaramiah claimed that several of them are in talks to return. A large number of 'original' BJP legislators are upset that the 'defectors' have been rewarded and are demanding that CM Bommai rectify the situation. Meanwhile, Bommai who is struggling to establish his hold on the party has now put the ball in the party high command's court.

How times have changed

HSBC’s insurance unit has done a complete u-turn on its Indian market strategy now that it has conveyed its intent to buy PNB’s 23 per cent stake in Canara HSBC OBC Life Insurance (CHOICE), say bankers.

The same HSBC Insurance (Asia Pacific) was about a decade back looking to exit this joint venture and move out of India. Clearly, this change of heart could have been prompted by the increasing attractiveness of Indian market fin recent years and the Indian government move to further open up the sector and increase FDI cap in insurance. Recently it was Generali group from Italy, now it is HSBC that wants to up their India game. So don’t be surprised if some more insurance majors and institutional investors make a beeline to pick up stake in Indian insurance ventures, especially IPO-bound Life Insurance Corporation.

Hell hath no fury like...

Hell hath no fury like a woman scorned. M Sivasankar, formerly Principal Secretary to the Kerala Chief Minister and dragged into the sensational case involving gold smuggling from the UAE, is learning this the hard way. His efforts to come clean in a book and show in poor light prime accused Swapna Suresh, has invited a swift and furious riposte that screams 'the boot is indeed on the other foot.'

Political temperatures have since been soaring in Kerala with the Opposition and the BJP reminding all 'we told you so.' Sivasankar, reinstated for now in a different capacity, is unshaken by the latest happenings and says he will choose is own time to come up with even more (damning?) disclosures in the case.

Think again before selling fake Khadi products

The Khadi and Village Industries Commission (KVIC) has cancelled the “Khadi Certification” to its oldest Khadi Institution named Mumbai Khadi & Village Industries Association (MKVIA), which was running the prestigious “Khadi Emporium” at Metropolitan Insurance House, a heritage building, located at D.N. Road in Mumbai since 1954.

This action came after KVIC found the said Emporium selling non-Khadi products in the guise of genuine Khadi. With cancellation of the registration, Khadi Emporium ceases to be a genuine Khadi Outlet and is no longer permitted to sell Khadi products from the Emporium. Our Bureaus

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