After RBI, it now seems to be the turn of SEBI to do its bit for the success of LIC’s IPO. Buzz in the corridors of power and merchant banking circles is that SEBI is now in no mood to rush and clear new IPOs that are awaiting regulatory nod. This is maybe to ensure that no other IPO hits the market and sucks liquidity or distracts retail investors when LIC IPO is expected next month.
First of all, no promoter will be brave enough to hit the IPO market when the mega LIC offering happens. Secondly, the situation is even more difficult for new IPO issuances when SEBI itself is keen to go slow by raising doubts and queries on the DRHPs to delay the offerings, quipped a merchant banker! Net-net when the insurance behemoth hits the market, you can forget about any other IPO.
Banking is ancient
It is not that banking is the development of recent centuries. Supreme Court judge, Justice S Abdul Nazeer took the audience at the 98th Founders’ Day celebrations of Karnataka Bank in Mangaluru on Friday to Vedic times to highlight the importance of banking then, adding that oans were well understood in those days too.
“Manu, the great law giver, speaks about earning of interest as business of Vaishyas. In fact, Manu had devoted a special chapter in ‘Manu Smrithi’ to deposits and pledge, and has given rules of loans and rates of interest. Even the other sages like Gauthama, Kathyayana, Brihaspati made a reference of regulation of interest. Kautilya made a reference of regulation of interest on loans,” he said.
Marketing Indian agri products through diplomacy
India's agricultural exports have been doing exceedingly well over the last two fiscals. One reason is that India responded to the call for meeting the food security needs of least developed nations, especially in Africa. There is another reason why India has been able to increase its shipments.
According to the exporting fraternity, the Commerce Ministry has been urging various embassies to meet industry associations that deal with exports, particularly agricultural products. Recently, the Philippines Ambassador met with Indian rice exporters, who urged Manila to buy Indian rice. The Ambassador, without giving any assurance, said the Philippines will look into it.
When a Governor sulks…
The blow-hot, blow-cold relations between Kerala Governor Arif Mohammed Khan and Chief Minister Pinarayi Vijayan reached an inflexion point on Thursday when the Governor refused to sign the draft of his Address to the Assembly scheduled for the next day. This was enough to send alarm bells ringing in the corridors of power and an apparently shell-shocked Chief Minister rushed to the Raj Bhavan and tried gently to persuade the Governor. It was the turn of the Chief Secretary next, but to no avail.
The Governor, it seems, was not happy with the Left Front Government’s response to his drafting a BJP functionary into the personal staff. Several pensive hours into the evening, the government ordered the transfer of the officer who had officially conveyed its reservations on the appointment of the Governor’s personal staff. And voila, by late Thursday evening, the Governor relented and signed along the dotted line.
BSY debuts on the silver screen
Not many actors debut at the age of 78. However, former Chief Minister and still BJP's most popular face in Karnataka, BS Yediyurappa (BSY) who will be celebrating his 78 birthday next week, is acting for the first time in a Kannada movie called Tanuja, directed by award-winning director Harish MD Halli.
It is about a girl who hails from a poverty-ridden background but manages to crack the NEET exam overcoming odds. BSY will be playing the role of a CM. So what if he has lost the CM chair in real life, in reel life he continues to be one.
The curious case of a lost donkey
A highly politically charged up Telangana has a reason to smile. A case has been filed against a leader of Congress' student wing NSUI for stealing a donkey.
Acting on a complaint, the police slapped a case on Balmoor Venkat, President of Telangana unit of the National Students' Union of India. In the remand report, they cited 'Donkey' against a column named 'Property Lost'.
This evoked laughter and disdain from Telangana Pradesh Congress Committee President Revanth Reddy on the K Chandrashekar Rao government and the police. Our Bureaus