Cayman Islands’ gray checklist tag could harm FPI investments into IndiaThe Cayman Islands, considered one of India’s richest routes for overseas investments, has been placed on the gray checklist of nations/areas for elevated monitoring by the Monetary Motion Activity Pressure (FATF), an inter-governmental physique that units anti-money laundering requirements. Additionally it is the third-most most popular supply of overseas direct investments into India, based mostly on the information for the primary half of FY21. Learn extra
Sebi plans change in norms to trim promoters’ sway on impartial directorsThe market regulator steered a “twin approval” course of for the appointment and removing of impartial administrators. At current, an impartial director could be appointed or eliminated by means of an extraordinary decision, the place all shareholders, together with promoters, are allowed to solid their vote. Learn extra
Spectrum public sale: Telcos place bids price Rs 77,000 crore on Day 1Coming 5 years after the 2016 auctions, the much-awaited 4G spectrum bidding, the place Reliance Jio emerged as probably the most energetic participant, has assured the federal government revenues of greater than Rs 77,000 crore in 4 rounds on day one itself. Learn extra
Mumbai ‘cyberattack’ places give attention to the necessity for larger securityAccording to a New York Instances report, a Chinese language government-backed cyber hack was behind the Mumbai energy outage, which was meant to ship a message to the Indian authorities on the top of pressure between the 2 international locations in Ladakh. Learn extra
From on the spot noodles to honey, Marico develops an urge for food for foodsBest recognized for its Parachute coconut oil and Saffola edible oil, Marico is eyeing a broader play in meals. Saffola is the model that may champion its meals play and has already seen 5 quarters of double-digit progress, pushing the corporate to set bold targets in meals. Learn extra
Financial system reviving, however renewed surge of Covid-19 infections poses danger: RBI
India’s financial exercise is gaining steam, however appreciable uncertainty surrounds the outlook owing to the renewed surge in coronavirus infections, the Reserve Financial institution of India (RBI) mentioned in its State of the Financial system report on Monday. Learn extra
Actual property fund managers float schemes for building finance
Property fund administration arms of Motilal Oswal, Indiabulls, and others are launching funds/schemes to lend building finance to actual property builders. With non-banking monetary corporations (NBFCs) nearly stopping new lending and banks turning into selective, there was an enormous hole in building finance over the previous two years, fund managers mentioned. Learn extra
UPI registers 2.29 billion transactions price Rs four.25 trillion in Feb
Unified Fee Interface (UPI), the flagship funds platform of the Nationwide Funds Company of India (NPCI), recorded 2.29 billion transactions price Rs four.25 trillion in February. Sequentially, the transactions dipped zero.42 per cent by quantity and 1.39 per cent by worth over January due to the less variety of days in February.
Nonetheless, year-on-year, the transactions had been up 73 per cent by quantity and greater than 90 per cent by worth. Learn extra
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