BUSINESS
RBI extends restrictions on PMC Bank till Dec 31
The decision came a week after the RBI granted an "in principle" approval to Centrum Financial Services for setting up a small finance bank (SFB), thereby clearing the decks for the takeover of th crisis-hit PMC Bank by Centrum and BharatPe as equal partners. In response to the Expression of Interest (EOI) dated November 3, 2020 floated by PMC Bank for its reconstruction, certain proposals were received.
SEBI considers easier delisting framework post open offer
As per the current norms, a mandatory open offer of 26 per cent is required for acquisition of shares held by all shareholders other than the acquirer, if the acquirer has agreed to acquire shares representing an entitlement to vote (25 per cent or more), or control over a listed company.
Govt liabilities rise to Rs 116.2 lakh cr in Q4: FinMin report
This represented a quarter-on-quarter increase of 6.36 per cent in Q4 FY21. Public debt accounted for 88.10 per cent of total outstanding liabilities at end-March 2021, the quarterly report on public debt management released on Friday said.
RBI extends restrictions on PMC Bank till Dec 31
The decision came a week after the RBI granted an "in principle" approval to Centrum Financial Services for setting up a small finance bank (SFB), thereby clearing the decks for the takeover of th crisis-hit PMC Bank by Centrum and BharatPe as equal partners.
India's forex reserves declines by over $4 bn
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves decreased to $603.933 billion from $608.081 billion reported for the week ended June 11. India's forex reserves comprise foreign currency assets (FCAs), gold reserv es, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).
UK probes Amazon, Google for fake reviews of goods
The move follows the CMA's initiation of an inquiry last May that raised concerns over the companies' handling of fake or misleading reviews on their respective sites, Engadget reported. At the time, the regulator did not specify which websites it was investigating. Instead, it said that it was looking into issues including suspicious behaviour, such as a single user posting multiple reviews for an unlikely range of products or services.
Govt announces tax relief on expenditure towards Covid treatment, extends deadlines
The government also provided relief to the family members of a taxpayer falling prey to Covid by providing income-tax exemption on the ex-gratia payment received by them from the employer or from any other person. This exemption shall be allowed without any limit for the amount received from the employer, while the exemption shall be limited to Rs 10 lakh in aggregate for the amount received from any other person, a Finance Ministry statement said.
Ex-Infosys CEO to lead task force for bureaucratic reforms
Govind Iyer, Consultant, Egon Zehnder, and Pankaj Bansal, Co-founder and Group CEO, PeopleStrong, are the two other members of the task force. Adil Zainulbhai, Chairman designate of Capacity Building Commission, Department of Personnel and Training (DoPT), would be a special invitee to the discussions of the task force.
First acquisition of listed firm by Indian unicorn: Pharmeasy picks up 66.1% in Thyrocare
API Holdings has signed definitive documents to acquire 66.1 per cent stake in Thyrocare Technologies Ltd (Thyrocare) from Dr A. Velumani and affiliates at a price of Rs 1,300 per share aggregating to Rs 4,546 crore.
The transaction is subject to regulatory and other applicable customary approvals. Docon Technologies Pvt Ltd, a 100 per cent subsidiary of API, will be the acquirer and shall make an open offer for an additional 26 per cent stake.
Stock Talk: Top film Production & distribution stocks on Sensex today
India has a longstanding reputation for its acclaimed film industry, with the term Bollywood synonymous with vividly coloured films featuring complex dance routines, singing and spectacular large cast scenes
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