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Teji Mandi: Three things investors should know on March 18, 2021

Teji Mandi: Three things investors should know on March 18, 2021
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IL&FS Default: Parliamentary Committee Seeks Action Taken Report Against Credit Rating Agencies

 2 The parliamentary standing committee on finance, chaired by Jayant Sinha, has asked regulators Securities & Exchange Board of India (SEBI) and Reserve Bank of India (RBI) to review their regulations in the face of serious default crisis at Infrastructure Leasing & Financial Services (IL&FS). The committee also asked ministry of finance to seek factual report from the regulators on enforcement of credit rating agencies (CRAs) regulations, particularly action taken against CRAs who gave stable rating to IL&FS prior to the default crisis.    Explaining rationale for fresh evaluation of the credit rating framework, the committee says the regulations should be suitable modified or tightened, benchmarking them on greater objectivity, transparency and credibility in the credit rating framework and process.

Parliamentary committee express anguish over non-uniformity in flight cancellation charges

Representational image   | Photo Credit: PTI The report stated that tax on fuel surcharge collected should be refunded to the passengers on cancellation of tickets A parliamentary committee on Wednesday expressed anguish over the lack of uniformity in cancellation charges levied by airlines, and said there is a need to prescribe an upper limit. Time and again, the committee s attention has been drawn towards the high cancellation charges levied by the private airlines operating in the country, the Parliamentary Standing Committee on Transport, Tourism and Culture said in a report tabled in Rajya Sabha. The committee underlines the need for rationalising the cancellation charges and prescribing an upper limit of cancellation charges that can be collected from the passengers, the report noted.

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