Market regulator Securities Exchange Board of India (SEBI) has asked National Stock Exchange (NSE) to explain reasons for not migrating trading to its disaster recovery site.
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Ever since the finance minister (FM) announced in her budget speech that the government will privatise a couple of banks and a general insurance company in the coming financial year, speculation has been rife about the possible candidates for disinvestment. There has been another major announcement, that of raising the limit for foreign direct investment (FDI) in insurance to 74% which will, indeed, have a far-reaching impact on the insurance landscape in India. The rise in FDI cap merits a separate assessment; this article attempts to examine the likelihood of success of the privatisation effort.
What is not clear from the announcement is the reason for taking this step. Is it merely to meet the Budget deficit, or is this the outcome of a paradigm shift that the government has no business to be in business? Or the decision to privatise is driven by the government’s inability or unwillingness to keep pumping more and more capital in government-owned general insurance comp
Reliance Industries Ltd (RIL) has announced a reorganisation plan to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly owned subsidiary, Reliance O2C Limited (O2C), as a step towards facilitating participation by strategic investors in its O2C businesses.
India Ratings and Research (Ind-Ra) has revised its outlook on the overall banking sector to stable for FY22 from negative due to substantial systemic measures that have reduced the system-wide COVID-19 linked stress below the expected levels and banks strengthening their financials by raising capital and building provision buffers.
India s NBFCs need to plan for an effective IBOR (Interbank Offered Rate ) transition, as majority of LIBOR (London Interbank Offered Rate) rates are likely to be phased out by the end of 2021, EY India report said.