News digest: Ayushman Bharat, ICA guidelines, small savings rates, and more

Inter-creditor agreement guidelines also protect interests of third-party and exclusive security holders

Sops for additional lending by banks 

Lenders stepping in place of their peers to provide additional funding in resolution plans will get priority to cash flows, according to the operational guidelines of the inter-creditor agreement (ICA). It will give banks which are ready to offer additional funding over what is pro rata, priority charge on the cash flows and assets of a borrower. Read more

Modicare still in making two days before launch  

The government has advanced the launch of Ayushman Bharat, renamed Pradhan Mantri Jan Arogya Abhiyan (PMJAY), by two days as Prime Minister Narendra Modi is learnt to have a packed day on September 25 — the scheduled roll-out date. Read more

Crew fly jet deeper into turbulence

At least 30 Jet Airways passengers complained of bleeding, headache and uneasiness on a flight from Mumbai to Jaipur on Thursday as the pilots “forgot” to maintain air pressure inside the cabin. Read more

Centre hikes small savings rates by up to 40 bps 

The government has hiked interest rates on small savings schemes by up to 40 basis points (bps) for the October-December quarter, in a bid to catch up with tightening liquidity. The move, made after many years, follows hike in deposit rates by banks, rising bond yields, and two repo rate hikes by the Reserve Bank of India. Read more

Lenders take IL&FS unit to NCLT 

Lenders have filed bankruptcy proceedings against an IL&FS group firm,  IL&FS Tamil Nadu Power Company, by taking it to the National Company Law Tribunal after it defaulted on loans. Read more