News digest: Govt-RBI rift eases, IL&FS seeks capital infusion and more

Patel calls board meeting on Nov 19; govt lays stress on central bank autonomy

Centre, RBI see eye to eye in ‘public interest’ 
 

After a high-pitched spat over last week, the Reserve Bank of India (RBI) and the government on Wednesday seemed to agree to continue discussions to resolve their recent disagreements — in “public interest”. Read more

India jumps 23 places in World Bank rankings 

India jumped 23 places to 77 in the World Bank’s ease of doing business global rankings for 2019, becoming the top-ranked country in South Asia for the first time. The country has moved 53 places up the rankings in the last two years. Read more

Carmakers face slowdown in mid-size sedan segment 

Mid-size sedans were once the most sought-after cars in the country, but preferences have changed now. With multiple options in the compact sport utility vehicle (SUV) and compact sedan space, the mid-size sedan seems to be losing its charm among customers. Read more

IL&FS seeks capital infusion, asset sale

The new management of troubled Infrastructure Leasing & Financial Services on Wednesday presented to the National Company Law Tribunal a resolution plan, which includes “significant” capital infusion by shareholders or new investors, divestment of assets, liquidation of a few group companies, and debt restructuring at both group level and business vertical level. Read more

SC seeks pricing details of Rafale fighter jet deal 

On Wednesday, the Supreme Court (SC) opened the doors for greater scrutiny of the purchase of Rafale fighters, by requiring the Centre to submit details of how it decided to buy 36 fighters, of the price paid, and of offset contracts in the deal. The SC had asked for details of how the Centre decided to buy 36 Rafales, but said it would not get into “the issue of pricing or the question of technical suitability” of the jet. Read more