Top 10 biz headlines: Bank CEO pay, IndiGo crisis, term insurance, and more

Here are the top 10 business stories that made news on Sunday

RBI working on strict, clear-cut clawback triggers for bank CEO pay

The Reserve Bank of India (RBI) is crafting a comprehensive compensation package policy for the chief executive officers (CEOs) of private banks, which will reduce “the scope for interpretation” on remuneration, and lead to a significantly higher price being paid by them by way of clawback of stock options and bonuses on non-compliance with the regulatory. Read on...

Airtel eyes insourcing to manage IT infra as IBM contract up for renewal

Private sector telecom major Bharti Airtel is looking at a multi-vendor approach to manage its information technology (IT) infrastructure, apart from insourcing part of its technology operations. Its outsourcing contract with IBM worth around $1 billion comes up for renewal this year. Read on...

Irdai warns domestic insurers against 'shadow capital' from rogue brokers

India’s insurance regulator has put out a warning to domestic insurance companies, asking them to be vigilant against rogue brokers offering fraud reinsurance cover from overseas. The warning has become necessary as brokers are tapping into cash-strapped domestic insurers to provide them ‘shadow capital’ to expand their business. Read on...

IndiGo crisis explained: Planes, planes everywhere, but no one to fly them

Hundreds of cancelled flights and disgruntled customers; reprimand from the regulator and a possible cut in expansion plans — IndiGo’s public image has taken a severe beating in the past one week or so, forcing analysts to doubt if India’s infrastructure and skill gap will support the country’s largest airline’s aggressive growth plan. Read on...

Accenture, BCG top campus placements at prominent business schools

This year’s placement drive at some of the prominent B-schools across the country saw consulting majors Accenture and The Boston Consulting Group (BCG) emerge as leading recruiters. These institutions are Indian Institute of Management-Ahmedabad (IIM-A), Bangalore (IIM-B), Calcutta (IIM-C), Lucknow (IIM-L), Kozhikode (IIM-K) and XLRI - Xavier School of Management. Read on...

Delivery dreams: Swiggy, Dunzo on aggressive expansion path in India

After the low-key launch of its local commerce pilot Swiggy Stores in Gurugram last month, Swiggy may be eyeing Pune as its next port of call. The food tech unicorn, which is expanding to a platform that delivers a wide range of products, has already started hiring for the purpose. It plans to launch the service in Pune in April. But sources say that if Swiggy manages to corner a share of the market in Gurugram, the company could skip Pune and launch in Bengaluru instead. Read on...

Plan to buy term insurance? Choose from multiple claim settlement options

Buying term insurance is essential if you have dependants. However, the complication arises when you have to choose from multiple claim settlement options. And since you have to choose this at the time of buying the policy, things get trickier. Read on...

Actis drops its plan to buy Essel Infra’s solar assets

Private equity investor Actis LLP has scrapped its plan to buy the solar assets of debt-laden Essel Infraprojects Ltd, two people aware of the development said. Subhash Chandra-promoted Essel Infra has now initiated talks with ACME Solar Holdings Ltd to sell the same solar energy assets, according to a Livemint report.

Power shortages likely during polls as discoms miss payments

India may be heading for power shortages during summer when the country will go to the polls as private producers have not been paid Rs 14,600 crore by state utilities which has created a shortage of funds, particularly for coal and rail transportation which requires advance payments, according to The Economic Times report.

In yet another attempt, Govt tries to make hydrocarbon hunting more attractive

How to increase domestic oil and gas production seems to have been a challenge for the Narendra Modi-led government as was the case with the previous regimes. In what could be seen as yet another attempt at making the exploration business attractive, the government is in the process of implementing the recommendations of a high-level Inter-Ministerial Committee, The Hindu BusinessLine reported.