Top 10 biz headlines: Mindtree drops buyback plan, forex swap auction, more

From Mindtree dropping share buyback plan to Wilmar International deciding to take RBI to court, BS brings you top 10 business stories that made news on Tuesday

Wilmar International set to take RBI to court over Shree Renuka Sugars

Singapore-based Fortune 500 agribusiness major Wilmar International is set to take the Reserve Bank of India (RBI) to court over its insistence that Shree Renuka Sugars, in which it holds a 58 per cent stake, be classified as a non-performing asset (NPA) by banks. Read on

Mindtree drops buyback plan, forms panel to evaluate L&T's open offer

The corporate battle between L&T and Mindtree entered the next phase on Tuesday with the construction-to-engineering major issuing a public statement on its open offer, which will start on May 14, while the board of the Bengaluru-headquartered firm decided to drop its buyback plan. Read on

Cloud over GDP numbers must be cleared: Raghuram Rajan on Indian economy

Former RBI Governor Raghuram Rajan on Tuesday expressed doubts over Indian economy growing at 7 per cent when not enough jobs were being created and said the current cloud over the GDP numbers must be cleared by appointing an impartial body to look at the data. Read on

RBI's rupee-dollar swap auction to ease liquidity gets a big thumbs up

The Reserve Bank of India (RBI) received an overwhelming response to its dollar swap window on Tuesday, establishing the instrument as a credible liquidity tool and paving the way for more such auctions in the coming months. (Read on: 

Cash-strapped Jet Airways to operate 40 more planes by April-end

Jet Airways is putting together a plan to restore its flight schedule, following an emergency funding from lenders and by April-end it will have an additional 40 planes in operation. Read on

Collapse in farm work key in jobs crisis in India, says NSSO report

Various opinion polls conducted recently show how better job opportunities will remain a key issue in the voters’ mind in the upcoming general elections. But what is causing this jobs crisis? A careful examination of the National Sample Survey Office’s (NSSO’s) periodic labour force survey (PLFS) report showed a collapse in agricultural jobs as a key reason behind rising unemployment, particularly in the rural parts of the country. Read on

Regulatory board for gold gets Finance Ministry nod, ball in PMO court

The finance ministry has given its nod to set up a precious metals’ board to bring clarity on how the new comprehensive gold policy will be implemented. The proposed board, to be known as the Precious Metals Board of India, will be the regulatory body for gold, silver, platinum, palladium and other commodities the government notifies. Read on

India’s energy demand outpaces global growth: IEA

India’s energy demand outpaced global demand growth in 2018 according to the International Energy Agency. The higher energy demand was driven by a global economy that expanded by 3.7 per cent in 2018, a higher pace than the average annual growth of 3.5 per cent seen since 2010. China, US, and India together accounted for nearly 70 per cent of the rise in energy demand, according to The Hindu BusinessLine report.

PAN-Aadhaar linking: Don't miss the 31 March deadline

The I-T department has already given several extensions of the deadline to link PAN-Aadhaar numbers and now your last chance could be till 31st March, according to Livemint report.

Cops miffed with SEBI's inaction in dabba trading crackdown

The Securities and Exchange Board of India (SEBI) has gone on a campaign overdrive to curb ‘dabba trading’ but the police says that the regulator's hesitance in filing a case in several cases is letting violators get off the hook, according to Moneycontrol.com report.