Top 10 biz headlines: RBI MPC, MFs in FY19, misleading health ads, & more

From RBI MPC to misleading health ads, Business Standard brings you top 10 business stories that made news on Wednesday

Govt in damage control mode after SC verdict, Sec 35 may be invoked

Bruised by the Supreme Court’s verdict on the Reserve Bank of India’s (RBI’s) February 12, 2018, circular on resolving bad debt, the government is planning to authorise the central bank to refer companies to the Insolvency and Bankruptcy Code (IBC) on a case-by-case basis. Read on...

IL&FS financial arm's GNPAs touch 90% in Dec against 5% in Mar 2018: Board

The Infrastructure Leasing & Financial Services (IL&FS) board on Wednesday presented a status report on the group’s financials and the asset monetisation plan, six months after the government-appointed panel took over the reins of the company. The board said the asset monetisation plan for the beleaguered infrastructure finance player was in good shape as far as the assets put up for sale were concerned, and that it expected the resolution process to accelerate. Read on...

Starting April, physical shares to take place in dematerialised form

Moves to ease out physical share certificates have borne some fruit, but majority of the listed companies still have shareholders having their stake in physical form. A Business Standard analysis showed that 98.6 per cent of companies had shareholders who held their stocks in the form of physical share certificates. Read on...

Will there be another rate cut at RBI's Monetary Policy Committee meeting?

The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) will likely announce a 25 basis points cut on Thursday, even as some in the market expect a deeper, 50 basis points cut. Clearly, in a rule-based policy, the key consideration for the central bank has shifted from inflation (which is lower than the RBI’s target of 4 per cent), to growth.Read on...

Sensex on a high: What's next for India, 2nd-biggest emerging stock market?

The biggest quarterly foreign inflow in six years. About $370 billion in value gained. And now, India’s stock market just hit a record high -- its first in seven months. Read on...

Lack of uniformity in valuation arbitrage prompts Sebi to tweak norms

The Securities and Exchange Board of India (Sebi) has pointed out that lack of uniformity in valuation methodology might have aggravated the recent redemption pressures faced by liquid schemes as first-to-exit investors got an unfair advantage of higher net asset values (NAVs) over the invested unitholders. Read on...

In charts: Mutual fund winners and laggards in FY19 March quarter

The mutual fund (MF) industry ended FY19 on a sombre note. At the end of the March quarter, the industry's average assets under management (AAUM) stood at Rs 24 trillion — just 6% higher than the previous financial year (FY18). Read on...

61 companies face heat for misleading health ads

 Investigation against 61 companies manufacturing healthcare products, including Johnson & Johnson Private Limited for its cough syrup Benadryl, is under way for misleading product advertisements in violation of the guidelines of the Advertising Standards Council of India (ASCI), reports Livemint.

Liquid funds: There is no paradigm shift

SEBI, in its board meeting held on March 1, 2019, stated two changes in the valuation of securities in the portfolio of liquid funds, or for that matter any money market or debt fund, reports The Hindu BusinessLine.

Can tax saving mutual funds help you to achieve your long-term financial goals?

Most mutual fund advisors ask their clients to link their investments in tax-saving mutual funds or ELSS funds to a long-term financial goal. They argue that such an approach would help investors to hold on to their ELSS investments for a long period, reports Economic Times.