Top biz headlines: New NBFC code, Tata Motors in Geneva Motor Show, more

From NBFC crisis to power sector woes, Business Standard brings you top 10 business headlines that made news on Tuesday

NBFCs face new governance, exposure code: From licensing to CEO package

RBI is drawing up a new code for non-banking financial companies (NBFCs) which envisages curbs on the licensing and businesses of bank-led units, parity in CEO remuneration package with that of private banks, and a gradual shift to the risk-based supervision system. Read more

Trump scraps preferential trade treatment for India, govt plays down impact

Ending months of speculation, the Donald Trump administration cut off India from duty-free access to the US market under its largest preferential trade scheme, but New Delhi played down the impact of the move and is unlikely to contest it. Read more

Samsung finds govt sops to resume TV production not according to its script

Samsung India, the largest electronics manufacturer in the country, does not find the central government’s offer of incentives to restart television manufacturing attractive enough. Read more 

Sebi asks Sun Pharma to explain alleged fund diversion of Rs 42,000 crore

Sebi has sought an explanation from Sun Pharmaceutical on the alleged fund diversion of Rs 42,000 crore through its key distributor and subsidiary Aditya Mediasales. Read more

Canadian fund plans to invest about Rs 1,800 crore in Edelweiss arm

Canadian pension fund manager CDPQ will invest about Rs 1,800 crore ($250 million) in ECL Finance, the non-banking financial company of Edelweiss Group. Read more

Tata Motors, Mahindra provide Indian spark to Geneva Motor Show

The 89th version of the Geneva International Motor Show is finally here. The 11-day event, which opens to the general public on Thursday, will showcase expensive luxury cars and supercars. One of the oldest motor shows in the world, it will witness this year a host of electric vehicles and electric concepts, which will set the tempo for brands in the future. Read more

Govt to focus on lowering tax rate and widening base, says Arun Jaitley

Finance Minister Arun Jaitley on Tuesday told an industry delegation that the focus of the government was on lowering tax rates and expanding the base. Read more

NBFC crisis fallout: BNP Paribas-owned Sharekhan drops plan to enter biz; may surrender license

French banking group BNP Paribas' NBFC plans in India may have fallen prey to the present crisis ailing the industry, reports Moneycontrol.

Power sector woes: Govt departments owe Discoms over Rs 30,000 cr in dues

Power distribution companies (Discoms) need to recover over Rs 30,000 crore from State government departments alone, reports Hindu Business Line.

PE firms set to drive consolidation in India's auto components industry

A wave of consolidation may soon sweep India’s fragmented auto components industry as top private equity firms are buying and aggregating mid-sized parts makers to tap the lucrative global market, reports Livemint.