Top headlines: NHAI debt at new high, bourses to pay for glitches and more

Business Standard brings you the top headlines of the day.

Top headlines this hour: The National Highways Authority of India (NHAI) continues to accumulate debt at a fast clip. Markets regulator Sebi has announced new rules to make bourses pay for technical glitches. 

NHAI debt reaches new high of Rs 3.2 trillion; toll revenue dips 4%

The National Highways Authority of India (NHAI) continues to accumulate debt at a fast clip. The highway agency’s debt reached a new high of Rs 3.17 trillion at the end of FY21, up 27 per cent from Rs 2.49 trillion at the end of March 2020. In comparison, the highway toll revenues are estimated to have declined by 4 per cent last financial year to around Rs 26,000 crore, according to an analysis by ICRA Ratings. Read more. 

Sebi announces new rules to make bourses pay for technical glitches

The Securities and Exchange Board of India (Sebi) on Monday issued a detailed framework for penalising market infrastructure institutions (MIIs), which include stock exchanges, clearing corporations, and depositories, for technical glitches. “MIIs are systemically important institutions as they provide infrastructure necessary for the smooth and uninterrupted functioning of the securities market….For any downtime or unavailability of services, beyond such predefined time, there is a need to ensure that a ‘financial disincentive’ is paid by MIIs as well as their managing directors (MDs) and chief technology officers (CTOs),” the market regulator said in a circular. Read more.

CoWIN goes global: India makes tech open source, 142 nations show interest

India is making its digital platform for Covid19 vaccination drive, CoWIN, open source for all countries to access, adapt and use. This is perhaps the first time that any country is making a software platform developed by its public sector open for the world. 

Speaking at the CoWin Global Conclave on Monday, Prime Minister Narendra Modi said, “Soon, CoWIN will be available to any and all countries.” The software can be customised to any country according to local requirements. Read more. 

Top restaurant body moves CCI for redress on issues with Zomato, Swiggy

Alleging “anti-competitive practices” by Zomato and Swiggy, restaurant industry body National Restaurant Association of India (NRAI) on Monday said it has approached fair trade regulator Competition Commission of India (CCI) for a detailed probe against the food aggregators. Keeping the interests of restaurants in mind, NRAI on July 1 had filed information with the CCI, it said in a statement. Read more. 

Bharat Biotech-Brazil row: Covaxin nod under controlled conditions

As controversy over the $324-million deal for 20 million doses of Covaxin with Brazil brews, on Monday some reports pointed out that the Brazilian regulator had not granted Bharat Biotech — the makers of Covaxin — emergency-use authorisation (EUA). The Hyderabad-based company’s website noted that on June 4, ANVISA — the Brazilian regulator — had authorised the “exceptional import of Covaxin by the health ministry for distribution and use under controlled conditions”. Read more.