Top Headlines: Night curfews return; FMCG firms ready to deal with issues

Business Standard brings you the top headlines at this hour.

Covid-19 pandemic: Night curfews return as Omicron scare grips India

Several states imposed tougher restrictions on Friday as the Omicron tally touched 358. Maharashtra banned the assembly of more than five people in public places between 9 pm and 6 am, while poll-bound Uttar Pradesh (UP) and Haryana both imposed a night curfew — 11 pm to 5 am — from Saturday. Read more
 

Shriram regroups for the future with succession plan, business integration

Recently, a member from the family of one of the founders of the Shriram Group posted the Chennai-based financial conglomerate’s old vision: “Creating wealth, professionally managed.” This month, the management of the group with revenue of over Rs 1 trillion stood by this vision by creating a durable succession management model and restructuring itself into a streamlined entity through the setting up of a new body via the merger and demerger of several businesses. Read more
 

Omicron spread: Night curfews may affect services sector recovery

With many states imposing night curfews ahead of the Christmas season to curb the spread of Omicron, the nascent recovery in the contact-sensitive services sector -- such as hospitality, tourism, travel, and entertainment -- may be affected. During the second wave of the pandemic earlier this year, while manufacturing mostly held up, services contracted in May, June, and July, according to the purchasing managers’ index (PMI) data. Read more
 

FMCG companies prepared to tackle logistics issues amid Covid surge

Supplies of essential products and fast-moving consumer goods (FMCG) are expected to remain uninterrupted even as there is the threat of the third wave of the pandemic. The learnings from the first two waves, coupled with the government allowing seamless transportation across state borders, will ensure steady supplies of goods, ranging from edible oils to groceries and snacks. Read more
 

Corporate-promoted NBFCs can have 15% stake in banks, with increase in cap

Corporate houses, which are not allowed to own a bank, can now pick up 15 per cent stake in commercial banks through their non-banking financial companies (NBFCs). This is because the Reserve Bank of India (RBI) has allowed non-promoters to hold up to 15 per cent in private sector banks, following the recommendation of an internal working group (IWG). Read more
 

Farm politics dominated 2021 and its outcome will be seen in state polls

On January 26, 2021, a nation watched aghast as a group of people, purportedly farmers, climbed atop the central dome of the Red Fort and planted a flag there, making a statement about the farmers’ protests over three farm laws. For close to 12 months, farmers blocked roads, stopped traffic, and, via their supporters in Parliament... Read more