News digest: IL&FS told to cut loans, trouble for Jet Airways, and more

The RBI asked IL&FS Financial Services, a 100 per cent subsidiary of IL&FS, to bring its exposure down within a year

IL&FS Financial told to cut loans to group firms

The Reserve Bank of India (RBI) has asked IL&FS Financial Services to reduce debt exposure in all IL&FS group entities by March 2019, in conformity with the regulations on group debt exposure for non-banking financial companies (NBFCs). Read more

Jet faces MCA probe on siphoning of funds  

The corporate affairs ministry is probing allegations of fund siphoning at Jet Airways, the country’s second-largest domestic airline by market share. “The probe is at a crucial stage. Read more

IITs, HRD minister veto ministry’s proposal to scrap JEE Advanced

The human resource development ministry’s plan to scrap JEE Advanced — the joint entrance examinations for Indian Institutes of Technology (IITs) — for easing admissions has been vetoed by the IIT Council, and by HRD Minister Prakash Javadekar himself. Read more

PMS ticket size may go up fourfold

The Securities and Exchange Board of India (Sebi) is considering doubling or even quadrupling the minimum ticket size for investment in portfolio management services (PMS) schemes. Read more