RBI may blink on PCA, not on NBFC window in today's board meeting
The Reserve Bank of India (RBI) may agree to bring some public sector banks (PSBs) out of the prompt corrective action framework (PCA), but it is not likely to accede to the government’s demand to set up a special refinance window for non-banking financial companies (NBFCs) at the board meeting of the central bank on Monday, sources said. Read more
Zee may divest 20% in OTT biz; eyes music, gaming segments to take on Jio
Zee Entertainment Enterprises might spin off its over-the-top (OTT) entertainment streaming channel, Zee5, into a subsidiary or a step-down subsidiary, in which it might offer up to a 20 per cent direct stake to a global strategic investor, said sources in preliminary discussions with the group.
The investor will also be offered up to 20.8 per cent in Zee Entertainment, or half of what the promoters own in the listed company, as announced last week. Read more
The mutual fund (MF) industry has sought a meeting with the Securities and Exchange Board of India (Sebi) at the earliest, while seeking clarification on the market regulator’s diktat that all scheme-related expenses should be booked in respective schemes.
For liquid schemes that are under the regulator’s scrutiny, the MF industry has asked it to consider allowing redemption-related borrowings costs to be borne in asset management companies’ (AMCs’) books. Read more
India Inc Q2 earnings growth highest in 7 quarters, combined net up 16.2%
Corporate India reported a good set of numbers during the July-September 2018 quarter, thanks to gains from a low base during the corresponding quarter last fiscal year and a better-than-expected showing by metals and mining firms.
The combined net profit of 1,889 companies across sectors was up 16.2 per cent year-on-year (YoY) during the second quarter (Q2) of 2018-19, growing at the fastest pace in the last seven quarters. Earnings were down 10.8 per cent YoY during Q2 of last fiscal year. Read more
Marathas to get reservation in jobs, education institutes: Maharashtra CM
The Maharashtra government has accepted the State Backward Class Commission's report and decided to give quota in jobs and educational institutes to the Maratha community, Chief Minister Devendra Fadnavis said Sunday.
The reservation will be granted to the community under a new category called 'Socially and Educationally Backward Class' (SEBC) as per the recommendation of the commission, he said. Read more