News digest: SMEs face liquidation, crackdown on tax evaders, and more

State Bank of India has raised its rate on all bulk term deposits by one per cent (100 basis points) from Friday

Nearly 70% of stressed SMEs face liquidation

Around 70 per cent of small and medium enterprises (SMEs) undergoing insolvency proceedings face liquidation, as their promoters are the only ones presenting resolution plans. The recent ordinance amending the Insolvency and Bankruptcy Code (IBC) virtually debars promoters from bidding for their stressed assets. Experts said at least 200 of the 300-odd SMEs would have to face liquidation. Read more

Fund managers make switch to high-growth AIF industry

Marquee fund managers are making the switch from mutual funds to newly introduced alternative investment funds (AIFs), which are seeing a rapid growth in