Sebi may propose removal of shareholding cap for setting up new bourses
Anti-profiteering body in talks with FMCG firms over GST rate cut benefits
The Securities and Exchange Board of India (Sebi) is considering liberalising rules for starting stock exchanges and depositories. According to sources, the market regulator is likely to propose removal of the shareholding cap for setting up stock exchanges and other market infrastructure intermediaries such as depositories. Read more
The National Anti-Profiteering Authority is calling large fast-moving consumer goods companies to understand if last November’s GST rate cut benefits were passed on to consumers.
Only two FMCG companies, Hindustan Unilever and Nestle, have approached the quasi-judicial body voluntarily. The GST benefits include both rate cuts and input tax credit available. The GST Council had reduced rates for over 200 items of common use on November 10 and the changes came into effect from November 15. Read more
Punctuality problem: Here's what is stretching the waiting time for trains
The wait for trains is becoming longer. The average delay on all trains was 53 minutes in 2017, up from 45 minutes in the prior year, according to independent estimates.The Indian Railways data states punctuality has dipped to 65 per cent during the week ended June 3.
The Howrah division in West Bengal is worst in punctuality at 34 per cent, followed by the Lucknow division at 39 per cent. Among zones, South East Central is the worst performer with punctuality of 43.8 per cent. Read more
DoT may approve merger of Vodafone, Idea Cellular in the next few days
The department of telecommunications (DoT) is likely to approve the merger of Vodafone and Idea Cellular in the next few days, making the combined entity the country’s largest mobile services operator.
Sources said all the wings of the DoT as well as Telecom Secretary Aruna Sundararajan had given a go-ahead to the merger. After signature by Communications Minister Manoj Sinha, the approval document will be sent to the companies. Read more
WPI inflation soars to 14-mth high; rises to 4.43% in May from 3.18% in Apr
A rebound in food inflation and a jump in fuel prices in May led to wholesale inflation in the country rising to 4.43 per cent, from 3.18 per cent in April, its fastest uptick in 14 months.
Figures released by the commerce ministry on Thursday showed that rising inflation in the wholesale price index (WPI) was mainly led by double-digit inflation in petrol prices, while food prices rose by 1.6 per cent after low growth or deflation for the last three months. Read more