Top Headlines: IDBI stake sale, comprehensive package for Vi, and more

Queries shows a strong interest in the proposed IDBI transaction

Strong interest: DIPAM receives as many as 167 queries about IDBI sale

The Department of Investment and Public Asset Management (DIPAM) has received 167 queries from at least 9-10 potential serious bidders about the proposed stake sale and transfer of management control in IDBI Bank. This shows a strong interest in the proposed transaction. Read More

Airports rearranging departures, arrivals to avoid congestion: Scindia

Union Aviation Minister Jyotiraditya Scindia on Wednesday met the operators of major airports and other stakeholders on passengers facing long queues at terminals in the peak travel season. Later, in an interview with Deepak Patel, he talked about the steps being taken to deal with congestion, no decision about selling the Airports Authority of India’s (AAI’s) stakes in major airports, and the disinvestment plans for Alliance Air and other two units. Read More

Govt open to a comprehensive package for Vodafone Idea, with conditions

The government is open to the idea of a comprehensive package for the survival and revival of Vodafone Idea (VIL), besides what it has offered under a relief package for telecom companies, including converting part of their dues into equity – an option already availed by the debt-ridden telco. Read More

UPI to now allow blocking money for multiple debits, paves way for ASBA

The Reserve Bank of India (RBI) on Wednesday enhanced the capabilities of the Unified Payments Interface (UPI) by introducing a ‘single-block-and-multiple debits’ functionality, which allows a customer to enable a payment mandate against a merchant by blocking funds for specific purposes in his/her bank account which can be debited, whenever needed. Read More

RBI rate hike may halt rally in BFSI sector, pressure on bank NIMs seen

In its last monetary policy of the calendar year, the Reserve Bank of India (RBI) opted to hike policy rates by 35 basis points (bps) and affirmed monetary tightening would continue. The market reaction was marginal, with the Nifty50 Index down 0.44 per cent and the Bank Nifty down 0.1 per cent. The optimists had expected the RBI to hit the pause button after the US Federal Reserve signalled it was softening its hawkish stance. Read More