You are here: Home » Current Affairs » News » National
Business Standard

Top headlines: Air India sale may get govt Rs 15,000 cr, Sebi ban on Biyani

Bharti Airtel posted a consolidated net profit of Rs 854 crore in the third quarter of December FY21, after six straight quarters of losses. Read the top news in Business Standard today

top news of the day | Air India sale | Kishore Biyani

BS Web Team 

Air India
Air India aircraft

Govt may fetch Rs 15,000 cr from Air India sale

The government is expecting to fetch around Rs 15,000 crore from the sale of Air India, its subsidiary Air India Express and AISATS, according to officials and bankers involved in the divestment process. Prospective bidders are perhaps ascribing zero value to the equity of the financially-stressed company, a source said. Read more

Air India divestment expected to be closed in first qtr of FY22: DEA secy

The Centre is taking up some of the major disinvestment proceeds on priority, particularly of Air India and Life Insurance Corporation (LIC) of India, according to Economic Affairs Secretary Tarun Bajaj. Air India is expected to be closed in the first quarter of FY22, he said in an interview with Business Standard. Read edited excerpts here

Sebi sets one-year ban on for insider trading

The Securities and Exchange Board of India (Sebi) on Wedn­esday barred founder from the capital markets for a period of one year for alleged breach of insider trading regulations. The regulator directed Biyani and three other entities to disgorge more than Rs 20 crore made wrongfully by dealing in shares while in possession of unpublished price sensitive information (UPSI). Read more
2-6% target works well, no need to tinker with it: Sanjeev Sanyal

The target, which is due for the review in the next one-and-a-half months, may not change as the government believes the current goal under the monetary policy framework (MPC) has worked reasonably well.

In a conversation, the finance ministry's Principal Economic Advisor Sanjeev Sanyal said that the target range of 2-6 per cent does not require tinkering as the government rarely gone outside the range. Read more

M&A costs to go up after axes tax depreciation on goodwill

The merger and acquisitions (M&A) transactions are set to become costlier after the Budget announced on Monday proposed that goodwill (including existing goodwill) will not be eligible for tax depreciation. Read more

back in the black, posts Rs 854-crore profit in Q3

on Wednesday posted a consolidated net profit of Rs 854 crore in the third quarter of December FY21, after six straight quarters of losses. However, its Indian operations, despite a substantial improvement in financial performance, are still in the red, posting a loss of Rs 7.34 crore in the reporting quarter, though lower than the staggering Rs 628 crore in the previous one. Read more

FCI will have just Rs 59K cr of NSSF loans by FY22-end: Expenditure secy
With the Budget allocating Rs 4.23 trillion as food subsidy in FY21 and topping it up with another Rs 2.42 trillion for FY22, Food Corporation of India (FCI) will be left with just around Rs 59,000-crore unpaid loans by the end of next financial year, Expenditure Secretary T V Somanathan has said. Explaining the maths, Somanathan said FY21 started with a Budget estimate of around Rs 1.2 trillion as food subsidy. Read more

RBI unveils risk-based audit guidelines for select NBFCs, urban co-op banks
The (RBI) on Wednesday unveiled the risk-based internal audit (RBIA) system for select non-bank lenders and urban co-operative banks, with a view to enhance the quality and effectiveness of their internal audit system. Read more

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, February 04 2021. 09:02 IST