Top headlines: Sebi settlement cycle sparks concern, Ola delays e-scooter

Business Standard brings you the top headlines of the day

The market believes a shorter settlement cycle proposed by Sebi may hamper price discovery and lead to other inefficiencies. Ola says it is postponing the sale process of its electric scooter S1 by a week to September 15.

Read more about those stories and other top headlines for the day.

Concerns loom as regulator bites the bullet on T+1 settlement cycle

Market participants believe that the move to a shorter T+1 settlement cycle from 2022 will not be easy and require a coordinated effort among exchanges, depositories, and clearing corporations.

Two different settlement cycles on different exchanges for the same scrip can cause liquidity to fragment, which may hamper price discovery and lead to other inefficiencies. Read more

Cracking the whip: Panel puts resolution professionals under the scanner

From lack of experience and sectoral expertise to absence of a single independent regulator, the universe of resolution professionals (RPs) has come under the scanner. While some of these issues have been raised by the standing committee in its recent report, government sources insist that there are already enough checks and balances in place for RPs. Experts, however, feel that a peer review or audit and a single regulator might help bring uniformity of approach to the profession. Read more
 

I-T portal glitch: FM's reprimand of Infy reflects contractual weaknesses

The public reprimand by a minister of a private contractor — in this case, the Bengaluru-based IT major Infosys — is unprecedented. Yet no one in the finance ministry is keen to explore alternatives such as a court case in the disp­ute with Infosys on the tech glit­ches on the website for income tax payers. It is too early, demurs one of those involved in the process; but it is also a fact that government departments do not have a great record in pursuing and winning such cases. Read more

Ola Electric postpones S1 electric scooter sale by a week to Sep 15

Ola Electric has postponed the sale process of its electric scooter S1 by a week to September 15 as it faced "technical difficulties" in making the website for purchases live for customers on Wednesday.

The company had last month launched the Ola S1 electric scooter in two variants -- S1 and S1 Pro -- at Rs 99,999 and Rs 1,29,999, respectively (ex-showroom including FAME II subsidy and excluding state subsidies). Read more

At least 14 in Taliban Cabinet on UNSC's terrorism blacklist: Report

At least 14 members of the Taliban's hardline interim government in Kabul are on the UN Security Council's terrorism blacklist, including acting Prime Minister Mullah Mohammad Hasan Akhund and his both deputies, raising concern of the international community over the composition of the new Cabinet in Afghanistan. Read more