Top headlines: SBI loan to Sri Lanka, T+1 settlement cycle, and more

From State Bank of India to T+1 settlement, here are the top headlines on Tuesday morning

The curious case of $1-billion SBI loan to debt-ridden Sri Lanka

The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India’s financial aid to the troubled island nation. Read More

Tata Sons likely to earn record Rs 27,797 crore from its listed firms

Tata Sons, India's biggest promoter in the private sector, is expected to earn a record Rs 27,797 crore via equity dividend and proceeds through share buyback from its listed group companies for the financial year 2021-22. This amount is up 17.6 per cent from Rs 23,663 crore that it pocketed in FY21. Read More
 

States seek legal views on Supreme Court ruling before GST Council meet

Some states are taking a legal view on the state GST rate and the compensation rules ahead of the Goods and Services Tax (GST) Council meeting, which is likely to be held in mid-June, said people in the know. While the agenda is still being finalised, several states are likely to take up the matter related to GST compensation and may pitch for its continuation beyond the June 30 deadline. Read More
 

Disclose embedded value for September-March period: Centre to LIC

The Centre has asked LIC to disclose its embedded value (EV) for the September-March period as against the insurer’s plan to declare the same only one year after it shared its last embedded value of Rs 5.39 trillion. Read More

FPI concerns remain as shift to T+1 settlement cycle nears: Analysts

Overseas investors, as well as other key stakeholders, such as brokers, custodians, and clearing corporations, are yet to iron out critical issues, even as the shift towards a shorter trade settlement cycle approaches new phases. Read More