MPC may opt for cut in liquidity, no rate hike: BS monetary policy poll
Economists and bond market participants do not expect the monetary policy committee (MPC) to change its accommodative stance or the repo rate on October 8 but they will keenly look for hints on policy normalisation, starting with the removal of excess liquidity. A Business Standard policy poll of 14 leading economists and bond market participants expects the status quo. But their prognosis about other policy outcomes varied widely. The repo rate is now at 4 per cent, while the reverse repo rate is at 3.35 per cent. Read more
New terms for settling retrospective tax cases may be unwieldy: Experts
The new terms for settling retrospective tax cases, particularly indemnifying the government, could be cumbersome and time-consuming for companies. They may struggle to come to terms with sweeping undertakings and declarations from the board and other shareholders, observed legal and tax experts. Besides, the indemnity bond format provides for any dispute being subject to jurisdiction of Indian courts. This could be another issue for declarants to be comfortable with, they say, adding a declarant may prefer his own home jurisdiction, or at least a neutral one. Read more
Prolonged battle ahead as ZEE Entertainment takes Invesco to court
A prolonged legal battle, up to the Supreme Court, may be in the offing as the corporate battle between Zee Entertainment Enterprises (ZEEL) and institutional investors, led by Invesco, spills over from the boardroom to the high court. Zee announced on Saturday that it moved Bombay High Court against Invesco for seeking an extraordinary general meeting (EGM) of shareholders for removing managing director (MD) and chief executive officer (CEO) Punit Goenka and appointing six of its nominees as directors. Read more
Facebook plans to boost investment in Indian innovative start-ups
Facebook is open to making more minority equity investments in Indian start-ups if they are based on innovation and have business models which can go global. Facebook India Managing Director Ajit Mohan, in an interview with Business Standard, said there would be more announcements on investments. Read more
Easing burden: Amount borrowed by non-financial firms fell 5.6% in FY21
The boom in corporate profits and a sharp fall in capex allowed India Inc to ease its debt burden last financial year. The combined borrowing by the top listed companies, excluding banks, insurance, and non-banking financial companies (NBFCs), were down 5.6 per cent year-on-year to Rs 30.8 trillion at the end of FY21 from Rs 32.7 trillion. It is the first decline in actual corporate borrowings in nearly two decades as loan repayments by companies exceeded fresh borrowings. 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
