Why IRDAI, RBI need to follow Sebi on Adviser guidelines

The final pending circular will pin down the finer details, but the broad strokes are clear

TDSAT leaves order in Vodafone Idea premium plan case unchanged

• Trai had sought changes to the tribunal's July order, which said it was clear that the regulator’s probe into the validity of the premium plan for high-paying postpaid customers began due to Jio’s complaint.

Builders defer project launches due to market instability

The covid-19 crisis has added to the woes of the real estate sector which was already reeling under a prolonged slowdown

Banks sanction ₹1.37 trillion under emergency credit line guarantee scheme

Latest data show that cumulative sanction is 46% of the target of ₹3 trillion collateral free loan scheme backed by government guarantee

Trump’s order queers the pitch for H-1B workers

The move is set to hit Indian IT firms offering solutions to US federal govt projects

Facebook’s campaign talks about helping people solve covid woes

• Created and executed by advertising agency Taproot Dentsu, the consumer marketing campaign ‘More Together’ comprise four new films which are inspired by real stories and celebrates the people who came together in these trying times to help and support one another

Sashidhar Jagdishan, a banker who rose through the ranks over nearly 25 years

It remains to be seen how Jagdishan steers HDFC Bank's Massive loan book of over ₹10 trillion

Bollywood’s first batch of direct-to-digital releases fails to create buzz

• Hindi movies like Gulabo Sitabo, Dil Bechara, Shakuntala Devi, Ghoomketu, Yaara, Raat Akeli Hai, out of a list of scores of other acquisitions, have made it to video streaming platforms as theatres remain shut indefinitely, with producers making upwards of ₹60 crore on an average deal

NIIF backed Ayana Renewable acquires 40MW of solar assets from First Solar

• Ayana has acquired the two projects, located in Karnataka, India, as part of its strategic mission to deliver high-quality projects organically and inorganically, to create value for its shareholders

BlackRock, three others buy ₹10,600 crore of Bandhan Bank shares

• The holding company aims to use the proceeds to start new ventures in areas such as insurance and asset management, subject to RBI’s approval, Ghosh said
• Some of Bandhan Bank’s profitability metrics, including return on assets and return on equity, are the highest among Indian banks

The world’s one-time pharmacy now has a globalization headache

• The generics business is one of extreme price pressures
• Europe remains a manufacturing hub for more lucrative prescription medicines, and the most obvious answer might be to build more factories there

RBI board to meet on 14 August over dividend

• The dividend from RBI will come at a time when the Centre’s finances are under severe strain
• The government has budgeted ₹60,000 crore as dividends from RBI and state-run banks and financial institutions, according to the Union Budget 2020-21

Amid churn, non-banks explore consolidation option

• InCred, an NBFC backed by global private equity firms, including Investcorp, is seeking a merger with wholesale NBFC biz of PE firm KKR
• NBFCs such as Shriram Transport Finance, Mahindra and Mahindra Financial Services and PNB Housing Finance are relatively better off, but may not be free of stress

Manufacturing output shrinks at a faster clip in July than in June

• The IMF has estimated the Indian economy to contract by 4.5% in FY21, while Goldman Sachs expected the June quarter to be the worst
• Curbs imposed by states put the brakes on manufacturing at the national level

Covid-19 impact: Curtains for some cinema screens

• According to trade experts, since the beginning of the lockdown, 10-12% of cinemas have shut down permanently
• India had 6,327 single screens and 3,200 multiplexes as of 2019, according to the latest Ficci-EY media and entertainment industry report

Blue-collar jobs show revival  signs in metros

• Businesses driving demand include education services, agriculture and e-commerce start-ups, and testing
• The top metros have seen an exodus of migrant workers following the imposition of lockdown beginning 25 March

Music labels slap copyright infringement notices on new TikTok alternatives

'Many content sharing mobile applications are taking advantage of TikTok’s ban in India and to gain immediate success are using popular music, most of which belongs to T- Series without our permission,' says an official

Moody’s upgrades Yes Bank by a notch following capital raise

According to Moody’s, Yes Bank’s funding and liquidity have moderately improved in Q2 of 2020

Bandhan Bank holding firm sells 20.95% stake to meet RBI norms

• BFHL offloaded its stake to at least 7 investors, including GIC, Temasek, Morgan Stanley Asia Singapore
• GIC is an existing shareholder of Bandhan Bank and held 4.9% stake in the bank through Caladium, before Monday’s fresh purchase

India diesel sales: 2nd wave of lockdowns take hefty toll

Diesel sales at India’s three biggest fuel retailers dropped 13% in July from the previous month and were down 21% year-on-year