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Mint Morning Digest

Centre to rework IBC reform proposals

The government is set to further rework reforms planned in the Insolvency and Bankruptcy Code (IBC) to step up the pace of salvaging sinking businesses and open up the distressed assets market in India to overseas creditors to recover their dues. Read more

Personal income tax drives 40% rise in direct tax mop up

The Union government has achieved over a third of the direct tax collection target for this fiscal year during the April-July period, with personal income tax collection exceeding corporation tax mop-up amid tightened enforcement and compliance measures, official data showed. Read more

IndoStar Cap turns profitable after 3 years amid scrutiny

After seeing losses for the past three years, IndoStar Capital Finance Ltd returned to profit in the June quarter, thanks to lower credit cost provisions in the commercial vehicle segment. The non-bank lender recorded a net profit of 60.93 crore, against a net loss of 36.80 crore a year earlier. Read more

Opinion | Much needs fixing by the Centennial of independence

It was the early 1960s. Every time we travelled to the village, we found our grand-uncle (my father’s uncle) in front of his enormous house, always surrounded by people. And we often overheard him say, “You are blessed to be born in independent India." Read more

 

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