NSO releases revised estimates of India’s economic growth

The National Statistical Office released revised estimates for economic growth of India for the last three years, on January 31,2020. As per the report, it fixed the actual GDP growth 2018-19 at 6.1%, against its previous estimate of 6.8%, estimated ..

India- Maldives projects inaugurated

In early December, the Prime Minister of India and the President of Maldives jointly inaugurated 4 development projects in the island nation: LED lighting project in Mahe – will save 80% of energy. RuPay card facility launched in Maldives. Inauguration ..

Finance Minister presents First Supplementary Demand of Grants

The Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman on Thursday, 28 November 2019 sought Parliament’s approval for capital infusion as a part of the first supplementary demand of grants for Rs 21,246.16 crore which will include: 1)About Rs, ..

ArcelorMittal’s takeover of Essar cleared by apex court

On 15 Nov, the three judge bench of the Supreme Court has accepted world’s largest steelmaker, Arcelor Mittal’s offer to pay an aggregate Rs 42,000 crore as an upfront amount to the secured financial creditors of bankrupt Essar Steel.  This ..

MCA notifies Insolvency and Bankruptcy Rules, 2019

On 15 Nov, the Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules).  The rules will provide a framework for insolvency and ..

CCI nod for merger of BOB and BNPP

On 14 Nov, the Competition Commission of India (CCI) has approved the merger of the BNP Paribas (BNPP) Mutual Fund and the Baroda (BOB) Mutual Fund, under the Competition Act, 2002. The parties propose to amalgamation includes BOB BOB Asset ..

SEBI’s norm for issuers of municipal bonds

On 12 Nov, the Securities and Exchange Board of India (Sebi) prescribed wider disclosures and compliances norms by the issuers of listed municipal bonds. As per the SEBI norms, listed entities should submit half-yearly unaudited financial results to the stock ..

Don Valentine, founder of Sequoia Capital passes away

Don Valentine (87), an American venture capitalist who founded Sequoia Capital, has passed away in Woodside, Calif. Valentine spent nearly 40 years working in Silicon Valley, and Sequoia Capital is widely credited with cementing California’s Bay Area as the tech ..