A lobby group for startups in India is urging the government to change the criteria for shares with differential voting rights to allow founders and promoters to better safeguard their ownership control.
The proposals include a minimum 50% variable component, a compulsory deferral mechanism, and clawback provisions to ensure compensation reflects performance.
Following months of intense lobbying by e-wallet providers, the RBI has extended the deadline for completion of KYC processes by six months.
The central bank has changed its risk weighting norms for bank exposures to NBFCs, making it more costly to lend to those that are rated poorly.
Allahabad Bank and Corporation Bank have been released from PCA restrictions following the government's capital infusion last week; Dhanlaxmi Bank was found not in breach of any PCA risk thresholds.
Following feedback from clearing corporations, there will now be three haircut slabs depending on the type and tenure of government securities.
The Indian government has approved capital infusions into 12 public sector banks amounting to $6.8bn as part of its bank recapitalisation plan.
India’s central bank will pay a $3.9bn interim dividend to the government amid pressures to transfer its surplus reserves.
The draft directions under consultation include requirements related to administrators' minimum net worth, governance arrangements, and organisational structure, among other requirements.
The 20% cap limiting exposures to a single corporate entity was aimed at incentivising FPIs to maintain a portfolio of assets, but market feedback indicates it has instead had a contraining effect.
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