Wary of new emission norms, tractor makers urge govt to hold consultation
As new European emission norms for tractors are set to be implemented from 2026, tractor manufacturers in a recent meeting with the Centre urged it to... Key Points
The Tribune IndiaCompanies list challenges as Trai mulls stricter service quality norms
Industry executives say the proposed need for submitting state-wise data is also challenging as the network architecture is planned telecom circle-wise. Another issue pointed out by the telecom firms is around quality of service (QoS) norms for 5G. The telcos feel that network roll out is under progress, and they can be held accountable as per network roll out obligations. Key Points
Economic TimesAirtel gets penalty notice from DoT for alleged violation of subscriber verification norms
Telecom department for an alleged violation of subscriber verification norms has sent a notice to Bharti Airtel. The company said the notice is in regards to an alleged violation of terms and conditions with respect to subscriber verification norms under the Licence Agreement, pursuant to a sample customer application form (CAF) audit conducted by the Department of Telecom for September 2023. Key Points
Economic TimesRBI revises definition of politically-exposed persons for KYC purpose
The earlier norms pertaining to PEPs were open-ended and there was a lack of clarity on the definition, apparently leading to issues for bankers, parliamentarians and others. There were also concerns in certain quarters that PEPs were finding it difficult to get loans or open bank accounts. Key Points
Economic TimesTata Motors upgrades PV portfolio to comply with stricter emission norms; Maruti, Mahindra on course
Our portfolio has already transitioned to BS-VI phase 2 emission norms in February 2023, ahead of the regulation timelines. We have also enhanced the products with improved performance, added new technology features and increased warranty of our vehicles, PTI quoted Tata Motors Passenger Vehicles Managing Director Shailesh Chandra as saying. Key Points
Economic Times
Capital restructuring norms for CPSEs updated to add value
India's finance ministry has revised guidelines for capital restructuring by central public sector enterprises (CPSEs), aiming to enhance their value creation and shareholder returns. Key changes include a revised minimum annual dividend requirement and increased flexibility for share buybacks, bonus share issuance, and share splits. Key Points
Economic TimesIndia to take lead in defining global rating standards for ESG: Sanyal
Sanjeev Sanyal, a Member of the Economic Advisory Council to the Prime Minister, spoke at the Africa Partnership Conference in Mauritius about the need for clear Environmental, Social & Governance (ESG) norms. He emphasized the importance of globally recognized ESG norms and effective monitoring of their implementation. Sanyal also discussed India's economic growth, infrastructure development, and its aim to become the world's 3rd largest economy. Key Points
Economic TimesMumbai: Three dead in blaze in hotel that civic officials said had violated fire safety norms
Mumbai: Three dead in blaze in hotel that civic officials said had violated fire safety... Key Points
The Tribune IndiaRBI issues draft norms on fintech SROs
The RBI has invited applications for a self-regulatory organization (SRO) for fintech firms, either for the entire sector or for specific sub-sectors. The number of SROs to be recognized will be based on the number and nature of applications received. Key Points
mintRegulatory tightening an opportunity? 6 housing finance stocks with upside potential of up to 41%
First, it was unsecured loans, then it was housing finance companies and in the last two days, it has been micro finance companies. RBI has been taking stock of each segment of the financial service and tightening the norms so that accidents like 2018 can be avoided. Whenever there is tightening of norms, stocks from that sector tend to correct. The question is whether that correction is something which is an opportunity or not. One part of the answer lies in looking at overall market size and the growth. In the case of the housing finance segment, there is hardly any doubt about growth potential. So, if the growth potential then corrections are opportunities. But that is for companies which are able to adapt to the changing regulatory provisions, they will stand to gain in the long term. Key Points
Economic Times
RBI cracks down on alternative investment funds misuse
India Business News: RBI bars lenders from investing in AIF schemes to prevent 'evergreening' of loans. Evergreening refers to extending a new loan to repay an older debt. Key Points
Times Of IndiaGovt identifies high fleet emission levels in major car makers; stiff penalties recommended
The Indian government has identified elevated fleet emission levels in leading car manufacturers, including Hyundai, Kia, Honda Cars, Renault, Skoda Auto, Volkswagen India, and Nissan, exceeding prescribed standards. The Bureau of Energy Efficiency (BEE) is recommending hefty penalties for violations, urging carmakers to shift toward greener and less-polluting vehicles. Key Points
Economic TimesBharat NCAP norms to raise standards of cars in India. No more sasta & tikau hatchbacks
With Bharat NCAP, manufacturers such as Maruti Suzuki and Hyundai India will be expected to raise their standards. Unsafe cars will not sell in India. Key Points
ThePrintDelhi PG fire: MCD orders survey to check for violations
The Municipal Corporation of Delhi (MCD) has started a survey of all paying guest accommodations in the Civil Lines zone after a fire broke out in a women's PG accommodation. MCD will focus on the norms of the Delhi Master Plan 2021 and the height of buildings during the survey. There are no specific norms for operating a PG facility in residential areas and the corporation does not issue PG licenses. MCD has said that if the height of the PG building is more than 9m and accommodates more than 20 people, a fire NOC is mandatory. | Latest News Delhi Key Points
Hindustan TimesPatanjali Foods promoters to dilute 6% share to meet minimum shareholding norms, launches road show
Patanjali Foods, formerly known as Ruchi Soya Industries, plans to dilute a 6% stake through an institutional share sale, to satisfy minimum public shareholding norms of 25%. Current public shareholding in Patanjali Foods stands at 19.18%. Baba Ramdev led the Ruchi Soya acquisition in 2019 through the corporate insolvency resolution process. The firm will target global investors for the QIP and Offer for Sale (OFS), with a view to raise funds, depending on market conditions and interest of investors. The company's shares are frozen by the NSE and BSE, which froze shares in 21 promoter-led entities, including Patanjali Ayurved and Acharya Balkrishna, for violating the minimum public shareholding norms. Key Points
Economic Times
RBI relaxes alternate fund norms for lenders
India Business News: RBI relaxes AIF norms by requiring provisions only for debtor company investments. Dec 2023 rules aimed to prevent 'evergreening'. Fund of funds remai Key Points
Times Of IndiaOdisha cops detain 9 Bangladeshis for 'unauthorised' entry to Puri's Jagannath temple
Bangladeshi nationals were detained after complaint by VHP workers. Temple norms prohibit entry of non-Hindus to 12-century shrine. Key Points
ThePrintSensex Today | Share Market Live Updates: Sensex, Nifty expect positive start; Gift Nifty in green
Sensex Today | Share Market Updates: The Indian stock market is expected to gain at the start amidst mixed global cues and Gift Nifty trading higher than yesterday's close. Wall Street ended on a mixed note on Thursday, while Asian markets are also sluggish in today's trading. Key Points
MintGovernment relaxes norms for some small savings schemes
In case of Public Provident Fund, some changes have been made with regard to the premature closure of accounts. The government has relaxed the norms for various small savings schemes, including the Public Provident Fund (PPF) and Senior Citizen’s Savings Scheme. Key Points
The Tribune IndiaAditya Samant becomes India's 83rd chess Grandmaster
Maharashtra player Samant had already crossed the 2500 Elo mark in the live ratings and had obtained two GM norms, Hence, the third and final norm was all he needed to become India's latest Grandmaster. To become a GM, a player has to secure three GM norms and cross the live rating of 2,500 Elo points. Key Points
Economic Times
Five terror suspects arrested in Bengaluru
Bengaluru: Five persons radicalised to carry out terror attacks have been arrested with firearms and ammunition here, the police said on Wednesday. Provisions of the stringent Unlawful Activities (Prevention) Act were invoked against them. PTI Key Points
The Tribune India