Securities and Exchange Board of India (SEBI), in an order dated December 6, 2019, revealed charging a show-cause notice on stakeholders of UTI Asset Management Company (AMC) - State Bank of India, Life Insurance Corporation, and Bank of Baroda on July 19, 2019, towards regulatory action.The market regulator directed three public sector financial institutions -- LIC, SBI, and Bank of Baroda -- to dilute their stakes to below 10 percent in by December next year.In the case of non-compliance with directions, the shareholding and voting rights of these entities in UTI AMC and UTI Trustee in excess of 9.99 percent and corporate benefits will be frozen till the time they comply with the orders.Close The stakeholding of SBI, BoB, and LIC in UTI AMC is in contravention of an amendment to SEBI MF Regulations on March 13, 2018, requiring an asset management company (AMC) to be a sponsor and stakeholder holding 10 percent or more, of only one mutual fund, thereby reducing cross-holding in any … [Read more...] about UTI AMC-PSUs-SEBI Saga: Is it a special case treatment of SEBI relenting with extension for stakeholders SBI, LIC and BoB?
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You’re in the home stretch. You have an offer on the table from a potential employer (or even your current employer) and you are at a three-way crossroads between accepting an offer, declining, or submitting a counteroffer. Anxiety builds, doubt may creep in, and palms get sweaty. “Just don’t blow it” comes to mind flashing like a giant neon sign. advertisement advertisement Breathe. Keep calm. Don’t panic. Negotiating a salary or compensation package is a stress you can manage. It’s like an intricate dance learned over time: take one step forward, two steps to the side, spin, then come together. Keep in mind, however, negotiations are no spin on the Dancing With the Stars ballroom floor—no extravagant or wild displays, no improv. Simply stick to the steps. To teach us the negotiation dance, we turned to Deepak Malhotra, the Eli Goldston Professor of Business Administration at Harvard Business School and the author of Negotiating the … [Read more...] about You received a salary counteroffer. Now what?
Manas ChakravartyAt last, we know why the central government was so keen on trying to get the Reserve Bank of India (RBI) to part with its reserves or to speed up bank lending. It was a bit of a mystery why the government of the fastest-growing large economy on the planet was so concerned about growth. The results of the state elections tell us that huge sections of the population were being left out of that growth and the ruling party knew that and was terribly worried about it.The signs of disenchantment have been visible for quite some time. As we pointed out a few days ago, the Reserve Bank of India’s consumer confidence survey showed widespread pessimism about the economy, which has now been translated into votes against the government.Close Is there reason for concern? These were state elections, where local issues dominate and things may well be different in the national elections. More fundamentally, as some economic commentators point out, do governments really make all … [Read more...] about Opinion | What the results of the state elections mean for Modi’s Brave New India
Shaktikanta Das, the new Governor of the Reserve Bank of India (RBI), is taking charge of the central bank in less than propitious circumstances. His predecessor’s resignation was clearly a protest against the government trying to impose its will on the institution. In that context, Das’ most important task is a simple one --he will have to prove that he is his own man.Admittedly, the new incumbent at Mint Street starts off with a handicap. While his vast experience in managing economic affairs is not in question, he has an unfortunate reputation as the man under whom the government launched its controversial demonetisation programme. The speed with which he has been appointed has also raised questions whether this was the government’s game plan all along.While several bureaucrats from the Finance Ministry have gone on to become excellent RBI governors and have asserted their independence, they did not assume office in similar circumstances. Simply put, Das will have … [Read more...] about Opinion | Shaktikanta Das will have to prove he is his own man
Here are some stocks that are in the news today:CSB Bank: The lender is to make a debut on bourses on December 4, final issue price at Rs 195 per share.Close Ujjivan Small Finance Bank IPO closes today related news This stock has gained 77% in the last 14 consecutive sessions Shakti Pumps shares fall 3% after CARE revises credit rating BPSL insolvency: NCLAT asks ED, Centre to file affidavits on JSW Steel immunity plea on Dec 12 Crompton Greaves Consumer Electricals: SBI Mutual Fund bought 30,096,000 shares of the company through a bulk deal on BSE.Max India - IRDAI approves divestment of its 51% stake in Max Bupa Health Insurance Company to True NorthIFCI - ICRA revised ratings of fund based Bank limits, long term bonds (including Subordinated Debt) and bonds / NCD (Public Issue) from ICRA BBB to ICRA BBB-Future Consumer: CARE Ratings has re-affirmed its rating assigned to the company's commercial paper worth Rs 100 crore.Natco Pharma: The company had completed the … [Read more...] about Stocks in news: Max India, CSB Bank, CG Consumer, HDFC AMC, Bajaj Finance, Natco Pharma, NBCC