Tuesday, 2 March 2021
Cayman Islands' grey list tag may hurt FPI investments into India
The Cayman Islands, one of India’s richest routes for foreign investments, has been put on the grey list of countries/regions for increased monitoring by the Financial Action Task Force (FATF), an inter-governmental body that sets anti-money laundering standards. It is also the third-most preferred source of foreign direct investments into India, based on the data for the first half of FY21. Read more
Sebi plans change in norms to trim promoters' sway on independent directors
The market regulator suggested a “dual approval” process for the appointment and removal of independent directors. At present, an independent director can be appointed or removed by way of an ordinary resolution, where all shareholders, including promoters, are allowed to cast their vote. Read more
Spectrum auction: Telcos place bids worth Rs 77,000 crore on Day 1
Coming five years after the 2016 auctions, the much-awaited 4G spectrum bidding, where Reliance Jio emerged as the most active participant, has assured the government revenues of more than Rs 77,000 crore in four rounds on day one itself.