News digest: Govt tightens FDI norms, panel for RBI transfer, and more

Flash sales, discounts may stop; Amazon, Flipkart could suspend selling products of subsidiaries

Govt tightens FDI norms for e-com firms
 
Flash sales on Flipkart or Amazon might soon be a thing of the past, and the e-commerce giants might also find it difficult to sell products of firms in which they have a stake. Read more
 
Bimal Jalan-led committee to decide on RBI reserves transfer

The Reserve Bank of India (RBI) on Wednesday constituted an expert committee headed by former governor Bimal Jalan to review its economic capital framework, and whether the central bank needs to hold as much reserves as it currently does. Read more
 
Huawei sees red over ‘FTA disadvantage’

 
A non-level playing field is placing Chinese telecom gear manufacturer Huawei India at a competitive disadvantage vis-a-vis its new global rival Samsung — that’s the charge being made by Huawei India’s CEO Jay Chen. Read more
  
Rs 200 billion Compensation cess to help reduce fiscal deficit
 
The Centre will get roughly Rs 200 billion from a corpus not used so far — the excess amount of the compensation cess collected — to help it narrow its fiscal deficit for 2018-19, which breached the target by October. Read more
  
India Inc sees high-profile exits from the corner room

 
Not many Indian CEOs are likely to forget the year 2018 anytime soon. It’s a year that was marked by several big-bang exits from among their own ilk. While ICICI Bank Managing Director (MD) and Chief Executive Officer (CEO) Chanda Kochhar had to quit over allegations of quid pro quo, Infrastructure Leasing & Financial Services Vice-Chairman Hari Sankaran and the entire board were sacked by the government as the infrastructure financier failed to pay interest and principal on its debt of Rs 910 billion. Read more