Top 10 biz headlines: India opts out of RCEP, Jhunjhunwala's YES Bank stake

India opts out of RCEP; PM Modi says key issues remain unresolved
 

The government on Monday said India will not join the Regional Comprehensive Economic Partnership (RCEP) deal, adding that doing so would adversely affect the national interest. Read more.

Sale of Rs 37,500 crore worth of BSNL, MTNL assets hits ownership hurdle
 

The sale of assets by Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) is likely to take longer than expected, as their buildings registered before 1988 are owned by the Department of Telecommunications (DoT). The telecom companies have to buy these properties from the Centre before monetising them. “Even if the sale happens for no amount, the transaction has to be registered with a sale deed,” said a government official aware of the development. Read more.

Bank CEOs' pay: Half of remuneration to be variable, no guaranteed bonus
 

The Reserve Bank of India (RBI) on Monday said at least half the compensation offered to chief executive officers (CEOs) and whole-time directors in private banks should be variable pay linked to the performance of the individual, the business unit and the bank. Read more.

Acquisition of power plants to boost JSW Energy's growth prospects
 

Shares of JSW Energy have attracted investor attention in the last one month, and were up 4.8 per cent on Monday too. The company’s improving prospects led by inorganic growth and its plans to double power generation capacity over next 3-5 years, is keeping the Street bullish. Read more.

One-time gains propel HDFC earnings in an otherwise steady Sep quarter
 

Housing Development Finance Corporation (HDFC) on Monday reported above-estimated earnings for the September 2019 quarter (Q2) which were largely boosted by one-off gains. Excluding such gains, the performance of the core business was stable across most parameters. Read more.

Thyagarajan to fill in when Ajay Piramal quits as Shriram Capital chairman
 

While billionaire Ajay Piramal is likely to step down as chairman of Shriram Capital (SCL), holding company of the Shriram Group’s financial services business, founder R Thyagarajan might oversee the company until the board of directors identifies a replacement, according to sources. Read more.

Zydus Cadila receives USFDA warning letter for its Moraiya facility
 

Drug firm Zydus Cadila on Monday said it has received a warning letter from the US health regulator for its Moraiya-based formulation facility. Read more.

Rakesh Jhunjhunwala takes a 0.5% stake in YES Bank for Rs 86 crore
 

Ace investor Rakesh Jhunjhunwala bought a 0.5 per cent stake in troubled private-sector lender YES Bank for Rs 86 crore on Monday. Data from exchanges showed that Jhunjhunwala bought 12.9 million shares of YES Bank at price of Rs 67 apiece in a bulk deal on the BSE. Read more.

Toxic air chokes capital region’s tourism business
 

Following disruption of normal life and a spike in respiratory illnesses in Delhi, foreign and domestic tourists are cancelling or cutting their stay in the capital as a toxic smog envelops the capital. Delhiites also appear to be moving out of the city on short holidays to nearby hill stations and other cities, reports The Economic Times.

Banks to insist on new investor for DHFL before clearing resolution plan
 

According to a report, the Reserve Bank of India (RBI) is understood to be uncomfortable with the idea of banks buying a 51% stake in Dewan Housing Finance (DHFL). For implementing DHFL's resolution plan, banks have been waiting for clarity from the central bank, reports Financial Express.