Top 10 business headlines: Norms for MFs, 5G spectrum auction, and more

From Sebi norms for MFs to 5G spectrum auction, Business Standard brings to you stories that made the headlines on Thursday

Sebi tightens norms for MFs, pledged shares to boost investor confidence

The Securities and Exchange Board of India (Sebi) on Thursday introduced more checks and balances for debt mutual funds (MFs) to secure investors and stem systemic risks. READ ON...

Ease of doing business policy to explore scrapping of licence raj
 

The government will soon come up with an overarching National Ease of Doing Business policy, aiming to phase out the licensing requirement for businesses. With its target to see India in the top 50 in the World Bank’s Doing Business ranking, the Department for Promotion of Industry and Internal Trade (DPIIT) has circulated a draft Cabinet note on the proposed policy for inter-ministerial consultation. READ ON...

Failure of large HFCs similar to bank collapse, says RBI report
 

India’s financial system remains stable due to the improved resilience of the banking sector, but from a contagion risk perspective, if a large housing finance company (HFC) fails, it would impact as much as the failure of a large bank, the Reserve Bank of India (RBI) said in a report on Thursday. READ ON...

5G auction: Reliance Jio joins industry chorus for low spectrum pricing

With the 5G spectrum auction nearing, Reliance Jio has joined the incumbent telecom operators to demand lower reserve prices, and that more quantum of airwaves be made available to them. Telcos feel that before fixing spectrum prices, one needs to consider its revenue potential. READ ON...

Finance Ministry tells state-run banks to shore up credit to MSMEs
 

The finance ministry has told the chief executives of all public sector banks (PSBs) to review credit facilities made available to micro, small and medium enterprises (MSMEs) and take ‘corrective’ measures to ensure the firms get adequate funds. READ ON...

L&T's stake in Mindtree crosses 60% as open offer is fully subscribed

L&T’s ongoing open offer for buying shares in Mindtree was subscribed by 1.08 times by the end of trading hours on Thursday, taking its stake in the IT firm to over 60 per cent. READ ON...

Promoters infuse Rs 2,250 crore in DLF against issuance of new equity share
 

Promoters of realty major DLF have infused Rs 2,250 crore in the company against issuance of new equity shares. The fresh infusion through two holding entities — Rajdhani Investments & Agencies and DLF Urva Real Estate Developers & Services — takes the promoters’ collective stake to 74.95 per cent in the company. READ ON...

Flipkart plans to roll out electric vehicles for last-mile deliveries
 

Walmart-owned e-commerce firm Flipkart on Thursday unveiled plans to introduce electric vehicles (EVs) for its last-mile deliveries across the country. The initiative is part of Flipkart’s sustainability commitment to reinvigorate efforts towards building technologies for solving crucial environment and civic issues, the company said. READ ON...

Circular on TDS worries expat directors of MNC subsidiaries
 

The government’s move to tighten regulations that would serve as a deterrent for tax evaders has got the India heads of several multinationals worried, reports The Economic Times.
 

Gilead’s HIV drug remains costly despite the company’s promise to slash its price
 

US pharmaceutical firm Gilead is not living up to its promise of supplying the life-saving anti-fungal drug liposomal amphotericin B (LAmB) at cheaper rates, the non-profit MSF (Médecins Sans Frontières, or Doctors Without Borders) has said, reports Business Line.