Top 10 business headlines: Sebi blinks on CMD role, layoffs in Oyo, Walmart

From Nusli Wadia withdrawing defamation suit against Ratan Tata to fiscal deficit for FY21, Business Standard brings you the top business headlines of the day

Nusli Wadia withdraws defamation suit against Ratan Tata

Nusli Wadia, chairman of the Wadia group of companies, formally withdrew a defamation suit against Tata group patriarch Ratan Tata, after the latter informed the Supreme Court that he had no intention to defame Wadia. Read here

Heavy penalties likely on Banks, bankers 

The Reserve Bank of India (RBI) may impose heavy penalties on banks, and stipulate higher provisioning for stressed loans following a supervisory review of its June 7 circular. Read here

FY21 fiscal deficit likely to be around 3.5%

Union Finance Minister Nirmala Sitharaman could target a