Top headlines: SBI likes Tata Air India bid; markets sweat over Evergrande

McLeod Russel India, the country's largest tea producer, bubbles out of insolvency. Metal stocks crash over fears about China's Evergrande. More in top headlines of the day

India's largest public lender State Bank of India will support Tata group's bid for national carrier Air India. Market regulator Securities and Exchange Board of India, ahead of its implementation date, made changes to the circular that mandated a fifth of compensation to key employees of asset management companies in the form of mutual fund units. 

More on these stories and other top headlines of the day:

SBI to back Tata's bid for Air India

India’s largest public sector bank State Bank of India (SBI) will support Tata group’s bid for soon-to-be-privatised Air India by subscribing to Tata Sons debentures