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In a notification dated July 27, the central government gave the RBI the powers to administer the FDI regime, which include allowing the central bank to interpret various rules and grant exemptions pertaining to FDI. The change could cut down the processing time for FDI applications to 5-6 weeks compared with 3-4 months currently, market participants say.
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India imposed a lockdown across the country from March 25. This was eased in stages in May but July saw localised shutdowns due to Covid-19 outbreaks. Increasing levels of Covid-19 cases across states that have triggered local lockdowns seem to have stymied recovery, stretching their finances as well.
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How to make money during Covid & after:ThakkarWe were underweight financials and cyclicals going into the event and FMCG, pharma, telecom gave us very good alpha.
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A 10-year-old albatross around Mahindra's neckSeveral global auto companies are said to be in the running for a minority stake in SsangYong Motor Co (SYMC), the ailing South Korean subsidiary of Mahindra & Mahindra.
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After moving 19 of its MLAs to neighbouring Gujarat, the Rajasthan unit of BJP has alleged that it was forced to do so as the Ashok Gehlot government was trying to poach its lawmakers from the weaker sections of the society through intimidation and allurements.
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News and Media
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