Top 10 business headlines: Pension benefits, new telecom policy, and more

Govt approves pension option for over 42,000 employees of PSU insurers

In a big bonanza to over 42,000 employees of public sector insurance companies, the government Saturday decided to give one more pension option as retirement benefit to these left over officers and staff who missed the opportunity in the past.

This benefit is applicable to those who have joined any of the Public Sector Insurance Companies (PSICs) on or before June 28, 1995. Read more here 

ICICI-Videocon case: Chanda Kochhar, husband appear before ED in Mumbai

Former ICICI Bank CEO Chanda Kochhar and husband Deepak Kochhar appeared before the Enforcement Directorate in Mumbai Saturday in connection with a money-laundering case related to a bank loan fraud, officials said.

The two reached the central agency's regional office in Ballard Estate area around noon, a day after the ED raided their premises. Read more

Sebi tightens norms for liquid MFs, takeover regulations of firms under IBC

The Securities and Exchange Board of India (Sebi) tightened the valuation methodology for liquid mutual funds (MFs) and did away with the open offer exemption given to those seeking to acquire assets undergoing insolvency resolution.

To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn’t have to do so for securities that had less than 60-day maturity. More details

New telecom policy to allocate 'non-commercial' spectrum at market price

The spectrum meant for non-commercial use, mainly for defence, police, railways and public broadcaster, will be allocated at the “market-determined price”, according to the new telecom policy.

Broadly, spectrum allocation will be based on non-commercial captive use and non-commercial public use. The first category of spectrum is mainly utilised by defence or police for their internal purposes. The second category is used by the public broadcaster, Doordarshan. Full report

RCEP countries agree to intensify negotiations to conclude trade pact

The 16 members of RCEP group including India and China on Saturday agreed to intensify the ongoing negotiations for a proposed mega trade agreement to resolve all issues and conclude the talks this year.

The progress of negotiations were reviewed during a meeting of all the trade ministers of 16 countries in Cambodia, which concluded Saturday. Click here to read more

Gujarat sees a surge in small drug firms eyeing regulated export venues

The country’s pharma hub Gujarat has, of late, witnessed a surge in small-sized drug firms eyeing regulated markets like the US and Europe for exports. Traditionally, small and medium players had focused on the semi-regulated markets such as Latin America and Africa, among others.

However, with big pharma firms focusing on specialty drugs in the US market, owing to pricing pressure in plain vanilla generics, the smaller players have seen an opportunity in this space, partially vacated by the large ones. Read more here

How the centre of gravity of India’s startup ecosystem is shifting towards B2B startups

Brand ambassadors can work wonders. Umesh Sachdev, 33, knows well how to make that magic work. The co-founder of Uniphore Software Systems — a littleknown Chennai-based startup that uses technologies like speech recognition to help improve customer experience for enterprises — has managed to get a formidable brand ambassador who also do duties as investor, mentor and salesman, all rolled into one, the Economic Times report.

Four major port trusts to buy Centre’s stake in DCI for Rs 1,056 cr

Four major port trusts will buy the Central government’s 73.47 per cent stake in Dredging Corporation of India Ltd (DCI) for Rs 1,056 crore at Rs 510 per share.

Central government-owned Visakhapatnam Port Trust, Paradip Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust are paying a whopping 42.26 per cent premium a share to buy the government holding in DCI, at least two people briefed on the deal said, asking not to be named, the Hindu Businessline reported.

The Rajdhani at 50

What were the important events of 1969? Too many.

You may think of the moon landing. So let me refine the question. What were the important events in India? Split in the Indian National Congress, bank nationalization? For train travel, it should be the introduction of the Rajdhani Express on 1 March 1969, 50 years ago. Bibek Debroy for Livemint writes.

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