Sebi plans change in norms to trim promoters' sway on independent directors
The market regulator suggested a “dual approval” process for the appointment and removal of independent directors. At present, an independent director can be appointed or removed by way of an ordinary resolution, where all shareholders, including promoters, are allowed to cast their vote. Read more
Spectrum auction: Telcos place bids worth Rs 77,000 crore on Day 1
Coming five years after the 2016 auctions, the much-awaited 4G spectrum bidding, where Reliance Jio emerged as the most active participant, has assured the government revenues of more than Rs 77,000 crore in four rounds on day one itself. Read more
Mumbai 'cyberattack' puts focus on the need for greater security
According to a New York Times report, a Chinese government-backed cyber hack was behind the Mumbai power outage, which was meant to send a message to the Indian government at the height of tension between the two countries in Ladakh. Read more
From instant noodles to honey, Marico develops an appetite for foods
Best known for its Parachute coconut oil and Saffola edible oil, Marico
is eyeing a broader play in foods. Saffola is the brand that will champion its foods play and has already seen five quarters of double-digit growth, pushing the company to set ambitious targets in foods. Read more
UPI registers 2.29 billion transactions worth Rs 4.25 trillion in Feb
Unified Payment Interface (UPI), the flagship payments platform of the National
Payments Corporation of India (NPCI), recorded 2.29 billion transactions worth Rs 4.25 trillion in February. Sequentially, the transactions dipped 0.42 per cent by volume and 1.39 per cent by value over January because of the fewer number of days in February.
However, year-on-year, the transactions were up 73 per cent by volume and more than 90 per cent by value. Read more
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