The finance ministry is likely to compensate state-run oil marketing companies around INR 300 billion for under-recoveries in 2024-25 (Apr-Mar), a senior finance ministry official said. "We have received the request and are considering it; an announcement may come soon," the official said on the condition of anonymity. Oil marketing companies suffered under-recoveries to the tune of over INR 410 billion in FY25.Register to read
India's CPI inflation likely fell to its lowest level in over six years in June on the back of statistical effect of a high base and relatively low food prices. According to an Informist poll of 16 economists, headline inflation in June is seen falling to 2.3%, the lowest level since January 2019.Register to read
The Securities and Exchange Board of India Monday proposed allowing mutual fund asset management companies to manage pooled non-broad-based funds in a consultation paper on the regulatory framework on permissible business activities by their asset management companies. The regulator has sought comments from stakeholders on the consultation paper by Jul. 28.Register to read
In its fifth amendment to the Insolvency Resolution Process for Corporate Persons Regulations, 2016, the Insolvency and Bankruptcy Board of India has tightened fraudulent transaction norms, mandating stricter disclosure of "avoidance transactions" in resolution plans, the regulatory body said in a gazette notification. It has also barred post-facto inclusion of such wrongful transactions in resolution plans unless previously disclosed, the notification said.Register to read