The unfolding of the Satyam scam in January 2009 and collapse of its stock price in a single trading session had brought the issue of pledged shares by promoters to the forefront. Our regulators, who tend to realise the existence of a loophole after it has been exploited to the hilt, woke up and changed the regulations on disclosure of pledged shares.
The government seems to have made an earnest attempt to resolve the financial stress in the corporate sector. Data put out by corporate affairs secretary Injeti Srinivas drives home the fact that de-stressing corporate assets and resolving banks’ sticky loans is on a firm path.
The governments at the centre and in the states should crack down on the dubious practice by hotels and restaurants of slapping a service charge on customers. There is no reason for restaurants and hotels to levy anywhere between 5 per cent and 20 per cent service charge. It is also known that in many cases the service charge proceeds are not distributed among staff.
jammu and Kashmir may have to go through yet another phase of President’s rule after Governor’s rule ends next month. Owing to the break-up in the BJP-Peoples Democratic Party (PDP) alliance, Mehbooba Mufti’s chief ministership ended in June 2018 and the state was brought under Governor’s rule.
The charge by opposition parties against the government on pursuing jobless growth may need scrutiny. The latest data put out by the Employees Provident Fund Organisation (EPFO) points to a fresh addition of 79.48 lakh subscribers to various social security schemes in 13 months ending September 2018.
Putting an end to the mess in the Central Bureau of Investigation (CBI) and restoring the agency’s credibility must be of paramount importance for the government. Years of policy paralysis under the UPA and keeping the CBI mess in fetters seem to have taken a toll on the country’s premier investigation agency.
As reported by this paper in its Monday edition, almost 20 per cent of the Flipkart work force is seeking a change in a bid to move to other companies. Apparently their names are floating on job portals. Whether this sort of mass exodus has been triggered by the unceremonious exit of group CEO and co-founder Binny Bansal or there is something more to it, is a matter for speculation.
Shadow boxing between India and China seems to be going on with no end to the muscle flexing in the South Asian region. The political upheaval in Sri Lanka and change of guard in Maldives has a clear imprint of the two Asian biggies haggling for dominance in the region.
The seemingly conciliatory note sounded by RSS ideologue Swaminathan Gurumurthy on the rift between RBI and government – when he says friction between them is undesirable – is a good development but it is difficult to say whether it can be considered a good omen for the November 19 meeting of the RBI board.
Ratan Tata’s dream of owning a top-notch pan-India airline with reach to the western world may come true. If Tatas take Jet Airways – with reports suggesting its merger with Tata-SIA – along with its controlling stake in Vistara and Air Asia, the venerable group will complete its aviation arch to evolve as the largest player in the tricky Indian market.