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value creation strategy. It directed them to cough up an annual dividend of at least 30% of their net profit or 4% of their net worth, whichever is higher. As per the earlier norms, the dividend payment requirement was 30% of the profit after tax or 5% of net worth, whichever was higher. The latest norms, however, specify that financial sector CPSEs like non-banking financial companies need to pay a minimum annual dividend of 30% of their profit after tax, subject to any limit under any extant legal provisions, according to the revised guidelines issued by the Department of Investment and Capital Asset Management (DIPAM). There was no separate directive for financial sector CPSEs in the guidelines issued in 2016. Any exemption from this requirement has to be sought from the finance ministry.

coal-based power plants have significantly higher coal stocks this winter season compared to last year, driven by better planning, increased coal production and enhanced rake supply, government officials said. Higher availability of coal has led to sufficient base load capacity in the last few months and will help meet upcoming winter peak demand, they said. As of November 17, coal stocks at domestic coal-based power plants were 52% higher year on year at around 33 million tonnes. Total coal stock at all power plants, including imported coal, was also 52% up at around 37 million tonnes.

Zee Entertainment Enterprises Ltd. (ZEEL), has decided to step down from the MD role to focus exclusively on his responsibilities as CEO, according to a company statement. Goenka will remain on the board as a Director, pending shareholder approval, the statement said, adding that the board has approved his request, citing the need for dedicated focus on ZEEL's operational growth strategy. This decision precedes a significant shareholder vote scheduled for November 28 regarding Goenka's reappointment as MD and CEO for a new five-year term commencing in January 2025.

TeamLease Services on Monday. The industry has identified a critical talent gap in specialised fields such as communication and broadcast electronics, consumer electronics, industrial electronics, and aerospace and defence electronics, said the recruitment and human resources services company. «The industry faces a dual challenge: a shortage of skilled workers and a lack of specialised technical expertise essential for advanced roles. Key areas like manufacturing, electronics design, and technical troubleshooting are particularly affected, where expertise is vital for innovation and operational efficiency,» the report said. «Without targeted training and upskilling initiatives, companies struggle to fill crucial roles, despite the rise in job opportunities, highlighting the urgent need to bridge this gap through focused efforts.»

Maritime Development Fund to support shipbuilding and repair clusters, according to union ports, shipping and waterways minister Sarbananda Sonowal. This move will supplement the ₹1.5 lakh crore upgrade plan for the ports sector for the next five years, which includes development of six deep draft ports, two transshipment hubs as well as green and smart ports. «We are also looking at developing hydrogen hub ports and multi-fuel bunkering ecosystem,» Sonowal told ET on the sidelines of an event.

Finance Commission is open to considering alternate index for devolution of funds to states with regard to natural calamities and state-specific issues, Chairman of the 16th Finance Commission Arvind Panagariya said here on Monday. The problems arising due to natural disasters were beginning to get more and more acute, he said and pointed out that the 15th Finance Commission has recommended partial devolution of funds. «The Commission is very much open to looking at alternate ways of measuring disaster relief, provided we can do it across all the states. The index has to be transparent and acceptable,» Panagariya told reporters after a long session with the Tamil Nadu government earlier in the day. Apart from Tamil Nadu, states like Himachal Pradesh which the Finance Commission had consulted, put forth a similar view. «Let me look into it if any particular type of disaster is not included,» the Chairman said.

Nirmala Sitharaman on Monday expressed concerns over the mis-selling of products, particularly insurance, stating that it adds to the customers' borrowing costs. Speaking at the State Bank of India Economist Conclave, on whether there is a case for a policy rate cut, the FM said «banks’ interest rates will have to be far more affordable» while adding that she does not want to get into the debate about whether perishables should be part of the inflationary measure index. Banks have facilitated the distribution of insurance project products, Sitharaman said. «While this model has significantly contributed to improving insurance penetration across the country, it has also raised concerns about instances of mis-selling … I would say, it added or contributed in indirect ways to the increased cost of borrowing for the customers.»

Abhyudaya Cooperative Bank board for another year till November 24, 2025 and asked Satya Prakash Pathak to continue as the administrator of the bank. Earlier, the regulator superseded the board on November 24, 2023 for a year due to material concerns arising from poor governance standards observed within the bank. RBI on Monday said that the extension of the deadline beyond the close of business on November 23, 2024 was necessary in public interest.

ease of doing business and digitalization are driving the structural shift in the domestic banking system while banks also in the last decade have not focused on deposits, SBI Chairman C S Setty said on Monday. «I think it is also a sign of a maturing investment climate and the digitalization, which has played an important role (in driving people to invest at places other than banks),» Setty said at a panel discussion on the 'role of young leaders for Viksit Bharat@2047' hosted by SBI here. He was responding to a question on the increasing concerns over deposit mobilization as more and more people are looking at other avenues of putting their money to use as opposed to bank deposits. Doing banking a few years ago was too much of a «pain» and investing in SIP was also not an easy task, the SBI chairman said.

Nagaraju M on Monday said he is «sceptical» about cryptocurrencies like Bitcoin and stressed on the need to adopt a cautious approach on such assets. Speaking at an event organised by SBI, Nagaraju backed the Reserve Bank's «careful» stance on such assets. It can be noted that the RBI has been vehemently opposing any recognition of crypto over the years on a slew of factors, primarily stemming from the financial stability concerns. «I am also very sceptical of cryptocurrency. Not now, not after becoming the financial secretary. Even as an individual, I am very doubtful of the entire scheme of cryptocurrency,» Nagaraju said speaking at an event organised by SBI.

Make in India and production linked incentive schemes for different sectors are helping attract foreign investors to set up bases in India, according to industry chamber CII. In a letter to Commerce and Industry Minister Piyush Goyal, CII Director General Chandrajit Banerjee said that the government's increased investments in infrastructure such as roads, railways and ports are making the domestic industry more competitive. The policy shift within India has also occurred at the same time as geopolitical conditions have become favourable for India, with many global companies looking to diversify their geographical base, the letter, dated November 5, said. "FDI inflows have increased from USD 45.14 billion in 2014-15 to USD 70.95 billion in 2023-24, indicating the growing interest of foreign investors for setting up base in India," it said, adding that the PLI schemes have attracted huge investments.

Sabarmati Aviation and JetAir 17 against budget carrier Spicejet at the National Company Law Tribunal (NCLT) on Monday. The NCLT issued a notice to the airline over the plea by operational creditor Sabarmati Aviation while asking another complainant, JetAir 17, to file additional documents in support of its claims of USD 27 million. During the proceedings, senior advocate Krishnendu Datta representing SpiceJet submitted that a reply would be filed over the plea of Sabarmati Aviation. However, he opposed the plea of JetAir 17 contending that their claims as an operational creditor are disputed.

unemployment rate for people aged 15 years and above in urban areas dipped to 6.4 per cent in the July-September quarter, according to the National Sample Survey Survey (NSSO). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the September quarter of FY24 was 6.6 per cent. The unemployment rate for people aged 15 years and above in the previous April-June quarter of FY25 was 6.6 per cent in urban areas, the 24th Periodic Labour Force Survey (PLFS) showed.

India International Trade Fair, an official statement said on Monday. The Government e-Marketplace (GeM) is an online platform that facilitates end-to-end procurement of goods and services by various central, state ministries, departments, organisations, public sector undertakings, panchayats, and cooperatives. The online portal was established with a clear objective to eliminate cumbersome and archaic manual public procurement processes that were riddled with inefficiencies and transparency-related issues. GeM is onboarding the Indian sellers and service providers by conducting an extensive registration drive at its pavilion at the India International Trade Fair (IITF), the commerce ministry said.

MakeMyTrip on Monday announced that it has signed a Business Transfer Agreement to acquire Happay Expense Management Platform from CRED. The acquisition is in line with MMT's commitment for comprehensive corporate travel and expense management solutions, mentioned the company in a press release. Happay is a leader in expense management, with robust capabilities in product development, data-driven insights, and scalable solutions that consistently drive value and efficiency for clients. Under the agreement, Happay brand, its expense management business, and its dedicated team will transition to MakeMyTrip.

Content-to-commerce company The Good Glamm Group on Monday announced completion of 100 per cent acquisition of The Moms Co. The Good Glamm Group, in October 2021, acquired a majority stake in The Moms Co through a cash and stock deal, leading to partial exits for The Moms Co founders and full exits for investors like DSG Capital and Saama Capital. The remaining shares held by the founders were fully acquired by The Good Glamm Group over the last two years, wrapping-up the 100 per cent acquisition, according to a release. The latest announcement comes on the heels of the Group completing the Sirona transaction and its increases in shareholding in other portfolio brands Organic Harvest and Winkl.

NTPC Green Limited, a wholly owned subsidiary of NTPC Limited on Monday announced a 50:50 Joint Venture of with ONGC Green Limited (OGL), a wholly-owned subsidiary of Oil and Natural Gas Corporation Limited. ONGC NTPC GREEN PRIVATE LIMITED (ONGPL) will be engaged in exploring and setting up Renewable Energy (RE) projects and assets both through Greenfield development and acquisitions. It will also assess the feasibility and establishment of offshore wind projects, among other related activities.

Microfinance company Fusion Finance may cease to be a "going concern" if the lenders do not agree to its request for a moratorium on loans for at least a year or if it fails to raise resources, independent auditor Deloitte Haskins and Sells said. «The company's ability to continue as a going concern is dependent on obtaining waivers from demand by lenders for immediate repayment of borrowings for a period of at least 12 months from the balance sheet and / or securing sufficient funds from other resources such as successful sale of loans, rights issue and refinancing of borrowings,» the audit firm said in its note. The NBFC-MFI is negotiating with lenders to get a waiver from the right of immediate repayment for a period of at least 12 months from the balance sheet date. The lenders have so far not waived their right to demand immediate repayment.

Public Distribution System (PDS) never reach their intended beneficiaries and the economic loss to the exchequer is forecast at over ₹69,000 crore annually, a new report by the Indian Council for Research on International Economic Relations (ICRIER) has revealed. The analysis indicates that around 20 million tonnes of rice and wheat, meant to feed 814 million people under government programs, are either diverted to the open market or exported. «This is an annual loss. Where is it going? Maybe it is being diverted to the open market or even for exports,» said Ashok Gulati, Infosys Chair Professor at ICRIER and one of the authors of the policy brief, along with Raya Das and Ranjana Roy. The report draws on data from the Household Consumption Expenditure Survey (HCES) and the Food Corporation of India’s (FCI) monthly offtake figures from August 2022 to July 2023. It highlights that despite improvements, the leakage of subsidised grains remains substantial, causing both financial and logistical strain.

These measures are part of the Insurance Amendment Bill, which is set to be tabled during the upcoming winter session of Parliament. The move aligns with the government’s broader goal of achieving "Insurance for All by 2047," a vision recently emphasised by Insurance Regulatory and Development Authority of India (Irdai) chairman Debasish Panda.

Garuda Aerospace on Monday said its agri-drone fleet has achieved one million flight hours in the past year, marking a significant advance in the country's adoption of drone technology in farming. The company's 2,000-strong fleet of agricultural drones has been operating at a rate of one deployment every two minutes, the company said, supporting farmers across India with precision agriculture and crop monitoring services. The company's Agri Kisan Drone program provides precision farming services, including targeted pesticide spraying and crop monitoring. Garuda holds six DGCA approvals and operates under government initiatives including the NAMO Drone Didi Program.