Lenders Losing Sleep over RBI’s New StricturesBankers are sweating over what is likely to be a tough time in the next fiscal year as the Reserve Bank of India (RBI) is expected to unleash stringent rules, tightening provisioning requirements for project finance, introducing a new expected credit loss (ECL) framework and imposing a higher liquidity coverage ratio (LCR) for deposits to hedge against sharp outflows through digital channels.
Midcap Funds Get Ahead of Large-caps in AUM RaceThe share of assets under management (AUM) by midcap funds has surpassed that of large-cap funds by 0.6 percentage point, the most on record, as per data from the Association of Mutual Funds in India.
SC: States Can Collect Tax on Mining from April 2005 The Supreme Court ruled on Wednesday that its July 25 judgment upholding the power of state governments to tax mineral rights and mineral-bearing lands would apply with retrospective effect from April 1, 2005, despite the staunch opposition of the Centre and mining companies. Their demand that states’ right to tax be applied prospectively was rejected.