Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
A bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter. Rohatgi said they are willing to pay Rs 2,500 crore today (Monday) and another Rs 1,000 crore by Friday but no coercive action be taken against the company. He urged the bank guarantee deposited with the government by Vodafone should also not be encashed.
The bank wanted to run a background check on some Indian promoters.
MGNREGA scheme: A significant Rs 17,370.58 crore has been carried forward over to the next financial year as unpaid dues as demand for work continued unabated for the scheme in rural areas.
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
Air India is seeking government approval to raise a Rs 2,000 crore loan and refinance $819 million aircraft debt, which would help tide over the financial crisis.
The Supreme Court has dismissed the appeal of ACC Cement, ruling that if a product is manufactured by one firm and sold by another with the latter's brand name, that sale would attract sales tax, not the first transaction.
The Supreme Court has refused to interfere with the government and RBI's loan moratorium policy, and declined to extend the six-month loan moratorium period.
The stimulus package announced by the government for the revival of the pandemic-hit economy has been found to be "inadequate", according to a Parliamentary panel report. The report of the department-related Parliamentary Standing Committee on Industry on the impact of COVID-19 pandemic on micro, small and medium enterprises (MSME) sector has noted that in the process of economic recovery post-first wave of the pandemic, the second wave has even more vigorously ripped the economy particularly the MSME sector. "The committee observes that the stimulus package announced by the government for the economic revival from the pandemic hit economy has been found to be inadequate as the measures adopted were more of loan offering and long-term measures instead of improving the cash flow to generate demand as immediate relief," it said.
