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Finance Ministry invites bids from transaction advisors for LIC’s mega IPO, may hit the market in second half of fiscal
The government currently owns 100 per cent in LIC.The IPO which was announced by finance minister Nirmala Sitharaman while presenting the Budget 2020, is likely to hit the market in the second half of the current fiscal.
Sitharaman said government wants to raise around Rs 90,000 crore from its disinvestment plans in IDBI, where it holds 46 per cent and LIC, where it has 100 per cent stake and may offload 10-12 per cent of its holding.
Fitch cuts India’s sovereign rating outlook to ‘negative’
“The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed the challenges associated with a high public-debt burden,” the ratings agency said in a statement.The move comes after Moody’s downgraded India earlier this month to a notch above junk, falling in line with other global agencies, while also cutting its outlook to ‘negative’. But S&P shortly after affirmed its rating and maintained a ‘stable’ outlook.
U.S.based RIMS and Prudent Insurance Brokers collaborate to support India’s risk management community
“For organizations to remain resilient, they must be proactive and ready to adapt to rapid changes in our business and social environments,For risk professionals, education and knowledge sharing are critical components of strong risk programs and decision-making. RIMS is proud to continue to support India’s growing risk management community and, with PIBL, deliver a wide-range of learning experiences”, ” said RIMS CEO Mary Roth. .
Non-payment of salaries to medics a criminal offence: Govt to inform states
A bench comprising Justices Ashok Bhushan, Sanjay Kishan Kaul and M.R. Shah asked the Centre to issue necessary directions to states and Union Territories, and sought a compliance report in four weeks.
The top court noted that non-adherence to the Centre’s direction by states will be treated as an offence under the Disaster Management Act and sections of the Indian Penal Code.
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