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Reserve Bank of India-appointed administrator of Punjab and Maharashtra Cooperative (PMC) Bank has come up with a revival strategy where private investors can take over and convert the failed cooperative into a small finance bank. Potential investors have to submit their expressions of interest (EoI) by December 15, 2020.

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From top Japanese and Australian funds to those from Europe and the US, PM Modi will sell the India story to 20 global giants, with combined assets of $6 trillion, and pitch for long-term investments. The PM is scheduled to hold a round table with the CEOs and chief investment officers of top fund houses — ranging from Australian Super and Future Fund to Japan Post Bank and Ontario Pension — on Thursday.

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A positive message is being conveyed by the spate of economic data pointing to a rebound, finance minister Nirmala Sitharaman said on Monday, but asserted that sustaining the numbers in the months ahead will lend certainty to the recovery.

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Foreign direct investment (FDI) proposals with even minuscule Chinese holding will need government approval, with the Centre abandoning its earlier plan to set a floor for “significant beneficial ownership”.

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Annual premium on health covers have risen by 40%-70% for policyholders after insurance companies hiked rates following a regulatory diktat to widen coverage and standardise conditions with regard to exclusions.

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The government is banking on a widespread private sector participation to boost the leave travel concession (LTC) cash voucher scheme. As is the case of most such schemes, it is designed for central government employees, with suggestions to extend it to a larger base in the private sector, where leave encashment along with leave travel allowance (LTA) is not the norm.

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Even as Indians increase their spending with the easing of lockdowns, over 90% of respondents in a survey said that the pandemic has made them more careful with expenditure as against 75% of global respondents. ​​Indians are being increasingly careful with money despite many of them (56%) reporting a spike in spending in July compared to global peers (46%)

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Tata Group, India’s biggest conglomerate, and Jubilant Food-Works (which owns the franchise for Domino’s and Dunkin’ Donuts in India), are weighing a bid for Coffee Day Group’s hot beverage vending machine business, said people with knowledge of the matter. ​​The beleaguered Coffee Day Group is seeking Rs 2,000 crore for the business, which has piqued the interest of marquee global private equity funds too.

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