Here is a collection of the most important stories this evening:
India should be able to meet fiscal deficit target for this FY; inflation is easing, FM Sitharaman says
India should be able to meet its budgeted fiscal deficit target for the current financial year, Finance Minister Nirmala Sitharaman said on December 14. Citing the latest inflation prints for November, Sitharman said that retail inflation has come back within the Reserve Bank of India’s tolerance band while wholesale price inflation has eased to a 21-month low.
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Moneycontrol Mutual Fund Summit | Compliance is not a burden, adherence to rules helps MF industry: SEBI member Barua
The mutual fund industry is benefited as a whole if there is a compliance with all rules and regulations rather than it being a burden, said Ananta Barua, a Whole Time Member at the Securities & Exchange Board of India (SEBI) on December 14. In his keynote address at the Moneycontrol Mutual Fund Summit, which was held today, Barua said that the mutual fund regulations are based on the principles such as disclosure or transparency, ease of investments, low cost vehicle, risk diversification, liquidity, prevention of miss-selling, avoiding conflict and aligning of incentives.
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Power producer NTPC to sell stake in green energy business- sources
India's largest power producer NTPC Ltd aims to sell a 20% stake in its green energy business this fiscal year, expecting to raise up to 30 billion Indian rupees ($363.97 million), three government sources said.
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Billionaire Anil Agarwal struggles to get backers for $19 billion chip plant
Billionaire Anil Agarwal is struggling to find financial backers for a planned semiconductor factory in India with an investment of as much as 1.54 trillion rupees ($18.6 billion), according to people familiar with the matter.
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Landmark Cars IPO booked 35% on bidding day 2, retail portion bought 32%
The public issue of premium automobile retailer Landmark Cars continued to see muted response from investors on December 14, the second day of bidding. Investors have bought 28.50 lakh shares against an offer size of 80.41 lakh shares, helping the issue subscribe 35 percent.
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WhatsApp Pay loses second India chief in four months
WhatsApp India's payments and financial services arm WhatsApp Pay has lost its second chief in a span of just four months with the exit of Vinay Choletti, who took over the position only in September. Choletti's exit comes just four months after former WhatsApp Pay India head Manesh Mahatme quit the post to return to Amazon as the Director of Product and Engineering in September. The move also follows the exit of WhatsApp India head Abhijit Bose on November 16.
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Is Raghuram Rajan gunning to be the next Manmohan Singh of Congress party?
If one looks closely, the career graphs of both Rajan and Manmohan have striking similarities. Both served in the Indian government and the central bank and have international repute.
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