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Mint Morning Digest
Disinvestment plan aims to up efficiency and investments: FM
Finance minister Nirmala Sitharaman said that the government’s disinvestment strategy is aimed at boosting the production and efficiency of state-run companies and attracting investments into the companies instead of shutting them down. Read more
Companies, not individuals, to run bankrupt biz soon
Incorporated entities such as firms will soon be allowed to run bankrupt businesses in place of individual administrators hired by lenders, said a person familiar with the development. The proposal will be released for public comments by the Insolvency and Bankruptcy Board of India (IBBI) in a fortnight. Read more
Warburg Pincus-backed insurer IndiaFirst Life charts IPO plan
After Life Insurance Corporation’s (LIC) IPO, another life insurer has drawn up plans to hit the public markets. IndiaFirst Life Insurance Co Ltd , an insurance company backed by state-owned lenders Bank of Baroda, Union Bank of India and private equity firm Warburg Pincus has initiated talks with investment banks for its proposed IPO. Read more
Private investment in India set to rise now, says IIFL chief
Private investment is set to increase in India amid rising interest rates and global economic changes, said IIFL Group chairman Nirmal Jain, a day after UAE sovereign wealth investor Abu Dhabi Investment Authority (ADIA) acquired a 20% stake in its mortgage financing arm. Read more
Rajya Sabha Elections 2022: Full list of winners
The results were declared in Karnataka and Rajasthan on Friday night but got delayed in Maharashtra and Haryana amid intense wrangling by rival parties over alleged breach of voting rules. Read more
New rules bar misleading ads aimed at children
The union government on Friday issued fresh guidelines to curb misleading advertisements, particularly those targeting children with a warning that a violation of the guidelines could attract a penalty of up to ₹50 lakh on manufacturers, advertisers and endorsers by the Central Consumer Protection Authority (CCPA). Read more