Former Mumbai mayor Vishwanath Mahadeshwar passes away

The government is considering a creditor-led insolvency resolution mechanism under the bankruptcy law to fast-track settlement and ease the burden on the National Company Law Tribunal (NCLT), people aware of the development said.

Bengaluru headquartered digital payments firm Razorpay is in the process of moving back its parent entity to India from the US, amid tighter sectoral regulations, said two people aware of the matter.The development comes months after Walmart-owned online payments firm PhonePe shifted its holding company to India from Singapore.

The finance ministry has declined to intervene in a plea for relief made by the insurance industry, which is facing penal action from tax authorities for goods and services tax (GST) input tax credit violations.