Business highlights

Following are the top business stories at 1825 hours:

DEL69 BIZ-RBI-GOVERNOR-INTERVIEW RBI Guv: Govt must continue reforms; green shoots of recovery need to sustain

New Delhi: Reserve Bank Governor Shaktikanta Das on Monday said that on the back of countercyclical measures undertaken by the government, structural reforms need to be continued to revive demand and support the economy.

DCM5 BIZ-LD JSW STEEL-NCLAT NCLAT allows JSW Steel to acquire Bhushan Power

New Delhi: The National Company Law Appellate Tribunal on Monday allowed JSW Steel to acquire Bhushan Power & Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution by the Enforcement Directorate.

DEL55 BIZ-AGR-TELCOS Tata Group, Voda Idea make part payment towards statutory dues: DoT sources

New Delhi: Vodafone Idea and Tata Group have made part payment of about Rs 2,500 crore and over Rs 2,190 crore, respectively, to the telecom department towards statutory dues, a government official said on Monday.

DCM46 BIZ-LD MOODYS-INDIA Moody's cuts India growth projection to 5.4 pc for 2020

New Delhi: Moody's on Monday slashed India's growth forecast for 2020 to 5.4 per cent from 6.6 per cent projected earlier, on slower than expected economic recovery.

DCM56 BIZ-MISTRY-APPEAL Mistry files appeal in SC; says his family deserved more relief from NCLAT

Mumbai: Less than a month after the Supreme Court stayed an order reinstating him as Tata Sons chairman, Cyrus Mistry has moved the apex court seeking removal of many anomalies in the NCLAT order, saying his family deserved more relief from the tribunal. DEL61 BIZ-LD STOCKS

Market ends lower for 3rd day as macroeconomic worries persist Mumbai: Domestic equities clocked losses for a third session in a row on Monday as worries over economic slowdown and financial impact of coronavirus outbreak continued to play in the minds of investors.

DEL14 BIZ-LD AIRTEL-AGR PAYMENT

Airtel pays Rs 10,000 crore to govt towards statutory dues New Delhi: With the government coming down heavily on telcos after the Supreme Court's rap, Bharti Airtel on Monday said it has paid Rs 10,000 crore to the telecom department towards statutory dues.

DEL67 BIZ-RUPEE-CLOSE

Rupee rises 8 paise against US dollar Mumbai: The Indian rupee appreciated by 8 paise to settle at 71.29 against the US dollar on Monday, helped by some moderation global crude prices.

DCM60 BIZ-SEBI-ADVISERS

Sebi to tighten eligibility norms for investment advisers, fees to be capped Mumbai: With an aim to safeguard investors' interest, markets regulator Sebi on Monday decided to tighten its eligibility norms for investment advisers and decided to introduce an upper limit for their fees.

DCM51 BIZ-ECONOMISTS-AGR-DEFICIT

Payment of AGR dues to bring down fiscal deficit to 3.5% in FY20 Mumbai: Payment of adjusted gross revenue dues of Rs 1.20 lakh crore by telcos will reduce the fiscal deficit for 2019-20 to 3.5 per cent of the GDP from the revised estimate of 3.8 per cent of the GDP, economists at SBI said on Monday.

DCM28 BIZ-LIC-IDBI

No proposal to merge LIC Housing Finance with any other entity: LIC New Delhi: Life Insurance Corporation on Monday said there is no proposal to merge its subsidiary LIC Housing Finance Ltd (LICHFL) with any other entity.