Top headlines: YES Bank portfolio sale, NIRF rankings, monkeypox and more

Business Standard brings you the top headlines this hour

YES Bank says JC Flowers ARC base bidder for Rs 48k cr bad loan portfolio

YES Bank said on Friday it has selected JC Flowers ARC as its partner for the proposed sale of a stressed loan portfolio the private lender estimates to be at Rs 48,000 crore. In accordance with the Reserve Bank of India guidelines, the bank said in a BSE filing it proposes to run a transparent bidding process on the Swiss Challenge basis for the portfolio's sale using the JC Flowers ARC’s bid as the base bid. Read more...

IIT-M top education institute, IISc Bengaluru best univ: Govt ranking

The Indian Institute of Technology (IIT) Madras is India's best educational institute, according to a government ranking that put the premier engineering college at the top for the fourth year straight. IIT Madras led in “overall” and “engineering” categories, according to the education ministry’s National Institutional Rankings Framework (NIRF) 2021. Read more...

Adani Ports to boost trade lanes with joint Haifa Port acquisition

Adani Ports and Special Economic Zone said its acquisition of Haifa Port with a local Israeli partner will boost trade lanes with the company's Indian ports and could better connect Europe and the Middle East in the longer term. After a two-year tender process, Adani Ports and local chemicals and logistics group Gadot clinched the 4.1 billion shekel ($1.18 billion) winning bid for Haifa Port, Israel announced on Thursday. Read more...

No need to panic over monkeypox, have taken steps to curb it: Kerala govt

With Kerala reporting the first case of monkeypox in India, the state government and health experts are of the opinion that there is no need to panic as of now and the state has already taken adequate steps to minimise its spread. Health experts are of the opinion that the disease isn't as fatal as Covid. According to data available with the World Health Organisation, of the 3,413 monkeypox cases detected in 50 countries till June end, only one death has been reported in Nigeria. Read more...

Irdai says no decision on mandatory disclosure of insurance commissions

The Insurance Regulatory and Development Authority of India (Irdai) said on Friday it has not decided on a proposal for mandatory disclosure of commissions on policy documents. “It has come to the notice of the authority that concerns are being expressed in some quarters regarding mandatory disclosure of commissions on the policy documents. The concerns emanate from certain recommendations made by working groups constituted by the insurance councils,” said the insurance regulator. Read more...