Top1 eadlines: Govt gets 33% stake in Vi; AI, AirAsia to tweak flight path1

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Banking sector remains resilient amid Adani Group's stock rout, says RBI

The Reserve Bank of India (RBI) on Friday said the banking sector remained resilient in terms of its assessment, and bank exposures to companies were well within norms. This came amid concern over lenders’ financial health due to the stock rout in the Adani group. Read More
 

Govt gets 33% stake in Vodafone Idea, promoters to invest as well

After a long wait, Vodafone Idea (Vi) has been able to secure a lifeline as the Centre on Friday approved the conversion of the telco’s dues linked to interest on spectrum and adjusted gross revenue (AGR) worth Rs 16,133 crore into equity. With this, the government will have a 33 per cent stake, making it the biggest shareholder in the financially-stressed telecom joint venture between UK’s Vodafone and Kumar Mangalam Birla-owned Aditya Birla Group. Read More

Air India, AirAsia to tweak 'flight path' to avoid internal competition

Air India and its wholly-owned subsidiary AIX Connect, which flies under the brand name AirAsia India, are likely to streamline their flight operations on nine domestic routes to avoid internal competition, sources said on Friday. Read More

CDSCO probes Indian eyedrops after US FDA flags contamination risk

After the US regulator Food and Drug Administration warned consumers "not to purchase or use EzriCare Artificial Tears due to potential contamination", the Central Drugs Standard Control Organization (CDSCO) under the Union Health ministry and the Tamil Nadu State Drug Controller have initiated a probe into the pharma firm producing this eyedrop, a source aware of the issue said on Friday. Read More
 

Disallowing input tax credit may increase CSR cost, impact beneficiaries

The corporate social responsibility (CSR) cost of companies is likely to increase with the restriction on availability of goods and services tax (GST) input tax credit proposed by the government. Read More