Top headlines: 41% of FAME II target met, cut in Byju's valuation and more

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Deadline nearing, only 41% of Centre's FAME II scheme target met so far

With only 10 months left before the deadline for the Centre’s flagship electric vehicles (EV) promotion scheme — Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME-II) — ends, the government has sponsored only 41 per cent of the target of more than 1.5 million EVs since the launch of the scheme in March 2019. Read more...

Growth momentum to hold amid easing inflation, says RBI annual report

After averaging 6.7 per cent in 2022-23 (FY23), the consumer price index (CPI)-based inflation rate may moderate in the current financial year, the Reserve Bank of India (RBI) has said, noting that risks are decreasing with downward corrections in the global commodity and food prices and the easing of the pass-through from high input cost pressures of last year. Read more...

Amfi to form ethics panel to curb misconduct in asset management companies

The Securities and Exchange Board of India (Sebi) is guiding the Association of Mutual Funds in India (Amfi) to form an ethics committee to take action against individual misdemeanours in asset management companies (AMCs). Read more...

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BlackRock cuts edtech giant Byju's valuation by 62% in a year to $8.4 bn

US asset manager BlackRock has again reduced the valuation of its share in edtech giant Byju’s — this time to about $8.4 billion, according to its filing with the Securities and Exchange Commission (SEC) for the March quarter. Byju’s latest valuation, as estimated by BlackRock, is around 62 per cent down from the peak of $22 billion in April 2022. Before this, BlackRock had reduced the start-up’s valuation to $11.5 billion (as of December 31,2022). Read more...

HC cannot interfere with resolution process of Go First: IRP tells court

The Interim Resolution Professional (IRP) of Go First on Tuesday told the Delhi High Court that parallel proceedings could not go in the case and that the court could not interfere in the resolution process. Senior advocate Harish Salve, appearing for the IRP, told the court that a writ court (the high court in this case) should not interfere in the resolution process after the insolvency application had been accepted by the National Company Law Tribunal (NCLT). Read more...

First Published: May 31 2023 | 7:56 AM IST

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