ICICI bank case: Govt begins probing NuPower Renewables, five other firms

The Ministry of Corporate Affairs has started inspection of NuPower Renewables and five other companies linked to the ICICI Bank controversy, Union Minister P P Chaudhary said on Wednesday. Multiple agencies are probing the alleged lapses involving ICICI Bank's MD and CEO Chanda Kochhar and her family members. 

The lender is also carrying out an independent probe into allegations of 'conflict of interest' and 'quid pro quo' in Kochhar's dealing with certain borrowers. Chaudhary said the ministry ordered inspection under Section 206(5) of the Companies Act, 2013 on April 23, 2018 with respect to six companies linked to the ICICI Bank controversy. The inspection is with regard to "six companies, including the company namely NuPower Renewables Pvt Ltd and the matter is under progress," he told PTI in an interview. The minister of state for corporate affairs also said the Regional Director (Western Region) under the ministry is carrying out the inspection.

News digest: RBI policy review, e-way bill, ball tampering row, and more

Number of delisted companies on the rise; bourses may see more exits

Despite a record line-up of debuts on the bourses this year, India’s listed universe is shrinking, and shrinking fast.

Around 1,000 companies were compulsorily delisted in the past two years on the BSE and the National Stock Exchange (NSE). And, by some estimates, another 1,000-2,000 may be shown the door, effectively contracting the universe of listed shares by 30-50 per cent. Read more here

RBI may keep repo rate unchanged at 6% in April policy review: BS Poll

There is a clear consensus that the six-member monetary policy committee of the Reserve Bank of India (RBI) would keep the repo rate unchanged at 6 per cent next week.
But surprisingly, there is a narrow chance that the central bank may cut rates in the future, according to a Business Standard poll of 15 economists and treasurers. Read more here