Top headlines: Grover quits BharatPe board, India’s Ukraine evacuation

Ashneer Grover resigns from BharatPe board amid boardroom battle

Ashneer Grover, the embattled founder of fintech unicorn BharatPe, has resigned as the managing director and a director on the company’s board, according to a source close to the development. This comes amid a tussle in the company where Grover has found himself on the opposite side of the Board, key investors in the company and his co-founders. Read more

Taking over Sebi’s reins: Madhabi Puri Buch all set to hit ground running

Madhabi Puri Buch’s elevation to chairperson’s post at the Securities and Exchange Board of India (Sebi) follows a hard grind as a whole-time member (WTM) of the markets regulator between April 2017 and October 2021. According to industry watchers, Puri Buch has a consultative approach when it comes to policymaking. She was instrumental in bringing path-breaking changes to the MF industry. These include a further reduction in the cost of investing, increasing skin-in-the-game for MFs, and introducing more safeguards for debt schemes. Read more

Russian invasion of Ukraine: Indian firms put dollar bond plans on hold

With the international markets facing uncertainty after Russia invaded Ukraine and Western nations retaliated with sanctions, Indian companies are putting their international fundraising plans on hold as they wait for the markets to recover. Bankers said apart from the geopolitical crisis, international rates are hardening in anticipation of interest rate hikes by the US Federal Reserve to control rising prices in the US. Read more

Reserve Bank of India to take stock of banks’ exposure to Russia, Ukraine

With the Russian invasion into Ukraine prompting the West to impose tough sanctions on Russia, the Reserve Bank of India (RBI) is also gauging the extent of damage to the Indian banking sector due to the worsening geopolitical situation. The Indian Banks’ Association (IBA) called a meeting with top banks of the country on Monday. It asked them to submit detailed information on their exposure to both Russia and Ukraine. Read more

The evacuation: How India is bringing its students home from Ukraine

Four top ministers were dispatched on Monday as India’s special envoys to countries neighbouring Ukraine to facilitate and speed up the evacuation of Ind­ian students from the war-torn nat­ion. And all stranded Indians were advised to move to West Ukraine but not reach the border directly. Read more

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