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Saturday, November 25, 2023

IOC, Gail fined for second straight quarter for failing to meet listing norms

State-owned oil and gas giants IndianOil, ONGC, BPCL, HPCL, Oil India Ltd, and Engineers India Ltd have been fined for the second quarter in a row for not having the requisite number of independent directors on board. The fines were imposed by the BSE and NSE, but the companies stated that the appointment of directors is done by the government and they have no role in it. Listing norms require companies to have independent directors and at least one woman director on the board. The companies have requested a waiver of the fines.

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Economic growth likely to pick up on festive, rural demand: RBI

India's economic growth is expected to improve in the latter half of FY25, driven by festive activity, rural demand, and agricultural gr...