Kerala reiterates demand to Centre in increasing the borrowing limit

Thiruvananthapuram, May 15: Kerala Chief Minister, Shri Pinarayi Vijayan today repeated the demand of the State Government to increase its borrowing limit from the current 3% to 5%. “Because of the lockdown, there has been a drastic fall in the revenue collection and to overcome the financial constraints, we need a hike in the borrowing limit. The Central Government has recently increased its borrowing limit to 5.5% but the State’s limit is still at 3%. Despite repeated requests, the Centre has not bothered to increase the borrowing limit. It is…

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Kerala brings ordinance to defer Government employees’ salary

Thiruvananthapuram, April 29: In the wake of the financial crisis created by the spread of the Covid-19 pandemic, the Kerala government had decided to defer the payment of six days salary of government employees for the next five months but the Kerala High Court had stayed the order. Chief Minister, Shri Pinarayi Vijayan announced that in the context of the High Court order, the cabinet meeting held today has decided to recommend to the Governor to promulgate an ordinance to give legal effect to the government’s decision.

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Muthoot Finance to acquire IDBI Mutual Fund

Mumbai: Kochi based Muthoot Finance Limited, a leading gold loan NBFC in the country, has entered into a definitive agreement to acquire IDBI Asset Management Limited and IDBI MF Trustee Company Limited paving way for Muthoot Finance’s entry into Mutual Fund Asset Management space. The transaction is expected to be completed by end of February 2020 subject to receipt of necessary regulatory approvals. Upon closing, both IDBI AMC and IDBI MF Trustee Company will become wholly-owned subsidiary companies of MFIN.

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