Top economy news of the day

India Infoline News Service | Mumbai |

SEBI has proposed to make it mandatory for companies planning to raise money through an initial public offer to appoint a monitoring agency to keep track of end use of funds

The inter-ministerial group, which is reviewing allocation of coal blocks, has decided to give more time to 10 companies to obtain final forest and environment clearance for the eight blocks that have not yet started production. (ET)

The Union Cabinet is expected to take up a proposal on Friday to increase the number of work days under the Mahatma Gandhi National Rural Employment Guarantee Act by 50 days to 150 days for the SC and ST beneficiaries. The Cabinet is also likely to consider a 10% increase in the dearness allowance of central government employees. (ET)

The mines ministry is examining the recently levied 5% export duty on iron ore pellets following representations from various manufacturers opposing its imposition, and would write to the finance ministry on the matter soon. (ET)

SEBI has proposed to make it mandatory for companies planning to raise money through an initial public offer to appoint a monitoring agency to keep track of the end use of funds. The move is aimed at ensuring that the funds raised are not misused, but utilized towards the objectives of the issue. (ET)
 

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