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5 Must-reads from Business: FMCG delivers mixed performance this quarter, investors pull out Rs 60000 crore of mutual fund in June

Wednesday, 30 July 2014 - 2:32pm IST | Place: Mumbai | Agency: dna webdesk

5 top stories from Zee Biz, the Business news channel of Zee Group
  • zee-biz

1) Challenges persist but green shoots visible in FMCG sector!
Major fast moving consumer goods (FMCG) companies have somehow managed to beat the slowdown blues during the first quarter of current fiscal (Q1FY15). However, it can be termed as a ‘mixed bag performance’ on volume growth front.

2) India's food stockpiling and WTO stand-off
India threatened to block a worldwide reform of custom rules last week, saying it wants an agreement on food subsidies and stockholding to run parallel to the trade facilitation pact. With grain silos spilling over, exports on the rise and an avowed market champion for prime minister, New Delhi`s threat to trash the trade deal in the name of food security and farm subsidies appears puzzling.

3) RBI suggests Sebi action against 'wilful' defaulters
Tightening the regulatory noose around wilful defaulters of bank loans, RBI has suggested to watchdog Sebi that such entities should be prevented from raising funds through capital markets.To facilitate such restrictions on entities found to have 'wilfully' defaulted on bank loans, the Reserve Bank is exploring ways to share details of these defaulters with Sebi on a real time basis, sources said.

4) Investors pull out Rs 60,000 cr from MF schemes in June
Investors pulled out nearly Rs 60,000 crore from various mutual fund schemes in June after putting in a staggering Rs 1.5 lakh crore in the preceding two months. As per the latest data available with the Securities and Exchange Board of India, there was a net outflow of Rs 59,726 crore in June as against a net inflow of Rs 1,46,094 crore in the previous two months.

5) State Bank of Patiala ready to merge
One of the five associate banks of the country`s top lender, the State Bank of India (SBI), is set to merge with the parent this fiscal. State Bank of Patiala is the most likely suitor, a top banker has said."We have no issue with a merger. We are ready for it," said managing director of State Bank of Patiala S.A. Ramesh Rangan. "One of these five associates will be merged with the SBI this financial year," Rangan told IANS in an interview.

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