In the news: Sebi clears 17 IPOs, TCS CEO salary rises 14% and more

Though there is not a single business news story which can be termed less important, here are five developments that you must know today.

• Sebi clears 3 IPOs; total approvals reach 17 this year  Market regulator Sebi has in the past one week approved Initial Public Offerings (IPOs) of three companies that have plan to raise at least Rs 1,000 crore for business expansion and meeting working capital requirements.
• RBI announces new measures on debt restructuring by lenders The measures are a part of a set of guidelines announced by the RBI on Monday on the SDR scheme, which provide a more flexible process for lenders to recover bad loans.
• Weak monsoon to be credit negative for India: Moody's  A weak monsoon is likely to be credit negative for India as it is expected to push up food inflation as well as government deficits, global rating agency Moody's said on Monday.
• Apple expected to focus on watch, music at developer conference Apple expected to unveil a new music service and better tools to build apps for its smartwatch at its annual gathering of developers in San Francisco on Monday.
• TCS CEO N Chandrasekaran's salary rises 14% in FY15  Tata Consultancy Services CEO and Managing Director N Chandrasekaran saw his salary package rise by about 14 per cent to Rs 21.28 crore in 2014-15, making him one of the highest paid executives in the Indian IT services industry.