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Biz EOD: India still wary of RCEP; Jio clears AGR dues; hope remains for YES Bank

BusinessToday.In     January 23, 2020

Union Commerce Minister Piyush Goyal, during the 50th annual World Economic Forum in Davos, Switzerland, said India was not willing to engage with Regional Comprehensive Economic Partnership (RCEP) unless there's "greater degree of transparency". Amid ongoing controversy over adjusted gross revenues (AGR), Mukesh Ambani-owned Reliance Jio has reportedly cleared its dues to Department of Telecommunications (DoT). SBI Chairman Rajnish Kumar has said that private lender YES Bank will not be allowed to fail and some "solution" will emerge to straighten its financial condition. Read for more top stories from the world of business and economy:

1. India won't engage with RCEP unless there's greater transparency: Piyush Goyal at Davos

Goyal says India backed out of the Regional Comprehensive Economic Partnership because it was an 'unbalanced trade agreement', which was not fulfilling RCEP's guiding principles.

2. Reliance Jio pays Rs 195 crore AGR dues to DoT; Voda Idea, Airtel seek more time

Reliance Jio has become the first telecom company to clear its dues within Supreme Court deadline of 23 January.

3. YES Bank will not be allowed to fail, some solution will emerge: SBI Chairman Rajnish Kumar

The private lender's shares have taken a beating in the past one year, plunging over 80 per cent, primarily after the sudden exit of promoter Rana Kapoor, asset quality deterioration, NPA divergences and lower capital levels.

4. India ranks 72 in Global Talent Competitiveness Index; Switzerland, US lead the list

India fares poorly even when compared to two BRIC nations. China ranks at No. 42 while Russia is at 48. India does better than Brazil, which ranks 80 in the index.

5. Infra drives PE-VC investments to an all-time high in 2019

Buyout activity in Indian PE/VC industry has grown from strength-to-strength as India moves towards global norms where buyouts are usually the largest deal type of PE/VC investment.

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