NHAI debt reaches new high of Rs 3.2 trillion; toll revenue dips 4%
The National Highways Authority of India (NHAI) continues to accumulate debt at a fast clip. The highway agency’s debt reached a new high of Rs 3.17 trillion at the end of FY21, up 27 per cent from Rs 2.49 trillion at the end of March 2020. In comparison, the highway toll revenues are estimated to have declined by 4 per cent last financial year to around Rs 26,000 crore, according to an analysis by ICRA Ratings. Read more.
Sebi announces new rules to make bourses pay for technical glitches
The Securities and Exchange Board of India (Sebi) on Monday issued a detailed framework for penalising market infrastructure institutions (MIIs), which include stock exchanges, clearing corporations, and depositories, for technical glitches. “MIIs are systemically important institutions as they provide infrastructure necessary for the smooth and uninterrupted functioning of the securities market….For any downtime or unavailability of services, beyond such predefined time, there is a need to ensure that a ‘financial disincentive’ is paid by MIIs as well as their managing directors (MDs) and chief technology officers (CTOs),” the market regulator said in a circular. Read more.