PFCs failure to adhere to the LCR requirement was a result of inclusion of ineligible assets as High-Quality Liquid Assets (HQLA), the RBI said. The LCR, requires entities to hold adequate HQLA to meet a certain number of outflows. The HQLA is primarily made up of government securities.
In the largecap space, 15 companies witnessed significant block deals worth Rs 7,711 crore, led by Jio Financial Services with 49 block counts, totalling Rs 2,505 crore. The next in line were Bharti Airtel (Rs 1,879 crore), Zomato (Rs 871 crore), HDFC Bank (Rs 784 crore) and Reliance Industries (Rs 257 crore).
Congress’s fresh salvo has been prompted by the new revelation that government companies contributed at least Rs 2,913.6 crore to the fund between 2019 and 2022
The party was responding to reports that government-run listed firms have contributed at least Rs 2,913.6 crore between 2019-20 and 2021-22 to the Fund.
Government-run firms accounted for 59.3% donations that listed entities made to a private fund run by PM Modi, as per Business Standard. The PMO had told the Delhi high court in January that PM CARES is not a “public authority”.