SEBI seeks explanation from rating agencies, Icra Ratings and Care Ratings, for their inaction following RBI s curbs on IIFL Finance and JM Finance Product. The Reserve Bank of India (RBI) banned IIFL Finance from giving new gold loans on March 4 due to lapses in the lending process, and on March 5, it banned JM Financial Product from undertaking any form of business in shares and bond funding. Curbs on the two high-margin revenue streams are expected to impact the profitability of both companies.
Norway s $1 4 Trillion Wealth Fund Wants ESG Ratings Overhauled
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looks. all day long the dow headed south until it finally closed down an ugly 266 points. on wall street, 4:00 couldn t come fast enough. we ve had eight straight days of losses, the first time that happened since the global financial meltdown? 2008. it is a scary picture, and we re going to walk you through it all in just a moment. but first a look at the other stories we re drilling down on tonight. it s ramadan in syria. instead of peace, more bloodshed. graphic new images of bodies dumb it ped like garbage as the death toll rises. can the world look the other way? and japan s endless disaster. radiation levels at their highest since the earthquake and tsunami in march. you won t believe what they re testing now. then with grim news on wall street, everybody is talking about transparency. but these folks did something about it, striptease for social protest. the bears rule in more ways than one. now back to the batd news on wall street. we finally get a debt deal
edge this country s. five days after the massacre, we know there are undercover armed policemen on patrol. we also know that breivek amassed six tons of fertilizer, according to his manifesto. the police are suggesting to us that there is a certain amount of that fertilizer which is not accounted for in the explosives found on the island or the bomb here in oslo. they say it is possible that that missing amount of fertilizer could be enough to produce a bomb. so definitely a very, very significant part of their investigation. now, breivek s lawyer yesterday gave some insight into his client s mental state saying this whole case does suggest that he is insane, that breivek himself was surprised that he was able to get away with as much as he did on the island, that police hadn t stopped him any earlier, and he was taking some sort of drug before his attack to sort of keep him steady during that horrific massacre. and as you can see behind me, as lowans, norwegians continue to
it turned out that, no, this wasn t so safe. the rating firms had been way overoptimistic. reporter: some analysts at the rating agencies knew it. let s hope we re all wealthy and retired by the time this house of cards fallters, e-mail one analyst. based on aaa ratings ohio s pension funds bought 263 of the mortgage securities. when the housing bubble popped, the investment plummeted. s&p and moody s and fitch cut their ratings from supersafe to junk, but it was too late. ohio s pension plan lost $456 million. our investors and retirees were certainly victims of what the rating agencies did here. it s very upsetting for our investors and retirees. many know the systems have been hurt, they worry about getting their checks every day. reporter: ohio is not alone. connecticut and california also lost millions and they along with ohio are suing the rating
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