24th September 2K20
Ø RBI has no info on loans of top 100 defaulters
Ø Tatas, L&T bid for bullet train project
Ø CCI checking all aspects of RIL's Future deal
Ø CPI the anchor for monetary policy: RBI
Ø India's growth not foreordained: Warburg
Ø Temasek to expand its investments in India
Ø India tops up reserves with cheaper crude
Ø Domestic crude oil production down 6.3% in August, natural gas output dropps 9.5%
Ø Coal India finalises Rs 5900-cr heavy machinery contracts to bolster production
Ø CAG recommends automation of foreign trade promotion schemes adminsitration
Ø Govt proposes extending suspension of new bankruptcy filings: Report
Ø Sebi rationalises eligibility criteria, disclosure norms for rights issue
Ø Citigroup to set aside over $1 billion to combat racial wealth gap
Ø Tech Mahindra sells stake in Altiostar to Rakuten Mobile for $45 mn
Ø Japan's Mitsui, Nippon Soda acquire 56% stake in Bharat Insecticide
Ø Despite RIL deal, banks in no mood to fund Future Group
Ø CAG raps Centre over non-utilisation of cesses, levies for specified purposes
Ø ‘High valuation will be a major hurdle in SP Group’s bid to sell stake in Tata Sons’
Ø Manali Petro to set up ₹150-cr propylene glycol unit
Ø Likhitha Infrastructure sets IPO price band at ₹117-120; issue to open on Sep 29
Ø CCI approves 100% equity buy of Medlife by API Holdings
Ø CAMS, Chemcon IPO close with high subscription numbers amid choppy markets
Ø Tata Sons picks up Tata Chemicals, Tata Motors DVR shares in block deals
Ø i3 Systems, InsurTech startup raise $1.5 million funding from Unitus Ventures
Ø HDFC to raise up to ₹5,000 crore by issuing bonds
Ø BSE to launch auto cancellation feature to prevent trade reversals
Ø Sebi gives more time to MFs' trustees to appoint dedicated officer
Ø Bharti Airtel picks up stake in Waybeo as telecom firm looks to scale up cloud offerings
Ø Economic contraction may lead to permanent income loss in India; GDP may shrink 5.9% in 2020: UN body
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⚫The economy can be revived only by boosting consumer sentiments, which are weak and need measures like discount vouchers from the Govt to spur the spending, FICCI President said.The Govt needs to literally pump up the economy with some more spending at a time when around 20 million jobs have been lost and there is a fear of uncertainty amid the pandemic.
⚫FDI equity inflows into India contracted by 60% to $6.56 billion during April-June 2020.
⚫India is in the process of finalising the proposed free trade agreement with Mauritius which is aimed at further strengthening economic ties between the countries.
⚫The CAG hit out at the Railways, saying it resorting to "window dressing" to present its operating ratio in "a better light" during 2018-19 by including advance freight payments in its calculations.It also raised concerns over delays in projects over the past five years due to inefficiency of zones and weak monitoring by the Railway Board.
⚫Non-life insurers have witnessed 3.6% growth in premiums in the first five months of FY21, a signal that the Q2 will be better for the industry than Q1. Growth was driven by fire, engineering, health, aviation, and liability segments.
⚫India recorded 89,688 coronavirus cases, taking its total caseload to 5,730,184.
⚫PM chaired a high level virtual meeting with chief ministers and health ministers. During the meeting he announced that states can spend 50% of the state disaster relief fund amount on efforts to check the spread of Covid-19. PM asked states to reassess if lockdowns of one or two days are effective in containing Covid-19 and told them to press on with full strength in opening economic activities while fighting the virus.
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