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Top News of Oct 7: Zee-Invesco saga continues, RBI monetary policy on Friday and more

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Here are the top news from the world of business, economics, national and international politics and more, handcrafted for you by the CNBC-TV18.com team.

Top News of Oct 7: Zee-Invesco saga continues, RBI monetary policy on Friday and more
The Reserve Bank of India may not raise the reverse repo rate just yet, but give ample indication it plans to do so. The National Company Law Appellate Tribunal (NCLAT) has set aside a National Company Law Tribunal (NCLT) order that has asked Zee Entertainment Enterprises to file a reply within two days to the shareholder’s requisition to hold. India continues to grapple with a power crunch, along with Europe and China. For all these stories and everything in between, here are some top news of the day
ECONOMY
A reverse repo hike may be needed, but RBI may stick to hinting one
The Reserve Bank of India may indicate normalcy is returning by suitably amending the words “continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis.” It may not raise the reverse repo rate just yet, but give ample indication it plans to do so. Read more
Affordable housing loan defaults rise post-covid to 7.2 percent: ICRA
The 30+ days past due for some Affordable Housing Finance Companies has risen to 7.2 percent as of June 30, 2021, indicating all is not as well as it looks. It is higher than the estimates of 3.2 percent as of March 31, 2021. Read more
Vehicle registrations fall 5%, two-wheelers remain spoilsport, says FADA
The total vehicle sales fell by over 5 percent in September as compared to September 2019 (a regular pre-COVID month), while overall retail sales fell by over 13 percent, auto dealers' body FADA said Thursday. Read more

MARKETS
NCLAT sets aside NCLT order asking Zee to reply in 2 days to Invesco's EGM demand
In a setback for Invesco, the National Company Law Appellate Tribunal (NCLAT) on Thursday set aside a National Company Law Tribunal (NCLT) order that has asked Zee Entertainment Enterprises Limited (ZEEL) to file a reply within two days to the shareholder’s requisition to hold an Extraordinary General Meeting (EGM). Continue Reading
Navratri Effect: Jewellery stocks surge as Titan, Kalyan kick off festive season with strong Q2 performance
Jewellery stocks were buzzing in the trade as the 42-days-long festive season began with Navratri on Thursday, October 7. Investors pinned hopes on the festive season as Titan posted a strong, across-the-board recovery in demand after the second wave of COVID-19 infections. Dig deeper
Titan becomes second Tata Group company to enter Rs 2 lakh crore mcap club
Titan Company became the second firm in the Tata group to hit the market capitalisation of Rs two lakh crore after Tata Consultancy Services (TCS), the country's largest IT services provider. Dig deeper

WORLD
US jobless claims fall to 326,000, first drop in four weeks
The number of Americans applying for unemployment benefits fell last week, another sign that the US job market and economy continue their steady recovery from last year's coronavirus recession. Continue Reading
WHO approves vaccine for malaria
The World Health Organization (WHO) said on Wednesday the only approved vaccine against malaria should be widely given to African children, potentially marking a major advance against a disease that kills hundreds of thousands of people annually. Continue Reading
Situation in South Asia extremely dangerous due to Taliban takeover of Afghanistan: Former US NSA
The withdrawal of US troops from Afghanistan resulting in the Pakistan-backed Taliban taking control of the country has created an extremely dangerous situation in South Asia, a former national security advisor has told lawmakers. Continue Reading

INDIA
Mumbai cruise drugs case: Aryan Khan, seven others remanded in judicial custody
A court in Mumbai on Thursday sent Aryan Khan, the son of Bollywood actor Shah Rukh Khan, and seven others in 14-day judicial custody in connection with the alleged seizure of banned drugs from a cruise ship off the Mumbai coast. Continue Reading
India's energy crunch: Govt to revise coal stock norms; fuel rates surge to record highs
India continues to grapple with a power crunch, along with Europe and China. Electricity production in the country declined by 0.7 percent in September, never mind the improvements in economic activity. Continue Reading
Lakhimpur Kheri violence: Who is Ajay Mishra, Union Minister in eye of storm?
The violence in Uttar Pradesh's Lakhimpur Kheri district has snowballed into a political storm. On October 3, a car belonging to Ashish Misra, son of Union Minister of State for Home, Ajay Mishra, ran over farmers who were peacefully protesting the three contentious farm laws -- killing four of them, a journalist and three others. Continue Reading

YOU & I 
Mukesh Ambani retains top spot in Forbes India Rich List 2021
Reliance Industries chief Mukesh Ambani emerged as the wealthiest Indian for the 14th straight year as his net worth swelled to $92.7 billion, as per Forbes magazine's 100 richest Indians list. Read more
Key things to consider before investing in fund of funds 
Investing in a mutual fund is somewhat similar to booking an electrician to troubleshoot and repair electrical malfunctions. Of course, many times people do it themselves, however, the only difference is that when an expert handles the problem, it not only becomes easier but also much safer. But if you are doing it yourself, you might want to read this.
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