The Reserve Bank of India (RBI) is monitoring the recently announced tie-up between Google Pay and Equitas Small Finance Bank. The central bank is considering the implications and subsequent effects of large tech companies entering the financial technologies sector in India, reported Business Standard. Continue reading
Bitcoin, the world’s largest cryptocurrency, has climbed a three-and-a-half-month high to trade above $50,000 in what seems to be a broader revival from the rout in May. The Reserve Bank of India (RBI) is monitoring the recently announced tie-up between Google Pay and Equitas Small Finance Bank.Indian equity benchmarks surged to record highs for yet another day on Monday with the Nifty50 index crossing the 17,350 mark. For all these stories and everything in between, here are some top news of the day.
FDI, FPI flows are strong for the first time, says Citi South Asia
Bond prices and the rupee have been rallying for the past 3 weeks and since the Jackson Hole speech, bond yields have fallen by 10 basis points to 6.15 percent. The rupee is the best-performing currency from August 1 to September 4, compared to many Asian emerging market currencies. “If you look at the currency, the flows in India have been quite strong across FDI, FPI, both debt and equity for the first time. But in general, we have seen reasonably consistent strong flows, the amount of money coming into the private equity spaces and private deals are also quite strong. The FDI flows are strong so overall," Badrinivas NC, Head-Markets & Securities Services of Citi South Asia told CNBC-TV18. Catch the entire interview here.
SC slams govt for delayed appointments to tribunals
The Supreme Court (SC) on Monday slammed the government for delayed appointments to tribunals. The Chief Justice of India (CJI) observed that the government is testing the court's patience. CJI said that he is "very upset" and questioned if the government does not want tribunals. Continue reading
RBI carefully monitoring Reserve Bank of India, says report
Sensex, Nifty score another life-time high
Indian equity benchmarks surged to record highs for yet another day on Monday with the Nifty50 index crossing the 17,350 mark, led by IT and consumer durable shares. Gains in heavyweight Reliance Industries shares continued to support the market. The Sensex index rose 167 points to end at 58,296.91. The broader Nifty50 benchmark climbed 54 points to 17,377.80 -- a second straight day of record closing highs. During the session, Sensex and Nifty clocked all-time highs of 58,515.85 and 17,429.55 respectively. Continue reading
Bull run reminiscent of one seen in early 2000s, says Raamdeo Agrawal
The current bull run in the market is reminiscent of one seen in the early 2000s, according to Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services. "Between 2003 and 2008, when the bull market happened out of complete despondency in 2002-2003, post 9/11, the feeling was the same," Agrawal, who remains bullish on the market from a medium-term perspective, told CNBC-TV18. Catch the interview here.
Bitcoin holds above $51,000 as El Salvador moves closer to accepting it as legal currency
Bitcoin, the world’s largest cryptocurrency, has climbed a three-and-a-half-month high to trade above $50,000 in what seems to be a broader revival from the rout in May. Ether, the number two coin, also supported the rally and hit $4,000 for the first time since May. Here's what's going on in the market.
Scrub Typhus: Mystery fever claims 51 lives in Uttar Pradesh. Here's what we know so far
A mysterious fever in Uttar Pradesh has claimed the lives of 51 people, including 40 children, according to government data. The infected patients are suffering from high fever, cold, chest congestion and a drop in platelet count. Read details
Railways' new 3AC economy fare to be 8% cheaper; coach capacity increased
The fare structure of new coach is 8 percent lesser than a normal 3AC Coach. According to the Railways, the new AC economy coach has 83 berths as compared to 72 berths in a normal 3AC coach. Continue Reading
How to check if a COVID-19 vaccine is original? Centre issues guidelines
The Central government has shared a list of parameters with states and union territories to identify authentic versions of Covishield, Covaxin, and Sputnik. Check out the details
Afghanistan crisis: Taliban claims Panjshir Valley captured, what we know so far
Afghanistan's last pocket of resistance — the Panjshir Valley — has reportedly fallen to the Taliban as the resistance force suffered massive losses fighting with the militant group. Continue Reading
UK to increase eggs, sperm, embryo freeze limit from 10 to 55 years
People across the UK will have more choice over when to start a family with plans to increase the storage limits for eggs, sperm and embryos, the UK government announced on Monday. Continue Reading
YOU & ME
Explained: Govt notifies new EPF rules; here's how taxable interest will be calculated on contributions
CBDT has recently notified new rules regarding the taxation of the interest on the excess Employee Provident Fund (EPF) contributions. Per new rules, organisations have to maintain two separate accounts, one for taxable contributions and another for non-taxable contributions from FY 2021-22 onwards. Explore other changes.
Motor insurance policy: Check types, nature of coverage and benefits
A motor insurance policy protects the vehicle owner against the covered financial losses due to damage/theft of the insured vehicle as per applicable terms and conditions. Continue Reading
Also Read | As Reliance Industries pushes the market higher; should you buy the stock?