BUSINESS
2-year moratorium for weak sugar mills as per guidelines to restructure SDF loans
As on November 30, 2021, of the outstanding amount of default on SDF loans, which is Rs 3,068.31 crore, as much as Rs 1,249.21 crore is the principal amount while Rs 1,071.30 crore is interest and Rs 747.80 crore is additional interest due to default.
Hughes, Airtel announce JV to offer satellite broadband in India
Accordingly, the agreement, announced in May 2019, has received all statutory approvals, including the National Company Law Tribunal (NCLT) and Department of Telecom, the statement said. Commenting on the agreement, Partho Banerjee, President, and Managing Director, HCIPL, said: "Combining the proven capabilities of both Hughes and Airtel, the partnership will bring synergies to the forefront - including multi-orbit solutions - for the benefit of customers across the length and breadth of India."
India has entered an economic supercycle
The Indian relative situation also stands out among the emerging markets/Asia. Data from IMF suggests that India is likely to be the fastest growing Asian economy in 2022 in real terms, and the only Asian economy to grow in double digits in nominal terms. The growth momentum for India is partly better as India has followed a relatively open economy approach towards Covid, unlike the 'zero Covid' approach adopted by China, the report said.
Not just US, India eyes other markets for honey exports
"We are working in close collaboration with the state governments, farmers, and other stakeholders in the value chain to boost exports to other countries and regions such as the United Kingdom, European Union, and South East Asia," The Agricultural and Processed Food Products Export Development Authority (APEDA) Chairman, Dr M. Angamuthu said.
Demat accounts opening per month rose 7-fold since FY20: SEBI Chairman
He was speaking at the virtual event organised by the National Stock Exchange to celebrate the 25 years of the launch of Nifty50 index and 20 years of Derivatives Trading in India. In FY20, average new demat accounts were at 4 lakh per month, whereas they increased to 12 lakh in FY21. In FY22, till the month of November, it rose to around 29 lakh.
Equities decline in early trade on profit booking
At 9.30 a.m., Sensex traded at 59,818 points, down 0.1 per cent from its previous close of 59,855 points. It opened at 59,921 points. Similarly, Nifty traded at 17,781 points, down 0.1 per cent from the previous close of 17,805 points. It opened at 17,681 points. Among the stocks, Tech Mahindra, HCL Technologies, Avenue Supermarts, Infosys, Interglobe Aviation were some of the top losers during the early trade, exchange data showed.
More than a third of urban Indians oppose the upcoming Cryptocurrency Bill
Just as many (35 per cent) are unsure while three in ten (29 per cent) support this decision. The Bill that is yet to receive the cabinet's nod, has already swept India's digital currency market by a wave of nervousness and confusion. Currently, only a third of urban Indians claim to own a cryptocurrency (33 per cent) while the majority (67 per cent) do not.
Equities settle in green; Sensex breaches 60K level
Accordingly, Sensex and Nifty settled at 60,223 points and 17,925 points, up 0.6 per cent and 0.7 per cent, respectively, from their previous close. On Wednesday, banking, financial services, oil and gas, and realty stocks rose the most. Among the stocks, Bajaj Finserv, Bajaj Finance, Kotak Mahindra Bank, JSW Steel, Grasim rallied the most, rising 5.0 per cent, 4.4 per cent, 3.5 per cent, 3.4 per cent, 3.1 per cent, respectively, data showed.
65 lakh enrolled for Atal Pension Yojana so far in FY22
The Centre's flagship social security scheme was launched in 2015 with an objective of providing income security in old age. Over the past six-and-a-half years, 3.68 crore people have enrolled under the scheme, a Ministry of Finance statement said on Wednesday. In FY22, the Centre aims to take the enrolment to 1 crore.
Govt currency PSU mints Rs 240 crore dividend amid Covid-19
During the fiscal year 2020-21, the government mint, the Security Printing and Minting Corporation of India Ltd, produced 828.8 crore bank notes, 275.7 crore circulating coins, 6,870 metric tons of security paper, and 600.42 metric tons of security inks, a Finance Ministry statement said. On Monday, SPMCIL Chairman-cum-Managing Director Tripti P. Ghosh and Director, Finance, Ajay Agrawal gave the cheque of Rs 240.41 crore of the final dividend for FY. 2020-21 to Finance Minister Nirmala Sitharaman.
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