BUSINESS
Profit booking subdues equities, banking stocks down
Both indices - S&P BSE Sensex and NSE Nifty50 - opened higher, but started to fall soon thereafter. After an intra-day bottom, a small recovery was seen. In Asia, stock markets followed Wall Street trends and closed on a high note as inflation fears eased and investors regained an appetite for risk.
RBI Governor meets private bank CEOs, seeks implementation of liquidity measures
Das met met the MD & CEOs of select Private Sector Banks through video conference in a meeting that was also attended by Deputy Governors M. K. Jain, M. Rajeshwar Rao, Michael D. Patra and T. Rabi Sankar. In his opening remarks, the Governor recognised the crucial role played by the private sector banks as important stakeholders in the Indian banking sector.
Fintech startup Sentieo raises $20M to drive digital transformation
With this latest funding, the US and Delhi-based Sentieo has now secured $62 million in total capital.
Currently, Sentieo employs 175 people, with more than 120 at its office in New Delhi. "With the incredible adoption of the Sentieo platform it is clear we are experiencing a massive shift in how financial and corporate research is executed," said David Lichtblau, CEO of Sentieo.
FarEye raises $100 mn in series-E funding
Existing investors -- Eight Roads Ventures, Fundamentum and Honeywell -- also participated in the round. The funds will be used to accelerate the company's mission of empowering brands to provide Amazon Prime-like delivery experiences and redefining how products are delivered across diverse logistics networks, said a company statement.
Covid-19 has sparked innovation across consumer industries: Accenture Research
After a year of lockdowns, 98% of survey respondents in India said they made at least one change to their lifestyle that they expect will be permanent. Working from home, changing travel patterns, and a growing desire to shop locally are challenging industries to fundamentally rethink how they cater to the pandemic-adapted consumer.
Elon Musk to help crypto miners form Bitcoin Mining Council
Musk earlier announced not to use the popular cryptocurrency Bitcoin as a payment mode to buy its electric vehicles, citing environmental harm. He said last week that the electric car maker will not sell any bitcoin and intends to use bitcoin for transactions as soon as mining moves to more sustainable energy.
Amazon India rolls out Rs 30.6K Covid allowance for each affected worker
If employees exceed their maximum insurance cover due to Covid-19 related hospitalisation expenses, Amazon India said it will also additionally reimburse insurance-approved hospital expenses up to Rs 1,90,000. The scheme offers frontline teams and eligible employees with added layers of financial protection, the company said in a statement.
JSPL puts off sale of power subsidiary to promoter group on investor concerns
"However, a few investors have requested the company to examine and simplify certain terms around the proposed sale, before requiring them to consider the resolutions in relation to the proposed sale. In view of the above and given the unprecedented situation of Covid-19, the company would require additional time to engage with the concerned parties for evaluating the same," JSPL said in a regulatory filing last week.
Lower inflation target to hurt growth, but will bring financial stability: RBI study
"The policy makers may choose to set the inflation target below the threshold level, but only by consciously sacrificing long-term real growth of GDP and hence the adverse impact on the rate of poverty alleviation," said the study titled 'Threshold Level of Inflation - Concept and Measurement'
India attracts highest-ever FDI inflow in pandemic year FY21
The country attracted total FDI inflow of $81.72 billion in FY21, 10 per cent higher as compared to the last financial year 2019-20 at $74.39 billion, it said. Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country, the Commerce Ministry statement said.
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