BUSINESS
Shaktikanta Das urges policy action to keep petro products, industrial raw material prices under check
Without directly seeking a cut in excise and VAT levies, the RBI Governor said that petroleum product prices have reached historic highs as international crude prices surged in recent months and "the high indirect taxes remain", both in the Centre and states.
RBI maintains key rates, accommodative stance
Accordingly, the Monetary Policy Committee (MPC) of the central bank voted to maintain the repo rate, or short-term lending rate, for commercial banks, at 4 per cent. Likewise, the reverse repo rate was kept unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and the 'Bank Rate' at 4.25 per cent.
HUL's Vim brand enters machine dishwash segment with Vim Matic
In hindsight to the difficulties experienced during the lockdown vis-a-vis managing chores by households, Indian dishwasher manufacturers witnessed a 250 per cent increase in demand. Based on this insight, Vim chose to extend its category expertise from hand dishwashing to machine dishwashing with this new product offering.
Share Market: Banking stocks power bull run, Nifty50 crosses 15k points mark
Amongst sectoral indices, interest rate sensitive stocks such as banking, auto and capital goods rose before the announcement of the final monetary policy review of 2020-21. Consequently, the NSE Nifty50 crosses the 15,000 points mark during the session, but receded afterwards.
'6-10 airports to be offered in next phase of privatisation'
The process that is expected to commence from FY22 will have 6-10 airports. At present, the Centre is in the process of identifying these airports which will be offered via competitive bidding to the private sector for a lease period of 50 years for the operation, management and development of these assets.
Lending Re-boot: Bad Bank expected to absorb Rs 2 lakh cr NPAs
In a conversation with IANS, he said the Budget proposal on 'Bad Bank' is really critical for the sound health of the financial sector as it would clean up the balance sheets of banks while also giving them the opportunity to raise additional capital from the market to step up lending.
Elon Musk's tweet after 'break' raises Dogecoin's value
Dogecoin surged by over 50 per cent in the past 24 hours, according to data from CoinDesk.In subsequent tweets, the Tesla and SpaceX CEO said Dogecoin is people's crypto and No highs, no lows, only Doge. Dogecoin has surged 659 per cent this year. This is not the first time Musk's tweets caused a surge in the value of some companies. His tweet about messaging platform Signal also led to a surge in the downloads of the app.
Securities market ban on Biyani won't impact Future-Reliance deal
It added that debarment, restraint, freeze imposed under this order shall not apply to the existing holding of securities of such debarred entities, in respect of which any scheme of arrangement under Section 230-232 of the Companies Act, 2013, is approved by the NCLT, requiring extinguishment of such securities or receipt of other securities in lieu of such securities.
Amazon's appeal rejected by Director Metrology
The Department of Legal Metrology noticed a violation of mandatory declaration required under rule 6(1) of the Legal Metrology (Packaged Commodities) Rules,2011 i.e. the complete address was not displayed on the digital platform of Amazon which is used for e-commerce transactions.
Banking stocks lift markets, Sensex breaches 50,55O-mark again
Accordingly, buying momentum was triggered after the market opened on a flat note due to profit booking. Amongst sectoral indices, PSU Banks, Metal, FMCG and Auto indices were the major gainers. Market Breadth also remained strongly in favour of advancing counters for fourth consecutive session.
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