BUSINESS
Indian cryptocurrency players in huddle as government mulls ban
Among the bills lined up for consideration during the Budget Session of Parliament is the 'Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' that will create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India.
Oil India Limited widens its exploration network in Northeast
OIL, India's second largest national 'Navratna' company after ONGC, in terms of total proved plus probable oil and natural gas reserves, has kickstarted its exploration and production operations by launching its first ever seismic survey in southern Tripura bordering Bangladesh.
Indian 'darzi' goes digital as people love customised apparel
Although the sales of readymade/branded apparel have gone through the roof across the big online platforms, it is the local designer boutiques and entrepreneurs who are bringing tailor-made, customised high-end clothes at your doorstep at a cheaper rate, at times even 50 per cent less from what you will otherwise pay at any fashion street.
ICICI Bank's Q3FY21 net profit rises 19%
Accordingly, the company's profit after tax grew to Rs 4,940 crore during the quarter under review from Rs 4,146 crore in the quarter ended December 31, 2019. According to the lender, its net interest income (NII) increased by 16 per cent year-on-year to Rs 9,912 crore in Q3-2021 from Rs 8,545 crore in the corresponding quarter of previous quarter.
Govt may review export duty on iron ore
In the wake of a pick up in global steel demand, and Indian iron ore getting exported to countries such as China, the domestic ore prices have also shot up, almost doubling to over Rs 4,000 per tonne from levels of Rs 2,000 per tonne between June to December, 2020.
Covid bonds on the cards for long-term debt mobilisation
Though the budget may be used to announce its launch, the bond issue may be made only in the next financial year as government has almost completed it borrowing calendar for FY21 with finance ministry officials indicating no need to scale up already high levels of borrowings this year.
Myntra likely to change logo after complaint calling it 'offensive'
The complaint was filed by activist Naaz Patel of the Avesta Foundation in December 2020 as Patel found it to be insulting and offensive towards women. Along with taking the matter in various forums and social media, Patel alleged that the logo resembles a naked woman and demanded the removal of the logo by Myntra and asked for appropriate action against the firm.
BSE becomes first Exchange to execute deliveries of Gold mini contracts
Even though the BSE had launched India's first 'options in goods' contracts on gold mini and silver kg based on spot prices in June 2020, these contracts were delivered using serial-numbered gold bars approved by the London Bullion Market Association (LBMA). The Gold mini 'options in goods' contracts delivered on Saturday were delivered based on BSE-BIS India Good Delivery Standards in alignment with "Make in India" and "Atmanirbhar Bharat" initiatives.
Major economic legislations to be considered during Budget Session
Among the bills lined up for consideration during the Budget session of Parliament include legislation's covering delicensing of country's electricity distribution sector, amendments to Competition Commission of India and PFRDA legislations, creation of new development financial institution, ban on private cryptocurrencies.
India's eight core industries' production down 1.3% in Dec
On a sequential basis, the output of eight major industries had contracted by 1.4 per cent in November. ECI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). These industries comprise coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
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