Top 10 Business, Markets News In Under 5 Minutes: BQuick On Feb. 12
ere Here’s a roundup of the day’s top stories in brief.
1. Inflation Eases, IIP Rises
India’s retail inflation fell to a 16-month low as vegetable prices continued to fall. The Consumer Price Index-based inflation stood at 4.06% in January compared with 4.59% in December.
Industrial production rose more than expected in December. IIP rose 1% compared with 2.1% decline in November.
2. India Post Payments Bank Runs Into Fresh Trouble
The government-owned entity was once seen as a possible game-changer for financial inclusion. Yet, four years since its enthusiastic launch, it has continued to run in troubles. Latest is a tussle between management and employees due to a shortage of funds.
3. Flat Close To Week Of Gains
Indian equities ended little changed for the third time in the last four trading sessions. The S&P BSE Sensex gained over 1.5% for the week.
4. Bonds Post Best Week Since December
The Reserve Bank of India probably bought Rs 50,000 crore ($6.9 billion) of bonds this week through announced open-market operations and discreet secondary market purchases, according to estimates by Emkay Global Financial Services Ltd.
5. Oil’s Longest Rally In Two Years Fizzles
Oil slipped below $58 a barrel in New York as a recent rally fizzled on strength in the dollar.
6. Former ICICI Bank Chief Chanda Kocchar Gets Bail
A special Prevention of Money Laundering Act court granted bail to Chanda Kocchar in the ICICI Bank-Videocon case. The bail was allowed on a bond of Rs 5 lakh.
7. Insolvency Code: Important Judgment
The Supreme Court has held that a beneficiary of pledged shares will not be considered a financial creditor under the Insolvency Code. Here are the ramifications.
8. Petrol Crosses Rs 88-Mark In Delhi
Petrol price was increased by 31 paise per litre and diesel by 35 paise a litre, according to a price notification of state-owned fuel retailers.
9. Even India’s Former Chief Justice Won’t Go To Courts
Former Chief Justice of India Ranjan Gogoi said he won’t go to the courts with grievances because he would have to endlessly wait for a verdict, a comment that lays bare the clogged legal system.
10. Hydropower Projects Face Backlash
The flash flood in Uttarakhand, that killed at least 34, has reignited outrage against hydropower projects. Experts say the incident, induced by the effect of global warming on melting glaciers, was made worse by the construction of infrastructure.