BQuick On Jan. 11: Top 10 Stories In Under 5 Minutes
Here’s a roundup of the day’s top stories in brief.
1. RBI Predicts A Sharp Rise In Bad Loans
Gross bad loans on bank balance sheets could rise to 13.5% by Sept. 30, the Reserve Bank of India said in its latest edition of the Financial Stability Report. That compares with 7.5% in September 2019.
2. Indian Government Orders 1.1 Crore Shots Of Covishield
The Serum Institute of India Ltd., which is manufacturing the Oxford-AstraZeneca vaccine, has said that it has received a purchase order from the Indian government. The Centre will pay Rs 210 for each shot.
3. Sensex, Nifty Scale New Highs
The S&P BSE Sensex climbed 1% to 49,269, while the NSE Nifty 50 Index also advanced 1% to 14,484. Tata Motors Ltd. was the top performer, rising 11% to Rs 220.65.
4. Vedanta’s Open Offer Spurs Bond Rally
Anil Agarwal’s Vedanta Resources Ltd. saw bonds rise after it launched an open offer for its Indian unit. The company’s 2022 dollar note rose to its highest since March.
5. Sajjid Chinoy On Budget's Balancing Act
JPMorgan’s India Chief Economist Sajjid Chinoy said the Union Budget should be focussed on balancing reducing fiscal deficit while increasing spends to support the economy.
6. Budget 2021: The Personal Tax Wishlist
Finance Minister Nirmala Sitharaman has promised a “never before” like budget on Feb. 1. Personal tax experts tell BloombergQuint what her ministry could alleviate the pain the Covid-19 pandemic has wrought.
7. India's $55-Billion Clean Coal Push
India expects to invest 4 trillion rupees ($54.5 billion) in clean coal projects over the next decade as it seeks to tap domestic energy sources and curb imports, Home Minister Amit Shah said.
8. Work From Home 2.0
The combination of work from home and no vacations has prompted more Indians to consider buying homes in holiday destinations. Real estate is cheaper outside big cities. And work from home offers an opportunity to spend quality time in places such as Goa and Lonavla to Shimla. Full the story.
9. Supreme Court To Consider Putting Farm Laws Implementation On Hold
The top court has said it can consider putting on hold the three contentious agriculture laws that have ignited protests by farmer groups over the last few months. The court will pass a formal order tomorrow.
10. India’s Bird Flu Scare Spreads To More States
Nine Indian states have confirmed avian influenza outbreaks among poultry and wild birds. Maharashtra, Delhi, Haryana, Gujarat are the latest to join Kerala, Rajasthan, Madhya Pradesh, Himachal Pradesh and Uttar Pradesh.