BQuick On Jan. 14: Top 10 Stories In Under 5 Minutes
Here’s a roundup of the day’s top stories in brief.
1. RBI Looks To Calm Nerves, Says Easy Money Will Continue
India’s central bank has assured bond market investors that its plans to drain excess liquidity from the system will not result in a change in its accommodative policy stance, Bloomberg News reported citing people with knowledge of the matter.
2. SREI Debenture Holders Left In The Lurch
Many investors who hold part of the Rs 4,171 crore outstanding non-convertible debentures of SREI Infrastructure Finance Ltd. have been left in the lurch after the company managed to get a stay on interest payments.
3. Sensex So Near, Yet So Far
Indian equities ended little changed for the second straight day. The S&P BSE Sensex ended around 400 points short of the 50,000 mark.
4. Two IPOs Set To Open Next Week
Indigo Paints Ltd. has said that it will sell shares at Rs 1,488-1,490 apiece in its three-day initial public offering that opens Jan. 20. The IPO includes sale of shares worth Rs 870 crore and a fresh issue worth Rs 300 crore.
5. Google India Removes Errant Personal Loan Apps From Play Store
The search giant reviewed numerous personal loan applications on the India Play Store and removed ones that did not meet guidelines after being flagged by users and government agencies. Some of these unscrupulous apps were offering short-term loans at exorbitant rates.
6. Fitch Sees Slower India Growth After A Short Spurt
Fitch Ratings has said that after an initial strong growth rebound in FY22, the Indian economy will slow to around 6.5% a year till FY26. Factors such as the weak state of the financial sector will keep the level of GDP well below its pre-pandemic path.
7. Six Words Vinayak Chatterjee Wants To Hear In The Budget Speech
“We are setting up a development finance institution”. Those are words that Vinayak Chatterjee, chairman of Feedback Infrastructure, hopes will find a prominent place in Budget 2021.
8. How Ready Is Mumbai For The Vaccine?
The city of Mumbai is building facilities to store 1 crore doses of the Covid-19 vaccine as it will look to vaccinate 50,000 people daily. These are five questions to keep in mind as India’s financial hub, once a hotspot, readies for the inoculation drive.
9. UBS Fund Eyes $400 Million Paytm Stake
UBS Group AG is in talks to invest $400 million in Paytm, the most valuable Indian startup, Bloomberg News reported citing people with knowledge of the matter.
10. Uday Shankar, James Murdoch Join Hands
James Murdoch’s investment firm Lupa Systems LLC is tying up with Uday Shankar, former chief of Star India and president of Walt Disney Asia Pacific, to look for growth opportunities in emerging markets.