Bitcoin, the world’s largest cryptocurrency, has hit a three and a half month high and is trading above $ 50,000, which appears to be a broader pickup after the May defeat. The Reserve Bank of India (RBI) is monitoring the recently announced connection between Google Pay and Equitas Small Finance Bank. Indian stock benchmarks climbed to record highs for another day on Monday, with the Nifty50 index surpassing the 17,350 mark. For all of these stories and everything in between, here’s some top news of the day.
FDI and FPI flows are strong for the first time, says Citi South Asia
Bond prices and the rupee have rallied over the past 3 weeks and since the Jackson Hole speech, bond yields have fallen 10 basis points to 6.15 percent. The rupee is the best performing currency from August 1st to September 4th compared to many emerging Asian currencies. “If you look at the currency, for the first time in India, flows have been pretty strong in FDI, FPI, both debt and equity. But in general we have seen fairly consistent strong inflows, the amount of money flowing into private equity and private deals is also pretty strong. So overall, the FDI flows are strong, ”Badrinivas NC, Citi South Asia’s Head-Markets & Securities Services told CNBC-TV18. Watch the entire interview here.
SC criticizes government for late court appointments
The Supreme Court (SC) sentenced the government on Monday for late court appointments. The Chief Justice of India (CJI) noted that the government was testing the court’s patience. CJI said he was “very upset” and asked if the government did not want tribunals. Continue reading
RBI is carefully monitoring the Reserve Bank of India, the report said
The Reserve Bank of India (RBI) is monitoring the recently announced connection between Google Pay and Equitas Small Finance Bank. The central bank is considering the impact and subsequent impact of large tech companies entering the financial technology sector in India, Business Standard reported. Continue reading
Sensex, Nifty achieve another life high
Indian stock benchmarks climbed to record highs for another day on Monday, with the Nifty50 index topping the 17,350 mark, led by IT and consumer staples. Increases in the heavyweight stocks of Reliance Industries continued to support the market. The Sensex index rose 167 points to end at 58,296.91. The broader Nifty50 benchmark climbed 54 points to 17,377.80 – a second day in a row with record highs. During the session, Sensex and Nifty hit all-time highs of 58,515.85 and 17,429.55, respectively. Continue reading
The bull run is reminiscent of an early 2000s, says Raamdeo Agrawal
The current bull run in the market is reminiscent of an early 2000s, according to Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services. “Between 2003 and 2008, when the bull market emerged from total desperation in 2002-2003, after 9/11, the feeling was the same,” Agrawal, who remains optimistic about the market over the medium term, told CNBC TV18. See the interview here.
Bitcoin holds over $ 51,000 as El Salvador gets closer to accepting it as legal currency
Bitcoin, the world’s largest cryptocurrency, has hit a three and a half month high and is trading above $ 50,000, which appears to be a broader pickup after the May defeat. Number two coin, Ether, also supported the rally, hitting $ 4,000 for the first time since May. Here’s what’s going on in the market.
Peeling typhus: In Uttar Pradesh, a mystery fever kills 51 people. We know that so far
A mysterious fever in Uttar Pradesh has killed 51 people, including 40 children, according to government reports. The infected patients suffer from a high fever, cold, chest congestion and a drop in platelet counts. Read details
The new economy tariff 3AC of the railway should be 8% cheaper; Bus capacity increased
The tariff structure of a new coach is 8 percent lower than that of a normal 3AC coach. According to Deutsche Bahn, the new AC economy car has 83 beds compared to 72 beds in a normal 3AC car. Continue reading
How can you check if a COVID-19 vaccine is original? Center issues guidelines
The central government has shared a list of parameters with states and union territories to identify authentic versions of Covishield, Covaxin, and Sputnik. Look at the details
Afghanistan crisis: Taliban claim that the Panjshir Valley has been conquered, which we know so far
Afghanistan’s last zone of resistance – the Panjshir Valley – has reportedly fallen to the Taliban as the resistance forces suffered massive losses while fighting the militant group. Continue reading
Great Britain increases the freezing limit for eggs, sperm and embryos from 10 to 55 years
People across the UK will have more choices about when to start a family, with plans to increase storage limits for eggs, sperm and embryos, the UK government said on Monday. Continue reading
Explained: Government notifies new EPF rules; This is how the taxable interest on contributions is calculated
CBDT recently announced new rules for taxing the interest on the excess contributions to the Employee Provident Fund (EPF). According to the new regulations, organizations must keep two separate accounts from the 2021-22 financial year, one for taxable contributions and one for non-taxable contributions. Discover other changes.
Motor insurance: check the type and type of insurance cover and benefits
A motor vehicle insurance protects the vehicle owner in accordance with the applicable conditions from the covered financial losses due to damage / theft of the insured vehicle. Continue reading
Also read | As Reliance Industries is driving the market up; should you buy the stock?
(Edited by: Aditi Gautam, Yashi Gupta)
First published: September 6th, 2021, 7:56 p.m.