The old private sector banks are closer in performance to public sector banks who suffer from several government mandates and constraints
The old private sector banks are closer in performance to public sector banks who suffer from several government mandates and constraints

LVB deal showcases new M&A battlefield

  • After RBI’s decisiveness with LVB, it should focus on India’s old private banks. Many need urgent fixing
  • The RBI should execute a grand clean-up of Indian banking system. With each passing failure, retail investors are losing trust in the banking system. This could be fatal going forward

Photo: iStockphoto
Photo: iStockphoto

The oddness of how financial markets assess sovereign risk

A rush for negative-yield bonds issued by China suggests poor judgement among global investors

OPEC is struggling to restrain output and thus support covid-hit oil prices
OPEC is struggling to restrain output and thus support covid-hit oil prices

Could Opec’s house of cards collapse over output quarrels?

The oil cartel’s unity seems threatened even by close Saudi ally UAE

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Travellers wearing protective masks register for COVID-19 tests inside Terminal B at Los Angeles International Airport (LAX) in Los Angeles, California, US (Bloomberg)
Travellers wearing protective masks register for COVID-19 tests inside Terminal B at Los Angeles International Airport (LAX) in Los Angeles, California, US (Bloomberg)

US sees highest number of air passengers since March due to Thanksgiving visits

The number of US air travellers is still nearly 60% lower than the same date last year but Sunday was the second time in three days that passengers screened topped 1 million

Road Transport Minister Nitin Gadkari speaking at 9th Edition of Auto Serve 2020
Photo: Bloomberg
Photo: iStock
Union Minister for Finance Nirmala Sitharaman addressing the National MNCs' conference 2020, organised by the Confederation of Indian Industry (CII), through video conferencing, in New Delhi on Monday (ANI)
Union Minister for Finance Nirmala Sitharaman addressing the National MNCs' conference 2020, organised by the Confederation of Indian Industry (CII), through video conferencing, in New Delhi on Monday (ANI)

Momentum of economic reforms will continue, FM Sitharaman assures industry

India has turned the crisis created by Covid-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, says FM at a CII event

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Photo: Mint
Photo: Mint
Finance Minister Nirmala Sitharaman  (PTI)
Airport staff in protective suits check passengers at Mumbai Airport. (PTI)
Airport staff in protective suits check passengers at Mumbai Airport. (PTI)

Maharashtra makes Covid-negative report a must for passengers from these states

  • For domestic air travellers, the RT-PCR sample collection should have been done within 72 hours before the scheduled time of landing at airports in Maharashtra
  • Passengers not having the RT-PCR test reports will have to compulsorily undergo RT-PCR tests at concerned airports at their own costs

Fishermen shift their boats for safety following Cyclone Nivar alert, in Mamallapuram (PTI)
FILE - It will cost the company an estimated $1.2 billion, about one third of its net income so far this year (AP)
Bahrain hosts more than 350,000 Indians and both countries have worked together to face the covid-19 pandemic (MINT_PRINT)
Airport staff in protective suits check passengers at Mumbai Airport. (PTI)
Photo: Bloomberg
Photo: Bloomberg
Photo: Bloomberg

China’s growth story contradicts global shrinkage

Ever since news of the coronavirus outbreak emerged in Wuhan, many have been sceptical of the statistics being put out by China. Speculations over China being the only major economy to grow are being taken with a pinch of salt by experts. Mint explores the issue.

File photo of Antony J Blinken (AFP)
Coal India has 352 mines, of which 158 are underground, 174 opencast and 20 mixed mines. The company also operates 12 coal washeries  (Photo: Getty Images)
Coal India has 352 mines, of which 158 are underground, 174 opencast and 20 mixed mines. The company also operates 12 coal washeries (Photo: Getty Images)

Coal India gets one-day strike notice from worker unions

  • Four trade unions of Coal India have served one-day strike notice in CIL and its subsidiaries on 26 November, the company said in a BSE filing
  • Efforts would be made to avert the strike and conciliatory process is going on, the CIL said

Punjab Police personnel walk along a platform at a railway station in Amritsar on as train services prepare to resume after farmers unions announced the suspension of blockades  (AFP)
Punjab Police personnel walk along a platform at a railway station in Amritsar on as train services prepare to resume after farmers unions announced the suspension of blockades (AFP)

Delhi-Una Janshatabdi first passenger train to Punjab in nearly 2 months

Train services were suspended in the state since 24 Sept when the farmers protesting against the new farm laws converged on railway stations and tracks

In this file photo dated Feb. 18, 2015, then Assam Chief Minister Tarun Gogoi addresses a press conference at Assam Secretariat conference hall, in Guwahati (PTI)
In this file photo dated Feb. 18, 2015, then Assam Chief Minister Tarun Gogoi addresses a press conference at Assam Secretariat conference hall, in Guwahati (PTI)

An affable leader, Tarun Gogoi left a mark as Assam's longest-serving CM

  • Gogoi provided stable governance, increased tax revenue, boosted agriculture and fostered economic growth
  • Several extremist outfits were brought to the negotiating table and the level of violence in the state has drastically come down over the years

'Many technical rationalisations proposed by RBI's Internal Working Group are worth adopting, while its main recommendation, to allow Indian corporate houses into banking, is best left on the shelf,' argued Raghuram Rajan
'Many technical rationalisations proposed by RBI's Internal Working Group are worth adopting, while its main recommendation, to allow Indian corporate houses into banking, is best left on the shelf,' argued Raghuram Rajan

Rajan says proposal to allow business houses into banking is a 'bad idea'

The former RBI governor, and Viral Acharya, a former RBI deputy governor questioned timing of the RBI panel's proposal at a time when 'India is still trying to learn the lessons from failures like IL&FS & Yes Bank'

The qualifying bidder will not only have a controlling stake in BPCL, but will also get access to 25.77% market share in India’s fuel retailing segment, along with 15.3% of India’s total refining capacity.mint (MINT_PRINT)
The qualifying bidder will not only have a controlling stake in BPCL, but will also get access to 25.77% market share in India’s fuel retailing segment, along with 15.3% of India’s total refining capacity.mint (MINT_PRINT)

Unexciting privatization news flow keeps a check on BPCL’s share price

Delays in privatization are a risk for the stock as the refining biz has limited long-term growth opportunities

While Gogoi’s entry in national politics was because of Indira Gandhi, he was a five term PM from Jorhat and Kaliabar (PTI)
While Gogoi’s entry in national politics was because of Indira Gandhi, he was a five term PM from Jorhat and Kaliabar (PTI)

Tarun Gogoi, Assam's longest serving chief minister, passes away

  • In his five-decade long career in politics, Gogoi had also worked closely with PV Narasimha Rao
  • Gogoi was admitted to the hospital on 2nd November following post recovery complications from covid-19 but was put under invasive ventilation over the weekend as his condition had worsened

Wall Street's tug of war continues between worries about the worsening pandemic in the present and optimism that a vaccine will come in the future (AP)
Wall Street's tug of war continues between worries about the worsening pandemic in the present and optimism that a vaccine will come in the future (AP)

Dow rises 250 points after latest upbeat vaccine news, rapid biz activity in Nov

  • UK's AstraZeneca said they will seek regulatory approval for their coronavirus vaccine after it showed up to 90% effectiveness
  • Data showed US business activity in November expanded at its fastest rate in more than five years

(Photo: Reuters)
Photo: Mint
AU Small Finance Bank
Prime Minister Narendra Modi  (ANI)
Oxford-AstraZeneca vaccine jab achieves efficacy of up to 90% (Illustration: AFP)
Gogoi was put under invasive ventilation on Saturday night when his condition worsened (File photo: PTI)
Gogoi was put under invasive ventilation on Saturday night when his condition worsened (File photo: PTI)

Former Assam CM and Congress leader Tarun Gogoi passes away

  • The 84-year-old politician had been suffering from post-Covid complications; Assam govt announces three-day state mourning
  • PM Modi says he's 'anguished' by Gogoi's death; Rahul Gandhi says, 'For me, he (Gogoi) was a great and wise teacher'

Sensex finished 0.44% higher at 44,077.15. (MINT_PRINT)
Serum Institute chief executive officer Adar Poonawalla (Mint)
Serum Institute chief executive officer Adar Poonawalla (Mint)

Covishield is 'low-cost, logistically manageable': Serum CEO

  • 'Further details on this will be provided this evening,' says Adar Poonawalla on Twitter
  • The vaccine developed by Oxford University was 90% effective in preventing Covid-19 when it was administered as a half dose followed by a full dose at least one month apart

A concept image of ‘Akatsuki’ preparing to enter orbit around Venus.jaxa/akihiro ikeshita
ANI Photo
ANI Photo

What data tells us about anti-incumbency in India

  • The 1951-1966 period saw the strongest pro-incumbency trend, with most governments getting re-elected. The 1999-2003 phase saw the strongest anti-incumbency phase, with most state governments getting voted out. In most other periods, voters have accepted and rejected ruling parties in equal measure

Almost 60 million people have returned to their work spots, or half of the internal migrants who had left the cities and trudged back to their village homes when the government announced the strict lockdown (Photo: Bloomberg)
Almost 60 million people have returned to their work spots, or half of the internal migrants who had left the cities and trudged back to their village homes when the government announced the strict lockdown (Photo: Bloomberg)

Top private employer in India sees jobs rising to pre-covid levels

  • Jobs are returning in India as the economy recovers from lockdown-related losses, according to the head of a top staffing firm
  • India’s unemployment rate eased to 6.98% in Oct from as high as 23.5% in April, according CMIE data

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