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Photo: Mint
Photo: Mint

Are surging bond yields a threat to economic revival?

Govt bond yields, which serve as benchmarks for pricing debt securities, have been rising lately. Yield on India’s 10-year benchmark paper rose to a near six-month high, German Bund to an eight-month peak, and US Treasury to a near one-year top. Mint explains.

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Pro-democracy protests in Yangon. The takeover comes at a time when Delhi’s efforts to get India Inc to do business in Myanmar was just starting to pay off
Pro-democracy protests in Yangon. The takeover comes at a time when Delhi’s efforts to get India Inc to do business in Myanmar was just starting to pay off

India’s tricky options in the Myanmar muddle

  • A decades-long delicate dance with Myanmar’s military and civilian leaders has now gotten complicated for India
  • For now, the protesters and the military seem to be exercising restraint. Irrespective of which side comes on top in the street protests, stability is likely to go for a toss in the near term.

Even as the traffic recovery is underway, risks loom for the sector. (Mint)

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The government also added that the Reserve bank of India could also, in due course, authorize private sector banks to undertake government businesses. (Mint)
The government also added that the Reserve bank of India could also, in due course, authorize private sector banks to undertake government businesses. (Mint)

Govt allows private sector banks to participate in all govt businesses

  • Private banks can now be equal partners in development of the Indian economy, furthering Govt's social sector initiatives, and enhancing customer convenience, the FM said in a tweet
  • At present only state owned banks and large private sector banks are eligible to conduct government businesses

Shaktikanta Das said the RBI will not pull out liquidity prematurely and stifle growth (PTI)
Prime Minister Narendra Modi  (PTI)
Retailers said covid has accelerated the adoption of digital shopping

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Sputnik V is being commercialized globally by Russian Direct Investment Fund (REUTERS)
Sputnik V is being commercialized globally by Russian Direct Investment Fund (REUTERS)

Govt panel defers decision on emergency licensure for Dr Reddy’s Sputnik vaccine

  • They had submitted safety and interim immunogenicity data from their bridging study. The SEC asked them to submit the final data on immunogenicity, an official said
  • If an emergency licence is awarded, Sputnik V will provide India with one of the most efficacious vaccines available against covid

Photo: iStock
Reliance Retail’s new platform, JioMart plans to connect small stores to shoppers. It was rolled out last year
Reliance Retail’s new platform, JioMart plans to connect small stores to shoppers. It was rolled out last year

JioMart ropes in small retailers to expand

The platform has also expanded its offerings to sell apparel and electronics in some parts of the country. Orders for electronics are currently fulfilled through Reliance Digital

Johnson & Johnson (REUTERS)
A teacher takes a class in a Delhi school. Schools in the national capital reopened for students of classes 10 and 12 on Monday. (PTI) (HT_PRINT)
NSE was shut for more time than it was open on Wednesday. REUTERS/Francis Mascarenhas/File Photo (REUTERS)
West Bengal Chief Minister Mamata Banerjee. (ANI)
The central government will rope in 10,000 government and 20,000 private clinics for vaccination commencing from 1 March (PTI)
Private investment in public equity and special purpose acquisition company investors will hold 20% and 10%, respectively in the combined entity, Sumant Sinha, ReNew Power chairman and managing director said.
Private investment in public equity and special purpose acquisition company investors will hold 20% and 10%, respectively in the combined entity, Sumant Sinha, ReNew Power chairman and managing director said.

ReNew Power to merge with RMG for US listing

  • Deal puts an enterprise value of around $8 bn on ReNew, and may close by Q2 of 2021
  • ReNew Power deal comes against the backdrop of Indian energy cos eyeing the SPAC route

Speculators are also getting in on the action, increasing bets in the options market that oil will reach the vaunted level by December 2022. (REUTERS)
Speculators are also getting in on the action, increasing bets in the options market that oil will reach the vaunted level by December 2022. (REUTERS)

Oil prices to rise to $100? Rumblings are starting to emerge

  • Option bets on oil prices rising above $100 for the December 2022 Brent contract have jumped in recent days, with open interest on the calls rising from 500 to 3,950 in the past week

Vijayawada: A worker sprays disinfectant on a platform before the departure of Golconda Express train from Vijayawada Railway Station, as Indian Railways resumes operations of 200 passenger trains, in Vijayawada, June 1, 2020. (PTI Photo)�(PTI01-06-2020_000056A) (PTI)
Vijayawada: A worker sprays disinfectant on a platform before the departure of Golconda Express train from Vijayawada Railway Station, as Indian Railways resumes operations of 200 passenger trains, in Vijayawada, June 1, 2020. (PTI Photo)�(PTI01-06-2020_000056A) (PTI)

Indian Railways clarifies on higher fares being charged for short travel

  • Indian Railways said that a total 1250 Mail/Express, 5350 suburban services & more than 326 passenger trains are presently in operation average on a daily basis.

The scheme proposes incentive to boost domestic manufacturing and attract large investments in the value chain of IT hardware.
The scheme proposes incentive to boost domestic manufacturing and attract large investments in the value chain of IT hardware.

Cabinet approves PLI scheme for laptop, tablets

  • In November, the government said it will offer incentives worth 1.46 trillion to 10 sectors, including for manufacture of automobiles and solar panels, after the success of the scheme for production of mobile phones launched in April

It will help broking clients of Karvy to continue access to the securities market. (Pradeep Gaur )
In a bid to clean up election funding, the government had in January introduced electoral bonds that can be bought from specified branches of State Bank of India and used to donate money to political parties. Photo: iStockphoto
In a bid to clean up election funding, the government had in January introduced electoral bonds that can be bought from specified branches of State Bank of India and used to donate money to political parties. Photo: iStockphoto

Indian corporate bond market can double to 65-70 lakh cr by March 2025: Crisil

The supply of corporate bonds in the domestic market is expected to double to 65-70 lakh crore by fiscal 2025 with the financial sector contributing around 50% to this growth, rating agency Crisil said

Prime Minister Narendra Modi (PTI)
BMC officials penalise a commuter for not wearing masks, amid a rise in coronavirus cases across Maharashtra. (PTI)
Mumbai: Pedestrians watch stock prices on a digital screen.  (PTI)
It will be among the biggest IPOs to hit the Indian markets this year (Mint)
It will be among the biggest IPOs to hit the Indian markets this year (Mint)

Blackstone backed Sona Compstar files for IPO of 6,000 cr

  • The IPO comprises a fund raise via fresh issue amounting to 300 crore and an offer for sale aggregating up to 5,700 crore by Singapore VII Topco III Pte Ltd
  • Sona Comstar will use the proceeds from the fresh issue to repay 225 crore of its borrowings besides general corporate purposes

French tech major Capgemini employs 125,000 people in India. (Photo: Mint)
COVID-19 vaccine (HT_PRINT)
Reserve Bank of India (RBI) Governor Shaktikanta Das. (PTI)
Puducherry Chief Minister V Narayanasamy hands over his resignation letter to Lt Governor Dr Tamilisai Soundararajan after he failed to prove his majority in the assembly in Puducherry. (PTI)
Puducherry Chief Minister V Narayanasamy hands over his resignation letter to Lt Governor Dr Tamilisai Soundararajan after he failed to prove his majority in the assembly in Puducherry. (PTI)

Cabinet approves President's rule in Puducherry amid political turmoil

  • The cabinet decision came after Lieutenant Governor Tamilisai Soundararajan recommended the same
  • Chief Minister V Narayansamy-led Congress govt lost the floor test held in Puducherry Assembly earlier this week

Under the existing mechanism, 30% of the last salary minus the dearness allowance is given as disability pension to those sustaining 100% disability. Photo: Mint
The new Swift is equipped with the next generation of K-Series Dual Jet Dual VVT engine with Idle Start Stop (ISS) technology
The new Swift is equipped with the next generation of K-Series Dual Jet Dual VVT engine with Idle Start Stop (ISS) technology

Maruti Suzuki launches Swift 2021 in India at 5.73 lakh: Details here

  • The new Swift comes with features like cruise control, idle start and stop and key synchronized auto foldable ORVMs
  • On the interior, the new Swift comes with a twin-pod meter cluster and a new 10.67cm multi-information coloured TFT display

Delhi will make it mandatory for those arriving from these states. (PTI)
A Venezuelan health worker prepares a syringe with Russia's Sputnik V vaccine against the coronavirus disease (COVID-19), at a hospital, in Caracas, Venezuela February 22, 2021. REUTERS/Leonardo Fernandez Viloria NO RESALES. NO ARCHIVES (REUTERS)
A Venezuelan health worker prepares a syringe with Russia's Sputnik V vaccine against the coronavirus disease (COVID-19), at a hospital, in Caracas, Venezuela February 22, 2021. REUTERS/Leonardo Fernandez Viloria NO RESALES. NO ARCHIVES (REUTERS)

Sputnik V Covid vaccine in India: Submit immunogenicity data, SEC tells Dr Reddy

  • The Indian drug regulator's Subject Expert Committee met today afternoon to discuss Dr Reddy's application seeking emergency use approval for SputnikV, a Russian vaccine

Of the 16 high-frequency indicators considered in the macro tracker, six were in the green in January, or above their five-year-average growth trend. (Photo: Mint)
Of the 16 high-frequency indicators considered in the macro tracker, six were in the green in January, or above their five-year-average growth trend. (Photo: Mint)

Economy sustains gradual uptick as vaccine drive brings hope

  • Mint’s macro tracker has had its best covid-era showing in the last two months, with only six of the 16 high-frequency indicators falling in the red zone

RBI Governor Shaktikanta Das (Photo: Reuters)
RBI Governor Shaktikanta Das (Photo: Reuters)

Bidders for PSBs should have deep pockets: RBI

While the govt has the final say in deciding the buyers, from the regulator’s perspective, the bidders should meet RBI’s fit and proper criteria and have enough financial strength to capitalize the banks significantly, Governor Shaktikanta Das said

The new Alcazar is expected to be based on the design of the Creta (MINT_PRINT)
**EDS: SCREENSHOT FROM OFFICIAL YOUTUBE CHANNEL OF RBI** Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das announces the policy decision of the Monetary Policy Committee (MPC), via live streaming, in Mumbai, Friday, Feb. 5, 2021. Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent. (PTI Photo)(PTI02_05_2021_000039A) (PTI)
**EDS: SCREENSHOT FROM OFFICIAL YOUTUBE CHANNEL OF RBI** Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das announces the policy decision of the Monetary Policy Committee (MPC), via live streaming, in Mumbai, Friday, Feb. 5, 2021. Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent. (PTI Photo)(PTI02_05_2021_000039A) (PTI)

RBI to ensure orderly evolution of bond market

  • Das’s comments come at a time when the yield on the benchmark 10-year bond has been rising persistently despite RBI’s efforts to keep it at 6%. The 10-year bond yield touched 6.19% on Monday, the highest since 24 August

Shirdi Saibaba Temple in Maharashtra. (ANI)
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