Govt plans to sell 25% stake in LIC in phases

• Govt is planning to seek cabinet’s approval to sell 25% stake in LIC to plug a widening budget gap
• The timing of the insurer’s initial public offering will be depend on market conditions, and the sale is likely to be done in tranches

ITC’s FMCG biz outlook promising, but investors not biting into it yet

• Lower profit margins of the FMCG segment means that on an overall basis, it doesn’t move the needle for ITC and this is a dissuading factor for investors. In FY20, FMCG Ebit margin was 3.3% compared with 67% for cigarettes business

Mukesh Ambani earned ₹90 cr every hour since lockdown, tops Hurun India list

• Mukesh Ambani’s personal wealth rose by ₹2,77,700 crore to ₹6,58,400 crore
• The Reliance Industries MD and chairman retained the richest Indian title for the ninth consecutive year

One in every 15 exposed to Covid-19 by Aug: ICMR on second sero-survey result

• The ministry says ICMR's second Sero Survey report reveals that a considerable population still vulnerable to Covid-19
• However, the recovered cases of novel coronavirus in India today crossed 51 lakh-mark, the highest in the world, said government

Jio questions pause on spectrum auction, says delay to hurt national exchequer

Spectrum auctions were held every year after the apex court order in the 2G case in 2012 and the last was held in the year 2016

India’s crackdown on NGOs, in four charts

Latest amendments to the law that regulates foreign grants to Indian NGOs continues the recent pattern of raising compliance costs

Sonalika Tractors founder at 164 on Hurun India Rich List

• The manufacturer, with a net wealth of ₹7,700 crore is ranked 164th on Hurun India Rich List
• The top spot on the list was retained by Chairman of Reliance Industries Limited Mukesh Ambani for the ninth consecutive year with ₹6,58,400 crore wealth

Hurun Rich List 2020: Ambani to Cyrus Poonawalla, top 10 billionaires in India

• Reliance Industries’s market cap crossed ₹10 lakh crore and registered a 73% increase in Mukesh Ambani’s wealth this year, according to the report
• Ambani is followed by Hinduja brothers

Cairn seeks nearly ₹10,300 crore in losses from retrospective tax demand

British oil explorer Cairn Energy Plc today said it is seeking from the Indian government $1.4 billion (about ₹10,300 crore) in losses arising from the expropriation of its investments to enforce a retrospective tax demand

Google makes Play Billings mandatory for in-app purchases from Sept 2021

Google on Tuesday said apps that choose to sell digital content through its Play Store have to use Google Play billing system and pay a percentage of the in-app purchase as fee

Serum Institute to produce additional 10 crore doses of covid vaccines

• The expanded deal will accelerate manufacturing and delivery of safe and effective coronavirus vaccines, which has been priced at a maximum of $3 per dose
• With an additional $150 mn funding, the total funding provided through this collaboration reached to $300 mn

Unlocking brings cheer for Shriram Transport investors, but some worries persist

• The company is betting on its rural reach and exposure to help it overcome the impact of the pandemic and early signs of a pick-up in tractor sales and the improvement in other commercial vehicles sales point to a faster recovery

Texas on alert after brain-eating amoeba kills 6-year-old boy

The amoeba enters the body through the nasal membranes and penetrates to the brain, causing powerful migraine, hyperthermia, stiff neck and vomiting, then dizziness, extreme fatigue, confusion and hallucinations

Happiest Minds founder Ashok Soota debuts on Hurun India Rich List

• The IPO of of his latest startup, Happiest Minds, was oversubscribed 151 times, making it among India’s most successful first-time share sales of this decade

PM Modi slams Opposition over farm law protests

• The only tactic that is left for the opposition parties is to oppose development, they are against any development that takes place, Modi said

Google Play Store removes 17 apps infected with malware: Check if you have any

• Joker is one of the most prominent malware families that continually targets Android devices
• Despite awareness of this particular malware, it keeps finding its way into Google’s official application market by employing changes in its code

Bypolls to 1 Lok Sabha seat and 56 Assembly seats on 3, 7 Nov; result on 10 Nov

The states where the elections will be held are Chhattisgarh, Gujarat, Jharkhand, Haryana, Karnataka, Madhya Pradesh, Manipur, Nagaland, Odisha, Telangana and Uttar Pradesh

Restaurant A380: Airline offers dining experience inside Airbus Superjumbo

• Diners can chose to get a dining experience inside the Airbus A380, the world’s largest passenger aircraft
• A tour of the aircraft will be available before lunch and customers will be able to watch the inflight entertainment channels during their meal

IAF chief says no war, no peace situation along India-China border in Ladakh

• Tensions between New Delhi and Beijing have been simmering since May when India first detected multiple Chinese military intrusions into Ladakh. There was also major military buildup across the border inside Chinese territory

Lithium-ion batteries may not drain demand for Exide and Amara Raja

• Lithium-ion batteries are still some way from picking up, say analysts, while demand for mobility continues to drive demand for passenger vehicles and two-wheelers

In presidential debate, a last chance for Doanld Trump to define Joe Biden

• Sometimes Donald Trump paints Joe Biden as a far-left candidate; at other times he argues that while Biden is more moderate, he would be controlled by his party’s most liberal factions

No seats on bus, train; migrant workers return to Surat on flights

• With unlock, the migrant workers, who had gone back to their native place have now started returning to Surat
• But they are facing one problem - unavailability of train tickets from their states

SBI Card joins hands with American Express to offer premium benefits, services

• This alliance is another step in our efforts to bolster our premium portfolio, said Ashwini Kumar Tewari, MD & CEO, SBI Card
• With this launch, SBI Card will have products across four networks

Property prices in Delhi, Mumbai set for bigger fall than in Chennai, Bengaluru

• Most new housing projects are either unsold or delayed due to the coronavirus spreading in the country at the fastest rate in the world
• Even before pandemic struck, house prices had declined nearly 1% during the January-March period from the previous quarter, according to RBI data

Covid vaccine: Russia may be the first to announce data from final trial

• Russia has pushed ahead with its potential COVID-19 vaccine at top speed with mass public vaccinations alongside the main human trial
• British drugmaker AstraZeneca launched a Phase III trial for its vaccine in May and has not yet disclosed any trends

Govt yet to take a decision on reopening schools: Karnataka Education Minister

• A section of private school teachers have appealed to the government to resume classes as they were rendered jobless after the closure of schools

Hospitals struggling for oxygen supply as pandemic surges

Most plants producing medical oxygen are concentrated in eastern and western India, leaving large areas of the densely populated north and center without quick access to the essential medical supply

SBI is hiring for multiple positions. Apply online at sbi.co.in

• SBI jobs: Candidates can fill and submit the form online on or before October 8
• There will be no written exam and selection process will be based on interview and relevant work experience

Russia to supply 2.5 crore doses of covid vaccines to Nepal

• Russia will supply covid vaccines to Nepal via Trinity Pharmaceuticals, which it described as a private healthcare firm and key distributor there

FIIs lap up debt as Centre prepares to borrow more

• Foreign investors turned net buyers of govt debt after 6 months of selling
• As covid strains govt finances, its borrowings have exceeded the budgeted estimates for the year to 31 March

US election likely to be net positive for Indian equities

• A loose monetary policy stance by the Fed augurs well for EMs such as India: Experts
• A disputed election in the US will initially put downward pressure on the dollar and risk assets

How SBI account holders can check balance, view passbook without log in

• If you have an account in SBI and want to check your account balance, you can do it in a number of ways
• The balance can also be checked through SBI Yono app

Emerging platforms can help you choose what to watch on Netflix, Amazon

• One VoD platform may throw up recommendations based on what you’ve watched on it, but the algorithm gets messed up when the same account is being mooched by multiple users, as is often the case in India

'You are accountable for safety of women in UP': Priyanka tells Yogi Adityanath

• Hathras gangrape incident: Priyanka Gandhi Vadra today hit out at the Yogi Adityanath government
• The woman was shifted to a hospital in Delhi from Aligarh on Monday after her condition showed no signs of improvement

Amnesty International halts India operations, says faces harassment

• Human rights group Amnesty International said it is stopping its work in India because the government has frozen its bank accounts
• 'The organisation has been compelled to let go of staff in India and pause all its ongoing campaign and research work,' the group said in a statement

Remittances lead to more robberies and thefts

Apart from lifting local incomes, remittances can also increase non-violent crime in a region, a study finds. Violent crimes come down, though

RBI extends enhanced borrowing limit for banks under MSF till 31 March

The facility which was initially available up to June 30 was later extended up to September 30 due to economic disruptions caused by the COVID-19 pandemic and subsequent lockdown

Vedanta gets in-principle nod for delisting from BSE, NSE

• Post approval, the company's parent Vedanta Resources (VRL) and its subsidiaries issued a public announcement with regard to the delisting offer

Walmart looks to join hands with Tata group in retail push

• Walmart may buy a stake in Tata’s super app for up to $25 bn
• The super app, which is likely to be launched in Dec-Jan, will bring together Tata’s consumer biz under one channel