A steeper deposit rate fall benefits banks’ loan book

With deposit rates of both private sector and public sector banks falling much faster than lending rates, the banks have managed to increase the profitability of their lending business

Bihar goes to polls for first phase on Wednesday amid keen electoral battle

• The elections will be the first in the situation created by COVID-19 that has posed new challenges for the participants in the electoral process
• Elections to 243-seat Bihar assembly are being held in three phases

2+2 talks: US says it stands with India in efforts to defend its sovereignty

China's military belligerence in eastern Ladakh and Indo-Pacific region figured prominently during the third edition of the 2+2 strategic dialogue between India and the US

Tata Motors outpaces Street as JLR rides to profitability

• Analysts have pointed out that overall discount levels have come down, aiding revenues
• JLR’s Q2 revenues shot up 52% sequentially, although y-o-y, they were lower 28%

Apple trade-in options: Check if your phone can be exchanged for new iPhone

• Apple Online Store in India is providing a trade-in value up to ₹63,000 that can be used to lower the price of a new iPhone
• Customers will then have to pay the remaining value either in full or EMI to complete their purchase

Bharti Airtel's strong results hold a mirror up to pessimistic investors

Bharti Airtel’s performance in nearly all operating segments was ahead of expectations

Next few years challenging for states, says RBI

• States’ outstanding debt, largely dominated by market borrowings, is expected to reach 75% of GDP at end-March 2021
• The central bank also emphasised on the importance of investing in health care systems and social safety nets

Sustainable economic recovery may narrow down GDP contraction in FY21, says FM

• If India’s ongoing economic revival remains sustainable in Q3 and Q4, India will be one of the fastest growing economies in the world in FY22, says Nirmala Sitharaman
• She said the govt is assigning top priority to infrastructure buildup for sustainable economic recovery

Government mulling to rope in pharmacists to administer covid-19 vaccine

• India may get enough doses to be administered for which the country would need additional manpower
• Public health experts have said that roping in pharmacists to administer a vaccine can help improve its coverage

Hero MotoCorp to sell, develop Harley-Davidson motorcycles in India

• Over the last two years, the American company has been scouting for local partners in India and China to bring down the cost of operations and develop cheaper motorcycles to cater to the local market

With nearly 5,000 new Covid cases in 24 hrs, Delhi sees highest single-day spike

• The previous highest single-day spike of 4,473 cases was recorded on September 16
• Along with that, 44 new fatalities pushed the death toll in the national capital to 6,356

Airtel posts highest-ever quarterly revenue in Q2FY21; ARPU rises to ₹162

• The company's quarterly consolidated revenue rose 22% to ₹25,785 crore
• Consolidated net loss for the quarter ended 30 Sept came in at ₹763 cr, compared with a loss of ₹23,045 cr a year earlier

Pfizer tops Q3 earnings views, makes progress on COVID shot

• Disruptions from the coronavirus pandemic reduced medicine sales in the US and China by about $500 million
• The biggest US drugmaker by revenue is in the process of spinning off its established products business

Facebook’s India policy chief Ankhi Das steps down after BJP bias controversy

• 'Ankhi has decided to step down from her role in Facebook to pursue her interest in public service,' said Facebook's India Managing Director Ajit Mohan
• Das had recently been questioned by a joint parliamentary committee looking at the Personal Data Protection Bill

Sputnik V: Russia submits application to WHO for emergency use, prequalification

• Prequalification makes a Covid-19 vaccine eligible for global access if they meet unified standards of quality, safety and efficacy
• In India, RDIF has partnered with Dr Reddy’s Laboratories Ltd for conducting clinical trials and distribution of the vaccines

Ankhi Das, Facebook's public policy director for India, steps down

The resignation comes weeks after Facebook and Das faced questions internally from employees over how political content is regulated in its biggest market, India

Festive demand gives economy further push, but outlook uncertain

• Seven of the 16 high-frequency indicators considered in Mint’s macro tracker are now in the green, marking its best performance since March

Sitharaman sees pick up in consumer demand during festival season

Speaking at the India Energy Forum of CERAWeek, the Finance Minister said India's growth this fiscal will be negative or near zero

Tata Motors Q2 consolidated net loss widens to ₹307 cr

• Consolidated revenue from operations fell 18% to ₹53,530 cr
• 'Despite concerns around the risk of a second wave of Covid infections, we expect a gradual recovery of demand and supply in the coming months,' the company said

UBS Wealth, State Street see Indian stocks as US election hedge

• Easing coronavirus infection rates and economic reopening are further strengthening the case for a market that’s trading near record valuations
• High frequency economic indicators in India are showing signs of demand-side recovery

Unlock guidelines issued in Sept to remain in effect till 30 Nov: Govt

• The MHA issued a notification today extending the norms it had put in place on 30 September
• The guidelines issued last month had allowed reopening of cinema halls, swimming pools for sports training and gatherings with restrictions

US stands with India, says Pompeo; mentions killing of Army soldiers in Galwan

• The visit comes at a time when India and China are locked in a serious military conflict along the LAC in Eastern Ladakh
• The timing of the secretaries' visit also holds significance as America is going into the presidential election next week on 3 November

Indian markets shine today. Sensex rally, MSCI rejig in 10 points

• Morgan Stanley said in a note it expects the MSCI India index to see passive inflows of $2.5 billion following the changes.

Pfizer not ready to release coronavirus vaccine data on late-stage trial

Pfizer hopes to be the first US drugmaker to unveil successful data from a late-stage Covid vaccine trial, ahead of rival Moderna Inc. Pfizer and BioNTech launched their 44,000 volunteer phase 3 study of their vaccine candidate in late July

Some good news: Serum CEO on trials suggesting Oxford vaccine works for all ages

British drug maker AstraZeneca said that its vaccine produces an immune response in both young and old adults, raising hopes of a path out of the gloom and economic destruction wrought by the novel coronavirus

Tejashwi Yadav's aggressive challenge opens up Bihar's poll fight

• Various opinion polls have suggested that the NDA will get a majority and the opposition alliance may fall short of the three-digit mark
• Political circles in Patna are abuzz with various theories about a hint of anger and asperity in the speeches of Kumar

India, US sign 'Beca' deal to deepen military ties amid China tensions

The pact represents a deepening of military ties, a testament to the rapid warming of bilateral relations in a span of two decades

South Korea begins review of Oxford covid vaccine

• The Oxford covid vaccine is undergoing final phase trial in many countries
• The Oxford covid vaccine produced a strong immune response in older adults in an earlier trial, the AstraZeneca said

Microsoft to teach coding, data science with the help of a Netflix series

The new learn module goes through the basic but core concepts of important technologies like Artificial intelligence, data science and machine learning

SpiceJet starts facilitating COVID-19 tests for passengers in India, UAE

• The appointment booking service for testing is being offered by VFS Global
• COVID-19 test fees in India will be in accordance with the regulated prices set by local government bodies and the same rates will apply for children and adults

Where does NPS invest your money: Top five stock holdings of pension funds

• NPS Scheme E manages around ₹1,900 crore in its Tier 1 Account, as on September 23
• Reliance Industries remains the top holding of all pension fund managers, shows the data available with the pension fund managers.

Vedanta's failed delisting to weaken holding company's liquidity: Moody's

Large upcoming debt maturities and VRL's negative free cash flow in fiscal 2021 increase the risk that it will run out of liquidity

AMD to buy Xilinx for $35 billion in data center push

• AMD has long been Intel's chief rival for central processor units (CPUs) in the personal computer business
• Since Chief Executive Lisa Su took over AMD in 2014, she has focused on challenging Intel in the fast-growing business of data centers

Banks working on Ant Group’s Hong Kong IPO could get $396 million windfall

• Ant is set to raise as much as $19.8 billion in Hong Kong if it fully exercises an over-allotment option
• Part of the $396 million will come from investors, who pay a 1% brokerage fee when buying shares

Not equities or FDs, e-gold is all that glitters now

There are many ways to invest in e-gold, such as government-backed SGBs issued by RBI, gold ETFs, and gold funds that invest in ETFs

Why covid lockdown was only a temporary respite from air pollution

• Lesser economic activity and vehicular traffic due to the pandemic don’t seem to have made cities in northern India more breathable this winter

Global markets brace for rocky week ahead of contentious US election

• Now market watchers worry that an unexpected victory by President Donald Trump, a Republican, or an uncertain election outcome could force drastic unwinding of positions similar to what occurred in 2016, when investors were overwhelmingly positioned for a Hillary Clinton presidency.

'India got a solid startup ecosystem due to futuristic vision and decisiveness'

The Union Commerce Minister was speaking at the inauguration of 1st Shanghai Cooperation Organisation Startup Forum