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.

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.

Muted yields and higher fuel prices to delay smooth landing for airlines

Passenger traffic recovery will be a key factor that can drive the fortunes of airlines hereon, say analysts

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

RBI has major concerns about crypto, says Das

Governor says central bank is getting ready to launch own digital currency

PM Modi directs bureaucrats to expedite delayed infra projects

• Modi chaired the 36th PRAGATI meeting and reviewed projects worth ₹44,545 crore
• Modi also has asked officials to pay special attention to the quality of the roads that are being constructed under the rural roads scheme

Higher digital adoption shifts focus to omnichannel retail

India was one nation where digital adoption among consumers was one of the highest, say experts

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

Indian retail investors dabble in stocks directly, ditching mutual funds

Domestic investors have withdrawn ₹27,500 crore from equity mutual funds in the year to Feb. 16, according to data from the SEBI, after dumping a total of ₹54,500 crore in 2020

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 single-shot vaccine 'safe and effective' against virus: USFDA

• The vaccine was 72% effective in a US clinical trial, the USFDA mentioned

No offline exams up to Class 8 in Delhi govt schools: Directorate of Education

• The guidelines of the Directorate of Education (DoE) have been issued to the government-run and aided schools for assessment for the 2020-21 academic session

Why BSE turnover was far lower than NSE, despite latter’s trading halt

One reason for the drop is that some brokers have invested in infra that allows them to trade only on the NSE

West Bengal makes negative Covid report must for travellers from these 4 states

• People travelling to Bengal from Maharashtra, Kerala, Karnataka and Telangana by flights will have to show a negative RT-PCR test from Saturday

COVID-19 vaccination for elderly, people with comorbidities starts from March

• The central government will rope in 10,000 government and 20,000 private clinics for vaccination commencing from 1 March

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

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

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.

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

Axis Securities wins the bid to acquire broking accounts of Karvy

• The transfer will help broking clients of Karvy to continue access to the securities market.

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

Govt to set up national asset monetization pipeline for sale of CPSE assets

• Modi said it is not necessary or possible for the government to remain the owner of so many CPSEs
• The government has set an ambitious disinvestment target of ₹1.75 trillion for FY22

Maharashtra sees record spike of 8,807 new Covid cases, tally crosses 21.21 lakh

• According to an official statement of the state Health Department, with 8,807 fresh infections, Maharashtra's Covid-19 tally rose to 21,21,119

Sensex surges over 1030 points in extended session after technical glitch on NSE

• NSE had earlier halted trading due to technical glitch
• Banking stocks led the gains today

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

Capgemini, Accenture outlook vastly differs Street's bright view for Infy, TCS

• Indian software companies reported stellar earnings last quarter, with multi-quarter high operating margins aided by cost rationalisation measures. However, with some costs coming back, analysts caution that Oct-Dec margin represents a peak and will decline going forward

COVID-19 vaccine: You have to pay for your vaccine in private hospitals

• The amount people would need to pay for COVID-19 vaccination in private hospitals will be decided by the health ministry within 3-4 days, Javadekar said

RBI Governor Shaktikanta Das voices ‘major concerns’ about cryptocurrencies

• These major concerns have been conveyed to the government, RBI Governor Shaktikanta Das said
• The Central Bank is exploring whether there is a need to issue a digital version of the rupee in the country

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

Your salary hikes this year may not increase take-home pay

The Aon survey showed that 88 per cent of the surveyed companies reported that they intend to increase salaries in 2021

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: Negative covid report to be mandatory for arrivals from these 5 states

• Delhi will make it mandatory for those arriving from these states to carry a negative coronavirus test report from Friday
• Delhi recorded 145 fresh Covid-19 cases and two new fatalities on Tuesday

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

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

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

Hyundai to launch Creta-based 7-seater SUV Alcazar in India this year

The company claims that the Hyundai Alcazar will redefine driving experiences with a combination of versatility and futuristic characteristics

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 Sai Temple: Darshan timings changed after night curfew in Ahmednagar

• To curb the rise in Covid-19 cases, a night curfew has been imposed by District Collector in Ahmednagar
• Maharashtra continues to be one of the worst affected states in the country