Sebi penalises Kirloskar brothers on charges of fraud

While KIL is controlled by younger brothers Atul and Rahul Kirloskar, Kirloskar Brothers is majority owned by Sanjay Kirloskar

BankBazaar aims to be profitable in FY21 as demand for credit cards surge

• According to RBI data, currently there are more than 54 million active credit cards
• BankBazaar is also witnessing a growth in number of users purchasing home loans, as interest rates have dipped to a 15-year low

India at 'doorstep of revival process' from covid-19: RBI chief Shaktikanta Das

• The fiscal measures taken by the government to deal with the pandemic have so far have been well calibrated and prudent, Das mentioned
• Both fiscal and monetary policy were counter-cyclical and accommodative and both were working in close symmetry, Das said

India to host third edition of 2+2 ministerial dialogue with US on 27 Oct: MEA

• US Secretary of State Michael Pompeo and Secretary of Defense Mark Esper will be visiting India on 26-27 October 2020 to participate in the Dialogue
• Defence Minister Rajnath Singh and EAM S Jaishankar will lead the delegations from the Ministry of Defence and MEA respectively

Indian Auto’s big bet amid a bleak year

With record inventory pile up at dealerships, hopes abound of the long-awaited auto turnaround. Will it happen?

Jio launches made-in-India JioPages browser: Features, other details here

• The JioPages browser also supports eight Indian languages: Hindi, Marathi, Tamil, Gujarati, Telugu, Malayalam, Kannada and Bengali
• JioPages browser is currently available only for Android smartphones

Labour panel questions investments from EPF corpus during coronavirus pandemic

• EPFO has now been subsumed in the labour code so a section of panel members wanted to know what kind of an impact this would have
• The government officials also questioned how the reduced EPF contribution impact beneficiaries of the scheme

Infosys is reaping benefits of early digital investments: Salil Parekh

• ''We laid out a few elements of our plan. The biggest part of that was the focus on digital and that has driven a lot of the transformation and growth that we see with clients.''

We are working on the next stimulus package: Economic affairs secretary

Speaking at the virtual launch of 15th finance commission chairman NK Singh’s autobiography, Sitharaman on Monday said she has not closed the option for another stimulus package

Govt relaxes import norms for onion to boost domestic supply, check prices

• Govt also states that it would offload more onion from buffer stock in coming days to check prices
• The retail price of onion has shown marked increased from end of August 2020, though the price level was below that of last year till October 18, govt's statement reads

EC issues notice to Kamal Nath for 'item' remark, seeks response within 48 hrs

• Facing flak for his controversial jibe at a BJP woman candidate, Nath had earlier expressed regret and claimed that he did not say anything disrespectful
• Nath had maintained that he would not apologise for his remark

Nifty ends higher but again fails to close above 12,000. What analysts say

• This is the third time in eight days Nifty has failed to close above 12,000 in eight days after rising above that level intraday.

Bajaj Finance plays it safe with Q2 provisions, as covid hit runs deep

• The NBFC’s profit dropped 36% as it set aside ₹1,634 cr towards potent risks to its asset quality
• Management is copiously cautious which signals that the lender won’t grow its AUM in a hurry

E-commerce firms clock $3.1 bn in sales in early days of festival season offers

• For Amazon, 91% of its new customer base came from Tier 2 cities and beyond while Flipkart saw almost 65% of its new customers from smaller towns during the first few days of the festival season sales

Fitch affirms Kerala’s rating at BB with stable outlook

• Fitch said Kerala’s total revenue has increased in the last four years even as lockdowns and restrictions imposed in the wake of the coronavirus pandemic have damaged the state's economic and fiscal performance

Home loan at 3.99%: Tata Housing offers new scheme for homebuyers. Details here

• The scheme is applicable to 10 projects until 20 November
• Anarock Chairman Anuj Puri advised that festive offers should be taken advantage of

Govt's Diwali gift: 30 lakh employees to get ₹3,737 crore bonus by next week

• Union Cabinet approves productivity linked bonus and non-productivity linked Bonus for 2019-2020, Javadekar announced
• The bonus will be given in a single instalment, through direct benefit transfer, before Vijayadashami, Javadekar said

'Modi govt synonymous with prosperity': Shah on ₹3,737 cr bonus announcement

• 'I congratulate PM Modi for bringing joy in the lives of about 30.67 lakh central government employees before this festive season,' Home Minister Amit Shah tweets
• In another tweet, he also pointed out the decision taken by the Cabinet on the procurement of apples from Jammu and Kashmir

EU to UK on Brexit talks: 'You can't have cake, eat it too'

• European Council President Charles Michel refused to bow to British insistence for the EU to fundamentally change its negotiating stance
• Britain and the EU have been attempting to strike a new trade deal since the UK left the bloc on Jan. 31

Videocon insolvency: Dhoot family offers to pay ₹30,000 crore to lenders

The Dhoot family, erstwhile promoters of the group, expects a final decision on the settlement offer by the end of this year, provided the lenders and the NCLT agree to it

Canon India launches new offers on cameras, printers, other products

• On the purchase of EOS M200, customers will get a Blaupunkt earbuds set worth ₹7,999
• Customers can also enjoy an extended 3-year warranty, available on all Canon’s Full Frame cameras

Former Tesla CIO Jay Vijayan’s startup Tekion turns unicorn

• Tekion, a cloud technology company focused on the automotive industry, has raised $150 million as part of its Series C financing led by private equity firm Advent International round at over $1 billion valuation, becoming a unicorn in less than four years

Hiring for telecom infra surges amid covid-19

• Since the nationwide lockdown imposed in March, hiring of engineers and maintenance and repair executives has increased by 18-20%

L&T Infotech Q2 revenue and margin growth impresses the Street

• Like other IT players, growth was driven by the banking and finance vertical which saw revenues rising about 9.5% sequentially. At 5.4%, its manufacturing vertical’s revenue growth sequentially is a good sign.

COVID-19: A quick low-cost paper-based test Feluda to be available in India soon

• Similar to a pregnancy strip test, Feluda changes colour if the virus is detected
• Feluda claims to combine the accuracy of the PCR test with the accessibility of the antigen kits.

UltraTech’s valuation gap with Shree Cement may narrow post earnings

UltraTech’s tight leash on expenses continued, with fixed costs declining by 14% y-o-y in the Sep quarter

60km highway to be built in Rajasthan; better movement between Delhi and Mumbai

• The project will be under the Bharatmala Pariyojana, which has constructed 2,921 km of highways
• The highway an undergound passegeway passing through the Mukundra Hill Tiger Reserve

DLF pre-leases 7.7 lakh sq ft office space in Chennai to Standard Chartered GBS

• DCCDL, the joint venture of DLF-GIC and TIDCO, announced the launch DLF Downtown, Chennai with an investment of 5,000 crores, earlier this year

Stick to Covid-19 guidelines while campaigning: EC to political parties

Precautionary measures including wearing face masks, using sanitizers, maintain physical distancing, is a duty cast upon all the stakeholders in the larger interest of public health, the EC said

'Plasma therapy has saved lives of many including mine': Jain on ICMR's decision

• 'Even US has said that it's beneficial,' Delhi health minister says
• The Centre on Tuesday said that it is considering to remove convalescent plasma therapy from the national clinical management protocol for COVID-19

Fire breaks out at Royal Enfield's transit stockyard in Jaipur

• The damage to inventory is negligible and the incident will not have any adverse impact on the company’s operations, Eicher Motors said

SBI announces up to 25 bps concession on home loan rates

• SBI has announced concession in home loan rates by as high as 25 basis points (bps) in order to offer home buyers an enhanced festive delight
• SBI now offers interest rates starting as low as 6.90% for a home loan of up to ₹30 lakh and 7% for above ₹30 lakh

Shops, commercial establishments allowed to operate until 10 pm, starting 22 Oct

Tamil Nadu CM Edappadi K. Palaniswami has now given permission to vegetable shops, grocery stores, restaurants and tea shops to operate till 10 pm from tomorrow

SC to examine if educational institutions, universities fall under consumer law

Students alleged the university induced them to take admission in the course on a false assurance that it had all the requisite approvals from the authorities

Netflix to offer free content for two days, no payment details needed

• Currently, Netflix offers a trial period of 30 days for new users only
• Once this trial period ends, the money for the subscribed plan will get deducted

Pay $60 and apply online: Chinese city offers covid vaccine under emergency use

• Hundreds of thousands of people have already taken experimental COVID-19 vaccines in China since it launched its emergency use programme in July
• Zhejiang became the first Chinese province to offer the voluntary inoculation to non-priority residents via the emergency use programme

Cabinet approves ₹3700 crore bonus for government staff

The move will benefit over 3 million non-gazetted employees including those in autonomous central organization, Union minister Prakash Javadekar said after a cabinet meeting chaired by Prime Minister Narendra Modi

NEET quota bill: DMK chief Stalin writes to TN Governor to give assent to Bill

The NEET quota bill will provide 7.5% horizontal reservation in undergraduate courses in medicine, dentistry, Indian medicine and homeopathy for govt school students who have cleared NEET