Next round of stimulus should focus on infrastructure: NITI Aayog VC

• NITI Aayog is in favour of infrastructure projects being the focus of the next round of stimulus measures rather than helicopter money
• Kumar cited railway station redevelopment as one example of short gestation infrastructure project which can get off the ground quickly

Delhi govt's festive bonus: Employees can opt for cash equivalent of LTC

• 'Keeping in mind the hardship of the employees due to the COVID pandemic and lockdown, the government took the decision, Delhi government said in a statement
• An amount of ₹10,000 will be paid to the employees as advance, under the initiative

Food delivery volumes spike in small cities due to reverse migration

Bengaluru-based food delivery firm Swiggy, due to reverse migration, has seen volumes and gross merchandise value (GMV)

SBI Card Q2 gives a rude shock on asset quality as covid hits repayments

• The cards and payments company reported a 46% fall in its net profit after it had to set aside ₹862 crore as provisions towards bad debts.

Burger King files for IPO, looks to raise ₹542 crore via fresh issue of shares

• The company plans to have about 700 restaurants, including sub-franchised outlets by December 31, 2026
• Investment banks Kotak Mahindra Capital, CLSA India, Edelweiss Financial Services and JM Financial have been appointed to advise the company on the IPO

Covid-19: Modi govt has set aside ₹50,000 crore for vaccination, says report

• Govt estimates an all-in cost of about $6-$7 per person in the nation of 1.3 billion, according to sources
• The biggest challenge for India will be building up cold-chain logistics to distribute vaccines across India in a short period of time, said Kiran Mazumdar-Shaw

US elections 2020: One way Trump is doing better than expected

• Trump could be on track to win a higher percentage of African-American votes than any Republican candidate since Bob Dole
• Trump signed a landmark sentencing reform bill that led to the release of thousands of non-violent offenders

Class 10, 12 board exams should be discontinued after NEP roll out: Sisodia

Sisodia said that any change through NEP would be possible only if we are ready for paradigm shift in our education system, piecemeal approach won't help to achieve NEP goals

Serum Institute joins Merck, IAVI to develop antibodies against coronavirus

• As per a joint statement by IAVI and Serum Institute, the two monoclonal antibodies were co-invented by IAVI and Scripps Research as an innovative intervention to curb the pandemic
• Under IAVI’s agreement with Merck and SII, the partners will conduct an accelerated, integrated program of preclinical and clinical research to evaluate the antibodies for treatment of Covid

Better-than-expected volume growth brightens Asian Paints’ Q2 earnings

• Asian Paints’ gross margins on a standalone and consolidated basis expanded around 200 basis points year-on-year. Tight cost rationalisation aided its Ebidta margin expansion

Gold prices today fall after rising for 3 days, silver rates plunge

• Uncertainty over US stimulus package weighed on gold
• Gold is considered a hedge against inflation and currency debasement

Sensex, Nifty’s 4-day rising streak ends. Key levels to watch now

• Losses in financial and IT stocks and weak global markets pulled Indian benchmarks Sensex and Nifty lower.

Goldman Sachs fined $350 million in Hong Kong over 1MDB

The regulator added that Goldman had accepted the SFC's findings, leading to an early resolution of the disciplinary action

Home loan rates at all-time low. Latest offers by SBI, Kotak Mahindra, Axis Bank

• Kotak Mahindra Bank reduced interest rates on home loans by further 10 bps
• The excitement in the residential real estate sector is palpable this festival season, says Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and Proptiger.com

Covid-19 reinfections are real. Should you be worried?

• A wave of fresh outbreaks is causing a spike in new cases worldwide, before any rash of second bouts
• Reinfections may happen if our immune systems don't consistently mount a strong or durable reaction to the virus

Bajaj Auto’s Q2 results show a much smoother ride post the lockdown

• Its revenue growth accelerated 7% year-on-year and is quite decent considering its three-wheeler segment has been impacted badly by covid-19

PM Modi to virtually inaugurate 3 key projects in Gujarat on 24 October

• The PM will launch the 'Kisan Suryodaya Yojana' for the Gujarat's farmers, inaugurate the Paediatric Heart Hospital attached with UN Mehta Institute of Cardiology and Research Centre and a mobile application for tele-cardiology at the Ahmedabad Civil Hospital
• PM Modi will also inaugurate a ropeway at Girnar on the occasion

Maradona's spectacular 1986 goal still inspires debate on Bank of England policy

• In a speech in 2005, then Bank of England governor Mervyn King cited a spectacular goal by Diego Maradona to show how a central bank can reach its aim by simply guiding expectations

WhatsApp will soon allow customers to buy products directly from Business chats

While WhatsApp already charges businesses for sending notification messages to customers, the new services allow the platform a new revenue making opportunity

Amazon Fire TV stick may soon get a hands free feature

The user will need to pair an external Amazon Alexa device the Fire TV to enable the feature

Wall Street banks see rare payday bonanza in India despite pandemic

• India saw $16.8 billion of M&As in its technology, media, and telecoms sector between January and mid-October
• U.S. and European banks received 41.9% of the total investment banking fees earned in India

Will provide Covid vaccine free of cost once ready: Tamil Nadu CM

• The Tami Nadu government's decision came ahead of next year’s Assembly elections on 7 October
• Earlier today, FM Sitharaman also announced that the BJP's vision document included the promise of free of cost Covid vaccination for the people of Bihar while releasing the party's manifesto for the state polls

Govt eases visa, travel restrictions for foreign and Indian nationals

• The categories of visas using which people can now enter India include business, conferences, employment, studies, research, and medical purposes

IT secy issues warning to Twitter over misrepresentation of India’s map

• The government such violations not only tarnish the credibility of the platform, but also raise questions on the impartiality of the site

Govt may shift chunk of FY21 subsidy burden to next fiscal

• The Centre often rolls over subsidy bill to the next financial year to keep fiscal deficit in check. In FY19, the finance ministry had deferred payment of food subsidy bill of over ₹69,000 crore to meet the fiscal deficit target of 3.4% of GDP

COVID vaccine may be ready by year-end, expects govt. A look at vaccine journey

• At present, three vaccine candidates — Covaxin, ZyCoV-D and Covishield — are at different phases of trial in India
• The regulator granted permission to Dr Reddy's Laboratories for conducting phase II clinical trials of the Russian COVID-19 vaccine Sputnik V

Bihar Dy CM Sushil Kumar Modi tests positive for Covid, admitted at AIIMS Patna

• The deputy chief minister posted on Twitter all the parameters are normal and that he was suffering from mild fever for the last two days
• He also mentioned that he would be back for campaigning soon

11.58 lakh non-gazetted Railway employees to get bonus equal to 78-day wages

• Payment of 78 days’ Productivity Linked Bonus to Railway employees has been estimated to be ₹2081.68 crore
• The maximum amount payable per eligible railway employee is ₹17,951 for 78 days, the ministry states

Royal Enfield Meteor 350 to launch on 6 November: What to expect

The Meteor 350 launch has been delayed but it seems the company will manage to launch the bike just in time for the festive season sales

Govt relaxes visa rules, OCI and PIO card holders can visit India

• Govt permits all OCI, PIO card holders and other foreign nationals to visit India for any purpose, except on tourist visa
• The relaxations will also includes flights operated under Vande Bharat Mission, Air Transport Bubble arrangements

PM Modi says vision of an Aatma Nirbhar Bharat will get realized from Bengal

• Modi said the state has the potential of being the centre of growth for India, and the union government has taken a series of steps through its policy initiatives for the development of Bengal

How mutual fund SWP route can offer you guaranteed monthly income

Under SWP, an investor can set the frequency of the inflows at monthly, quarterly, semi-annual or annual, depending on her requirement.

Hrithik Roshan's mother, Pinkie Roshan, tests postive for Covid-19

When contacted, Rakesh Roshan said that she is currently asymptomatic

Govt revises base year for CPI-IW, adds weight to housing, education, health

• Following the change in base year, the index will give 39% weight to food and beverage consumption of workers now as against 46.2%

Modi's plan for higher legal marriage age of women can be an economic booster

A government-appointed panel is looking at the right marriageable age for women in India, with Modi saying a decision would be taken soon.

China’s Fosun-owned Gland Pharma gets Sebi nod for proposed ₹6,000 cr IPO

• Gland Pharma had filed the draft red herring prospectus for its IPO with Sebi in July. It develops, manufactures and markets complex injectables
• The Fosun group-owned company will use the proceeds of the IPO for capital expenditure and working capital requirements

Aurobindo Pharma shares plunge over 6% after USFDA warning letter

The stock declined 6.37% to ₹754 on the BSE.

Flipkart, Amazon hold talks to acquire stake in Aditya Birla Fashion

• Amazon and Flipkart might look at plugging the gaps across its inventory base by launching value-products focused towards new buyers, and bringing more assortments on to their platform