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The government through Food Corporation of India (FCI) and state agencies undertakes procurement of paddy at MSP.
The government through Food Corporation of India (FCI) and state agencies undertakes procurement of paddy at MSP.

Govt's paddy buying at MSP rises 28.5% in less than a month; highest from Punjab

  • Paddy has been procured from 10.09 lakh farmers at the MSP value of 22,026.26 crore
  • Till October 14, about 883.34 tonne of moong and urad at MSP value of 6.36 crore has been procured from 862 farmers in Haryana, Tamil Nadu and Maharashtra

All HFCs shall be required to submit to the Reserve Bank, a Board approved plan within three months (MINT_PRINT)
All HFCs shall be required to submit to the Reserve Bank, a Board approved plan within three months (MINT_PRINT)

RBI revises rules for housing finance companies

  • The central bank has prescribed a glide path whereby HFs should constitute atleast 50% of total assets towards housing finance and 40% of total assets towards housing finance for individuals by March 2022
  • The revision in rules are based on the recommendations made in July this year

Sashidhar Jagdishan will take charge of HDFC Bank on 27 October in one of the most-watched corner office changes in corporate India. He replaces founder CEO Aditya Puri
Sashidhar Jagdishan will take charge of HDFC Bank on 27 October in one of the most-watched corner office changes in corporate India. He replaces founder CEO Aditya Puri

Inside HDFC Bank’s old-new playbook

Incoming CEO Sashidhar Jagdishan inherits a bank in fine fettle. Where will he take it from here?

Payment firms issue proprietary QR codes to merchants which can only accept digital payments from specific mobile applications. (REUTERS)
Payment firms issue proprietary QR codes to merchants which can only accept digital payments from specific mobile applications. (REUTERS)

RBI bars payment firms from issuing new proprietary QR codes

  • The new norms will remove the need to maintain different apps and allow the use of one QR code through which all payments can be made
  • The regulator also added that it will continue with the consultative process to standardize and improve interoperable QR codes

The Reserve Bank of India on Friday said it will conduct thefirst-ever purchase auction of state government bonds.afp (MINT_PRINT)
The Reserve Bank of India on Friday said it will conduct thefirst-ever purchase auction of state government bonds.afp (MINT_PRINT)

RBI buys 10,000 crore of state bonds

  • The central bank offered to purchase 1505 crore worth of 7.78% Maharashtra SDL 2029 and 1199 crore worth of 7.17% Karnataka SDL 2029
  • The cut off yields across SDLs varied from 6.47% to 6.55%.

The two interoperable QR codes in existence – UPI QR and Bharat QR – shall continue (Mint)
File photo of Diego Maradona
Photo: Mint
Within the telecom space, hiring for infrastructure and technology towards gaming and edutech applications recorded a jump of 20-25%. Mint
Within the telecom space, hiring for infrastructure and technology towards gaming and edutech applications recorded a jump of 20-25%. Mint

Telecom infra hiring surges amid covid

Hiring of engineers, riggers and forward repair team workers surged as companies worked to provide seamless services to customers and ensure connectivity

Around 1.35 billion UPI transactions were recorded in the first 20 days of October. Mint
This unique initiative has been taken to promote the various art forms of India along with the khadi fabric.
Infosys’s digital revenues grew at a scorching 25.4% year-on-year in constant currency terms to $1.57 billion and contributed 47.3% to total revenues in the September quarter.
Infosys’s digital revenues grew at a scorching 25.4% year-on-year in constant currency terms to $1.57 billion and contributed 47.3% to total revenues in the September quarter.

For Infosys, the cloud is the limit

Chief executive Salil Parekh says digital can cross 50% of the total revenues soon

FILE PHOTO: International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S., (REUTERS)
FILE PHOTO: International Monetary Fund logo is seen outside the headquarters building during the IMF/World Bank spring meeting in Washington, U.S., (REUTERS)

IMF cuts Asia's growth forecast, warns of pandemic-driven risks

  • The IMF said it expects Asia's economy to contract 2.2% this year
  • India's economy is likely to shrink 10.3% this year in stark contrast to China, which is set to expand 1.9%

Its release coincides with the 50th anniversary of his first self-titled solo endeavour (REUTERS)
The Reserve Bank of India (RBI) Governor Shaktikanta Das. (REUTERS)
The Reserve Bank of India (RBI) Governor Shaktikanta Das. (REUTERS)

RBI constantly trying to be innovative to aid recovery: Shaktikanta Das

The Reserve Bank of India governor said the economy was at the cusp of recovery and pointed out that governance in banks and non-bank lenders, especially the functioning of their boards, & various board committees are important given the financial sector’s role in supporting the turnaround

Former BCCI CEO Rahul Johri has been appointed president, business, South Asia, Zee Entertainment Enterprises
Former BCCI CEO Rahul Johri has been appointed president, business, South Asia, Zee Entertainment Enterprises

ZEE restructures business units, makes new appointments

  • As part of its strategies, Zee said it shall focus on enhancing viewer intimacy, capturing and embedding sociocultural insights and the finer nuances of the local languages

Adhil Shetty, Chief executive officer, BankBazaar
ReNew Power is a seasoned participant in the dollar bond market.Photo: Bloomberg
FILE PHOTO: The company's logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann/File Photo (REUTERS)
FILE PHOTO: The company's logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann/File Photo (REUTERS)

Strong mid-single-digit growth in India business: Nestle

  • The September quarter could help gauge demand for its Maggi noodles and packaged milk brands in India
  • The brokerage expects Nestle India to post 7% year-on-year growth in domestic revenues in the September quarter

RBI chief Shaktikanta Das, 'We need to build capital buffer for banks, NBFCs to deal with stress caused by COVID-19' (MINT_PRINT)
RBI chief Shaktikanta Das, 'We need to build capital buffer for banks, NBFCs to deal with stress caused by COVID-19' (MINT_PRINT)

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

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