BackMint Midday Digest: WB CM to attend Niti Aayog meeting, COVID-19 data and more
Here are the top business news, equity market precursors, and economic and banking news updates from India and across the world for 4 August, 2022.
PremiumFailed to file ITR before deadline? Here is what you need to pay
The due date for income tax return (ITR) filing for the financial year 2021-22 was July 31, 2022. A record 72.42 lakh income tax returns were filed on the last day, taking the cumulative returns to 5.83 crore, income tax department informed via a tweet. Read More Here.
Adani Enterprises becomes fourth Adani group company to hit ₹3 lakh crore mcap
Shares of Adani Enterprises Ltd have become the latest Adani group company to hit ₹3 lakh crore market cap. After Adani Transmission, Adani Total Gas and Adani Green Energy Ltd, this is the fourth Adani group company that has joined the club of ₹3 lakh crore market cap companies. Read More Here
Federal Bank becomes India's 1st to list its Payment Gateway on new tax platform
Kerala-based Federal Bank has become country's first bank to list its Payment Gateway platform on the TIN 2.0 platform of the Income Tax Department. Read More Here.
Mamata Banerjee to attend Niti Aayog meeting during her 4-day visit to Delhi
West Bengal Chief Minister Mamata Banerjee is arriving today in Delhi on a 4-day visit, during which she will attend the Niti Aayog meeting on August 7 and is also likely to meet Senior opposition leaders. Read More Here.
India has no shortage of foodgrain, assures Agricultural Minister Narendra Singh Tomar
Foodgrain supplies in the nation are adequate to satisfy demand, according to Agricultural Minister Narendra Singh Tomar's written response to Parliament on August 2. In reference to Centrally-owned food inventories held by the Food Corporation of India and quantities held by states on the Centre's behalf, the minister said there were sufficient stocks in the "central pool." Read More Here.
Covid-19: India reports 53 deaths in a day
India recorded 19,893 fresh coronavirus infections and 53 deaths in the last 24 hours, according to an update issued by the Union health ministry on Thursday. The country’s active caseload now stands at 1,36,478, pushing the tally of cases to 4,40,87,037 since the pandemic hit in March 2020. Read More Here.
OnePlus 10T 5G launches with Snapdragon 8+ Gen 1 processor: Check price in India
OnePlus has launched the OnePlus 10T 5G in India along with global markets. The smartphone is the first ‘T’ series to come after a gap of two years. OnePlus 8T was the last ‘T’ series phone which was launched in 2020. The new handset comes powered by Qualcomm Snapdragon 8+ Gen 1 processor and offers 150 watt charging support. Major update coming with the OnePlus 10T is that the company has removed the alert slider from the device. Read More Here.
Flipkart Big Saving Days date announced: Here's when the sale starts
Flipkart is set to host another edition of its Big Saving Days. The e-commerce platform has announced that the sale will begin on August 6 at midnight and continue till August 10. During the sale days, buyers can claim 10% instant discounts on ICICI Bank and Kotak Mahindra Bank debit and credit cards. Bank offers will also be available on EMI transactions as well. Read More Here.
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RBI MPC meeting: Key interest rates set to return to pre-Covid levels
India’s central bank is expected to deliver another half-point increase in its main policy rate on Friday to signal it’s not letting up in its fight against inflation while fending off further attacks on the rupee. Read More Here.
Centre pulls data bill to make way for wider law
The government withdrew the draft personal data protection (PDP) bill introduced in 2019 to replace it with a broader legal framework on the digital ecosystem based on suggestions made by a parliamentary panel. Read More Here.
Experts see market rally nearing its top
While the benchmark Nifty index has rallied a whopping 14.5% in just under five weeks from its June low, and the volatility index, India Vix, is not showing any signs of underlying fear on D-Street, most fund managers and market experts said investors should be cautious as a potential peak could be just around the corner. Read More Here.
India Inc sees employees log in for early salary options
India Inc. is increasingly tying up with fintech platforms to help employees tide over the month-end cash crunch. The partnerships allow blue-collared and contract employees to get emergency cash without joining a rival, or do multiple shifts that brings down productivity, or abscond after accepting cash-on-delivery from customers. Read More Here.
Patra Chawl Case: Sanjay Raut's ED custody ends Thursday
Shiv Sena MP Sanjay Raut's custody 3-day custody by the Enforcement Directorate (ED) in connection with a money laundering probe ends on 4 August. Read More Here
Comprehensive legal framework is in the works: Ashwini Vaishnaw
The government aims to replace the personal data protection bill with a comprehensive legal framework for the digital ecosystem that will encompass a new telecom law, information technology law, and user privacy law, Ashwini Vaishnaw, minister for electronics, information technology and communications, said in an interview. Read More Here.
Sony eyes ₹450 cr ad revenue from KBC
The new season of Kaun Banega Crorepati (KBC) that goes on air this weekend has managed to boost its sponsorship and advertising rates by 10-15% compared to last year, said broadcaster Sony Entertainment Television. While Hyundai Motor India Ltd is co-presenting sponsor, Asian Paints Royale Glitz, UltraTech Cement, Vi and Gowardhan Ghee are co-powered by sponsors for the 14th edition of iconic quiz show hosted by film star Amitabh Bachchan on the channel. Read More Here.
Walmart cuts hundreds of corporate jobs, cites restructuring effort
In a restructuring effort, Walmart Inc is cutting hundreds of corporate roles, reported The Wall Street Journal on 3 August. Read More Here.
LIC listing drives govt's shareholding in NSE listed companies to record 7.15% in Q1
The listing of the country's largest life insurer, LIC has pushed the government's holding in NSE listed companies to a high of 7.15% in the quarter ending June 30, 2022 (Q1FY23) compared to 5.48% in the March quarter. In value terms, the government's holding in NSE-listed companies has risen by 20.24% to ₹16.99 lakh crore in Q1 due to the LIC IPO issue. Read More Here.
Zawahiri’s killing was a big US success of an era that’s passed
The US drone strike that killed Ayman al-Zawahiri, the head of Al Qaeda and one of the last remaining architects of the 9/11 terrorist attacks on the US, delivered a measure of justice. It did not deliver resolution in the debates still surrounding US counterterrorism policy. Read More Here.
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