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Business News/ News / India/  Evening Digest: Coins worth 11 cr missing from SBI vaults, service charge can be continued for now and more
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Evening Digest: Coins worth ₹11 cr missing from SBI vaults, service charge can be continued for now and more

Ahead of market opening, read top business news, equity market precursors, and economic and banking news updates from India and across the world for 18 August, 2022

Bharti Airtel Ltd on Wednesday said it paid ₹8,312.4 crore to the telecom department, covering payments for the first four of the 20 years it has to pay a total of ₹43,040 crore.. File photo (Bloomberg)Premium
Bharti Airtel Ltd on Wednesday said it paid 8,312.4 crore to the telecom department, covering payments for the first four of the 20 years it has to pay a total of 43,040 crore.. File photo (Bloomberg)

Tax officials told not to summon CEOs, CMDs ‘routinely’

The Central Board of Indirect Taxes and Customs (CBIC) has told field officers to be judicious while exercising their power of issuing summons to senior officials of companies such as chief executive officers (CEOs), chairman and managing directors (CMDs) and chief financial officers (CFOs), showed an official order issued late on Wednesday. Read more

Coins worth 11 crore missing from SBI vaults

The CBI on Thursday conducted searches at 25 locations in connection with a case of coins worth 11 crore going missing from the vaults of an SBI branch in Karauli in Rajasthan, officials said Friday. Read more

Indian inflation still elevated, may warrant policy response: RBI

Inflation in India may still require a monetary policy response going forward as it remains above the target range even though it has eased in recent months, the Reserve Bank of India said on Thursday. Read more

Digital payment to become easier for Indians in UK; UPI to foray into UK market

Expanding further outside India, the indigenously developed real-time payments solution UPI will foray into the UK market starting with QR code-based transactions. Read more

Restaurants free to take service charge till next hearing: Delhi HC

The Delhi High Court on Thursday allowed restaurants to continue to levy service charges till the next hearing on the appeal filed by the Central Consumer Protection Authority (CCPA) over the HC's decision to put a stay on the ban on service charges at eateries. Read more

Adani Gas cuts CNG, PNG prices. Latest rates here

Adani Total Gas has reduced the price for domestic PNG by up to 3.20 per SCM, while CNG price has been trimmed by 4.7 per kg. The Adani Group-backed company stated that the recent intervention by the government has helped the CGD industry in moderating the prices of CNG and home PNG to end customers. Read more

Telcos  pay  up  part of spectrum dues

India’s three private wireless operators have paid 17,855 crore as advance payments for the spectrum bought in an auction earlier this month, exceeding government estimates from the sale for the year. Read More Here.

Cabinet nod for 1.5% interest subvention on farming loans

In a boost to the farm sector, the Union Cabinet on Wednesday approved restoring the interest subvention on short-term agriculture loans for all financial institutions that will ensure steady availability of credit for the agriculture sector and support lending institutions amid rising interest rates. Read More Here.

Sensex zips past 60K as risk regains favour

The benchmark Sensex zoomed past the 60,000 mark on Wednesday, continuing its recent upward trajectory, as foreign portfolio investors returned to India with global risk appetite improving. Read More Here.

Market mayhem cuts fundraising via QIPs

Fundraising by India Inc. through the qualified institutional placement (QIP) route fell 82% in 2022, as global macro headwinds and stock market volatility reduced opportunities for companies to tap the market to raise equity. Read More Here.

Govt to curb Big Tech’s data collection

The Centre has started hectic deliberations over regulating Big Tech’s data collection and usage policies after parliamentarians expressed their concerns over the use of data for stifling genuine competition in the market. Read More Here.

Singapore’s GIC set to invest in Paper Boat maker Hector

Singapore’s sovereign fund GIC Pte. Ltd is looking to invest $70 million in Hector Beverages, the maker of Paper Boat beverages and packaged foods, three people aware of the development said. The deal, likely to be announced soon, values the company at $250-280 million, the people said on the condition of anonymity. Read More Here.

Most Indians are happy with digital world, except these groups

A large section of young urban Indians, especially men and the relatively less privileged, appear to be disillusioned with the digital world, the latest round of the YouGov-Mint-CPR Millennial Survey suggests. Read More Here.

Odisha floods: Over 4.67 lakh affected; govt prepares for next spell of rain

Odisha has been battling flood situation in the state due to heavy rainfall. Special Relief Commissioner, Pradeep Kumar Jena informed ANI that over 4.67 lakh people in 1,757 villages in 10 districts of Odisha have been affected so far. Amid this situation, the administration braces up for the next spell of heavy rain from Thursday as forecast by the meteorological department, P K Jena said. Read More Here.

Covid vaccine: Novovax's two large phase-3 trials shows high levels of protection against infection

US biotechnology major Novavax which is being manufactured by Pune-based Serum Institute of India said that two large phase-3 trials of its COVID-19 vaccine have shown high levels of protection against mild, moderate, and severe infection. Read More Here.

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Published: 18 Aug 2022, 08:11 AM IST
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