Category Archives: Economy Snapshot

General News

• Global CIVID-19 cases exceed 83.8 million; US most-affected in world as tally crosses 20.4 million-mark.
• India COVID-19 tally crosses 10.28 million, recovery rate improves to 96.07%.
• India reports 25 cases of new COVID-19 strain as UK returnees test positive.
• Centre issues 113 pages guidelines for COVID-19 vaccination drive; first Phase to include 30 crore people.
• Farmers’ protest: SC adjourns hearing, asks Govt to consider putting farm laws on hold.
• Opposition lead by Rahul Gandhi, Sharad Pawar meets President, seeks repeal of farm laws.
• Farmers’ protest: Centre agrees to 2 of 4 demands of protesting farmers; next round of talks on Jan 4.
• 9 states successfully completes ‘one nation one ration card’ reform.
• Winter Session of Parliament scrapped due to COVID-19, Budget Session to take place in January.
• UK PM Boris Johnson accepts India’s invite, will be Republic Day parade chief guest.
• UK Foreign Secretary Dominic Raab calls on PM Modi; discuss various facets of strategic partnership.
• India, Nepal discuss trade and investments, propose developing of cross-border economic zone.
• PM Modi speaks to Qatar Amir; task force to be set up to boost Qatari investments into India.
• Rajnath Singh calls for joint efforts against threats of ‘bio-terrorism’ at ASEAN Defence Ministers’ Meet.
• EAM Jaishankar meets business leaders in Qatar; highlights investment opportunities in India.
• Army chief Gen. Naravane holds talks with UAE and top Saudi Generals.
• Army Chief General MM Naravane meets South Korean top military brass to bolster military ties.
• India and Uzbekistan sign nine agreements to strengthen strategic partnership.
• India and Bangladesh seal 7 pacts to expand cooperation in diverse areas, restore a cross-border rail link.
• PM Modi inaugurates world’s largest renewable energy park at Khavda, meets Farmers in Kutch.
• PM launches Ayushman Bharat PM-JAY SEHAT to ensure universal health coverage to people of J&K.
• PM Modi flags off India’s first ever driverless train, launches National Common Mobility Card.
• Education Ministry sets up task force for preparing roadmap on technical education in mother tongue.
• JEE-Mains to be held four times every year from next year; First exam from 23rd to 26th of Feb.
• PM Modi releases postal stamp to mark centenary celebrations of Aligarh Muslim University.
• Cabinet approves merger of four government-run film and media units with NFDC.
• Amit Shah lays foundation stone of medical college, law colleges in Assam.
• J&K DDC polls: Farooq Abdullah-led Gupkar alliance wins big in Kashmir, BJP in Jammu.
• Suvendu Adhikari, 5 TMC MLAs join BJP at Amit Shah’s rally in Midnapore.
• Maharashtra MLC Election: NCP-Congress coalition wins four seats; BJP bags 1.
• Hyderabad civic polls: Ruling TRS wins 55 seats, followed by BJP with 48 seats and AIMIM by 44 seats.
• MP cabinet gives nod to Religious Freedom Bill, forced conversion will invite 10-year-jail term, penalty.
• Arya Rajendran becomes India’s youngest Mayor from Kerala’s Thiruvananthapuram.
• Tamil Nadu grants permission to hold Jallikattu with COVID-19 restrictions.
• Defence Ministry approves acquisition of military hardware worth ₹28,000 crore.
• Navy test-fires anti-ship version of BrahMos supersonic cruise & Prithvi-2 Nuclear capable ballistic missiles.
• ISRO Successfully Launches India’s 42nd Communication Satellite CMS-01 from Sriharikota.
• PM Modi lays foundation stone for new Parliament building.
• Bombay HC stays transfer of Kanjurmarg land for Mumbai metro car shed.
• Indo-Islamic Cultural Foundation (IICF) unveils design of mosque, hospital to be built in Ayodhya.
• Almost 1 billion vaccine doses secured for low- and middle-income countries: WHO.
• Britain first among countries which have begun vaccinating their people against the COVID.
• 137,000 people in UK receive COVID vaccine in 1st week; 1 million Americans vaccinated in 10 days.
• US Vice President Mike Pence, Joe Biden, Kamala Harris publicly receive COVID-19 vaccine shot.
• New strain of Coronavirus identified in UK triggers series of travel bans ahead of holiday season.
• U.S. Electoral College confirms Joe Biden’s win.
• Biden names Janet Yellen as Treasury Secretary and ex-general Lloyd Austin as secretary of defense.
• U.S. House approves $2,000 Coronavirus aid checks sought by Trump.
• US Senate passes bill eliminating per-country cap for employment immigrant visas.
• UK PM Boris Johnson signs EU-UK trade deal after MPs vote to pass agreement.
• UN Chief Antonio Guterres urges global summit to declare ‘climate emergency’.
• UN backs Afghan peace talks in resolution, Russia votes `no’.
• Nepal PM Oli dissolves Parliament amidst power tussle.
• Israeli parliament moves to dissolve government; to hold snap election in March, fourth in two years.
• China 2nd nation to plant flag on the Moon; Chang’e 5 capsule brings 1st new moon samples in 44 years.
• Lebanon PM, former ministers charged over Beirut port blast.
• Bangladesh ships Rohingya refugees to remote island despite outcry.
• Govt to include Gatka, Kalaripayattu, Thang-Ta and Mallakhamba in Khelo India Youth Games 2021.
• BCCI approves 10 teams from 2022 IPL; calls for cricket’s inclusion in 2028 Olympics.
• Chetan Sharma is BCCI’s new chairman of selectors; Abey Kuruvilla, Debashish Mohanty included in panel.
• India vs Australia: Aus win ODI series 2-1, India wins T20 series 2-1, 4 – match Test series levelled at 1-1.
• Virat Kohli becomes fastest cricketer to score 12000 ODI runs, beats Sachin Tendulkar’s record.
• ICC ODI rankings: Virat Kohli, Rohit Sharma retain top two spots; Bumrah sits on 3rd spot.
• Virat Kohli named ICC Male Cricketer of the Decade, honoured with Sir Garfield Sobers Award.
• Cristiano Ronaldo wins Player of the year and ‘Gives’ it to Robert Lewandowski in remarkable gesture.

Business News

• All 28 states and 3 Union Territories choose Option-1 to meet GST implementation shortfall.
• Govt releases 9th instalment of ₹6,000 crore loan to states to meet GST shortfall.
• Cabinet approves ₹3,500 crore subsidy for sugar farmers, 5 crore sugarcane farmers to benefit.
• Cabinet gives nod to next round of spectrum auction.
• Commerce Ministry and AYUSH Ministry decide to set up an AYUSH Export Promotion Council.
• Cabinet approves setting up of public WiFi networks under ‘PM-WiFi Access Network Interface’.
• I&B Ministry issues an advisory on advertisements on Online gaming, Fantasy sports.
• Nitin Gadkari inaugurates National Highway projects in Nagaland, Karnataka, Rajasthan and Assam.
• World Bank approves four India projects worth over $800 million.
• Centre and West Bengal sign $500 million project to build Green National Highway Corridors.
• Centre proposes mandatory airbag for front passenger on all cars.
• FASTag mandatory from February 15, toll collection through FASTag crosses ₹80 crore per day for first time.
• Centre proposes mandatory airbag for front passenger on all cars.
• India’s first indigenously developed 100 Octane premium petrol launched.
• Nitin Gadkari unveils Vedic Paint made from cow dung, says ‘will boost rural economy’.
• Govt shells out ₹22,087 crore as interest towards recap bonds for banks.
• Government issues zero-coupon bonds worth ₹5,500 to recapitalise Punjab and Sind Bank.
• RBI leaves the repo rate unchanged at 4%, maintains status quo.
• RTGS to be made available 24X7 in next few days: RBI Governor.
• RBI asks banks to not declare dividend for FY21; retain profit made in FY20.
• ₹200 crore Lucknow Municipal Corporation Bonds list successfully on the BSE.
• Quick restaurant chain Burger King India, Mrs Bectors Food Specialities make their stock market debut.
• Kotak Mutual Fund launches India’s first international REIT fund of funds.
• Pfizer/BioNTech wins the global COVID vaccine race, vaccine rolled out first in UK.
• Aurobindo Pharma to make COVAXX’s potential COVID-19 vaccine for India, UNICEF.
• India’s first indigenous mRNA vaccine candidate receives approval to initiate human clinical trials.
• India to produce 300 million doses of Russian Sputnik V coronavirus vaccine in 2021
• UK, EU finalise post-Brexit trade deal after 10 months of negotiation; set to enter force on January 1.
• Bangladesh signs Preferential Trade Agreement (PTA) with Bhutan, its first since independence.
• Cuba to devaluate currency from January; peg exchange rate at 24 pesos per US dollar.
• Iraq’s Central Bank devalues Dinar by 22% to push Economy forward ahead of deficit.
• Bitcoin on a record breaking spree, breaches $27,000 to set all-time record high.
• OPEC+ agrees to increase output by 500,000 barrels a day in Jan 2021.
• Airtel, Nokia ink pact for 5G network rollout in Kenya.
• Nokia starts production of next generation 5G equipment at Chennai facility.
• US FCC orders carriers to remove Huawei equipment, starts proceeding to revoke China Telecom’s permit.
• Germany gives nod to Huawei to build 5G networks with security regulations.
• Audi begins manufacturing of A4 facelift in India; launch in early 2021.
• Fiat Chrysler to invest $150 million to set up Global Digital Hub in Hyderabad.
• Bajaj Auto signs MoU with Maharashtra govt to set up new manufacturing unit in Chakan.
• Amazon, Blackberry team up to create cloud-based vehicle software platform IVY.
• Infosys announces long-term strategic partnership with Daimler AG.
• Wipro inks $700 million digital & IT deal with German company METRO AG.
• Salesforce acquires Slack for $27.7 billion in its largest acquisition ever.
• Boeing’s updated 737 MAX completes first flight with media onboard.
• Ryanair buys 75 Boeing MAX jets in largest order since grounding.
• US lawmakers back $15 billion in airline payroll assistance.
• Lockheed Martin inks $4.4 billion deal to acquire Aerojet Rocketdyne.
• Boeing 737 MAX deemed safe to fly by European Union Aviation Safety Agency.
• Infosys, Rolls-Royce ink strategic partnership for aerospace engineering in India.
• Reliance to buy out IMG Worldwide from sports management joint venture for ₹52.08 crore.
• Alibaba hikes share buyback plan to $10 billion from $6 billion.
• Amazon, Amex, Daimler AG and Stripe join to Fund Software Developers in New GitHub Program.
• Sony to buy anime streaming service Crunchyroll from AT&T for $1.175 billion.
• Swiggy partners with PM’s AtmaNibhar Nidhi to bring over 36,000 street food vendors online.
• Reddit buys TikTok rival Dubsmash, to allow users to upload and stream short-form videos.
• Facebook launches collaborative music video app Collab for iOS users.
• Sony, Microsoft and Nintendo collaborate on shared safety standards for online gaming.
• CCI initiates investigation against cement companies over alleged anti-competitive behaviour.
• SC rejects Vedanta’s interim plea to inspect, operate closed Sterlite copper unit at Tuticorin.
• Nirav Modi’s remand extended by London court; final hearings in 2021.
• Vijay Mallya’s assets in France worth €1.6 million seized by ED.
• Delhi High Court dismisses Future Group plea against Amazon in $3.4 billion asset sale.
• French watchdog fines Google €100 million and Amazon €35 million over cookies law breach.
• Cairn wins arbitration in tax dispute; India asked to pay $1.2 billion in damages.
• China launches antitrust probe into tech giant Alibaba.
• IBM agrees to pay $24.25 million to resolve FCC probes over subsidies.
• UAE’s Lulu group to set up food processing centre in Jammu and Kashmir.
• SBI along with NPCI, Japan’s JCB launch contactless debit card.
• GoDaddy acquires US-based payment processor Poynt for $365 million.
• Ola to invest ₹2,400 crores to set up ‘the world’s largest scooter factory’ in Tamil Nadu.
• Star and Disney India’s Uday Shankar to take over as FICCI President for 2020-21.
• Uday Kotak to head Kotak Mahindra Bank for another 3 years.
• Flipkart board rejig: CEO Kalyan Krishnamurthy, HDFC’s Keki Mistry to join; Steuart Walton, 3 others exit.
• United Spirits names Hina Nagarajan as MD and CEO.

General News

• Global COVID-19 cases cross 63.5 million mark with 1.4 million deaths; US cases pass 13.9 million.
• India’s caseload crosses 9 million mark with recovery rate reaching 93.94%.
• Centre rushes high level teams to Haryana, Rajasthan, Gujarat, Manipur to contain spread of COVID-19.
• MHA issues new COVID-19 guidelines from Dec 1, gives nod to states and UTs to impose local restrictions.
• Delhi gets its first vaccine storage facility at Rajiv Gandhi Super Speciality hospital.
• PM Modi announces $1 million aid to COVID-19 response fund at ASEAN summit.
• PM Modi urges respect for others’ sovereignty, territorial integrity at virtual SCO summit.
• East Asia Summit 2020: India expresses concern over actions that erode trust in South China Sea.
• PM Modi addresses G-20 summit; calls for new Global Index for post-Corona world.
• BRICS nations adopt new counter-terrorism strategy to effectively deal with the menace.
• India, Luxembourg ink 3 pacts to push investment ties in their maiden summit in two decades.
• India and Italy ink 15 agreements, unveil action plan to further strengthen defence ties.
• S Jaishankar meets Abu Dhabi Crown Prince, discusses the strategic cooperation between India and UAE.
• NSA Ajit Doval participates in trilateral talks with Sri Lanka and Maldives.
• Centre releases ₹2,200 crore as first instalment to 15 states for improvement of air quality.
• Centre approves ₹4,382 crore as calamity assistance to six states.
• Nitish Kumar becomes Bihar’s CM for 4th straight term; BJP’s Tarkishore Prasad, Renu Devi as Deputy CMs.
• BJP sweeps Assembly bypolls; BJP wins 41 out of 59 bypoll seats.
• Madhya Pradesh govt announces formation of ‘Cow Cabinet’ for protection of cows.
• CM Yogi Adityanath dedicates power projects worth ₹216 crore to Gorakhpur.
• Punjab CM virtually inaugurates 1467 smart schools, distributes 2625 tablets in govt primary schools.
• General Naravane conferred with the honorary rank of ‘General of the Nepal Army’ by Nepal President.
• Second batch of three Rafale fighter jets arrive in India after flying non-stop from France.
• Indian and Chinese armies conclude 8th round of military talks.
• India successfully test-fires Quick Reaction Surface-to-Air Missile system in Odisha’s Chandipur.
• Land-attack version of BrahMos supersonic cruise missile successfully testfired.
• PSLV-C49, carrying India’s earth observation satellite EOS-01 and 9 others, lifts off from Sriharikota.
• Farmers from Punjab, Haryana protest in Delhi against the Centre’s new farm laws.
• UGC issues guidelines for reopening of Universities & Colleges across country.
• Congress veterans Ahmed Patel, Tarun Gogoi, TCS founder FC Kohli and Diego Maradona passed away.
• Republic TV’s Arnab Goswami arrested in 2018 suicide abetment case, SC grants interim bail.
• VK Sasikala pays ₹10 crore fine in disproportionate assets case.
• US polls 2020 generated highest voter turnout of 66.9%, the highest turnout rate since 1900.
• Joe Biden elected as 46th president of United States with Kamala Harris as his deputy.
• US President-elect Joe Biden unveils economic plan; formal transition of power to Biden begins.
• US officially ends participation in Open Skies Treaty; formally exits global climate pact.
• Trump bans US investment in Chinese military-linked firms.
• Mike Pompeo meets Afghan government officials, Taliban representatives in Doha.
• US approves $600 million sale of armed MQ-9 Reaper drones to Taiwan.
• Barack Obama memoir ‘A Promised Land’ sells more than 887,000 copies on first day.
• England enters into new month-long lockdown as UK virus cases pass 1 million.
• House of Lords rejects Boris Johnson’s treaty-breaking Brexit laws.
• UK announces biggest military investment since Cold War.
• Jacinda Ardern sworn in for second term as New Zealand Prime Minister.
• Australia and Japan agree ‘in principle’ to historic defence pact.
• Aung San Suu Kyi’s party wins absolute majority in Myanmar polls.
• 1 million Chinese injected with Sinopharm vaccine under emergency use scheme.
• Anti-French protests erupts worldwide following President Macron’s recent comments about Islam.
• Chinese Communist Party unveils plan to make PLA on par with US military by 2027.
• Chinese President Xi Jinping orders advancing construction of rail line in Tibet, close to Arunachal Pradesh.
• Armenia, Azerbaijan and Russia sign Nagorno-Karabakh peace deal.
• Bahrain’s long-serving PM Khalifa bin Salman Al Khalifa dies, Crown Prince named new PM.
• Pakistan parliamentary committee passes China-Pakistan Economic Corridor (CPEC) Authority Bill.
• IPL 2020: Mumbai Indians beats Delhi Capitals to win 5th title, Rahul takes home Orange Cap, Kagiso Rabada ends with Purple Cap.
• AUS vs IND : Australia take an unassailable 2-0 lead in the three-match series.
• BCCI announces MPL as the new apparel sponsor for Indian cricket team for three years.
• Jio named title sponsor of BCCI’s Women’s T20 Challenge.
• Shane Watson formally announces retirement from all forms of cricket.
• Australia replace India at the top spot in World Test Championship after ICC’s altered point system.
• Rafael Nadal wins 1,000th ATP Tour match with Paris Masters victory.
• Daniil Medvedev beat Dominic Thiem to win ATP Tour Finals in London.
• Argentinian football legend Diego Maradona dies at 60 after suffering heart failure.

Business News

• Centre transfers ₹6,000 crore as 2nd tranche to 16 States, 3 UTs for meeting GST Compensation shortfall.
• GST e-invoicing mandatory from January 1, 2021 if turnover exceeds ₹100 crore.
• PM Modi renames Shipping Ministry to ‘Ministry of Ports, Shipping and Waterways’.
• Govt makes use of FASTag mandatory for all four wheelers from Jan 1, 2021.
• Cabinet gives in-principle nod to Production Linked Incentives (PLI) in 10 sectors.
• Govt launches Aatmanirbhar Bharat Rozgar Yojana to incentivise job creation during Covid recovery phase.
• Centre okays ₹107.42 crore grant for 28 food processing projects in 10 states.
• India set to become global powerhouse: PM Modi chairs virtual global investor roundtable.
• Tamil Nadu bans online gaming, ₹5,000 fine, imprisonment for violators.
• 50% subsidy on air transportation for fruits & vegetables from North-Eastern & Himalayan states.
• PM Modi & his Bhutanese counterpart jointly launches RuPay Card phase-2 in Bhutan.
• Centre brings Digital news portals, OTT platforms under govt regulation.
• Govt blocks 43 more mobile apps, including AliExpress, Alipay Cashier and CamCard.
• All fixed to mobile calls to be dialled with prefix ‘0’ from Jan 15, 2021.
• Govt provides ₹670 crore support to Regional Rural Banks to meet regulatory capital.
• RBI lifts restriction on Equitas Small Finance Bank for opening of new branches.
• ICICI Bank first private lender to surpass ₹2 trillion in mortgage loan portfolio.
• Cabinet approves Lakshmi Vilas Bank & DBS India merger.
• IRDAI approves HDFC ERGO Health-HDFC ERGO General Insurance and Bharti AXA-ICICI Lombard mergers.
• Markets soar to record high; Sensex tops 44,000 and Nifty crosses 13,000 level.
• Equitas Small Finance Bank and Gland Pharma make their stock market debut.
• Bharat Biotech starts Phase III trials of COVAXIN.
• Pfizer ends vaccine trial with 95% success rate, to apply for approval soon.
• AstraZeneca’s phase 3 interim data shows vaccine 90% effective at lower dose.
• Hetero to manufacture 100 million doses of Sputnik V for India.
• Will work in a public-private partnership to ensure availability of COVID healthcare: Piyush Goyal.
• Regeneron, given to Trump, gets emergency US clearance for COVID-19 therapy.
• Nirav Modi extradition case: UK judge admits CBI, ED evidence.
• TRP scam: Centre forms 4-member committee to review guidelines on television ratings.
• 15 Asian nations sign huge China-backed RCEP trade pact, excluding India and US.
• Britain and Canada agree post-Brexit rollover trade deal.
• Bank Of England keeps interest rate unchanged at 0.1%; injects extra £150 billion into economy.
• US Fed keeps its interest rate unchanged 0.25%, says economy is still well below pre-pandemic levels.
• US Senate unveils $1.4 trillion spending bill amid post-election turmoil.
• EU parliament, govts finalise 2021-2027 budget, £1.6 trillion recovery package.
• Japan’s economy exits recession as GDP grows 5.0% in Q3.
• China publishes draft competition rules for online platforms.
• Ant Group’s record $37-billion IPO suspended in Shanghai, Hong Kong citing ‘major issues’.
• Bitcoin climbs towards all-time high after topping the $19,000 mark.
• Wipro announces collaboration with Cisco.
• Infosys, ATP extend digital innovation partnership for 3 years.
• Qualcomm receives US permission to sell 4G chips to Huawei in exception to ban.
• Huawei sells its Honor smartphone division for $15-billion to Shenzhen govt, Digital China, others.
• iPhone maker Pegatron approves ₹1,110 crore initial investment for a new factory in India.
• MediaTek acquires Intel’s power-management chip business for $85 million.
• Ashok Leyland floats new subsidiary Vishwa Buses and Coaches.
• Fiat Chrysler, PSA win Brazil antitrust approval for merger.
• Porsche and Embraer team up for world’s first matching set of a Jet and Supercar called ‘The Duet’.
• UK to ban sale of new petrol and diesel cars from 2030.
• Harley-Davidson to continue India operations January 2021 onwards.
• Boeing’s 737 Max allowed to fly two years after deadly crashes.
• Korean Air to buy indebted Asiana, emerging as world’s 10th-largest airline.
• SpaceX Crew Dragon launches 4 astronauts to space station in 1st operational flight for NASA.
• Virgin Hyperloop hosts first human ride on new transport system at over 160 kmph for the first time ever.
• Google enters air terminal retail through tie up with startup Airbuy.
• Amazon launches Amazon Pharmacy, a delivery service for prescription medications.
• Amazon Web Services to invest $2.77 billion in Telangana for data centres.
• Public Investment Fund (PIF) of Saudi Arabia to invest $1.3 billion in Reliance Retail for 2.04% stake.
• ADIA, PIF to pump in $1.01 billion in RIL’s fiber assets business.
• Jio Platforms gets ₹33,737 crore from Google for a 7.73% stake.
• Reliance Retail picks up 96% stake in Furniture Retailer Urban Ladder for ₹182.12 crore.
• Western Union buys 15% stake for $200 million in Saudi Telecom’s STC Pay unit.
• WhatsApp payments service gets NPCI nod for roll out in India for upto 20 million users.
• TikTok signs deal with Sony Music to expand music library.
• TikTok sell-by date extended to December 4 by the US Treasury.
• CCI clears Reliance-Future Retail deal despite Amazon’s objections.
• PUBG parent Krafton signs deal to host the game on Microsoft Azure.

Q1 Results

• ICICI Bank Q2 net profit rises over 6-folds to ₹4,251 crore, total income stood at ₹23,650.77 crore.
• HDFC’s Q2 net profit falls 27% YoY to ₹2,870 crore; revenue rose to ₹13,017.68 crore.
• SBI Q2 profit surges 52% to ₹4,574 crore, NII increases 14.6% to ₹28,181 crore.
• Sun Pharma Q2 net profit up 70% at ₹1,813 crore revenue from operations stood at ₹8,553.13 crore.
• Ashok Leyland posts ₹147 crore loss in Q2, revenue down 28% YoY at ₹2,837 crore.
• ITC Q2 PAT declines 20% to ₹3,232 crore, revenue from operations rose a mere 0.1% to ₹11,976.75 crore.
• M&M Q2 Profit dips 3% YoY to ₹1,311 crore, revenue increases 6% to ₹11,590 crore.

General News

• Global COVID-19 cases cross 46 million with over 1.2 million fatalities and more than 33 million recoveries.
• India’s COVID-19 caseload goes past 81 lakh with 10.8 crore tests conducted; recovery rate reaches 91.5%.
• PM Modi launches ‘Jan Andolan’ campaign on COVID-19 appropriate behaviour.
• MHA allows gatherings of over 100 persons in election-bound areas but with strict conditions.
• Centre eases visa restrictions, allows OCI, PIO, foreigners to visit India for any purpose, except for tourism.
• First phase of Bihar poll passes off peacefully with 54.26% voter turnout.
• EC reduces notice period from 30 days to seven days for registration of political parties.
• Rajya Sabha Election For 11 Seats in UP, Uttarakhand to be held on November 9; results on same day.
• NDA reaches seat-sharing deal, JD(U) allotted 122 seats, BJP one less.
• Tejashwi Yadav to lead Grand Alliance; RJD to contest from 144 seats, Congress on 70.
• Mike Pompeo, Mark Esper arrives in India for third India-US 2+2 ministerial dialogue.
• Basic Exchange & Co-operation Agreement(BECA) signed between India & US to deepen military ties.
• Quad foreign ministers of India, USA, Japan, Australia meet in Tokyo amid post-pandemic concerns.
• India, Japan hold strategic dialogue; focus on expanding collaboration in third countries.
• Centre notifies land laws, paving the way for any Indian citizen to buy land in Jammu and Kashmir, Ladakh.
• Ladakh standoff: India-China to hold 8th round of military-level talks next month.
• PM Modi inaugurates Atal Tunnel, longest highway tunnel in the world at 3,000-meter altitude.
• India successfully test-fires Brahmos supersonic cruise missile; INS Kavaratti commissioned into Navy.
• Rajnath Singh approves new DRDO procurement manual to facilitate indigenous defence industry.
• Rajnath Singh inaugurates BRO-built 44 major bridges across 7 states/UTs.
• Air India receives 2 Boeing 777 aircrafts, to fly President, Vice-President & PM on international visits.
• Groundwork for new Parliament building begins; to be completed in 22 months.
• Punjab govt introduces 4 Bills in Assembly to negate Centre’s farm reform laws.
• PDP chief & former J&K CM Mehbooba Mufti released from detention after 14 months.
• Widespread power outage brings Mumbai to a halt; supply being restored in a phased manner.
• Goa becomes first ‘Har Ghar Jal’ state to provide tap water connections to every rural household.
• President signs ordinance to constitute Commission for Air Quality Management in NCR & adjoining areas.
• Union Minister Ram Vilas Paswan passes away; Piyush Goyal assigned Consumer Affairs ministry.
• Fodder scam: Jharkhand HC grants bail to Lalu Prasad Yadav in Chaibasa Treasury case.
• UN food agency World Food Programme wins Nobel Peace Prize 2020 for its efforts to combat hunger.
• With 50 signatories, nuclear weapons ban treaty to enter into force: UN.
• Donald Trump signs bill to keep the government running into December after funding briefly lapsed.
• US President Donald Trump, first lady Melania test COVID-19 positive after top aide contracts virus.
• US President Trump’s pick Amy Coney Barrett sworn in as the 115th Supreme Court justice.
• Early U.S. vote surpasses 85 million , including 9 million in Texas.
• Twitter, Google, Facebook CEOs rebuff political ‘bias’ claims, vow to defend polls.
• Trump administration proposes to scrap computerised lottery system to select H-1B visas.
• Japan’s Cabinet approves measure to provide free COVID-19 vaccines to public.
• China, Pakistan and Russia win seats on UN human rights council, Saudi Arabia lose.
• China joins WHO-backed global vaccine alliance COVAX.
• British PM announces 3-tier local lockdown system amid rising coronavirus concerns.
• France and Germany Announce New Restrictions as Cases Surge in Europe.
• Spain enters six-month state of emergency to tackle pandemic.
• Russia begins production of second COVID-19 vaccine despite pending Phase 3 trials.
• Jacinda Ardern’s Labour Party wins New Zealand’s general election by landslide.
• Lebanon, Israel announce US-mediated talks over sea border.
• Pakistan to remain in FATF ‘grey’ list till Feb 2021 as nation fails to fulfil six key obligations.
• French Open: Rafael Nadal clinches 20th Grand Slam title, Iga Swiatek first Pole to win Grand Slam title.
• Honda to quit Formula 1 after end of the 2021 season.
• Lewis Hamilton wins Eifel GP to equal Michael Schumacher’s F1 win record.
• IPL: Mumabi Indians lead the table, CSK becomes first team to bow out from IPL 2020.
• Delhi Capitals pacer Anrich Nortje clocks over 156 kmph, bowls fastest ball in IPL.
• Pakistan pacer Umar Gul announces retirement from all forms of cricket.

Business News

• RBI monetary policy: MSF, Repo and Reverse Repo Rates remain unchanged, stance to be accommodative.
• RTGS system for real time fund transfer to become 24×7 from December: RBI.
• Centre waives interest on interest during moratorium for loans upto ₹2 crore.
• Indian economy to contract by 10.3% in 2020; to bounce back with 8.8% growth in 2021: IMF.
• World Bank ups FY21 GDP contraction forecast for India to 9.6%.
• 42nd GST Council meet: Centre to help 21 states borrow ₹1.1 lakh crore.
• Nirmala Sitharaman announces major schemes to boost demand in country by ₹73,000 crore.
• Govt to give ₹12,000 crore interest-free 50-year loan to states for capital projects.
• FM announces ₹37,000 crore additional capital expenditure for infrastructure.
• Government extends LTC cash voucher scheme to non-central government employees.
• Cabinet approves ₹3,737 crore bonus for 30 lakh central government employees.
• Finance Ministry kick-starts budget-making exercise for FY22.
• Last date for filing of Income Tax and GST returns extended till 31st of December.
• Govt extends bid deadline for Air India to Dec 14; revises bid criteria to enterprise value.
• Ministry of Urban Affairs-Swiggy partner to take street food vendors’ businesses online.
• FSSAI’s new food safety compliance platform to become operational across India from Nov 01.
• Govt kickstarts market borrowing, transfers ₹6,000 crore to 16 states, 2 UTs.
• Centre mandates all ministries, public departments, CPSUs to use BSNL, MTNL services.
• Govt clears 16 proposals under PLI scheme to manufacture mobile phones.
• 7,000 tonnes of onions imported, 25,000 tonnes expected before Diwali: Piyush Goyal.
• Kasturi Cotton: Smriti Irani launches first ever Brand & Logo for Indian Cotton on 2nd World Cotton Day.
• CAMS, UTI AMC, Angel Broking make their debut in the market.
• TCS surpasses Accenture to become the world’s most valuable IT company by market cap.
• IRDAI allows renewal, migration and porting of COVID specific policies.
• India’s first COVID-19 vaccine candidate approved for phase III trials.
• USFDA approves use of remdesivir to treat COVID-19 patients in hospitals.
• Dr Reddy’s receives DCGI’s approval to conduct clinical trial for Sputnik V vaccine in India.
• Russian Sputnik V COVID-19 vaccine to be tested on 100 Indian volunteers.
• IAVI, Merck KGaA, Serum Institute join hands to develop monoclonal antibodies for COVID-19.
• Passenger Vehicle sales rise 17% in Jul-Sept, Car sales up 16%, commercial vehicles sale falls 20% : SIAM.
• Vehicle registration across India decline 10.24% YoY in Sept, Passenger vehicle retail sales rise 10%: FADA.
• Supreme Court approves DGCA’s proposal on refund on air tickets booked prior and during lockdown.
• Indian Railways approves Alstom’s e-locos to run freight trains at maximum speed of 120 kmph.
• US proposes $1.5 trillion stimulus, $20 billion aid extension for Airlines.
• China’s economy grows 4.9% in Q3, extending Coronavirus recovery.
• UK budget deficit climbed to an unprecedented £208.5 billion in H1FY21 amid calls for more aid.
• COVID relief pushes US budget deficit to a record $3.1 trillion, largest since World War II.
• World Bank approves $12 billion to help developing countries finance Coronavirus vaccines.
• Britain signs first major post-Brexit trade agreement with Japan.
• Bharti Airtel rolls out cloud-based communications platform for business; tunes into $1-billion market.
• Vodafone Idea gets shareholders’ nod for increasing borrowing limit, issuance of securities.
• Reliance’s Jio Platforms receives ₹2,624 crore from Intel Capital, Qualcomm Ventures.
• Verizon signs up Microsoft, Nokia to help clients build private 5G networks.
• Sweden bans Huawei, ZTE from upcoming 5G networks.
• Nokia picked by NASA to build first cellular network on the Moon.
• Reliance Jio, Qualcomm collaborate to expand 5G trials in India, achieve over 1Gbps speeds.
• IBM to break up 109-year old company to focus on cloud growth.
• South Korea’s SK Hynix buys Intel’s NAND business for $9 billion.
• Wipro, SAP collaborate to offer advanced customer-specific content and boost productivity.
• Microsoft, AICTE collaborate to skill students and educators in next-gen technologies.
• Microsoft partners with SpaceX’s Starlink satellite service for Azure Space cloud platform.
• Paytm launches its own ‘Mini App Store’, over 300 apps join it.
• Reliance Retail gets investments from Silver Lake co-investors, GIC, TPG Capital and KKR.
• Amazon sends legal notice to Future Group for alleged breach of RoFL rights in Reliance deal.
• Digital media, news aggregators, agencies need to comply with 26% FDI cap: Govt.
• TRP scam: BARC temporarily suspends weekly ratings of news channels.
• ₹3,600 crore recovered from Vijay Mallya, SBI-led consortium of banks tells Supreme Court.
• SC junks United Breweries Holdings Ltd plea against HC order to wind up Vijay Mallya’s firm.
• Tata Group to invest ₹5,000 crore to set up phone component plant for Apple in Hosur.
• Govt appoints Ashima Goyal, Shashanka Bhide and Jayant Varma as new MPC members.
• Dinesh Kumar Khara appointed new SBI Chairman for 3 years.
• M Rajeshwar Rao appointed as Deputy Governor of RBI.
• Aditya Puri retires; Sashidhar Jagdishan takes over as HDFC Bank MD and CEO.
• Hyundai Motor Group heir apparent Euisun Chung appointed as Chairman.

Business News

• HDFC Bank reports 18.4% jump in Q2 profit at ₹7,513 crore, NII rises 16.7% to ₹15,776.4 crore.
• Kotak Mahindra Bank Q2 net profit jumps 26% YoY to ₹2,184 crore, NII rose 17% to ₹3,913 crore.
• Yes Bank posts ₹129 crore net profit in Q2, NII fell by 9.7% YoY to ₹1,973.4 crore, provisions down 11%.
• TCS Q2 net profit rises 6.6% QoQ to ₹7,475 crore, revenue rose 4.73% to ₹40,135 crore, declares ₹12
• interim dividend; approves buyback of over 5.33 crore equity shares for up to ₹16,000 crore.
• Infosys Q2 reports rises in net profit of 20.5% to ₹4,845 crore; revenue grows 8.6% YoY to ₹24,570 crore.
• HCL Tech Q2 net profit rises 7% QoQ at ₹3,142 crore, announces interim dividend of ₹4 per share.
• Wipro Q2 profit slips 3.4% to ₹2,466 crore; approves ₹9,500 crore buyback plan.
• Tech Mahindra sees 9.5% QoQ jump in Q2 net profit at ₹1,064 crore, announces special dividend of ₹15.
• Maruti Suzuki Q2 profit rises 1% YoY to ₹1,372 crore, revenue jumped 10.4% to ₹18,744.5 crore.
• Tata Motors Q2 Net loss widens to ₹307 crore; revenue drops 18% YoY to ₹53,530 crore.
• RIL reports 15% YoY drop in consolidated net profit at ₹9,567 crore, revenue fell 24% to ₹1.16 lakh crore.
• Reliance Retail Q2 EBITDA falls 14% to ₹2,009 crore, revenue down 5% at ₹39,199 crore.
• Jio Q2 net profit jumps 3-times to ₹2,844 crore; revenue zooms 33% to ₹17,481 crore.
• IOC Q2 profit up 11-fold at ₹6,227 crore, revenue from operations rose 30% QoQ to ₹1,15,749.43 crore.
• HUL Q2 profit rises 9% to ₹2,009 crore, revenue up 16% to ₹11,442 crore; announces ₹14 interim dividend.
• Britannia Q2 net profit up 23% YoY to ₹495 crore, revenue grew 12.1% to ₹3,419.11 crore.
• Biocon Q2 net profit drops 22% to ₹169 crore on higher R&D cost; revenue jumps 10% to ₹1,760 crore.
• Dr Reddy’s Laboratories Q2 net profit dips 30% YoY to ₹762.3 crore; revenue rises 2% to ₹4,897 crore.
• Vodafone Idea Q2 loss narrows to ₹7,218 crore, total income declined by about to ₹10,791 crore

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in September, 2020

Indian Markets lost about 1.50% last month. Despite the drop, Sensex is holding on to 38,000 levels. On the sectoral indices, Bank Nifty lost about 10%, FMCG by 2.50% while IT went up by 11%, Pharma by 6% and Auto by 1%. FII’s sold 4,250 crores in the equity market and Domestic Institutions sold about 3,450 crores in the equity market. Indian Rupee closed at Rs.73.77 for 1 US $.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in August, 2020.

Indian Markets gained 3% last month. Sensex touched the 38,000 mark and holding on to the levels. On the sectoral indices, Bank Nifty gained about 10%, Auto by 8% while IT, Pharma and FMCG lost around 1%. FII’s invested 40,200 crores in the equity market while Domestic Institutions sold about 6,800 crores in the equity market. Indian Rupee closed at Rs.73.61 for 1 US $.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in July, 2020

Indian Markets gained another 7.50% last month. Nifty has crossed the 11,000 mark and has been able to hold at that levels. On the sectoral indices, IT went up by 22%, Pharma gained 12%, Auto gained 8%, FMCG gained 3% and Bank Nifty gained 1%, FII’s invested 8,200 crores in the equity market while Domestic Institutions sold about 5,000 crores in the equity market. Indian Rupee closed at Rs.74.81 for 1 US $.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in June, 2020

Indian Markets gained about 7.50% last month. Nifty has been able to hold the 10,000 levels and currently at 10,302. On the sectoral indices, Bank Nifty gained 11%, IT gained 5%, Auto gained 8%, Pharma gained 2% and FMCG gained 3%. FII’s invested 23,400 crores in the equity market while Domestic Institutions sold about 1,900 crores in the equity market. Indian Rupee closed at Rs.75.50 for 1 US $.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in May, 2020

Indian Markets lost about 2% last month. As I write today, Nifty is nearing the 10,000 mark; On the sectoral indices, Bank Nifty lost 10% and IT lost about 0.50%.Auto and Pharma gained 5% each and FMCG gained 2%. FII’s invested 11,800 crores in the equity market while Domestic Institutions invested about 2,700 crores in the equity market.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in April, 2020

Financial Year 2020-2021 began with the lock down erasing a complete month in our history; No business could take place except for the testing and hospitalization of Covid patients and availability of essentials like vegetables, fruits and other essentials in the market. All of us learnt to live and work from home.

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in March, 2020

Indian Markets lost an unprecedented 23% last month with the Coronavirus spreading across the World and creating a panic in all the markets. On the sectoral indices, Bank Nifty lost about 34%, Auto 31%, IT 16% and FMCG/Pharma at about 5%. FII’s pulled out 58,600 crores from the equity market while Domestic Institutions had invested Rs.26,350 crores.