PM Narendra Modi today recalled the resolve about ‘vocal for local’ while shopping for festivals. He also urged the people to celebrate the festival during pandemic with restrain. “The fervour of festivals and the glitter and sparkle of the marketplace are interconnected. But this time when you go shopping, do remember our resolve of ‘Vocal for Local’. While purchasing items from the market, we have to accord priority to local products,” Modi said.
-Business Line
Yes Bank lacked a culture of cost control, and under the new management, the lender is targeting to reduce operational expenses by 20% in FY21 by rationalizing branches and ATMs, giving up unwanted leased spaces and renegotiating rents, a top official has said.
-Business Line
ICICI Bank on Saturday said it has shut down operations in Sri Lanka after getting approval from the Sri Lankan monetary authority. The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICI Bank, has granted approval to close down business operation of the bank in Sri Lanka and cancel the licence issued to it, ICICI Bank said in a regulatory filing.
-Business Line
RBI Governor Shaktikanta Das today said he has tested positive for coronavirus. He said that he will continue to work from isolation. He also said that he is in touch with all Deputy Governors and other officers through video conference and telephone.
-Livemint
Central Govt employees can submit multiple bills of goods and services purchased in their own name to avail the benefit of the LTC cash voucher scheme, according to the Finance Ministry. The Expenditure Department, under the Ministry, has issued a set of FAQs on LTC cash voucher scheme, clarifying that an employee can also avail the scheme utilising the applicable LTC fare without leave encashment.
-Economic Times
The country's foreign exchange reserves touched a life time high of USD 555.12 billion after it surged by USD 3.615 billion in the week ended Oct 16, according to RBI data. In the previous week ended Oct 9, 2020, the reserves had increased by USD 5.867 billion to reach USD 551.505 billion.
-Business Standard
This week, the rupee managed to break out of the 73.30-73.50 range it had been stuck in for the last few sessions. What surprised was the aggressive buying of dollars by nationalized banks, despite a broad weakness in the global dollar market. The rupee weakened even as the domestic equity and bond markets recorded gains. There are several hypothesis behind the aggressive dollar purchases by the central bank, but the narrative gaining traction is that it could be an attempt to disincentivize cheap Chinese imports and give a fillip to domestic manufacturing.
-Economic Times
6 of the top 10 most valued Indian firms added a cumulative Rs 86,683.71 Cr in market valuation last week.HDFC Bank, India's biggest private sector lender, witnessed it's valuation soar by Rs 20198.59 Cr to stand at Rs 680092.72 Cr in market In valuation. The list of top 10 firms, RIL retained its number one rank followed by TCS, HDFC Bank, HUL, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and HCL. On a weekly basis, the Sensex rallied 702.52 points or 1.75%.
-Financial Express
-25-10-2020
No comments:
Post a Comment