View: RBI’s proposal to allow business houses into banking is fraught with risk for system

The proposal raises an important question: Why now? Have we learnt something that allows us to override all the prior cautions on allowing industrial houses into banking? We would argue no. Indeed, to the contrary, it’s even more important today to stick to the tried and tested limits on corporate involvement in banking….

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Festival demand underpins India’s animal spirits in October as signs of recovery take hold

Passenger vehicle sales, a key indicator of demand, rose 14.2% in October from a year ago ahead of India’s festival of lights — Diwali. Retail sales too showed signs of picking up, even though they were nearly 60% below the year-ago level, according to ShopperTrak….

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Post-festival gloom: E-way bills, power demand, railway freight down

​​As on November 22, 40.7 million e-way bills were generated in the month, suggesting that the total for the month may fall well short of the record high of 64 million in October or even 57 million in September, as per the data trend from the Goods and Services Tax Network. …

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Over 40 lakh subscribers enrolled under APY so far this fiscal

With the new additions, the total enrolments under the APY have crossed 2.63 crore, said the Pension Fund Regulatory and Development Authority (PFRDA) in the release….

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Economic activity up on pent-up demand, may not sustain: Icra

Multiple fast-paced indicators, including GST collections, have been showing a sharp recovery since October. “We caution that the spikes in production seen in the various sectors in October 2020, are an exaggeration of the true recovery on the ground, as they have been driven by a large component of pent-up demand that may not sustain after the festive period is over,” Aditi Nayar said….

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Chicken and egg sales likely to reach the pre-Covid levels by March

“Chicken sales and production are back to about 75%, eggs to 80% and by March we will reach the pre-Covid level,” said BS Yadav, MD, Godrej Agrovet, an animal feed company whose poultry arm, Godrej Tyson Foods, sells fresh and frozen chicken….

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Economy showing strong signals of comeback, India seen as trusted partner: Piyush Goyal

In a meeting with industry associations, he asked them to focus on improving quality and productivity, the commerce and industry ministry said in a statement. “He said that the economy is showing strong signals of comeback, and even in the international arena, India’s reputation has gone by several notches and it is being seen as a trusted partner,” Goyal was quoted in the statement….

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GDP contraction to improve to ‘higher single digits’ in Jul-Sept, says expert

The GDP contracted by 23.9 per cent in the June quarter due to strong lockdown measures and leading to expectations of the GDP growth being a negative 14 per cent for the full fiscal. …

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India may extend anti-dumping duty on polyester fabric used in shoes, bags imported from China

The commerce and industry ministry recommended a duty of $547/MT on FDY, which is used in making shoe upper fabrics, luggage/bag and curtain fabrics, coming from China based on an application filed by the Association of Synthetic Fibre Industry….

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WhiteHat Jr gets respite from court against Pradeep Poonia who accused it of malpractices, misleading ads

WhiteHat Jr gets respite from court against Pradeep Poonia who accused it of malpractices, misleading ads…

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