The National Asset Reconstruction Company Ltd (NARCL) and the India Debt Resolution Company Ltd (IDRCL) have received the approval of the Reserve Bank of India (RBI) just ahead of the Union Budget 2022. In relief for SpiceJet, the Supreme Court on Friday gave the airline three weeks’ time to resolve its financial dispute with Swiss firm Credit Suisse AG. On the global front, the International Monetary Fund has warned of more profit booking in the US stock market. Here are some more top news of the day
BUSINESS/ECONOMY
India’s Bad Bank gets RBI nod
India’s very own Bad Bank is now live, with all approvals now in place to set up the National Asset Reconstruction Company Ltd (NARCL) and the India Debt Resolution Company Ltd (IDRCL) in place. Check more details
V Anantha Nageswaran new chief economic advisor
The Narendra Modi government on Friday appointed V Anantha Nageswaran as the chief economic advisor in the union finance ministry, as reported by CNBC-TV18 earlier. Know more
Budget 2022: How to boost consumption sentiment?
Gautam Duggad, Head of Research-Institutional Equities, Motilal Oswal Financial Services and Samiran Chakraborty, Chief Economist-India, Citi shared with CNBC-TV18 whether the budget will provide ingenious means to boost consumption and how can the government can do it. Check details
MARKET
February F&O series begins with 75% rollover from January series
Dalal Street began the February futures & options (F&O) series on Friday, a day after the Nifty50 index ended the January series with a loss of 93.8 points or half a percent. Read more
IMF warns of further stock selloff in US after Fed move on interest rate hikes
The International Monetary Fund (IMF) has warned of further selloff of stocks in the US, particularly in highly valued sectors, in the wake of a sudden and substantial rise in interest rates. Read more
Morgan Stanley sees a 30% upside in Punjab National Bank
Punjab National Bank (PNB) shares surged over 3 percent Friday after posting a 123 percent spike in net profit. Morgan Stanley has an equal-weight rating on PNB shares at a target price of Rs 53, up over 30 percent from its current market price. Read more
INDIA
Supreme Court grants 3 weeks to SpiceJet to resolve financial dispute with Credit Suisse
The Supreme Court on Friday granted three weeks’ time to SpiceJet to resolve its financial dispute with Swiss firm Credit Suisse AG. Read more
Amit Shah holds door-to-door campaign in Uttarakhand’s Rudraprayag
Union Home Minister Amit Shah on Friday held a door-to-door campaign and addressed poll meetings in Uttarakhand’s Rudraprayag district, appealing to people to bring the BJP back to power in the state. Read more
DCGI gives permission to Bharat Biotech for intranasal COVID booster dose trial
The Drugs Controller General of India (DCGI) on Friday gave permission to Bharat Biotech for intranasal COVID booster dose trials. The trials will be done at nine different sites. Read more
WORLD
North Korea confirms latest weapons tests as Kim Jong Un visits key munitions factory
North Korea conducted tests of an upgraded long-range cruise missile and a warhead of a tactical guided missile this week, as leader Kim Jong Un visited a munitions factory producing a “major weapon system,” state media KCNA said. Read more
Fiscal stimulus powers US economy in 2021 to its best performance since 1984
The US economy notched its strongest growth in nearly four decades in 2021 after the government pumped trillions of dollars in COVID-19 relief, and is seen forging ahead despite headwinds from the pandemic, strained supply chains as well as inflation. Read more
US urges China to use influence with Moscow over Ukraine
The United States called on China to use its influence with Russia to urge a diplomatic solution to the Ukraine crisis, but policy experts doubted Beijing would back Washington in the standoff. Read more
YOU & I
Apple iPhone 12 Mini can be yours for Rs 26,000; here’s how
If you wanted to buy an iPhone and couldn’t until now, here’s the opportunity for you. Apple’s iPhone 12 Mini is available with jaw-dropping discounts on Flipkart. Check details
Salary increments may reach pre-COVID levels in India this year
With businesses upbeat about the economy and consumer confidence, salary increments in India will reach pre-COVID levels this year, according to a survey. Read more
How to pick and analyse altcoins
Altcoin refers to crypto tokens introduced after Bitcoin. These coins share the same characteristics and framework as Bitcoin. However, there is one significant difference between the two: the underlying ‘consensus mechanism’. Dig deeper
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