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Top headlines: RBI mum on corporates in banks; Niti releases poverty index

RBI retains on maintain suggestion to offer financial institution licence to huge companies

The Reserve Bank of India (RBI) has not but accepted a advice to permit industrial homes to drift banks in the nation and has saved the non-promoter shareholding capped at 10 per cent for people or non-financial establishments.

The inside working group, constituted on June 12 final year below the chairmanship of Prasanna Kumar Mohanty, director, central board of RBI, had prompt in its November 20 report that giant company, or industrial homes ought to be allowed in banking after essential amendments to the Banking Regulations Act. Read extra

Bihar, Jharkhand, UP emerge as poorest states in India: Niti Aayog

Bihar, Jharkhand and Uttar Pradesh have emerged because the poorest states in India, based on Niti Aayog’s Multidimensional Poverty Index (MPI).

As per the index, 51.91 per cent inhabitants of Bihar is poor, adopted by 42.16 per cent in Jharkhand, 37.79 per cent in Uttar Pradesh. While Madhya Pradesh (36.65 per cent) has been positioned fourth in the index, Meghalaya (32.67 per cent) is on the fifth spot. Read extra

Black Friday: Sensex sinks 1,400 factors. What’s spooking the markets in the present day?

It was really a ‘Black Friday’ for the Indian markets that noticed an across-the-board sell-off. The S&P BSE Sensex shaved-off over 1,400 factors in intra-day offers. Its counterpart on the National Stock Exchange, the Nifty50 index, lost over 400 factors. Read extra

Tomato costs to stay elevated for 2 extra months: Crisil Research

Wayward and extra rains have resulted in the continued spike in vegetable costs, and the price of tomatoes will proceed to be at elevated ranges for 2 extra months, Crisil Research mentioned on Friday.

The state of affairs in Karnataka, one of many main tomato rising areas, is so “grim” that the vegetable is being despatched from Maharashtra’s Nashik, it mentioned, pointing to on-ground interactions. Read extra

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