April 13, 2021

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IMC EVENTS

IMC OTHER EVENTS

 

16
Apr

Spirituality and Youth

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Notifications

 
INCOME TAX

9
Apr

Notification No. 24/2021 (Delhi)
In exercise of the powers conferred by sub-sections (1), (2) and (5) of section 120 and section 133C of the Income-tax Act

9
Apr

Notification No. 25/2021 (Delhi)
In exercise of powers conferred under sub-section (2) of section 143 of Income-tax Act, 1961 (43 of 1961)

9
Apr

Notification No. 26/2021 (Delhi)
In exercise of the powers conferred by sub-section (6B) of section 250 of the Income-tax Act, 1961 (43 of 1961),

9
Apr

Notification No. 27/2021 (Delhi)
The Central Government hereby amends the notification of the Government of India, Ministry of Finance (Department of Revenue),

9
Apr

Notification No. 28/2021 (Delhi)
The Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely

RBI

8
Apr

RBI/2021-22/07 (Delhi)
Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission

8
Apr

RBI/2021-22/08 (Delhi)
Master Circular - Disbursement of Government Pension by Agency Banks

8
Apr

RBI/2021-22/05 (Delhi)
Master Circular – Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM)

8
Apr

RBI/2021-22/09 (Delhi)
Master Circular on SHG-Bank Linkage Programme

8
Apr

RBI/2021-22/04 (Delhi)
Master Circular – Lead Bank Scheme

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LIVE MARKET

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INDIAN ECONOMY

Retail inflation quickens to 5.52 pc in March on costlier food, fuel

Retail inflation rose to a four-month high of 5.52 per cent in March on account of rising food prices as well as costlier fuel, though it remained within the comfort zone of the Reserve Bank, official data showed on Monday. The highest year-on-year increase in retail prices was witnessed in the ‘oil and fa...

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Industrial production contracts 3.6% in February

Showing sluggishness in the economy amid the pandemic, industrial production contracted for the second straight month by 3.6 per cent in February due to poor performance of manufacturing and mining sectors, official data showed on Monday. The manufacturing sector—which constitutes 77.63 per cent of the ind...

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Innovative India must capture all segments of financial market to fuel growth: IMF

India is on the right track and is innovating on the policy side, including on digital identity and payments, but it also needs to capture all the segments of the financial market and institutions to make sure that every piece fits together like a puzzle to fuel growth in the country, according to a top IMF o...

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India to see ‘K-shaped’ recovery as demand hit: Duvvuri Subbarao

The Indian economy’s recovery is likely to be shaped like a K rather than a V, as rising inequality is poised to hit consumption and growth prospects, the country’s former central bank governor said. “An important consequence of the pandemic has been the sharpening of inequalities,” Duvvuri Subbarao said i...

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Sporadic lockdowns to cost India $1.25 billion per week: Barclays

The sporadic lockdowns / mobility curbs and night curfews put in place across key economic hubs in India in the past few days are likely to cost the nation $1.25 billion per week, says the latest report dated April 12 from Barclays. This increase, Barclays said, reflects modest tightening of activity curbs, a...

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India sees job losses as curbs return to check new coronavirus wave

A fresh round of provincial lockdowns to curb the record rise in virus infections is leading to job losses in India, according to the latest employment data by a private research firm. Unemployment touched 8.6% for the week ending April 11, from 6.7% two weeks ago, showed the data by Centre for Monitoring I...

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MARKET & FINANCE

Centre may offer an exit window to cryptocurrency holders

The government is considering a provision to provide an exit window to holders of cryptocurrencies (cryptos), keeping in mind that banning them outright could deal a blow to investors sitting on them for years. According to sources in the government, the framework in the making may propose a grace period o...

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GLOBAL CORPORATE

Microsoft buying speech recognition firm Nuance in $16 billion deal

Microsoft, on an accelerated growth push, is buying speech recognition company Nuance in a deal worth about $16 billion. Microsoft will pay $56 per share cash. That's a 23 per cent premium to Nuance's Friday closing price. The companies value the transaction including debt at $19.7 billion. Shares of Burli...

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South Korean battery makers agree $1.8 billion settlement

South Korean battery makers LG Energy Solution and SK Innovation Co agreed on Sunday to settle disputes over electric-vehicle (EV) battery technology, avoiding a potential setback for US EV ambitions. The settlement after marathon talks by affiliates of two of South Korea's biggest conglomerates was announce...

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Ant Group gives in to regulators' pressure; to restructure as financial holding company

China's Ant Group, the fintech giant whose $37 billion IPO was derailed by risk-wary regulators days before it was due to list in November, will restructure as a financial holding company, the country's central bank said on Monday. The overhaul comes two days after e-commerce giant Alibaba Group Holding Lt...

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Banking

Remain watchful of evolving situation, push credit flows: RBI Guv to banks

RBI Governor Shaktikanta Das on Monday asked banks to remain watchful of the evolving situation and emphasised the importance of credit flow to sustain the nascent economic recovery amid rising coronavirus cases. In his meeting with MD/CEOs of public sector banks and select private sector lenders, Das also...

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Bank credit rise 5.56%; deposits 11.4% in FY21

Bank credit grew 5.56 per cent to Rs 109.51 lakh crore, while deposits rose 11.4 per cent to Rs 151.13 lakh crore in the financial year ended March 31, 2021, data released by the Reserve Bank of India (RBI) showed. In the 2019-20 fiscal, advances had grown at 6.1 per cent and deposits at 7.9 per cent. "...

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Housing finance companies likely to witness growth of 8-10% in FY22: Report

With demand for housing loans picking up during the last two quarters of fiscal 2020-21, housing finance companies (HFCs) are likely to witness a growth rate of 6-8 per cent during the year and 8-10 per cent in FY2021-22, says a report. The on-book portfolio growth moderated for HFCs in the first nine mont...

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Be watchful of Covid situation, push credit flows: Shaktikanta Das to banks

Reserve Bank of India (RBI) Governor Shaktikanta Das met the heads of public and private sector banks on Monday and cautioned them to remain watchful of the evolving Covid-19 situation in the country. The governor has asked banks to take proactive measures and shore up capital to strengthen their balance s...

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Govt's move to inject Rs 14,500 cr in 4 PSBs won't raise tangible equity

The Centre’s move to inject Rs 14,500 crore in four state-run banks through zero-coupon bonds will bolster their regulatory capital levels, but their lower intrinsic values will not strengthen their tangible equity by as much. Of this, the Central Bank of India is to get Rs 4,800 crore, Indian Overseas Bank R...

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GLOBAL ECONOMY

Trade Report
Country Month Link
Switerzland July 2019 Click
Fed’s Powell sees US boom ahead, with COVID still a risk

The US economy is poised for an extended period of strong growth and hiring, the chair of the Federal Reserve has said in an interview broadcast, though the coronavirus still poses some risk. Chair Jerome Powell, speaking to CBS” ...

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UN chief urges wealth tax on rich who ‘profited’ from Covid-19 pandemic

United Nations Secretary-General Antonio Guterres is calling on nations to institute a wealth tax to help reduce global inequality exacerbated by the Covid-19 pandemic. There has been a $5 trillion surge in the wealth of the wo...

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Billionaire Saudi family breaks with Kingdom secrecy to open up

For Ahmad BinDawood, last year’s share offering in the eponymous Saudi grocery business was a chance to shape his legacy at the family firm he’s worked at since the age of eight, while cementing a $3.1 billion fortune built over t...

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Middle East investor seeks U.S. opportunities as Biden pushes infrastructure plan

Investcorp, a Bahrain-based investment company, is looking for opportunities to invest in U.S. roads and ports as U.S. President Joe Biden proposed to spend more than $2 trillion on infrastructure. Biden is set to meet with bip...

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US budget deficit jumps to an all-time high of $1.7 trillion this year

The US government's budget deficit surged to an all-time high of USD 1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dolla...

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Myanmar economy likely to contract up to 20% as crisis looms: Analysts

With a tea shop right next to key protest zones in Myan­mar’s biggest city, Soe is never quite sure whether he should keep the business open. If protesters enter to evade authorities, the 43-year-old risks getting shot, arreste...

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INDIAN CORPORATE

TCS Q4 net profit rises 14.9 pc to Rs 9,246 cr

The country’s largest software services firm Tata Consultancy Services (TCS) on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter. This is against a net profit of Rs 8,...

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SC stays NGT order stalling Vedanta’s mining ops at Goa plant

In a relief to Vedanta, the Supreme Court on Monday stayed the National Green Tribunal’s (NGT) last month’s order that stalled operations of its mining plant at Dharbandora in Goa for lack of mandatory environmental clearance. A B...

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Flipkart partners Adani group to boost supply chain infrastructure

E-commerce giant Flipkart has formed a strategic and commercial partnership with the Adani group to “strengthen its supply chain infrastructure” and “enhance its ability to serve its rapidly growing base of customers”. Under th...

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Walmart to build massive India warehouse with billionaire Gautam Adani

Flipkart Online Services Pvt signed a pact with tycoon Gautam Adani’s conglomerate to help set up one of India’s largest logistics hubs and a data center, as the Walmart-owned e-commerce firm gears up to battle Amazon for a bigger...

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Report states Honda would relocate India factory to Indonesia, company denies

Indonesia’s Minister of Industry Agus Gumiwang has said that Honda would relocate its plant from India to Indonesia. The message comes after his government met Honda officials during a visit to Japan in March. In a virtual pres...

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Mukesh Ambani is giving 261-year-old British icon a fresh lease of life

A struggling 261-year-old U.K. toy-store chain is seeking a new lease of life in the hands of billionaire Mukesh Ambani, who’s looking to India where about a fifth of the world’s babies are born to fuel its revival. Hamleys, a Br...

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GST

Clarification on reporting 4-digit/6-digit HSNs

GST helpdesk is in receipt of some tickets at helpdesk wherein it was reported that certain 6-digit HSN codes are not available in HSN Master/ not accepted on e-invoice/e-Way bill portals. Background: Notification No. 12/2017-Central Tax dated June 28, 2017, as amended vide Notification No. 78/2020 – Centr...

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SEBI

Sebi announces new guidelines on reporting formats for mutual funds

Capital markets watchdog Sebi on Monday came out with fresh guidelines on reporting formats for mutual funds. The formats for the reports to be submitted by asset management companies (AMCs) to trustees, by AMCs to Sebi and by ...

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