Sensex plunges 1%; biggest fall in 6 months - what's happening?
Sensex continued its downward trend on Friday, as it ended the day at 59307, falling 677 pts. This trading week saw the biggest single-day drop in about 6 months (↓1158 pts), as concerns over inflation, valuations, and policy normalisation by the RBI triggered risk-off bets. Analysts share that the ability of policymakers to tame inflation without compromising on growth, will dictate investors' sentiments in the future.
Source - Business Standard
IRCTC to share 50% convenience fee revenue with Railway ministry
IRCTC said in a notice to the stock exchanges that, the Ministry of Railways has conveyed its decision to share the revenue earned from convenience fees collected by IRCTC in the ratio of 50:50, with effect from November 1, 2021. Income from convenience fees formed the largest chunk of revenue in 2020-21 for IRCTC. Analysts suggest that this move may hit investor confidence.
Source - Business Standard
60 countries sign pledge to cut methane emissions
European Commission President, Ursula Von Der Leyen said that 60 countries had signed a global pledge to cut methane emissions to 30% by 2030, ahead of the COP26 Summit next week. She added that the Summit would be "a moment of truth" for climate actions. It includes countries like Saudi Arabia, Iraq, US, U.K., Canada, France and Germany.
Source - Bloomberg
Govt approves 8.5% interest rate on PF for FYE 21
A source said that the Government has approved an 8.5% interest rate on Employees' Provident Fund (EPF) for FY 2020-21. There are over 5 crore subscribers of the EPF Organisation (EPFO). The 8.5% rate of interest on provident fund deposits for the previous financial year was decided in March this year by the EPFO's apex decision making body, Central Board of Trustees (CBT) headed by the Labour Minister.
Source - The Hindu
Shantikanta Das reappointed as RBI governor
The Government has reappointed Shaktikanta Das as Reserve Bank of India's (RBI) governor. An official statement stated that, "The Appointments Committee of the Cabinet has approved the reappointment of Shaktikanta Das as Reserve Bank of India Governor for three years beyond 10.12.2021 or until further orders, whichever is earlier,"
Source - Hindustan Times
China brushes off India's concerns over its border law
China has recently announced plans to pass a land border law which raised red flags and "concern" for India as tensions and conflicts arise between the two nations along the Line of Actual Control. However, Beijing hoped that "relevant countries" would not make "wanton speculation over normal legislation".
Source - The Hindu
India deploys US weapons along China border
As the stalemate over disputed territory between India and China continues, India has positioned its recently-acquired US-made weaponry along the Indo-China border as a new offensive force to bolster its capabilities. US-made Chinook helicopters, ultra-light towed howitzers & rifles, domestically-made supersonic cruise missiles, and a new-age surveillance system will back Indian troops.
Source - Times of India
Roadblocks at Tikri border under removal
Last November, police placed elaborate barricades with giant nails and substantial concrete blocks on roads, at the farmers' protest at Delhi's Tikri border. On Thursday, these were made to remove amid a Supreme Court hearing that showcased how traffic in this area was being stopped by authorities and not the demonstrators.
Source - The Quint
Live-in relationships part and parcel of life now: Allahabad HC
While hearing pleas against family interference by 2 live-in couples, the Allahabad High Court claimed that live-in relations have become common and need to be seen from the perspective of personal autonomy now and not social morality. The court stressed that the right to life and individual liberty enshrined under Article 21 of the Constitution of India is liable to be protected at all costs.
Source - India Today
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