REGULATORY SIDE
EU banks likely to seek more time for CCIL trade cut-off
Deutsche Bank, BNP Paribas, Credit Agricole, and Societe Generale request a six-month extension from BaFIN and AMF for the October 2024 CCIL trading deadline. This results from ESMA's de-recognition and pending Reserve Bank of India approval for a third-party clearing model proposed in recent ESMA meetings to resolve regulatory conflicts.
Shachindra Nath on expectations from the upcoming Budget
With respect to the budget expectation, as we think, industry have represented a few policy changes. First is on SARFAESI, as HFCs have no limit on the SARFAESI limit, NBFC have Rs 20 lakh, so that has been requested that they should be allowed to have full coverage when it comes to secured loan.
IMEE-EC's India-UAE segment on track: Ports' digital integration moves forward, set to be ready in 100 days
The strategic India-Middle East Europe Economic Corridor (IMEE-EC) is set to commence its India-UAE leg, with a digital platform for port information exchange expected to be operational within the first 100 days of the Modi government. The initiative, aimed at enhancing trade connectivity, faces challenges due to tensions in West Asia, but recent support from the G7 has bolstered its prospects. The corridor, divided into phases, will facilitate the movement of cargo from locations in India to Israel.
Time to revisit as regulatory tightening cleans up the sector: 5 housing finance stocks with upside potential of up to 25%
Housing finance as a sector, has been at the forefront of bearing the brunt of both regulatory changes and also different scams at different points of time. But then it has thrown winners like HDFC and losers like DHFL. So, this is a sector which is bound to grow given the fact that demand for housing is always going to rise. What matters is which stock one owns and also another factor is the time frame with which it has been bought. The reason for the time frame is that this sector has to deal with interest rate cycles and also regulatory changes which makes the stock prone to phases of under performance. In the last one year, since the time RBI has been overhauling the regulatory provision of every segment of financial services these stocks have underperformed , but now recently once again they are showing signs of life coming back.
HECI via consensus on 100-day agenda: Education Minister plans to introduce legislation in Parliament
The Union education ministry will pursue its long-pending agenda of bringing in a single higher education regulator, the Higher Education Commission of India (HECI), within the next 100 days, ET has gathered. It will also look to get the wheels moving for the twice-a-year board exam format from 2025.
Tackling plastic pollution: A call to action for India
Plastic pollution has reached alarming levels, causing devastating consequences for the environment. From clogging waterways to threatening marine life, the pervasive presence of plastic waste demands immediate action.
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Startups seek support, policy continuity from new govt
As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.
Cashless claims to be cleared in 3 hours
Irdai has also mandated the insurer to decide on the cashless authorisation within one hour of receipt of the request.
Chhattisgarh hikes power tariff by 8.35 per cent
Talking to PTI, CSERC secretary Sp Shukla said an average hike of 8.35 per cent in power tariff was applicable across all consumer categories. Power services are managed by three state-run companies for generation, transmission and distribution in the state.
'Banks need to look beyond bulk deposits to fund loans': RBI
The Reserve Bank of India (RBI) Thursday said that banks must reduce their reliance on wholesale deposits to fund loans and be watchful of the risks associated with their advances and trading exposures amid interest rate fluctuations.
Reduce reliance on wholesale deposits to fund loans: RBI to banks
The Reserve Bank of India (RBI) advises banks to reduce dependence on wholesale deposits and manage risks from loans and trading amid fluctuating interest rates. Regulatory measures to curb consumer lending and diversify deposit sources are emphasized. The RBI plans to issue new guidelines to enhance financial stability and asset quality in FY25.
IT firms trim bench strength; GCCs focus on compliance
Happy Thursday! The country’s top IT firms have seen a massive drop in their bench strength, i.e. employees not on active projects. Find out why and more in today’s ETtech Morning Dispatch.
IRDAI probes Care Health's stock option issue to Saluja
IRDAI revealed that a probe into stock option allotment to Saluja is on in response to a query raised by Rahul Kanoj under the Right to Information Act (RTI) to the insurance regulator. The regulator said in its response, "The information sought is not furnished as the same would impede the process of investigation or apprehension." ET has seen IRDAI's response to the RTI query.
GCCs see regulatory compliance as key for India expansion: Survey
Global capability centres (GCCs) operating in India have made it a priority to understand local compliance norms amid an evolving regulatory and GenAI landscape, as per a Nasscom-KPMG survey report.
Markets peak on optimism, not on relative pessimism: Deepak Shenoy
It seems to be, but people seem to still be very scared. Everybody I am talking about is little worried that the markets will fall or that they have reached a peak and there is so much high. So, I think the problem is markets peak on optimism, not on relative pessimism, like we see today.
Shift towards sustainable packaging is helping companies minimise environmental impact, improve operational efficiency
There is a growing consumer demand that presents a mine of opportunities for businesses to reevaluate business strategies in terms of eco-friendly packaging.
AstraZeneca's COVID prevention drug cuts risk of disease in vulnerable patients
AstraZeneca's COVID-19 prevention therapy, sipavibart, has shown a significant reduction in symptomatic COVID-19 cases among immunocompromised patients, a group comprising about 25% of COVID-19 hospitalizations, ICU admissions, and deaths. The therapy, acquired from RQ Bio in May 2022, is expected to work with regulatory authorities globally to bring sipavibart to these vulnerable patients.
Crypto hype to continue but you need to ask: Can the lure of quick money control your financial decisions?
We have reached a stage where everyone thinks that cryptocurrency is a legitimate asset class. While there may be regulatory obstacles, these will eventually be overcome. Another surge in value is inevitable, resulting in substantial increase in the wealth of those who have crypto. With each surge, a new wave of unsuspecting savers will put their financial well-being at risk.
Good shot, bad shot: What you need to know about Covishield issue
Covishield Side Effects: Controversies surrounding vaccine side-effects persist despite Covid-19 waning. Covishield, developed by AstraZeneca and Oxford University, faces scrutiny in India following reports of rare side effects. Legal battles and demands for compensation have emerged as families of alleged victims seek justice. Experts stress the importance of understanding risks versus benefits in vaccine administration.
AstraZeneca to withdraw Covid vaccine globally as demand declines; faces legal challenges over side effects
Astrazeneca Vaccine: AstraZeneca has announced the worldwide withdrawal of its COVID-19 vaccine, Vaxzevria, citing a surplus of updated vaccines amid the pandemic. The company has also faced legal challenges over reported side effects, including blood clots. Families of affected individuals are pursuing legal action, seeking compensation and holding multiple parties accountable for their losses.
Regulatory tightening over? Time to revisit. 5 housing finance stocks with upside potential of up to 39%
To some the news of the possible changes in project finance by banks and other sectoral lenders might appear to have come out of the blue. But the fact is that RBI has been in a process of tightening and cleaning up the system of every segment and subsegment of banking and financial services for more than the last one and a half years. Infact the first set of companies where the tightening of the norms was implemented were housing finance companies. Right from raising capital to disbursement norms, everything was tightened. Whenever there is tightening of norms, stocks from that sector tend to correct. Same has been the case with housing finance companies, they have underperformed in the last one year of bull run. But as the companies adjust to new norms, there will be some players who probably would make a comeback faster. Given the fact that despite all the problems which the sector has faced, it has still grown on an overall basis and there is no reason to believe that this will not happen in future.
Why Saurabh Mukherjea isn't losing sleep over stress in HDFC Bank, Kotak and Bajaj Finance
Saurabh Mukherjea maintains faith in HDFC Bank, Kotak Mahindra Bank, and Bajaj Finance despite challenges. Mukherjea says: "In HDFC Bank's case, the regulator suggested remedial measures, HDFC Bank implemented the remedial measures, and profit growth rebounded. I have no reason to believe that Bajaj and Kotak will find themselves in a different position."
Green energy stocks surge up to 600%! Why green is the new gold on Dalal Street
Green energy stocks surge on Dalal Street with up to 600% returns fueled by India's renewable energy growth. Investors eye opportunities in the sector, driven by ambitious targets, support from Morgan Stanley, and initiatives like the rooftop solar scheme under Pradhanmantri Suryodaya Yojana.
Covishield maker AstraZeneca, SII, govt all responsible for my daughter's death: Father to file case along with 8 parents
In a heartbreaking turn of events, the parents of Karunya, who tragically passed away in 2021 after allegedly receiving the Covishield vaccine, are seeking legal recourse. Her grieving father, Venugopalan Govindan, blames multiple parties for his daughter's death and is determined to hold them accountable.
Bollywood celebs express concern over Covishield vaccine's side effects: What they said
AstraZeneca's recent disclosure about Covishield's rare but serious side effects has sparked concerns among both medical professionals and the public. This revelation, including the potential link to heart attacks and strokes, has prompted reactions from celebrities like Rashami Desai, Pooja Bhatt, and Gauahar Khan. Their expressions of apprehension on social media platforms highlight broader concerns about vaccine safety.
Covishield Vaccine Case: AstraZeneca expresses 'sympathy' for those who lost loved ones
Covishield Vaccine Row: Following AstraZeneca's acknowledgment of a rare side effect associated with its COVID-19 vaccine, known as Covishield in India, the UK pharmaceutical giant extended sympathy to those impacted. Reaffirming its dedication to patient safety amidst concerns about potential rare side effects, AstraZeneca emphasised the vaccine's overall safety profile. The company underscored the stringent standards of regulatory authorities to ensure the safe use of medicines, including vaccines. AstraZeneca highlighted the extensive clinical trial data and real-world evidence consistently supporting the safety and efficacy of the vaccine.
Concerns raised over Covishield vaccine safety in India's apex court
A plea has been filed seeking setting up of an expert medical panel to study and assess the possible risk factors associated with the Astrazeneca's Covishield vaccine, which was one of two vaccines administered in India against Covid-19. Advocate Vishal Tiwari in his fresh application said that AstraZeneca had accepted a link between the vaccine and Thrombosis with Thrombocytopenia Syndrome (TTS).
Covishield vaccine: Plea filed in SC seeking formation of expert panel to study side-effects, risk factors
A petition filed in the Supreme Court seeks the formation of a medical panel from AIIMS, Delhi to study Covishield's side effects. It demands supervision by a retired SC judge and urges the government to establish a compensation system for severe disabilities or deaths caused by the vaccine during the pandemic
Covishield Vaccine: Bereaved parents to take Serum Institute of India to Court following AstraZeneca's rare side effect admission
Covishield Vaccine Case: The parents of a woman allegedly deceased after receiving the Covishield vaccine plan to file a case against the Serum Institute of India (SII). This decision follows AstraZeneca's acknowledgment in court that their Covid shot can cause a rare side effect, providing hope for the parents in seeking justice. AstraZeneca faces a class-action lawsuit over allegations that its vaccine, developed with the University of Oxford, led to deaths and serious injuries, including thrombosis with thrombocytopenia syndrome (TTS), characterized by blood clots and low platelet count.
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