BUSINESS
Axis Bank offers term deposits without penalty on premature closure
The objective of this customer-friendly feature is to inculcate and encourage retail customers to go for long-term savings without worrying about the sudden need for liquidity, the bank said in a statement.
Domestic funds see outflows after 5 years
According to a report by Motilal Oswal Institutional Equities, in calendar year 2020, while FIIs inflows were at a record highs, outflows by DIIs were at fresh highs too. FII inflows for CY20 were strong at $23.4 billion – the highest since CY12. However, DIIs recorded their first outflows (-$4.9 billion) after five years of inflows.
MassMutual opens centre in Hyderabad, plans Rs 1,000 crore investment
MassMutual's investment plans are over Rs 1,000 crore in GCC based on projections, according to a statement by the Telangana government. The GCC, the first centre for MassMutual outside of the United States, has come up on about 1,50,000 square feet leased space at Vamsiram's BSR IT SEZ in Financial.
Govt proposes pre-packaged insolvency resolution framework under IBC
The ministry has sought comments on the recommendations of sub-committee of the Insolvency Law Committee by January 22. Government constituted the sub-committee in June last year to prepare a detailed scheme for implementing pre-pack and prearranged insolvency resolution process.
Reliance Capital Limited debenture holders pave way for asset monetisation
Reliance Capital had commenced its asset monetisation process - to unlock value of its underlying businesses which targets to make RCAP debt free. JM Financial Services Limited and SBI Capital Markets Limited ran an independent and transparent asset monetizsation process.
Airtel appoints Pradipt Kapoor as Chief Information Officer
Kapoor's most recent assignment was at A.P. Moller - Maersk where he was Global Head of Products and Solutions Engineering. Prior to this, he spent over a decade at SITA Inc (U.K.) running Products Engineering. He has also had formative experience as an entrepreneur, said the statement.
Share Market: Sensex trades over 49,000 on global cues, Q3 earnings
The rise in domestic indices came on the back of a positive trend in the global markets along with robust Q3 earnings. Healthy buying was witnessed in IT stocks, which surged on the back of strong third quarter of the Tata Consultancy Services. IT major TCS on Friday reported a rise of 7.2 per cent in its consolidated net profit for the third quarter of FY21.
China recovering fast, 8% growth likely in 2021: IMF
However, the recovery is still relying mostly on public support. Private investment has strengthened recently, but consumption is lagging. Growth rates and consumption recently have been higher, but the level of consumption compared to its pre-crisis trend is still rather low
Indian economy showing signs of V-shaped recovery in 2021: Assocham
"The high-frequency data is a strong pointer to a V-shaped recovery in 2021 with the seeds bursting into green shoots over the last two months of 2020 itself," Assocham Secretary General Deepak Sood said.
Share Market: Sensex hits 49,000 for the first time, IT stocks zoom
Healthy buying was witnessed in the IT, telecom and FMCG stocks. Around 9.34 a.m., Sensex was trading at 49,211.61, higher by 429.10 points or 0.88 per cent from its previous close of 48,782.51. It opened at 49,252.31 and touched a high of 49,260.21 and a low of 49,015.22 points.
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