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Morning Digest | Centre seeks six more months to frame CAA rules, Himachal Pradesh to get new Ministers, and more

Morning Digest | Centre seeks six more months to frame CAA rules, Himachal Pradesh to get new Ministers, and more

The Hindu
Sunday, January 08, 2023 02:33:58 AM UTC

Here’s a select list of stories to read before you start your day

Centre seeks six more months to frame Citizenship Amendment Act rules

The Union Home Ministry has sought another extension of six months to frame the rules of the Citizenship (Amendment) Act, 2019 (CAA), without which it cannot be implemented. This is the seventh such extension sought by the Ministry.

Key socio-political outfits in Ladakh reject Centre’s plan, harden stand on Statehood

Ladakh’s two top socio-political bodies, the Leh Apex Body (LAB) and Kargil Democratic Alliance (KDA), on Saturday, rejected the Union Home Ministry’s high-powered committee for the protection of land and jobs for the people of the Union Territory. The bodies hardened their stand on four key points, which include granting Statehood and special status under the Sixth Schedule of Constitution.

Over 67 lakh voters have downloaded e­-voter card, says RTI reply

Over 67 lakh voters have downloaded a digital voter ID, known as the electronic Electoral Photo ID Card (E-EPIC), from the time the document was made available until December 23, 2022, the Election Commission of India (ECI) said on Monday in a Right to Information (RTI) response obtained by  The Hindu. Along with e-PAN and e-Aadhaar, the E-EPIC is one of the few generally accepted identity documents that can be downloaded as a legally valid PDF file.

NIA files charge sheet in Kolkata’s Mominpur clashes

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Banking sector remains resilient, stable, says RBI in the backdrop of Adani stress

While the RBI did not name the conglomerate, the recent rout in Adani Group shares has triggered widespread concern about the group’s level of indebtedness and its ability to meet its debt obligations.

Nirmala Sitharaman to brief BJP MPs on budget high points

Ministers will then start on an outreach programme to spread the word in States

Putting Budget 2023 into perspective

The Union Budget assumes a nominal GDP growth of 10.5% in 2023-24, which implies a projected inflation rate of just 4%, given the economic survey’s baseline real GDP growth projection of 6.5%. How does this fare against the figures of the previous governments?

NSE, BSE put three Adani Group companies under short-term additional surveillance measure

Market experts believe that putting in this framework means intra-day trading would require 100% upfront margin.

Roundup | How much has the Adani group lost since the Hindenburg report?

The stock prices of seven Adani group companies have lost significant value with Adani Total Gas shares taking the biggest plunge of 56% since January 24

Malaysia expects 5-6 lakh Indian tourists in 2023

Air fare rationalisation and route stabilisation for India-Malaysia flights will push tourist arrivals to pre-pandemic levels, says Malaysia Tourism Promotion Board

TVS Motor invests $95,00,000 in OEM start-up Ion Mobility

TVS Motor (Singapore) Pte. Ltd., a wholly owned subsidiary of TVS Motor Company, has made a strategi

Many EPF account holders still await interest credit for 2021-22

In October 2022, Finance Minister Nirmala Sitharaman had attributed the delay to a software upgrade and assured that credits will be visible soon

Key takeaways from Union Budget 2023-24 in charts

Finance Minister Nirmala Sitharaman presented her fifth Budget speech in Parliament on Wednesday

Markets end on mixed note; Sensex climbs over 224 points, Nifty dips 6 points

HDFC, Tata Steel, Bajaj Finance, NTPC, Power Grid and HDFC Bank were the major laggards.

Parliament Budget Session | Airlines faced 546 technical snags during aircraft operations in 2022: Centre

A total of 1,090 snags were faced by airlines in the last two years

Adani Group faced margin call on $1.1 billion loan before repaying in full

Adani Group also plans to prepay a $500 million loan due next month to a group of banks that includes Barclays, Standard Chartered and Deutsche Bank

Sensex rises over 140 points to close at 60,806; Nifty tests 17,900

Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended with gains, while Tokyo settled in the red.

MSCI reviews Adani Group securities amid sell-off crisis

Seven key Adani companies have lost at least a combined $110 billion in value after Hindenburg Research alleged improper use of offshore tax havens and stock manipulation by the conglomerate

FM Nirmala Sitharaman urges IMF to develop globally coordinated approach to crypto asset regulations

The Finance Minister held a virtual conversation with the IMF MD to discuss the upcoming G20 Finance Ministers and Central Bank Governors meeting, scheduled to be held in Bengaluru later this month.

SC agrees to hear Friday plea seeking probe into Hindenburg’s report on Adani group

In his plea, Advocate Vishal Tiwari has said the petition depicts the "drastic condition and fate of people" when there is a situation of share fall in the securities market due to various reasons

Why Pakistan’s economy is collapsing? Explained in charts Premium

Widespread blackouts, runaway inflation, depreciating currency and plummeting foreign exchange reserves plague Pakistan

Rupee falls 12 paise to 82.66 against U.S. dollar in early trade

At the interbank foreign exchange, the domestic unit opened weak at 82.59 against the dollar, then fell to 82.66, registering a decline of 12 paise over its last close.

Zoom to shed about 1,300 jobs as pandemic-fuelled demand slows

Chief Executive Eric Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus

Regulations strictly followed while making investments: LIC tells govt amid concerns over exposure to Adani Group cos

Concerns have also been raised in certain quarters about LIC’s investments in Adani Group companies

FM signals readiness to review 28% GST on cement

Govt. will cope with whatever fresh shocks that may emerge due to global developments, says Sitharaman; Minister cites example of manner in which Centre coped with unexpected jump in fertiliser prices in 2021

Ramco Cements Q3 net dips 19% as input costs surge

Revenue from operations rose to ₹1,991 crore from ₹1,541 crore

Bharti Airtel Q3 net profit surges 91.5% to ₹1,588 cr

Total revenue rose nearly 20% year-on-year to ₹35,804 crore in the December quarter (Q3FY23) "backed by strong and consistent performance delivery across the portfolio"

Rupee gains 6 paise to end at 82.70 against U.S. dollar

Muted domestic equities, unabated foreign capital outflows and rising crude prices restricted the rupee's rise, forex dealers said

Declining core inflation limits need for further interest rate hikes by RBI: S&P Global Ratings

The policy rate now stands at 6.25%. The RBI's rate-setting panel - Monetary Policy Committee - will decide on the interest rate.

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