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PM Narendra Modi in the global investor meet urges top investors and CEOs to invest in Indian Market as the country offers great returns and business. He asked to invest in infrastructure and manufacturing sector as the economy shows signs of recovery.
- The global messaging application WhatsApp has finally got the permission to roll out UPI services in it’s application at present Google Pay, Paytm and PhonePenare some of the market capturers at the moment making WhatsApp as one of its competition.
- The new Gland Pharma IPO is all set to open it’s subscription from 9th November until 12th November. The price range for each share is in between Rs 1490-1500. This IPO is said to be country largest after SBI card and payment services.
- Government announced special guidelines for BPO and IT enabled services to reduce compliance burden on the industries and the other service providers to create friendly routine for work from home and work from anywhere people.
- The Public Investment Fund of Saudi Arabia is said to have made an investment of Rs 9555 Cr in Reliance Retail Venture Ltd for an stake of 2.04%, making the stakes total sold to 8.22%.
- Reserve Bank has come out with a Co-Lending Model scheme, which will provide flexibility to lending institutions, under the scheme the banks are allowed to co-lend to NBFCs and improve the flow of credits to underserved and as well to deserved sectors of the country.
- Housing Sales are predicted to drop by 35-40 % in the ongoing fiscal year, the sales saw some green shots in second quarter of FY2021 after sales in top 8 cities were coming back on track.
- As per a white paper by Hyderabad Software Enterprises Association, a slowdown was expected in the IT sector due to COVID-19 instead there was a rise in industry by 10 percent for the FY2021 yet this involves uncertainty as many countries are experiencing second and third wave of the COVID-19.
- Employment rate has seen a fall in month of October after the country opened from a Nationwide lockdown to curb the spread of the virus since May. A fall of 5.5 lac was reported in employment when the demand for employment has seen a rise after market opened. October being festival month and elections being held in few places still couldn’t meet the targets.
- Full time jobs have accounted as far as 95% of placements with job openings rising from 2000 in September to 3000 in October. A sharp rise of almost 56 % was seen by the companies because of considering work from home as their permanent feature.
- Under the scheme, Banks have started to roll out the compound interest amount which was collected during the moratorium period from the borrowers. After the amount has been disbursed, the lending institutions will claim the reimbursement from the government.
- Modi Government has approved a proposal of Hydropower project on the river Satluj, the government is supposed to have an investment of Rs 1810 Cr.which will generate 750.28 millions of unit electricity annually.
- Haryana Government has passed a bill to give 75% of reservation to job seekers in private sector, the quota is for local people having a job with salary less than Rs 50,000 per month in private sector.
- Bahart Biotech’s coronavirus vaccine COVAXIN can be launched as early as February 2021. The vaccine is at the last stage of the trials which are scheduled for this months end almost 25,000 people are likely to participate in the trail. The vaccine has been reported safe so far and is proven to be of great efficiency, but nothing can be strongly concluded until phase 3 trails are studied.
- Another COVID-19 vaccine being developed by Oxford University and British Firm AstraZeneca is likely to be rolled out by January 2021. The vaccine at currently is going under phase 2 and 3 trials in India and will be launched as Covishield in Indian market