The Reserve Bank of India (RBI) is currently working on a phased implementation strategy for a central bank digital currency (CBDC) and examining use cases to ensure that there is little or no disruption, deputy governor T. Rabi Sankar said on Thursday.
According to Sankar, some key issues are whether CBDCs should be only used in retail payments or in wholesale payments too; whether it should be a distributed ledger or a centralized ledger; whether it should be issued directly by the RBI or through banks and the degree of anonymity such a currency would provide.
“However, conducting pilots in…
Domestic stocks closed over 1% higher on Thursday, their biggest single-day gain in nearly two months, supported by a global rally in equities.
The BSE Sensex rose 638.70 points, or 1.22%, to 52,837.21, while the Nifty gained 1.23% to close at 15,824.05.
Shares in other Asia-Pacific markets were mostly higher as well, with Hong Kong’s Hang Seng index rising 1.83% and South Korea’s Kospi 1.07%.
According to Milind Muchhala, executive director at global investment bank Julius Baer, global market cues and a decent start to the earnings season cheered investors.
“Markets are clearly rewarding stocks or sectors where the earnings…
Mississippi’s attorney general asked the Supreme Court to overturn the landmark 1973 Roe v. Wade ruling when it decides a challenge to a Mississippi law that bans most abortions after 15 weeks of pregnancy, setting up what could be a historic decision by the court on the future of abortion rights in the United States.
A historic decision on the future of abortion rights in the U.S. could soon come from the Supreme … [+] Court.
The state argued in a brief filed Thursday that Roe v. …
The Competition Commission of India (CCI) has issued a show-cause notice to Amazon.com Inc., seeking to know why certain facts were not disclosed about its 2019 purchase of a 49% stake in a Future Group entity.
The competition watchdog’s notice comes as Amazon, armed with a favourable arbitration award, is fighting a legal battle in India and overseas to restrain Future Retail Ltd from selling its assets to rival Reliance Retail Ltd for ₹24,713 crore.
Amazon claims the terms of its 2019 stake purchase in Future Coupons (Pvt.) Ltd prohibits the sale. The Supreme Court is hearing the matter. In…
Instagram head Adam Mosseri announced Thursday that Instagram is testing a feature that would allow users to temporarily “lock down” their accounts when they’re being hit with abusive comments, after multiple Black soccer players for the English national team were harassed with racist comments on the platform after their loss in the European Football Championship finals.
SPAIN — 2021/03/29: In this photo illustration, the Instagram app in App Store seen displayed on a … [+] smartphone screen and a Instagram logo in the background. (Photo Illustration by Thiago Prudencio/SOPA Images/LightRocket via Getty Images)
SOPA Images/LightRocket via Getty Images
Star Health and Allied Insurance Co. Ltd, backed by a group of investors including Rakesh Jhunjhunwala and Westbridge Capital, will aim to raise as much as ₹7,500 crore through an initial public offering (IPO), a person aware of the plans said, requesting anonymity.
Star Health on Thursday filed a draft prospectus with the Securities Exchange Board of India (Sebi) for the share sale. A successful IPO will make the health insurer the fourth private sector insurance firm to list on the domestic stock exchanges. The IPO will comprise a fresh issue of ₹2,000 crore and an offer for sale (OFS)…
NEW ORLEANS — SEPTEMBER 25: An interior view of the field showing the New Orleans Saints logo, a … [+] fleur-de-lis, in the newly refurbished Superdome prior to the Monday Night Football game between the Atlanta Falcons and the New Orleans Saints on September 25, 2006 at the Superdome in New Orleans, Louisiana. Tonight’s game marks the first time since Hurricane Katrina struck last August, that the Superdome, which served as a temporary shelter to thousands of stranded victims in the wake of Katrina, has played host to an NFL game. (Photo by Ronald Martinez/Getty Images)
A drubbing in world equity markets and a huge flight to safety into U.S. Treasuries this week suggests investors now doubt that a much-anticipated return to post-COVID normality is feasible any time soon.
Data from the United States and China, which account for more than half of world growth, suggests a slowdown in the recent blistering pace of the global economy alongside rising prices for all manner of goods and raw materials.
Coinciding with a resurgence in the Delta variant of COVID-19, markets may be sending alarm signals about the global economic outlook, Deutsche Bank chief FX strategist George Saravelos…
Terry Francona will soon break a Cleveland Indians record that has stood for 70 years: most wins by … [+] an Indians manager. (AP Photo)
Since the franchise became a charter member of the American League in 1901, the Cleveland Indians have had 42 managers. Sometime in the coming days Terry John Francona will have won more games than all of them.
Now in his ninth year as Cleveland’s manager, Francona will go into tonight’s game against Tampa Bay with a record of 721–564. …
The government expects to receive financial bids for Air India Ltd by September 15, junior civil aviation minister V.K. Singh said on Thursday.
“The last date for the submission of EoI (expression of interest) was 14.12.2020. Multiple EoIs were received by the transaction adviser (EY),” Singh said in a written response to queries in Parliament.
He said the request for proposal along with draft share purchase agreement has been shared with qualified interested bidders by the transaction adviser on March 30. “The financial bids are likely to be received by 15.09.2021,” he said. …