1. Bitcoin Price Falls Below $5,000 For First Time in 13 Months
The slide in cryptocurrencies accelerated, with Bitcoin prices piercing the $5,000 mark for the first time since October 2017, amid speculation that increased regulatory scrutiny will prompt issuers of initial coin offerings to liquidate holdings. Bitcoin declined as much as 9.1 percent to $4,958, falling for an eighth consecutive day in what is the longest string of losses on record for the 10-year-old digital token.
(Source: Live Mint)
2. RBI Strikes ‘Cordial Note’; Discusses Liquidity, Easing MSME Credit in High Profile Board Meet
The much awaited meeting of the full RBI Board, being watched keenly by the market, ended reportedly on a cordial note after nine grueling hours on Monday. In the high profile meeting, which came amid the differences between the government and the RBI spilling out in the open, the central bank decided to take measures to improve liquidity conditions, Reuters reported citing unidentified sources.
(Source: Financial Express)
3. Theresa May Promises Indian IT Firms Fair Post-Brexit Chance
British Prime Minister Theresa May on Monday vowed that Brexit would level the playing field for migrant workers in the UK, with migrants from the European Union (EU) no longer be able to jump the queue ahead of those from countries like India. Addressing the Confederation of British Industry (CBI) annual conference in London, she said the country’s post-Brexit immigration policy will be based on skills and talent rather than which country the immigrant comes from.
(Source: PTI)
4. RBI And Government Find Some Common Ground, Experts Say
The Reserve Bank of India and the central government have managed to meet at a middle ground on some of the lesser contentious issues even if it meant delaying few key decisions, experts told BloombergQuint.
(Source: BloombergQuint)
5. SC Rejects Dalmia's Plea, Allows UltraTech to Take Over Binani Cement
The Supreme Court (SC) on Monday upheld the National Company Law Appellate Tribunal’s (NCLAT’s) order approving UltraTech Cement’s revised bid for stressed asset Binani Cement, and dismissed a plea by the Dalmia Bharat-led consortium.
(Source: Business Standard)
6. 3-Day Bank Holiday This Week in Many Cities. Check The Dates
In most states of India, commercial banks will be closed for business for three days this week. The bank holidays are on account of two festivals — Eid-e-Milad-ul-Nabi and Guru Nanak Jayanti — and fourth Saturday, making it an extended weekend for bank employees. In cities like New Delhi, Mumbai, Hyderabad and Bengaluru this Wednesday, November 21, is a bank holiday due to Eid-e-Milad (Prophet Muhammad’s birthday) under the Negotiable Instruments Act. And on Friday, November 23, banks in several cities like Mumbai, New Delhi, Chandigarh and Hyderabad will be closed on account of Guru Nanak Jayanti.
(Source: Live Mint)
7. Delhi Runway Closure, Seasonal Demand Push Up Air Fares
Temporary closure of one of the runways at the Indira Gandhi International Airport in New Delhi together with seasonal demand have led to a surge in spot air fares to and from Delhi.
(Source: Live Mint)
8. Citigroup Sees US Dollar Topping Out in 2019
The dollar will weaken next year as the economic boost from fiscal policy wanes and rising interest rates start to hurt, according to Citigroup Inc.
(Source: BloombergQuint)
9. Saubhagya: Electrification Speed Needs to Rise to Meet Target
Even though more than twp crore households have been connected under the Saubhagya scheme, which aims to achieve 100 percent household electrification within December 2018, the speed of electrification needs to be increased by 72 percent if the deadline is to be met.
(Source: Financial Express)
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