 "News digest: INS Kiltan joins Navy, wholesale inflation falls, and more")
Markets sparkle ahead of Diwali as Sensex, Nifty gain 0.6% each
The Diwali week started on a positive note with the benchmark Sensex and Nifty indices ending at new record highs. Positive global markets and the ebbing of foreign investor selling saw the benchmark indices gain 0.6 per cent and the rupee appreciate 0.3 per cent against the dollar. Read more
Like all its predecessors, INS Kiltan joins Navy with major vulnerabilities
Like numerous Indian warships before it, the navy’s newest anti-submarine warfare (ASW) corvette, INS Kiltan, joined the fleet on Monday without equipment crucial for discharging its primary role – detecting and destroying enemy submarines. Read more
Wholesale inflation falls to 2.6% in September
The Wholesale Price Index (WPI)-based inflation data released on Monday provided yet another indicator of improving macroeconomic parameters.
Wholesale inflation fell to 2.60 per cent in September from 3.24 per cent in August due to a subdued rate of price rise in food items, particularly vegetables. Read more
RBI governor calls for better access to currency swap lines
The governor of the Reserve Bank of India on Sunday called on major central banks to extend their network of currency swap lines deep into emerging markets, saying a type of “virtual apartheid” in the provision of foreign currencies hampers efforts to fight financial instability. Read more
Five suitors put in bids for stake in JP Power
Five investors have put in their bids to buy at least a 30 per cent stake in debt-ridden Jaiprakash Power Ventures (JPVL), according to sources close to the development. While 11 players had initially evinced interest in picking up a stake in JPVL, that number has now shrunk to five. Read more
Four months into GST, transporters yet to see 30% reduction in travel time
Various claims have been made on reduction in the transit time of trucks in delivering goods. A reduction of as much as 30 per cent in the travel time of trucks has been indicated by the government and credit for this has gone to the introduction of the GST and the consequent removal of interstate checkposts. Read more
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