Top headlines: India steps up tests for Covid variant, cryptos change plan

The Centre may continue to hold at least 26 per cent stake in PSBs. More on that in top headlines this morning.

India asked its states and cities to step up testing of international travellers after a new strain of Covid-19 was found was found to be driving up infections in South Africa. More on that story in our top headlines.

Centre may continue to hold at least 26% stake in public sector banks

The Centre may continue to hold at least 26 per cent stake in public sector banks (PSBs), which are being considered for privatisation, sources said. Currently, the government is looking at privatising two banks and the government has to hold 51 per cent in PSBs at all times, according to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Read more

Centre warns of new Covid-19 variant, issues fresh advisory to states

The Centre on Thursday asked all states and Union Territories to conduct rigorous screening and testing of all international travellers coming from or transiting through South Africa, Hong Kong and Botswana, where a new Covid-19 variant has been reported. Multiple cases of a Covid-19 variant B.1.1529 have been reported in Botswana (3 cases), South Africa (6) and Honk Kong (1 case), the government said in the letter. Read more

Cryptocurrency firms mull moving offshore amid ban buzz in India

The buzz around the ban on cryptocurrencies in India has created an uncertain environment for crypto exchanges. Ecosystem players working in spaces like non-fungible tokens and blockchain too are in a tizzy. Many founders are planning to move their businesses to either the UAE or Singapore. Read more

Telecom companies likely to ring in 5G services on Independence Day

The government is engaged in talks with telecom firms for a launch of commercial 5G services in some cities by Independence Day and has assured them that spectrum auction will take place in April-May, providing them with a three to four-month window for the rollout. Read more

Future Retail guilty of financial irregularities, says Amazon

US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Read more