Top Headlines: Only Covaxin for kids; billionaires' wealth now at $728 bn

Business Standard brings you the top headlines at this hour.

Children above 15 to get Bharat Biotech's Covaxin only, for now

As India’s adolescents queue up for their Covid shots on January 3, they have only one option available right now — Bharat Biotech-made Covaxin. Cadila Healthcare-developed deoxyribonucleic acid (DNA) vaccine ZyCoV-D — approved by the drug regulator for use in children aged 12 and above — will not be used right away. Read more
 

Billionaires' club has record 126 members; combined wealth is $728 bn now

A strong rally on Dalal Street over the past one and a half years and an unprecedented boom in IPOs have continued to swell the number of billionaire promoters in India. The number of promoters and businessmen with net worth of $1 billion (around Rs 7,500 crore) reached an all-time high of 126, up from 85 at the end of CY20. These billionaire promoters have a combined wealth of around $728 billion (around Rs 54.6 trillion). Read more
 

Budget 2022-23: Finance ministry turns tight-fisted for next fiscal year

No government department should ask for additional spending in the guise of a Budget proposal for the next fiscal year, the finance ministry has said. This has made the job of departments difficult because Budget proposals come with a financial outlay. These can be schemes or projects, but without a corresponding financial commitment, they become unworkable. Read more
 

Air India's return flight to Tatas may get delayed due to pending approvals

The handover of Air India to Tata Sons is unlikely to be completed in December, and may see some delay due to pending approvals and processes. The requirements for fulfilling condition precedents are yet to be fully met, after which the long stop date will be clear, an official said. Read more
 

Covid-19 vaccine stock-taking: Does India have enough to expand the drive?

India will begin to give a third shot to a section of its elderly population from January 10, besides opening up vaccination for children aged 15 and above. But do we have enough vaccine stockpiles in the country to support a seamless drive? A back of the envelope calculation shows that India has roughly over 680 million doses of Covid-19 vaccines consisting primarily of Covishield doses. Read more
 

Rakesh Jhunjhunwala, R K Damani approach RBI to acquire 10% in RBL Bank

Ace investors Rakesh Jhunjhunwala and D-Mart’s founder RK Damani have approached the Reserve Bank of India (RBI) to buy a 10 per cent stake in RBL Bank, according to a report by CNBC TV 18. According to the report, RBI is looking at the request. Read more