Top headlines: PM Modi receives Covid jab; ATF price raised by a steep 6.5%

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Modi receives his 1st Covid vaccine dose at AIIMS

Prime Minister Narendra Modi received the first dose of Covid vaccine at All India Institute of Medical Sciences (AIIMS) in New Delhi on Monday, leading the country in the third phase of the inoculation drive as a massive chunk of population aged above 60 and those above 45 with comorbidities prepare to take the shots. Modi was administered Bharat Biotech's Covaxin. "Took my first dose of the COVID-19 vaccine at AIIMS," he informed on Twitter. At the time of the vaccination, Modi wore a "gamchha" (scarf) from Assam, which is regarded as a symbol of blessings of women from Assam. The Prime Minister has been seen wearing it on many occasions. The vaccine dose was administered by a nurse from Puducherry P. Niveda, who was assisted by another nurse from Kerala Rosamma Anil. Read more

SBI reduces home loan rates to 6.7%

The country's largest lender State Bank of India on Monday said it has reduced interest rates on home loans by up to 10 basis points (bps) and is offering loans starting from 6.70 per cent rate. The new rates are based on loan amount and CIBIL score of the borrower, and are available till March 31, 2021, according to a statement. The bank said the home loan interest rates will start from 6.70 per cent for loans up to Rs 75 lakh and 6.75 per cent for loans in the range of Rs 75 lakh-Rs 5 crore. Read more

ATF price up by steep 6.5%

Jet fuel prices on Monday were hiked by a steep 6.5 per cent on the back of a rally in international oil prices. Aviation turbine fuel or ATF price was hiked by Rs 3,663 per kilolitre, or 6.5 per cent, to Rs 59,400.91 per kl in the national capital, according to a price notification of state-owned fuel retailers. This is the third increase in jet fuel prices since February. Rates were increased by 3.6 per cent on February 16, and by Rs 3,246.75 per kl on February 1. Read more

EU audits Serum as AstraZeneca looks to boost supplies

Europe's drug regulator is auditing the manufacturing site of the Serum Institute of India (SII), a source with knowledge of the matter said, a necessary step before AstraZeneca's COVID-19 vaccine made there can be exported to the bloc. SII, the world's largest vaccine manufacturer, is producing the AstraZeneca vaccine, developed with Oxford University, for dozens of poor and middle-income countries. The precise reason for the audit of SII's manufacturing processes and facilities was not clear, but a green light would mean the drug could be exported to the European Union, the source said, declining to be identified because the review is confidential. Read more

European stocks rebound as bond markets stabilise

European stocks recovered on Monday after bond markets stabilized following a sharp selloff last week, while sentiment was boosted by heightened optimism over global COVID-19 vaccination programmes and a $1.9 trillion US stimulus package. The pan-regional STOXX 600 index rose 1.7%, tracking strong gains in Asian markets, while data showed manufacturing activity picked up pace in major euro zone economies in February. The European equities benchmark fell to a near one-month low on Friday as investors grew fearful that rising inflation due to another large U.S. stimulus package and the re-opening of the global economy could drive major central banks to tighten monetary policy. Read more