 "Top headlines: RBI mum on corporates in banks; Niti releases poverty index")
RBI keeps on hold suggestion to give bank licence to big businesses
The Reserve Bank of India (RBI) has not yet accepted a recommendation to allow industrial houses to float banks in the country and has kept the non-promoter shareholding capped at 10 per cent for individuals or non-financial institutions.
The internal working group, constituted on June 12 last year under the chairmanship of Prasanna Kumar Mohanty, director, central board of RBI, had suggested in its November 20 report that large corporate, or industrial houses should be allowed in banking after necessary amendments to the Banking Regulations Act. Read more
Bihar, Jharkhand, UP emerge as poorest states in India: Niti Aayog
Bihar, Jharkhand and Uttar Pradesh have emerged as the poorest states in India, according to Niti Aayog's Multidimensional Poverty Index (MPI).
As per the index, 51.91 per cent population of Bihar is poor, followed by 42.16 per cent in Jharkhand, 37.79 per cent in Uttar Pradesh. While Madhya Pradesh (36.65 per cent) has been placed fourth in the index, Meghalaya (32.67 per cent) is at the fifth spot. Read more
Black Friday: Sensex sinks 1,400 points. What's spooking the markets today?
It was truly a ‘Black Friday’ for the Indian markets that saw an across-the-board sell-off. The S&P BSE Sensex shaved-off over 1,400 points in intra-day deals. Its counterpart on the National Stock Exchange, the Nifty50 index, lost over 400 points. Read more
Tomato prices to remain elevated for two more months: Crisil Research
Wayward and excess rains have resulted in the ongoing spike in vegetable prices, and the cost of tomatoes will continue to be at elevated levels for two more months, Crisil Research said on Friday.
The situation in Karnataka, one of the major tomato growing regions, is so "grim" that the vegetable is being sent from Maharashtra's Nashik, it said, pointing to on-ground interactions. Read more
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%