You are here: Home » Current Affairs » News » National
Business Standard

Top headlines: RBI Dy Guv seeks strict norms for NBFCs, Biden gains ground

From Joe Biden slowly chipping away at Trump's lead in key US states to Gadkari asking automakers to cut EV costs, Business Standard brings you the top headlines of the day

2020 US elections | NBFCs | Electric Vehicles

BS Web Team  |  New Delhi 

US election
Neither candidate has reached the 270 Electoral College votes needed to win the White House.

RBI Dy Governor Rao calls for tighter regulations for large NBFCs

Newly-appointed deputy governor M Rajeshwar Rao said on Friday larger non-banking finance companies (NBFC) should be regulated as strictly as banks in order to preserve financial stability, at the same time letting the other enjoy the light-touch regulation for the sector. The sector can expect to witness a graded regulatory framework for "calibrated in relation to their contribution to systemic significance.” This may include having a relook on the regulation of microfinance institutions, and curtailing the regulatory arbitrage enjoyed by certain that are neither too big to cause systemic instability, nor small enough to be ignored. Read More...

Biden gains ground in tense US polls as Trump pushes legal offensive

President Donald Trump is testing how far he can go in using the trappings of presidential power to undermine confidence in this week's election against Joe Biden, as the Democrat gained ground in tight contests in some key battleground states. With his pathway to re-election appearing to shrink, Trump on Thursday advanced unsupported accusations of voter fraud to falsely argue that his rival was trying to seize power. Read More...

Cut EV cost, forgo profit initially to capture mkt: Gadkari to automakers

Asserting that India has full potential to emerge as a global hub for by 2025, Union Minister on Friday asked automobile manufacturers to reduce cost and forego profit initially to capture market and fuel growth. Once the market picks up there will not be any looking back, Road Transport and Highways and MSMEs Minister Gadkari said, promising all support to manufacturers in the initiative aimed at cutting India's huge import costs of crude and arresting pollution. Read More...

WhatsApp permit, Ambani deal: Facebook racks up major India wins

Facebook Inc., which was struggling for years to win a permit to operate its WhatsApp payments service in India, finally got approval for the roll-out, marking a breakthrough year for the tech giant that also saw it partnering billionaire Mukesh Ambani to expand in the world’s biggest open technology market. can go live using the homegrown, multibank Unified Payments Interface, its operator the Payments Corporation of India said in a statement Thursday. Read More...

will ban the use of during Deepavali: CM Yediyurappa

Chief Minister B S Yediyurappa on Friday said the state government will be issuing an order banning the use of during Deepavali, due to prevailing COVID-19 pandemic situation. "We have discussed it (cracker ban), we are taking a decision to ban the use of during Deepavali..the government will soon be issuing an order to this effect," Yediyurappa said. Read More...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 06 2020. 17:01 IST