Top headlines: India works on multi-variant vax; Tesla plans India sales

Business Standard brings you the top headlines of the day

India is working to develop an umbrella Covid-19 vaccine, just like the multi-variant flu shots in the market. Tesla is in talks with the Indian government to set up fully-owned retail outlets.

Govt partnering pharma industry to develop multi-variant Covid-19 vax

India is working to develop an umbrella Covid-19 vaccine, just like the multi-variant flu shots in the market. Government institutions, along with the pharmaceutical industry, are examining if a 'cocktail' approach to making a multi-variant Covid-19 vaccine works against multiple strains of the ever-mutating virus, a senior government official told Business Standard. Read more...

Electric carmaker Tesla plans fully-owned retail outlets in India

Palo Alto-based electric carmaker Tesla has initiated talks with the government on the modalities of setting up fully-owned retail outlets. The company needs to comply with the foreign direct investment (FDI) guidelines related to single-brand retail, including local sourcing norms, to sell directly in India. Read more...

Why RBI is concerned about Equitas SFB's new scheme for Google Pay users

Last week, Equitas Small Finance Bank (SFB) launched a unique fixed deposit scheme that can be booked through the Google Pay app in an instant, much like buying a shirt from an online marketplace. It is a welcome product in a world moving to the sachetisation of financial products. Read more...

LIC IPO bankers quote base fee of Rs 1 crore: Check details here

Investment bankers have quoted a fee of Rs 1 crore — the minimum floor set by the government — for handling the share sale of the Life Insurance Corporation of India (LIC), said four people with knowledge of the development. Read more...

Indian exporters allege global shipping companies are forming cartels

A crisis is staring exporters in the face with high freight rates and few ships and containers. These two factors are expected to spoil the upcoming Christmas season. Read more..