Issue: 1367
· LIC Q2 net profit rises 20%
to Rs 12,076 crore on higher premium income.
· NPCI says MDR charge imposed
to save UPI ecosystem from turning ouroboric.
· Rupee hits five-day high at
94.35 as crude slump and weak Dollar drive rally.
· UIDAI onboards 300 Offline
Verification Seeking Entities (OVSEs), Expanding the Aadhaar Offline
Verification Ecosystem.
· AUM under NPS could grow to Rs.100
lakh cr by 2040 from the current Rs.18 lakh cr, says PFRDA Chief Ramann.
· Gold loan delinquencies
doubled in five months amid sharp portfolio growth.
· Barclays to invest Rs.1,500
crore in India, boost banking businesses.
FIIs stage biggest single-day buying in over a year, net purchase
Rs 15,000 crore on November 5: Foreign institutional investors (FIIs) staged
their biggest single-day buying spree in Indian equities in more than a year on
November 5, with net purchases of Rs 14,974.68 crore, according to provisional
exchange data. The buying marked a sharp
reversal from the sustained foreign outflows seen through much of 2026, even as
domestic institutional investors (DIIs) turned net sellers through November so
far. FIIs bought shares worth Rs 31,797.86 crore and sold Rs 16,823.18 crore
across the NSE, BSE and MSEI, taking their net purchases to nearly Rs 15,000
crore in a single session. DIIs, in contrast, recorded net sales of Rs
10,444.54 crore.
(Moneycontrol)
UP got maximum out of Rs.1.09 lakh crore paid as tax devolution
instalment in advance: Uttar Pradesh got the highest
share out of over Rs.1.09 lakh crore paid as part of regular instalment of tax
devolution to State governments paid in advance by the Centre. The amount was released
on Thursday by the Finance Ministry. “In view of upcoming festive season and to
enable states to accelerate capital spending and finance their development/
welfare related expenditure, the Centre releases regular tax devolution of Rs.1,09,019
crore to State governments in advance,” the Ministry said. The monthly
instalment, normally released on November 10, has been advanced and released on
November 5. Currently, 41 per cent of taxes collected by the Centre are
devolved in 14 instalments among States during a fiscal year. Among the States,
Uttar Pradesh received the largest share at Rs.19,208 crore, followed by Bihar
with Rs.10,845 crore and Madhya Pradesh with Rs.8,010 crore..
(Business Line)
Sensex surges 2,009 pts, Nifty ends at 24,537; investors add Rs.7
trn to wealth: The benchmark indices surged and extended
the rally to the fifth session as oil prices fell significantly on hopes for a
faster end to West-Asia conflict post Democrats’ win in the US midterm. The
Sensex rose 2,008.61 points or 2.6 per cent to 79,310.01, and the Nifty50 was
up 576 points or 2.4 per cent at 24,536.60. The market-cap of all BSE-listed
companies rose Rs.7.03 trillion to Rs.501.45 trillion, compared to Rs.494.42
trillion at the close of Wednesday’s session..
(Business Standard)
IDBI Bank sale: Reserve price never refixed after first bids,
says DIPAM chief; restarting process would have been futile: The government neither increased nor
decreased the reserve price for the IDBI Bank after the first round of bidding,
nor was it subsequently refixed, Department of Investment and Public Asset
Management (DIPAM) Secretary Arunish Chawla said in an exclusive interview with
Moneycontrol, addressing questions surrounding the strategic sale of the bank. "The reserve price was neither increased
nor decreased nor refixed. It became functus officio with the end of the first
round," Chawla said, defending the government's decision to proceed with a
second round of best offer bids after the initial offers failed to secure
approval.
(Moneycontrol)
India’s gold loan market nearly triples to Rs.22.5 lakh crore in
three years: India’s
gold loan market nearly triples in three years; outstanding balances reach Rs.22.5
lakh crore India’s gold loan market expanded nearly three times in the last
three years, with outstanding balances reaching Rs.22.5 lakh crore as of August
2026 and origination values growing faster than loan volumes, according to a
TransUnion CIBIL report. The
number of active borrowers rose to 5.5 crore (21 per cent of India’s
credit-active consumers), with an average balance of Rs.4.1 lakh (Rs.2.1 lakh
three years ago) per borrower, as growth shifted to higher ticket-sized loans,
per the report “Lending Unlocked: Gold Loans”.
(Business Line)
Recovery of stressed assets: CaaS it, ARCs tell lenders: Collection-as-a-Service (CaaS) is expected
to emerge as a ‘win-win’ for Asset Reconstruction Companies (ARCs) and lenders
in tackling stressed loans in the financial system, according to industry
experts. This strategy helps banks with recovery while providing a fee-based
service for ARCs. Through CaaS, ARCs get to know firsthand about the
recoverability of the assets assigned to them and are even encouraged to make
offers to lenders to buy them down the line. This can also help Banks and NBFCs
direct their resources to generating new business rather than being bogged down
in a drawn-out recovery process.
(Business Line)
Central cyber security agency warns banks, fintech firms of
AI-powered frauds: Central cyber security agency
I4C has warned banks, non-banking financial companies (NBFCs) and fintech firms
about a growing trend of financially motivated cyberattacks involving
artificial intelligence agents, which can enable hackers to compromise systems
and execute fraudulent transactions at machine speed. The National Cybercrime
Threat Analysis Unit (NCTAU) of the Indian Cyber Crime Coordination Centre
(I4C) has also flagged that attackers delete records and attempt to conceal
their activities, adding multiple layers of complexity in the investigation
process.
(Business Line)
RBI proposes Rs.100 crore limit on bank loans for agri
infrastructure: The Reserve Bank on Thursday proposed that
loans for agricultural infrastructure will be subject to an aggregate
sanctioned limit of Rs 100 crore per borrower from the banking system. As part of the ongoing effort towards
consolidation of various instructions, the Reserve Bank of India said it has
undertaken a review of the extant guidelines relating to Priority Sector
Lending (PSL) and proposes to issue directions on the subject for different
regulated entities, including commercial banks and regional rural banks. A
draft direction on commercial banks proposed an aggregate loan limit of Rs 4
crore per borrowing entity for crop loans, medium and long-term loans for
agriculture and allied activities, as well as loans for pre- and post-harvest
activities.
(Business Standard)
Nasdaq posts biggest daily drop in 19 months on fears of AI
regulations: The Nasdaq Composite ended sharply lower on Thursday, notching its
deepest one-day drop in 19 months and confirming it was in a correction, as
chipmakers sank on fears of tougher AI regulation after Democrats won control
of the US Congress. Democratic wins on
Tuesday, including in states where opposition to new data centers has mounted,
fueled concerns that tighter regulation could slow the AI infrastructure
buildout that has helped lift stocks to record highs this year.
(Moneycontrol)
Government includes GPUs and related data centre equipment under
IFSCA framework: Graphics Processing Units (GPUs) and related data
centre equipment will now be recognised as financial products under the
International Financial Services Centres Authority (IFSCA) Act, 2019, according
to a recent government notification. The move will enable entities operating in
IFSCs to lease such equipment under operating and hybrid lease models. “In
exercise of the powers conferred by the said notification read with Section 12
of the International Financial Services Centres Authority Act, 2019, the
International Financial Services Centres Authority hereby specifies ‘Graphics
Processing Units’ and ‘connected data centre equipment’ as equipment for the
purposes of the said notification,” the notification said.
(Business Line)
Airtel Q2 net profit jumped 31% to Rs.8,887 crore on premium
user growth: India’s
second-largest telecommunications (telecom) operator Bharti Airtel reported a
31 per cent year-on-year (Y-o-Y) rise in consolidated net profit at Rs.8,887
crore for the second quarter of 2026-27 (Q2FY27). However,
the company missed estimates due to rising network costs despite the addition
of more high-paying premium customers. The figure was Rs.6,791 crore in Q2FY26.
Larger subscriber additions reflected in revenues, which rose 16.7 per cent Y-o-Y
to Rs.60,887 crore, beating estimates. Sequentially, revenues rose 4 per cent
from Rs.58,539 crore in Q1FY27, while net profit increased from Rs.8,167 crore.
(Business Standard)
Govt amends direct listing
on international exchanges rules, expands definition of equity, eases
restrictions:
The
Corporate Affairs Ministry has revised rules for overseas direct listing by
expanding the definition of equity and easing norms. The scheme for direct
listing of equity shares of companies incorporated in India on international
exchanges was notified on January 24, 2024. Under this scheme, as of date,
Indian public companies are permitted to list at India International Exchange
and NSE International Exchange located at International Financial Services
Centre in India. According to a notification by the Ministry, equity instruments now
mean equity shares, convertible debentures, and preference shares issued by an
Indian company. Further, a company having a negative net worth shall be
eligible to issue its equity instruments for listing if the issuer undertakes
to allot at least 75 per cent of the net offer to qualified institutional
buyers. Also, if an entity has defaulted in payment of dues to any bank or
public financial institution or non-convertible debenture holder or any other
secured creditor, the disqualification period has been revised from two years
to more than six months.
(Business Line)
Nearly 98% of FATCA, CRS
reporting defects relate to tax identification numbers: I-T official: Nearly 98 per cent of the defects identified
in India's reporting of financial account information to foreign jurisdictions
under the Foreign Account Tax Compliance Act (FATCA) and Common Reporting
Standard (CRS) relate to tax identification numbers (TINs), a senior Income Tax
Department official said on Thursday. The department is also looking at whether
changes to account-opening requirements could improve the collection of
information needed for such reporting.
(Business Line)
Ministry of Micro, Small
and Medium Enterprises (MSME) signs MoU with TRIFED to Strengthen Market Access
for PM Vishwakarma Artisans:
The Ministry
of Micro, Small and Medium Enterprises, signed a Memorandum of Understanding
(MoU) with the Tribal Cooperative Marketing Development Federation of India
(TRIFED), under the Ministry of Tribal Affairs, to strengthen market access for
eligible tribal artisans registered under the PM Vishwakarma Scheme.
(PiB)
Ministry of Micro, Small
and Medium Enterprises (MSME) and Samsung India Partner to Strengthen Skill
Development and Youth Employability: The Ministry of Micro,Small and Medium Enterprises,
signed a Memorandum of Understanding (MoU) with Samsung India Electronics Pvt.
Ltd. in the presence of Dr. Rajneesh, Additional Secretary & Development
Commissioner, Ministry of MSME, to promote industry-oriented skill development
and enhance employment and self-employment opportunities for youth. The MoU
will initially be valid for 3 years and implemented at 15 MSME Technology
Centres (TCs) across the country. Under this collaboration, National Skills
Qualifications Framework (NSQF)-compliant, industry-oriented training
programmes will be conducted in electronics, mobile phones, home appliances,
installation, servicing and repair through State-of-the-art training facilities
established at the identified Technology Centres by respective TCs.
(PiB)
J-CURVE
Ø
A J-curve is a trendline that shows an initial loss
immediately followed by a dramatic gain. In a chart, this pattern of activity
would follow the shape of a capital "J".
Ø
The J-curve effect is often cited in economics to
illustrate the way that a country’s balance of trade initially worsens
following a devaluation of its currency, then quickly recovers and finally
surpasses its previous performance.
Ø J-curves are observed in other fields including
medicine and political science. In each case, an initial loss is followed by a
significant gain to a level that exceeds the starting point.
RBI KEY RATES
Repo
Rate: 5.50%
SDF:
5.25%
MSF
/Bank Rate: 5.75%
CRR:
3.00%
SLR:
18.00%
FOREX RATES (RBI REF. RATE)
INR
/ 1 USD : 94.3996
INR
/ 1 GBP : 127.3746
INR
/ 1 EUR : 106.3314
INR
/100 JPY: 59.7900
EQUITY INDEX
Sensex:
79310.01 (+2008.61)
NIFTY:
24536.60 (+576.00)
Bnk NIFTY: 57773.65 (+1860.05)
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