Issue: 1355
· Jio IPO draws Rs 3.73 lakh
crore in total demand as overall subscription crosses 5.5x.
· Nasdaq 100 drops 1.8% as Meta
tumbles and oil prices climb.
· The government has appointed
Sunil Kumar as as the next Chairman of ONGC, the country’s largest exploration
& production (E&P) company.
· 80% of insurance-buying
journey now unfolds online: Google study.
· UBS acquires 4.8% stake in
360 ONE for Rs 2,112 crore.
· Crop, fire insurance premiums
fall 31%, 26.6% in H1 FY27 amid pricing pressure.
· India Post Creates History,
Crosses Rs.4,000 Crore Revenue Mark for Two Consecutive Quarters.
India's interest rate gap
with G7 in focus as RBI weighs inflation risks: Report: India's interest rate gap with major developed
economies has emerged as an important consideration for monetary policy as the
Reserve Bank of India (RBI) faces rising inflation risks, according to a report
by YES Bank. The report highlighted the importance of maintaining a certain
difference between Indian and G7 interest rates to attract foreign debt
capital, particularly as the US Federal Reserve is expected to continue its
rate-hiking cycle. External member of the RBI's Monetary Policy Committee
(MPC), Saugata Bhattacharya, said that "maintaining a certain gap between
India and G7 interest rates is important for attracting debt capital
flows".
(Business Line)
India, Poland aim to double
trade by 2030: India
and Poland have set a target to double bilateral trade by 2030. The two
countries have agreed to explore cooperation in defence, artificial
intelligence, semiconductors and critical minerals. The decisions were taken
during talks between Prime Minister Narendra Modi and his Polish counterpart
Donald Tusk on Thursday. The two sides proposed a Defence Industry Dialogue to
help companies work together. They also agreed to hold talks on
counter-terrorism and explore more direct flights between the two countries.
Tusk is on an official visit to India from October 21 to 23. He is accompanied
by around 100 business leaders and industry representatives.
(Moneycontrol)
Silver inflows likely to
rebound as import curbs eased for Diwali: India’s silver imports are set
to rebound in time for the busiest jewelry-buying season after the government
issued a raft of new permits, easing restrictions that had stifled shipments to
one of the world’s biggest markets. Traders and bank dealers this
week received quotas covering as much as 6,000 tonnes of silver, said according
to four people familiar with the matter. India imports almost all of
its silver. The government introduced
new licensing requirements in May, one of a number of measures taken to
preserve foreign-exchange reserves and defend the rupee.
(Business Line)
Yes Bank unlikely to pay
AT1 bond coupons despite bondholders’ demands, sources say: India's Yes Bank is unlikely
to pay coupons due this ?year on its additional tier-1 (AT1) bonds despite a
Supreme Court ruling ?overturning their write-off during the lender's 2020
rescue, two ?persons familiar with the matter said. The bank is ?preparing to seek a review of
the ruling, one of the sources told Reuters, while bondholders press for
payment of coupons that have remained ?unpaid since Yes Bank wrote the bonds
off six years ago. Last week, India's Supreme Court upheld a ?2023 Bombay High
Court ruling that set aside Yes Bank's ?write-off ?of 84 billion rupees ($886
million) worth of AT1 bonds, ?in a setback to the lender and
regulators that had defended the move.
(Business Line)
Government plans to pare
stakes in 4 PSU banks to 75%: The government is considering
paring its stake in four public sector banks -Central Bank of India, Uco Bank,
Punjab & Sind Bank and Indian Overseas Bank-to 75% to meet the stock market
regulator's mandated minimum public shareholding. Simultaneously, it is working
on a strategy for the next round of consolidation in public seector Banks. The
Union government announced in the 2021-22 budget that, besides IDBI Bank, it
would take up two public sector banks and one general insurance company for
privatisation.
(Economic Times)
SBI weighs data leak impact,
alerts cyber cover provider: SBI may seek a claim under a
Rs 1,425-crore cyber insurance policy with Oriental Insurance following a
suspected leak of customer data, people familiar with the matter told ET.
"SBI is in the process of notifying the insurer about the claim,"
said a person aware of the development. State Bank of India has informed its insurer
about a suspected data breach and is assessing the extent of the incident and
potential losses before filing a claim, according to a person familiar with the
matter.
(Economic Times)
India commercial insurance rates fall as capacity, competition
rise: Commercial
insurance rates in India decreased significantly in 2026 due to increased
competition among insurers. Property and financial liability insurance rates
fell for the fourth consecutive quarter, providing businesses with better
terms. Cyber insurance also witnessed a decline, marking the twelfth
consecutive quarter of reduced rates in the IMEA region. Insurers became more
competitive, allowing businesses to negotiate premiums and coverage more
effectively.
(Economic Times)
Indian Bank raises deposit
rates by 15 basis points: Indian Bank has increased
deposit rates by 15 basis points on select maturities, becoming the first major
bank to do so within 15 days of policy rate tightening by the Reserve Bank of
India. The state-owned lender said it
would offer higher rates on special term deposits effective from October 23. The
interest rate on 555 days deposits has been increased to 6.80% from 6.65% while
the rate on the 777 days scheme would carry 6.75% instead of 6.60%.
(Economic Times)
eMudhra to exit global
website security certificate business after key-generation flaw: Bengaluru-based eMudhra has decided to exit the
global website authentication certificate business following a security
incident in which eight of its intermediate security certificates were found to
have weak private keys. The company’s board took the decision on October
22. SSL/TLS certificates help browsers verify that websites are genuine and
establish secure connections with them.
(Moneycontrol)
Anthropic launches Claude
Duet AI agent to manage work in the background: Anthropic has introduced Claude Duet, an AI
agent designed to help professionals and small business owners manage work
across multiple apps without overseeing every step. Unlike a conventional
chatbot that waits for a prompt, Duet can identify tasks that need attention,
prepare updates and continue working after you leave your devices. Claude Duet can help with
everything from scheduling meetings and drafting emails to preparing financial
forecasts and building web applications. However, the service is currently in a
limited research preview, and Anthropic says users remain in control of
important decisions, including payments and sending messages.
(Business Today)
Govt plans cyber audit as
digital fault lines emerge amid security breaches: The central government is
likely to soon hold a high-level stocktaking review and audit meeting to assess
potential damage to Indian enterprises following a series of cybersecurity
incidents over the past few days, sources said. Among the issues likely to be
discussed are vulnerabilities flagged in PHP, a widely used server-side
scripting language; the leak of private keys associated with web security
certificates issued by eMudhra; and a week-old communication from the Indian Computer
Emergency Response Team (Cert-In) warning that artificial intelligence
(AI)-powered agents had reached the live networks of Indian firms, sources
said. PHP, or PHP: Hypertext Preprocessor, is an open-source scripting language
that has been around for over 30 years and is used to build and run websites
and web applications. Content management systems and publishing platforms such
as WordPress rely on PHP to deliver dynamic content. Its widespread use means
that vulnerabilities in the language can potentially expose websites,
applications, and servers across a range of organisations to cyberattacks.
(Business Standard)
eMudhra issue: Government
looking at domestic alternatives: The government is exploring domestic
alternatives to overseas audit firms associated with the international digital
certificate ecosystem following the eMudhra security incident involving
Belgium-based BDO International Ltd. It is looking to strengthen its oversight
of the process and reduce dependence on entities based abroad, government
sources said. The move follows the compromise of private keys
associated with eight intermediate certificates operated by eMudhra, which
could potentially have been used to issue fraudulent certificates and
impersonate websites. eMudhra said all eight certificates were revoked on
October 19 and that none had been used to issue customer certificates.
(Business Line)
GST Reforms: Easier
registration for small e-commerce sellers, faster refunds to take effect Nov 1: Simplified GST registration for small sellers
on e-commerce platforms, unified documentation for GST registration, faster
refunds, and a Rs.10,000 threshold for issuing GST notices are some of the
Goods and Services Tax process reforms that are likely to be rolled out from
November 1, an official said on Thursday. The 57th GST Council meeting on
October 8 approved a host of reforms in GST processes, primarily covering
registration, returns, refund and adjudication. Small suppliers selling goods through e-commerce
(ECO) platforms in multiple states/UTs, where they do not have a physical
presence, and pass on input tax credit of up to Rs 2.5 lakh per month, can
declare ECOs warehouse in that state/UT as their Principal Place of Business
(PPoB). Full refund claim of excess balance in the
electronic cash ledger will be sanctioned automatically by the system, without
officer intervention. Also, the time limit for issuance of acknowledgement or
deficiency memo will be reduced from 15 days to 10 days. For refund claims on
account of zero-rated supplies and inverted duty structure, 90 per cent of the
amount claimed will be sanctioned on provisional basis automatically by the
system, without officer intervention, on the basis of identification and
evaluation of risk by the system. To reduce compliance burden and litigation, a
minimum threshold of Rs 10,000 would be fixed for issuance of show cause
notices.
(Business Line)
I-T likely to send notices
over undisclosed foreign property: The Income-Tax Department will send notices to
resident Indians regarding undisclosed foreign properties. Information was
obtained through spontaneous exchanges and prior investigations into overseas
assets. The FAST-DS scheme allows individuals to voluntarily disclose
properties without facing penalties or prosecution. This opportunity aims to
regularize the foreign assets of small taxpayers effectively. Overall
participation in the scheme has been lower than anticipated due to its
limitations.
(Economic Times)
Odisha to unveil India's 1st
dedicated Agri-PV policy, targets 1 GW by 2030: Odisha will soon unveil its agrivoltaics
policy that will facilitate agricultural cultivation alongside solar power
generation on the same land, making it the first state in India to introduce a
separate policy framework for the emerging sector. The proposed Agri-PV
Policy 2026 targets the installation of 1 gigawatt (GW) of agrivoltaic capacity
by 2030, while safeguarding farmers’ interests through provisions requiring at
least 90 per cent of project land to remain under active cultivation.
(Business Standard)
Zero Trust
Architecture
·
Zero Trust Architecture is a cybersecurity approach
in which access is not automatically trusted simply because a user or device is
inside an organisation’s network. Access decisions consider identity, device
condition, the sensitivity of the resource and other relevant circumstances.
Its central principles include explicit verification and least privilege,
meaning users receive only the access needed for their work.
·
For example, a bank employee authorised to view
customer accounts should not automatically receive access to system
administration tools or bulk customer data. Zero Trust uses measures such as
strong authentication, device checks, restricted access and monitoring to
reduce the damage that a compromised account or device can cause.
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 : 94.6986
INR
/ 1 GBP : 126.9252
INR
/ 1 EUR : 106.5012
INR
/100 JPY: 60.2500
EQUITY INDEX
Sensex:
73249.39 (-460.30)
NIFTY:
22687.65 (-123.70)
Bnk NIFTY: 54925.70 (-51.20)
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