SEBI Market Review
Markets regulator Sebi on Monday reviewed the margin framework for cash and derivatives segments, in order to bring more efficiency in the risk management system. The move has been taken to keep pace with the changing market dynamics and to bring more efficiency in the risk management framework.
Credit Slowdown: The biggest challenge that the banks face currently is a slowdown in credit growth, said Reserve Bank of India (RBI) Governor Shaktikanta Das at a media event on Monday. The growth in credit has moderated to 7-7.5 per cent this year, Shaktikanta Das also said, adding, it needs to improve and the central bank is taking steps in this regard. The slow credit uptake affects the profitability of the banks and therefore, the focus of the banks should be on prudent lending, Shaktikanta Das added.
Gangster extradited: Fugitive gangster Ravi Pujari who is wanted in many heinous crimes, including murder and extortion, was brought in the early hours of Monday from Senegal via France to Bengaluru, police said.
Sunni Waqf: The Uttar Pradesh Sunni Central Waqf Board on Monday said it will build a mosque as well as an Indo-Islamic research centre, a hospital and a library on the five-acre plot allotted to it following the Supreme Court’s Ayodhya verdict.
5G Smartphone: Chinese handset maker Realme on Monday launched first 5G smartphone models in India at a price starting Rs 37,999 onwards. While the new smartphone models in the Realme X50 Pro 5G series are the most expensive handsets from Realme, industry analysts see it of no value for customers in India in the absence of the 5G network.
Manish Sisodia: A Delhi court on Monday directed the city police commissioner to file a fresh report on a plea seeking registration of an FIR against the AAP leader for allegedly spreading fake news on Twitter related to violence near Jamia Millia Islamia during anti-CAA protests. Additional Chief Metropolitan Magistrate Vishal Pahuja directed the police chief to file the report by March 17 while rejecting an ATR filed by the investigating officer that stated “no cognizable offence is made out against Manish Sisodia from the contents of his tweet”.
RBI said cash is king, but digital is divine
With ‘cash is king, but digital is divine’ moto, the Reserve Bank of India (RBI) on Monday said its endeavour will be to make digital payments a divine experience for the users after being buoyed by over Rs 3.5 lakh crore reduction in the notes in circulation (NIC) post demonetisation.
#MeToo Conviction: Former Hollywood producer Harvey Weinstein was convicted of sexual assault by a New York jury on Monday, a victory for the #MeToo movement that inspired women to go public with misconduct allegations against powerful men. Once one of Hollywood’s most powerful producers, Weinstein, 67, was convicted of sexually assaulting former production assistant Mimi Haleyi in 2006 and raping Jessica Mann, a onetime aspiring actress, in 2013. He faces up to 25 years in prison.
Delhi violence: Four people including a Delhi Police head constable were killed and many injured in clashes in pockets of north-east Delhi that broke out on Monday over the amended citizenship law. There have been appeals for peace from political leaders including Delhi Chief Minister Arvind Kejriwal who tweeted the first SOS message to the Centre. BJP’s Manoj Tiwari followed up with his own appeal urging people to hold peace.