Top headlines: Mixing vaccines for booster, TCS' $50 bn goal, and more
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RBI | Paytm Payments Bank | Coronavirus Vaccine
BS Web Team | New Delhi Last Updated at March 15, 2022 07:34 IST
KYC-AML rule breach led to lens on Paytm Payments Bank: Sources
The Reserve Bank of India (RBI) has prohibited
Paytm Payments Bank from acquiring new customers primarily owing to violations of norms on “know your customer —anti-money laundering (KYC-AML)”, multiple sources told Business Standard. Banks are supposed to undertake due diligence of customers before on-boarding, which is the first step.
Read more... Will India go for mixing vaccines for booster shot? Decision soon
The decision on whether to allow heterologous boosting — or a different vaccine for the third shot — in India is expected soon. Investigators from Christian Medical College, Vellore, who have been carrying out a clinical study on mixing vaccines, are likely to present their interim data from 400 volunteers. Multiple sources confirmed that a presentation before the subject expert committee of the Central Drugs Standards Control Organisation (CDSCO) is expected this week.
Read more... Tata Consultancy Services' $50-billion goal below its growth standards
Tata Consultancy Services (TCS) — the largest information technology (IT) services provider in India and the second-largest globally — recently set an ambitious goal of $50 billion in revenue by 2030. The growth required to reach this goal, however, is lower than the company’s own standards.
Read more... Ukraine impact: India's private banks may feel the heat from weak macros
The Ukraine war and associated sanctions and disruptions are leading to a stressful macro situation for India. Inflation, which is already high, is likely to spurt due to supply chain issues across multiple sectors and high energy prices. The
RBI may be forced to raise rates to defend the rupee, especially if the US Fed proceeds to hike policy rates and to lighten its balance sheet. This could mean a downgrade to earnings expectations and market valuations. The banking sector will be a key player.
Read more... Around 66% of BSE 500 universe is in the red since October, shows data
Around 66 per cent of the BSE 500 universe is in the red since October, with 71 stocks losing more than 25 per cent of their value. The conflict between Russia and Ukraine and the subsequent market correction may appear to be a good opportunity for investors to nibble into these stocks. But market watchers are of the opinion that valuations are still expensive and there is no clear answer to whether the markets have turned attractive.
Read more...
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First Published: Tue, March 15 2022. 07:34 IST
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