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Mint Morning Digest
Bidding frenzy: IPL rights hit ₹43,050 crore on day one
Bidding for the television and digital media rights of the Indian Premier League touched ₹43,050 crore on Day One of the e-auction as four large broadcasters fought for the biggest event in Indian cricket, two people aware of the development said. Read more
State-run banks plan data analytic wings to curb fraud
State-run banks may soon have dedicated analytics teams to analyse data to track frauds, detect stressed borrowers who may default on payments, and help the lenders stay ahead of competition. Read more
India cannot be pressured into signing agreement at WTO: Piyush Goyal
India cannot be pressured into signing an agreement on any issue at the World Trade Organization, commerce and industry minister Piyush Goyal warned as he joined talks with trade ministers from more than 160 countries in Geneva on Sunday to negotiate deals on trade issues in the first such meeting since the pandemic and the Russia-Ukraine war. Read more
Asian stocks sink, bond yields tick higher amid US CPI hike, Covid-19 scare from China
Asian stocks sank on Monday and bond yields ticked higher, as red-hot U.S. inflation reignited worries about even more aggressive Federal Reserve policy tightening, and a COVID-19 warning from Beijing added to concerns about global growth. Read more
Anti-profiteering body to be folded into CCI
GST anti-profiteering watchdog National Anti-profiteering Authority (NAA) is set to be subsumed into the regulatory ecosystem of the Competition Commission of India (CCI), with no extension being planned for NAA beyond November when its term ends. Read more
MSME credit demand at pre-covid levels in smaller cities; metros lag
After three waves of the coronavirus pandemic, small enterprises in smaller cities are borrowing as before, but not so much in metropolises. Read more
CES revamp to make it difficult to compare with past surveys
The government’s all-India household consumer expenditure survey (CES) is set to be launched on 1 July after a prolonged gap, but changes proposed by an expert committee set up to review “data quality issues" in the survey may make it difficult to compare with previous ones. Read more