Mint Morning Digest: Bitcoin tumbles to lowest level in 18 months and more
Premium- Mint Morning Digest: Read top business news, equity market precursors, and economic and banking news updates from India and across the world for 19 June, 2022
Mint Morning Digest
The great crypto crash: Bitcoin tumbles to lowest level in 18 months; Here's why
Bitcoin fell below $20,000 for the first time since late 2020 in a fresh sign that the selloff in cryptocurrencies is deepening. The price of the most popular cryptocurrency had plunged more than 13%-- to a low of $17,593-- at one point on Saturday, according to the cryptocurrency news site CoinDesk. (Read more)
Amid worst power crisis in 6 years, India buys more Russian coal
Russia, which is under harsh Western sanctions as a result of its invasion of Ukraine, warned the European Union in April that sweeping coal penalties would backfire because the fuel would be diverted to other markets. Now, India's sales of Russian coal have increased in recent weeks as brokers offer discounts of up to 30%. (Read more)
Govt announces measures to reduce supply of raw material to enforce ban on single-use plastic
Central Pollution Control Board is set to take measures to reduce the supply of raw materials to enforce a ban on identified single-use plastic items by 30th June 2022. (Read more)
FMCG company Adani Wilmar cuts edible oil prices by ₹10
Adani Wilmar, one of India's largest Fast Moving Consumer Goods (FMCG) food firms, reduced the price of its edible oils by ₹10 on Saturday, after the government's decision to lower import duties on the commodity. According to a statement from Adani Wilmar, the maximum retail price (MRP) of Fortune refined Sunflower oil's 1-litre pack has been lowered to ₹210 from ₹220. (Read more)
Yes Bank hikes interest rates on 1 to 10 years of fixed deposits
Yes Bank, a private sector lender, raised interest rates on fixed deposits below ₹2 crore. The bank made the announcement today, June 18th, 2022, and as a result of the revision, interest rates on deposits maturing in one to ten years have been raised. The bank is now offering a regular rate of 3.25% to 6.50% and 3.75% to 7.25% to senior citizens on fixed deposits of 7 days to 10 years. (Read more)