The Indian economy has started to show strong signs of recovery from the devastation caused by the COVID-19 pandemic with 19 out of 22 economic indicators seeing an upswing. DIPAM Secretary Tuhin Kanta Pandey has said the government is trying to launch the initial public offering (IPO) of Life Insurance Corporation (LIC) in the fourth quarter for this fiscal year. On the other hand, share markets jumped sharply Tuesday as Sensex surged over 880 points to recover yesterday's losses. But, it remains to be seen if the rally can sustain. Meanwhile, the Serum Institute of India (SII) has decided to cut Covishield production by at least 50 percent starting next week. Here are some top news of the day

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ECONOMY

Aiming for LIC IPO in Q4, says DIPAM Secy

Speaking with CNBC-TV18 in an exclusive interview, DIPAM Secretary Tuhin Kanta Pandey said the government is trying to launch the initial public offering (IPO) of Life Insurance Corporation (LIC) in the fourth quarter for this fiscal year, as planned. Read more

SBI expects loan growth of 9& YoY, says Chairman

State Bank of India Chairman Dinesh Kumar Khara said in an interview to CNBC-TV18 that the bank expects to clock a loan growth of 9 percent year-on-year basis in FY22. Read more

Economy shows strong signs of recovery

Indian economy is showing strong signs of recovery from the devastation caused by the pandemic. Some 19 out of 22 economic indicators have seen an upswing as compared to the pre-pandemic levels. Read more

MARKETS

Goldman reiterates 'buy' on Reliance Industries

Goldman Sachs reiterated a 'buy' rating on Reliance Industries on Tuesday and raised its target price. The brokerage incorporated the billionaire Mukesh Ambani-led conglomerate's new energy capital expenditure, earnings and valuation. Check the target price here.

Relief rally or bear trap? Experts share outlook

Share markets rose sharply Tuesday as Sensex closed at 57,633, surging over 885 points to recover yesterday's losses. Yesterday, the benchmark index had plunged over 950 points to hit a three-month low. Can this rally sustain? Dipan Mehta of Elixir Equities has warned of further sell-off, adding that markets do not have a real reason to do a U-turn and start rising. Here’s what he said.

Nifty50 in no man's land: All Star Charts

JC Parets of All Star Charts on Tuesday said Nifty 50, Nifty, Bank Nifty and Nifty 500 are in a precarious situation because they haven't hit the upside targets yet. Here's why they are in no man's land.

INDIA

Serum Institute to reduce Covishield production by at least 50% starting next week: Adar Poonawalla

Vaccine manufacturing major Serum Institute of India (SII) on Tuesday said it is reducing Covishield production by at least 50 percent starting next week as the company has no further orders from the Indian government. Read more

Goa elections: Kejriwal promises Rs 1,000 per month cash assistance for women above 18

Delhi Chief Minister Arvind Kejriwal has promised cash assistance of Rs 1,000 per month for every woman above the age of 18 years if his party came to power in the state in the 2022 Assembly elections. More details here

IIT-Kanpur receives 47 international job offers, highest package touches Rs 2 crore

Students at the Indian Institute of Technology (IIT) Kanpur have to date received 47 international offers in the 2021-22 campus placements as compared to 19 last year. Check out the highest package here

INTERNATIONAL

UAE shifts to 4.5 day workweek, Saturday-Sunday weekend

The United Arab Emirates (UAE) will shift to a four and half-day working week come January 1, 2022. The oil-rich nation will also be moving to a Saturday-Sunday weekend, which will help it align its economy with global markets. Read more

Rohingya refugees sue Facebook for $150 billion over Myanmar violence

Rohingya refugees from Myanmar are suing Meta Platforms Inc, formerly known as Facebook, for $150 billion over allegations that the social media company did not take action against anti-Rohingya hate speech that contributed to violence. Read more

Young people recover quickly from rare side effect of Covid vaccine: Study

Most young people under the age of 21 who develop suspected COVID-19 vaccine-related inflammation of heart muscle, known as myocarditis, have mild symptoms that improve quickly, according to a study. Dig deeper

YOU & I

Taking loans from fintech? Here's how to be aware of frauds

Digital lending has the potential of making access to financial products fair, efficient and inclusive. However, a basic understanding of digital loans and the process of lending will help borrowers stay safe from fraud. Here’s how

ATM transactions charges rise

Customers will have to pay more if they exceed the free ATM transaction limit from January 1, 2022. This development come on the back of RBI order that permitted banks to increase charges for cash and non-cash ATM transactions. Here’s how much you have to pay

Taking loans from fintech? Here's how to be aware of frauds

While digital lending has the potential of making access to financial products fair, efficient and far more inclusive than traditional banks, customers should be aware of the downside risks that are interwoven with such endeavours. Here's how to avoid frauds

(Edited by : Kanishka Sarkar and Yashi Gupta)