Mint Morning Digest: RBI MPC meeting, personal data protection bill and more

India’s central bank is expected to deliver another half-point increase in its main policy rate on Friday to signal it’s not letting up in its fight against inflation while fending off further attacks on the rupee. Read More Here.

Centre pulls data bill to make way for wider law

The government withdrew the draft personal data protection (PDP) bill introduced in 2019 to replace it with a broader legal framework on the digital ecosystem based on suggestions made by a parliamentary panel. Read More Here.

Experts see market rally nearing its top

While the benchmark Nifty index has rallied a whopping 14.5% in just under five weeks from its June low, and the volatility index, India Vix, is not showing any signs of underlying fear on D-Street, most fund managers and market experts said investors should be cautious as a potential peak could be just around the corner. Read More Here.

India Inc sees employees log in for early salary options

India Inc. is increasingly tying up with fintech platforms to help employees tide over the month-end cash crunch. The partnerships allow blue-collared and contract employees to get emergency cash without joining a rival, or do multiple shifts that brings down productivity, or abscond after accepting cash-on-delivery from customers. Read More Here.

Patra Chawl Case: Sanjay Raut’s ED custody ends Thursday

Shiv Sena MP Sanjay Raut’s custody 3-day custody by the Enforcement Directorate (ED) in connection with a money laundering probe ends on 4 August. Read More Here

Comprehensive legal framework is in the works: Ashwini Vaishnaw

The government aims to replace the personal data protection bill with a comprehensive legal framework for the digital ecosystem that will encompass a new telecom law, information technology law, and user privacy law, Ashwini Vaishnaw, minister for electronics, information technology and communications, said in an interview. Read More Here.

Sony eyes ₹450 cr ad revenue from KBC

The new season of Kaun Banega Crorepati (KBC) that goes on air this weekend has managed to boost its sponsorship and advertising rates by 10-15% compared to last year, said broadcaster Sony Entertainment Television. While Hyundai Motor India Ltd is co-presenting sponsor, Asian Paints Royale Glitz, UltraTech Cement, Vi and Gowardhan Ghee are co-powered by sponsors for the 14th edition of iconic quiz show hosted by film star Amitabh Bachchan on the channel. Read More Here.

Walmart cuts hundreds of corporate jobs, cites restructuring effort

In a restructuring effort, Walmart Inc is cutting hundreds of corporate roles, reported The Wall Street Journal on 3 August. Read More Here.

LIC listing drives govt’s shareholding in NSE listed companies to record 7.15% in Q1

The listing of the country’s largest life insurer, LIC has pushed the government’s holding in NSE listed companies to a high of 7.15% in the quarter ending June 30, 2022 (Q1FY23) compared to 5.48% in the March quarter. In value terms, the government’s holding in NSE-listed companies has risen by 20.24% to ₹16.99 lakh crore in Q1 due to the LIC IPO issue. Read More Here.

Zawahiri’s killing was a big US success of an era that’s passed

The US drone strike that killed Ayman al-Zawahiri, the head of Al Qaeda and one of the last remaining architects of the 9/11 terrorist attacks on the US, delivered a measure of justice. It did not deliver resolution in the debates still surrounding US counterterrorism policy. Read More Here.

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