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multilateral development banks (MDBs) has secured wide backing of these entities, people familiar with the deliberations told ET. The MDB reform programme will be taken up at the G20 finance ministers and central bank governors' (FMCGB) meeting in Marrakech under India's presidency on October 12-13. The reforms blueprint is derived from the report of the Independent Expert Group (IEG), co-chaired by 15th Finance Commission chairman NK Singh and former US treasury secretary Larry Summers, set up by the G20. The group recently submitted the second volume of its report outlining a roadmap for implementation of MDB reforms. The panel was set up under India's G20 presidency with a mandate to develop a road map for an updated MDB ecosystem — with milestones and timelines — that includes recommendations on the vision statement, incentive structure, operational approaches, and financial capacity. The G20 FMCBG meet, the last such meeting under the Indian presidency, will discuss the contours of the proposed roadmap at its meeting. Finance minister Nirmala Sitharaman chaired a meeting with the heads of MDBs last Friday in the run-up to the upcoming Marrakech ministerial to discuss the reforms suggested by the IEG. Some MDBs have already begun work on the IEG recommendations and are expected to adopt these after shareholder approvals, said one of the persons quoted above. «There is a wider acceptance of the need to carry out such reforms… Most MDBs have shown inclination and will take proposals to their shareholders,» the person said, adding that enhanced use of private capital and wider instruments such as hybrid capital is in focus. Some countries have expressed reservations on the proposed reform roadmap.

NEW DELHI : Bankruptcy and audit regulators are tightening their supervision of the distressed asset and audit markets as two bills proposing amendments to the Insolvency and Bankruptcy Code and the Companies Act make their way through ministries. The Insolvency and Bankruptcy Board of India (IBBI) and audit regulator National Financial Reporting Authority (NFRA) are moving ahead, issuing clarifications, while the two bills come under rigorous inter-ministerial discussions, according to a person informed about the development.

NEW DELHI : Israel’s declaration of war on Hamas in response to attacks on its territory may cloud New Delhi’s ambitious plans to build an India-Middle East-Europe economic corridor (IMEEC), Indian exporters and trade experts said. The plan to develop shipping and railway links between the three regions was announced as part of the Delhi declaration of the G20 summit in India. Fears are growing in the Indian capital that the war could drive insurance premiums and shipping costs higher as was seen on the trade routes affected by the Russia-Ukraine war last year.

MUMBAI : Indian stocks may open lower on Monday, in line with other global stock indices, in response to the Israel-Hamas war that erupted early Saturday, fund managers said. While they expect no immediate cause for panic, they are closely monitoring the evolving situation as any widening of the war could profoundly impact Indian stocks because of a surge in oil prices, and heightened volatility in rupee and bond yields . Israel’s benchmark TA-35 Index, tracking 35 top companies on the Tel Aviv Stock Exchange, which runs from Sunday through Thursday, plunged 6.47% on Sunday.

₹1,150) a month for access to Instagram on mobile devices, and $17 (~ ₹1,400) a month for desktop access to both Instagram and Facebook. Meta offers a paid verification programme both in India and around the world.

₹500 crore mark in the Indian market, breathing life into single screens across small towns, had only earned $2.1 million ( ₹18.03 crore) during its opening weekend overseas. The film that resonated with mass audiences in India due to its emotional storytelling technique, didn’t find favour with viewers in overseas markets looking for premium fare.

Busy, stressed-out humans aren’t always good at expressing empathy. Now computer scientists are training artificial intelligence to be empathetic for us. AI-driven large language models trained on massive amounts of voice, text and video conversations are now smart enough to detect and mimic emotions like empathy—at times, better than humans, some argue.

air pollution is linked to growing respiratory ailments in India, experts have said and urged the government to bring a policy limiting the number of cars per family and restricting the number of vehicles plying on roads at a time. On the sidelines of the 25th National Conference on Pulmonary Diseases (NAPCON-2023), organised by the Indian Chest Society here, Dr Rakesh K Chawla, the chairman of Pulmonology and Critical Care at Jaipur Golden Hospital, said air pollution has short-term as well as long-term effects on health.

The NSE Nifty 50 index settled 0.55% higher at 19,653, while the S&P BSE Sensex climbed 0.55% to 65,995. Here's how analysts read the market pulse: «Nifty ended the week with a modest gain despite the selling in the banking sector. Overall, sentiment is expected to stay positive as long as it maintains above the critical support level of 19,500, as put writers are likely to offer support at this level.

Multi Commodity Exchange of India (MCX), India’s largest commodity derivatives exchange, on October 8, received approval from the Securities and Exchange Board of India (SEBI) Technical Advisory Committee to launch a new web-based commodity derivatives platform (CPD). «SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate SEBI regarding the proposed date for Go Live,» MCX said in an exchange filing. «Accordingly, SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed Go-Live of CDP in abeyance,» it added. The approval comes after the SEBI had on September 29 asked the company to put on hold the proposed go-live of its new commodity derivatives platform planned for the first week of October. Earlier, MCX had said that its commodity derivatives platform would go live on October 3. The above action had been taken by the market regulator in view of the writ petitions filed by Chennai Financial Markets and Accountability (CFMA) on CDP. Shares of India's largest commodity exchange, the Multi Commodity Exchange, rallied 4.6% to Rs 2,039 on Friday's trade. On a year-to-date basis, the stock has surged 40%, while it has rallied over 55% in the past one year. As per Trendlyne data, the average target price of the stock is Rs 1,811, which indicates a downside of 11% from the current market prices.

Sectorally, buying was seen in realty, consumer durables, infra, and IT stocks while selling was seen in telecom stocks. Stocks that were in focus include names like Ujjivan Small Finance Bank which rose nearly 6%, Godrej Industries rallied nearly 20% and AstraZeneca Pharma closed with gains of more than 4% on Friday. All three stocks hit their respective 52-week high in intraday trade. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Analyst: Hariprasad Kizhakkethara, SEBI Registered RA (INH200009351), Director of Livelong Wealth Ujjivan Small Finance Bank The stock went up to 11% in a single day on Friday.

Reliance General Insurance Company (RGIC), a unit of Reliance Capital Ltd, on Sunday received received multiple show cause notices, amounting to Rs 922.58 crore, from the Directorate General of GST Intelligence, reported PTI. The notices relate to the applicability of GST on re-insurance commission and co-insurance premium, as well as availing input tax credit and non-payment of GST on the import of reinsurance services. According to PTI sources, the company has received four notices from the DGGI demanding GST of Rs 478.84 crore, Rs 359.70 crore, Rs 78.66 crore, and Rs 5.38 crore respectively. The RGIC auditors will have to provide for this amount in its quarterly results ending September 30, as a contingent liability, PTI cited a tax expert as saying. RGIC is the crown jewel of Reliance Capital which is undergoing a debt resolution process through NCLT. RGIC constitutes almost 70 per cent of the total value of Reliance Capital.

MRF, Page Industries, or Nestle India is common among investors. However, the high cost of acquiring a whole stake often proves to be a significant hurdle for many aspiring investors.

Foreign Portfolio investors (FPIs) have dumped Indian equities worth Rs 8,000 crore in the first week of October on the back of dollar appreciation and the steady rise in the US bond yields. This came after FPIs turned net sellers in September and pulled out Rs 14,767 crore. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.

The author, Vinod Nair is Head of Research at Geojit Financial Services Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions."Exciting news! Mint is now on WhatsApp Channels

₹10 lakh - ₹35 lakh salary range are sought after. During a job change in the auto sector, one can expect a 25% salary increase, which can rise to 50% for those with EV-specific experience. Headhunters are witnessing a surge in demand as automakers diversify their EV product lines.

TCS, Infosys, HCL Technologies, Avenue Supermarts, and HDFC Life Insurance Company would be releasing their September quarter report cards this week. Here’s a list: October 9 KPI Green Energy, Avantel, Dhampur Bio Organics, Evergreen Textiles, and Betala Global Securities will announce their Q2 results on October 9.

ChatGPT, an AI model developed by OpenAI, has recently offered insights into the likelihood of Ripple's XRP reaching the $1 milestone in 2023, with our prompts. While the analysis is data-driven, it's important to clarify that these are not financial recommendations.

Jonathan Schiessl, Deputy CIO, Westminster AMC, says “I am very happy with our investments towards India which tend to be much longer term. We try not to be too short term. We have taken some equity weightings down to sort of underweight positions but within the context of an overall equity allocation, we have kept weightings in emerging markets and places like India up. We have not taken money out of India at all and we continue to like it on a medium to longer term basis.” I always thought you loved India. Yes.

Reserve Bank of India (RBI) to exchange and/or deposit Rs 2,000 notes expired yesterday (October 7, 2023). It may happen that you still have Rs 2,000 notes with you. The banks can neither accept it to deposit in your bank account nor exchange it, as per RBI rules. It is important to note that Rs 2,000 note continues to remain legal tender even now. Here is what you can do after the expiry of the Rs 2,000 note exchange, deposit deadline. As per the RBI notification dated September 30, 2023 «With effect from October 8, 2023, banks shall stop accepting Rs 2000 banknotes for credit to accounts or exchange to other denomination banknotes. Rs 2000 banknotes shall continue to be allowed to be presented at the 19 Regional Offices of RBI having Issue Departments (RBI Issue offices) for credit to the bank accounts in India or exchange.»

The author, Rupak De is Senior Technical analyst at LKP Securities Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions."Exciting news! Mint is now on WhatsApp Channels