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Supreme Court on December 20 set aside the National Consumer Disputes Redressal Commission (NCDRC)’s earlier judgment that capped the interest charged by banks on late credit card bill paymets at 30 per cent. The national consumer court had in 2010 restrained banks from charging interest rates in excess of 30% per annum from the credit card holders for their failure to make full payments on due date. The NCDRC judgment had held that if banks charge rate of interest over 30% towards credit card dues, that would amount to unfair trade practice.

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risk-adjusted returns than mid- and small-cap indices in 2025, driven by higher earnings growth and relatively attractive valuations, according to HDFC Securities. The brokerage remained overweight on large banks, top-tier IT, consumer durables, capital goods, real estate, cement, and building materials sectors while maintained an underweight stance on auto, consumer staples, oil & gas, mid-cap IT, small banks, and NBFCs.

largest metro network in the world, Union Housing and Urban Affairs Minister Manohar Lal has said, underlining that 997 kilometres of metro rail is currently under construction in the country, an official statement stated on Thursday. In his address to consultative committee members of Parliament attached to the HUA ministry on Wednesday, the minister said that the government is working relentlessly to strengthen the urban transport network across the country, the statement stated. Manohar said that urban mobility is an important aspect to tackle the rising urban population, adding that India will soon have the second largest metro network in the world. «About 993 kilometres of metro rail is operational in 23 cities across the country and about 997 kilometres is under construction in 28 cities in the country...India is well on its way to have the 2nd largest metro network of the world,» the statement quoted the minister as saying.

Chinese hackers specifically a group known as ‘Salt Typhoon’, reported Reuters. According to Reuters, the Cybersecurity and Infrastructure Security Agency (CISA) has issued guidance while recommending the use of end-to-end encrypted communication methods which are available in renowned apps like WhatsApp, iMessage and Signal. On the other hand, regular phone communications are not actually encrypted and can be intercepted by telecom companies, law enforcement or hackers. The Salt Typhoon hackers have reportedly compromised at least eight telecommunications firms in the US while leading to significant data breaches. A senior US official described these incidents as potentially the largest telecommunications hack in US history, asserted Reuters.

Zomato Ltd. 1.09 per cent to Rs 288.70 in Thursday's trade. It hit a high of Rs 290.10 and low of Rs 284.85 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 228.54, while the 50-DMA was at Rs 271.63. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Canara Bank traded 0.43 per cent in Thursday's trade at 12:27PM (IST). Around 696,300 shares changed hands on the counter. The counter opened at Rs 100.20 and touched an intraday high and low of Rs 104.00 and Rs 100.20, respectively, in the session so far. Shares of the company of Canara Bank quoted a 52-week high of Rs 129.35 and a 52-week low of Rs 82.66.

Tube Investments of India Ltd. 0.51 per cent to Rs 3730.75 in Thursday's trade. It hit a high of Rs 3735.00 and low of Rs 3673.00 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 3934.24, while the 50-DMA was at Rs 3953.21. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

The NSE Nifty index was trading 233.05 points down at 23965.8, while BSE Sensex was 844.93 points at 79337.27 at the time of writing this report.

One MobiKwik Systems, Vishal Mega Mart and Sai Life Sciences made strong stock market debuts on Wednesday, even as the secondary market remained weaker during the day. All three companies listed at premiums of 18-58% and ended higher on Wednesday. The Sensex and Nifty fell nearly 0.6% each on Wednesday after sinking almost 1.3% the previous day. Digital banking platform One MobiKwik Systems listed at Rs 440, about a 57.7% premium to its IPO (initial public offering) price of Rs 279 per share. The stock advanced 20% further to close at the day's highest tradable limit of Rs 528.

US Federal Reserve Chair Jerome Powell highlighted a cautious outlook after the central bank cut key interest rates by 0.25% to 4.25% to 4.5%. Inflation has eased but remains slightly elevated, he said, with projections of 2.4% for this year and 2.5% for 2025. Powell noted that inflationary pressures are now «roughly balanced».

As many as 59% of the Indian organisations surveyed said that they had faced financial or economic frauds in the past 24 months, compared with 41% globally and 52% in the 2022 edition of the same survey. The survey said procurement fraud has emerged as a predominant issue for Indian businesses, with 50% of the respondents identifying it as a major problem. This marks a 21% increase over the global average. In 2022, however, customer fraud was reported as the top concern by 47% of businesses. Meanwhile, globally, 44% of business leaders' highlighted cybercrime as their top concern.

Sri Lankan President Anura Kumara Dissanayake may visit China following his trip to India, and preparations are underway to welcome him, according to a senior Chinese official. Dissanayake travelled to India early this week on a three-day visit — his first foreign trip after assuming charge as the president. Vice-Chairwoman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) Qin Boyong, who met Dissanayake on Wednesday, said preparations are underway to welcome him during his future visit to China.

Requests for unusual items: During frisking and scanning in Parliament complex, security personnel come across various unusual items that are not permitted inside the premises. While cigarettes, lighters and matchboxes are common, ladies are at times found carrying nail-cutters, nail-polish, and some cosmetics which cannot be taken inside the high security area.

Wall Street's main indexes opened flat Wednesday, as investors turned cautious ahead of the Federal Reserve's final rate decision of the year and awaited signals on whether policymakers will take a more cautious stance in 2025. The Dow Jones Industrial Average rose 9.8 points, or 0.02%, at the open to 43,459.72.

Indian firms sought to raise $5.5 billion from the overseas market in October through the external commercial borrowing (ECB) and foreign currency convertible bond (FCCB) route, the latest RBI data shows. ECB registrations through combined automatic and approval route in October was higher sequentially from $4.8 billion in September as well as year on year basis from $765 million last October.

We're in the dying light of the fourth quarter, but banks are still making strategic hires. And when they find the right person, they are promoting them too. 

direct tax collections for this fiscal year so far have recorded robust growth, rising by 16.45% year-on-year to over Rs 15.82 lakh crore, according to the latest government data. The gross direct tax collections surged to Rs 19.21 lakh crore, marking a robust growth of 20.32% over the same period last fiscal. Refunds issued during this period stood at Rs 3,38 lakh crore, an increase of 42.49%.

Power Grid Corporation of India on Wednesday said its board has approved a proposal to raise up to Rs 4,250 crore funds through issuance of bonds on a private placement basis. The proposal was taken up at a meeting of the company's committee of directors for bonds, Powergrid said in an exchange filing. «Committee of Directors for Bonds has approved the raising of bonds as unsecured, non-convertible, non-cumulative, redeemable, taxable, Powergrid Bonds — LXXX (80th) Issue up to Rs 4,250 crore on private placement basis,'' it said.

US Embassy in India will implement new rules for scheduling and rescheduling nonimmigrant visa appointments. «To make sure everyone has a fair chance at getting a visa interview appointment and to reduce wait times, we’re making some changes,» the US Embassy in India said in a statement. Applicants will be allowed to reschedule their appointments once without additional charges. However, missing the rescheduled appointment or requiring a second reschedule will necessitate booking a new appointment and repaying the application fee.

Punjab government on Wednesday informed the Supreme Court that continuous, elaborate meetings were held with Jagjit Singh Dallewal, farmer leader who is on an indefinite fast at Khanauri border, and other farmers, but they declined interacting with the high-powered committee constituted by it. A bench of Justices Surya Kant and Ujjal Bhuyan was informed by Punjab advocate general Gurminder Singh that the committee invited them on December 17, but protesting farmers did not engage with it. Singh said the state government was trying to persuade the farmers on a daily basis and suggested they could be permitted to submit their demands directly to the court. The top court said, «We clarify that court's doors are always open to any suggestion or demand by farmers directly or through their authorised representative.»