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Dec 5 2020 . ISSUE 24

Good morning!😊 The weekend is here and time to tune into instagram for the weekend story. But first, update yourself with the major news here. Enjoy.

Investment is most successful when it is most businesslike.

– Ben Graham




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Zydus Cadila gets DCGI nod for Phase 3 trial of repurposed drug to treat Covid-19.

Tata Sons buys shares worth ₹121 crore in Tata Chemicals.

60% Indians could be Vaccinated: India Tops Vaccine Buyer List.
Documents in a folder with Trump Organization insignia

Here's a headline that calls for celebration. 60% of Indians might just be a few months away from receiving the Covid-19 vaccine. 

Splashing the cash

According to a global survey, India is the largest buyer of COVID-19 vaccines in the world with 1.6 billion doses. The nation has purchased huge amounts of doses from three candidates - Oxford University - Aztrazeneca vaccine, US based Novavax, and Sputnik V of Russia's Gamaleya Research Institute. 

India is followed by the European Union and the US which has purchased close to a billion doses from six different candidates. 

Playing the right cards. 

India being one of the vaccine manufacturing countries, was able to come to favorable manufacturing and purchase agreements in advance. All the vaccines pre-booked by India are manufactured by Indian companies – Oxford-AstraZeneca and Novavax by Serum Institute of India (SII) in Pune and Sputnik V by Dr Reddy’s Lab in Hyderabad. 

The numbers that count. 

The 1.6 billion doses would cover 800 million people or 60 per cent of India’s population. This should be enough to develop herd immunity, a form of indirect protection from infectious disease that occurs when a sufficient percentage of a population has become immune to an infection. 

The first 500 million doses would be given to 250 million people mostly comprising of frontline workers, healthcare workers, sanitation, emergency services, and security services.  

Bottom line: A vaccine is on the brink of being approved and we can't wait to take our masks off. 

2020 RBI Monetary Policy Highlights.
walmart shopping

The RBI Monetary Policy 2020 was rolled out today, and here are the main takeaways - 

RBI Monetary Policy 2020

The Monetary Policy Committee (MPC) has decided to keep the interest rates unchanged, the repo rate steady at 4 percent and the reverse repo rate at 3.35 percent. 

The Gross Domestic Product (GDP) is projected to contract to 7.5 percent from the record low of 9.5 percent. The Consumer Price Index (CPI) inflation is forecast at 6.3 percent in Q3FY21, and 5.8 percent in Q4.

The money transfer tool RTGS facility will be made 24x7. Settlement of AMPS, NFS, Rupay and UPI transactions will be allowed all days of the week. 

Not all hope is lost. 

RBI believes that inflation will remain elevated mostly with some relief in the winter period. On the other hand, the growth in rural areas has been quite resilient and picking up pace to return to pre-covid numbers. It is also looking to review the NBFC regulatory regime to take a scale-based approach and will put in place criteria for declaration of dividends. 

Corporates will have to wait. 

The proposal to let NBFCs and Corporates own banking licenses have been rightly left on the shelf. The RBI do know to listen to opinions, unlike the government. *cough, cough*

Bottom line:  The economy might be looking bleak and it might take a bit of time before financial stability returns but this might just be a move in the right direction. 

  • National Company Law Tribunal (NCLT) okays Jio’s proposal for Reliance Infratel.
  • Delhi High Court Directs RBI To Reconsider Jindal Steel And Power Ltd Application To Remit $300 mln To Mauritius Subsidiary
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