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Indian News

Sebi tightens rules for exchange disruptions

SEBI also said on Monday it had asked the NSE to identify those responsible for the failure within 21 days and to determine why it did not move to a backup swifter.

Brokers and traders criticised the NSE sharply for not communicating well enough during last month’s outage, which they said caused losses for some investors.

The outage was the second major one for the NSE in recent years after a five-hour shutdown in 2017 due to a software problem.

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RBI forms external advisory committee for evaluating banking applications

The guidelines for ‘on tap’ licensing of Universal Banks in the private sector on August 1, 2016 and the guidelines for ‘on tap’ Licensing of Small Finance Banks in the private sector on December 5, 2019, had indicated that the applications for Universal Banks and Small Finance Banks would be initially screened by the RBI to ensure prima facie eligibility of the applicants.

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India reports 40,715 fresh COVID-19 cases, 199 deaths in last 24 hours

Six states — Maharashtra, Punjab, Karnataka, Gujarat, Chhattisgarh and Tamil Nadu — collectively account for 80.90 per cent of the 40,715 infections reported in a span of 24 hours.
The doubling time of COVID-19 cases in India has decreased from 504.4 days on March 1 to 202.3 days on March 23, the Health Ministry said on Tuesday, highlighting that six states have reported a surge in daily new cases and together account for 80.90 per cent of the new infections reported in a day.

Meanwhile, more than 32.53 lakh doses of COVID-19 vaccine were administered on March 22, which is the highest single-day vaccination so far, taking the total number of people inoculated to over 4.8 crore.

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India’s rising coronavirus cases risk denting economic recovery

“There is a restless urgency in the air in India to resume high growth, and incoming data point to even contact-intensive services such as personal care, recreation and hospitality gathering traction,” central bankers led by Deputy Governor Michael Debabrata Patra wrote in the Reserve Bank of India’s latest monthly bulletin. But “another outbreak, more lockdowns and restraints, will get unbearable in spite of learning from the initial experience of living with the virus.

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