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Air travel reaching pre-COVID levels by year-end or early next year

“We opened civil aviation on May 25, a good two months and two days after we have completely locked down…..with 30,000 passengers on a day.
Two days or three days ago, I think just before Diwali, we carried 225,000 and with a scale at which we are opening up in a calibrated manner, we have already opened up 70 per cent capacity,” Civil Aviation Minister Hardeep Singh Puri said.

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Online festive shopping increases chances of cybercrime: McAfee’s India

“With consumers of all ages shopping online due to the COVID-19 pandemic, more than half (68.1 per cent) have reported an uptick since the start of the pandemic. Therefore, it’s no surprise that cyber-attacks are on the rise as well. More people have been connecting and shopping online this year – for both themselves, for family and friends. Close to one in three (29.5 per cent) Indians are shopping online 3-5 days a week and 15.7 per cent are shopping every day,” revealed the McAfee report.

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Maruti sells over 2 lakh cars via online channel, launches round 5 of Mobility & Automobile Innovation Lab initiative

Citing ‘Google Auto Gear Shift India 2020 Report’, he said nearly 95 per cent of new car sales in India are digitally influenced as per the customers first research online and then buy at the physical dealerships. While online experience provides the complete spectrum of information to the customers, at the last mile the customers seek assurance of the deal from their trusted dealer advisors.

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Mutual funds add 4 lakh folios in Oct; total tally at 9.37 crore

Overall, investors infused Rs 98,576 crore in various mutual fund schemes last month, driven by robust inflows in debt-oriented schemes. Debt-oriented schemes witnessed a net inflow of Rs 1.1 lakh crore in October, after recording net outflows for two months in a row. The inflow was largely on the back of a significant investment in liquid, short-duration and money market categories.

On the other hand, the equity mutual funds saw an outflow for the fourth consecutive month to Rs 2,725 crore in October, mainly on profit-booking by investors..

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Kris Gopalakrishnan appointed first chairperson of Reserve Bank Innovation Hub

The RBIH shall create an eco-system that would focus on promoting access to financial services and products, RBI said, and added “this will also promote financial inclusion”.

The Hub will collaborate with financial sector institutions, technology industry and academic institutions and coordinate efforts for exchange of ideas and development of prototypes related to financial innovations.

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Ahead of IPO FinMin invites bids from actuarial firms for valuing LIC

The Request for Proposal has been issued to seek proposals / bids from reputed and eligible actuarial firms to work with LIC to “develop IEV in line with the requirements of the relevant Acts and regulations, Actuarial Practice Standards and guidance notes issued by the Institute of Actuaries of India and LIC Act, 1956, and to provide support during the IPO process”, it said.

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FPIs put in Rs 35,109 cr in Nov so far, global trends to be a major market driver in week ahead

he BSE and NSE will remain closed on Monday on the occasion of ”Diwali Balipratipada”.

“This week is a holiday-shortened one and we believe global cues will be in focus as there are no major domestic triggers and corporate earnings season is almost over,” said Ajit Mishra, VP – Research, Religare Broking Ltd.

Trend in coronavirus, with rising cases of infections in the US and Europe will also be influencing market sentiment, he added.

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