Mint Morning Digest: RBI on privatization of PSBs, monkeypox test kits and more

Most members of the Reserve Bank of India’s monetary policy committee were in favor of front-loading rate hikes to bring inflation within the 2-6% target range and reduce the need for aggressive rate hikes in the future, according to its August policy meeting. The minutes released showed on Friday. Read more here.

RBI clarifies on recent bulletin article on privatization of public sector banks

The Reserve Bank of India (RBI) on Friday clarified on a recent bulletin article on privatization of public sector banks. Adopting a “big bang” approach to privatize PSBs will do more harm than good, said the article published by the RBI on Thursday, instead battling for a gradual withdrawal of state control. Read more here.

Adani to acquire DB Power for Power 7,017 crore

Adani Power Ltd has agreed to acquire DB Power in a cash transaction at enterprise value As India’s largest private thermal power producer, 7,017 crore wants to expand its capacity. Read more here.

Paytm on its way to profitability next year: CEO Vijay Shekhar Sharma

Financial services platform Paytm has no plans to expand internationally or make any acquisitions, the company’s management told shareholders on Friday, even as it is expected to be operationally profitable by the end of September 2023. reiterated his plan. Read more here.

India’s first indigenous monkeypox test kit launched

India has developed the first indigenously developed RT-PCR kit to test for monkeypox disease. Developed by TransAsia Bio-Medicals, the kit was unveiled by Ajay Kumar Sood, Principal Scientific Adviser to the Centre. Read more here.

Possibility of partial refund of rail concessions for the elderly

Indian Railways is ready to restore fare concessions for senior citizens in select sections after a parliamentary panel recommended restoration of benefits for the needy, two persons aware of the development said. Read more here.

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