India could get the license for the bad bank very soon, Debashish Panda, the secretary of the Department of Financial Services said Wednesday. Finance Minister Nirmala Sitharaman announced a district-wise outreach to be undertaken by banks to help credit growth in October. Meanwhile, Markets regulator Sebi ordered defreezing of bank accounts as well as share and mutual fund holdings of Rana Kapoor, former MD and CEO of Yes Bank. For all these stories and everything in between, here are some top news of the day.

Share Market Live

NSE

ECONOMY

India to get a license for bad bank very soon, says DFS Secretary

India could get the license for the bad bank very soon, Debashish Panda, the secretary of the Department of Financial Services said Wednesday. The IBA had filed an application in June with the Registrar of the Companies at the ministry of corporate affairs (MCA) to incorporate both the asset reconstruction company and its debt management company. Click here to know IBA's progress.

If only words could heal the auto industry

They wouldn't, the Chairman of Maruti Suzuki, RC Bhargava said. While government officials made a lot of statements supporting the automobile industry, but when it comes to taking actual steps, nothing has happened, Bhargava said. Click here to read what Bhargava said.

FM Nirmala Sitharaman speaks to the banking industry

Finance Minister Sitharaman while speaking to the banking industry Wednesday said it is too early to say if there is a lack of demand for credit. She announced a district-wise outreach to be undertaken by banks to help credit growth in October. She spoke about this and this too.

MARKET

Rakesh Jhunjuhnwala picks stake in Canara Bank; how Big Bull's latest buy fares among peers

Canara Bank was in focus Wednesday after data showed Big Bull has picked a stake in the state-run lender. With this, he now has stake in three banking stocks. Click here to read how his latest buy fared among peers.

SEBI orders freezing of bank, demat accounts, MF Folios of Rana Kapoor

Markets regulator Sebi on Wednesday ordered defreezing of bank accounts as well as share and mutual fund holdings of Rana Kapoor, former MD and CEO of Yes Bank. Kapoor is currently in judicial custody after being arrested in March 2020 in the alleged Yes Bank fraud case. Here's what it means.

Q1FY22 earnings performance brimming recovery hope; analysts stay positive

Corporate earnings in the first quarter of fiscal 2022 have been in line with the elevated expectations supported by a lower base. The localised restrictions in several parts of the country amid the second COVID-19 wave had a lesser impact as compared to that of the first wave that witnessed stringent lockdowns in the April-June period of last year. Here's what analysts believe.

Also Read | Commodity Wrap on August 25: Nickel, Aluminium gain; gold, silver, oil take a breather

INDIA

All Afghans must travel to India on e-Visa, says Home Ministry

The Home Ministry on Wednesday said that all Afghan nationals must travel to India only on e-Visa. The ministry said that the measure is being taken owing to the prevailing situation in Afghanistan.