Cabinet on Wednesday approved the semi-conductor production linked incentive (PLI) scheme, releasing Rs 76,000 crore. Ola has commenced deliveries of its electric scooters. The company organised special events in Bangalore and Chennai to deliver both S1 and S1 Pro trims to the first 100 customers. The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.80 crore on Punjab National Bank and Rs 30 lakh on ICICI Bank Ltd. Here are some top news of the day

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ECONOMY/BUSINESS

RBI penalises Punjab National Bank and ICICI Bank

The Reserve Bank of India (RBI) on Wednesday has imposed a monetary penalty of Rs 1.80 crore on Punjab National Bank and Rs 30 lakh on ICICI Bank Ltd.

Cabinet approves semi-conductor PLI scheme

Cabinet on Wednesday approved the semi-conductor production linked incentive (PLI) scheme, releasing Rs 76,000 crore in what Union Minister Ashwini Vashinaw called a design linked incentive scheme, adding that 50 percent of the design expenditure will be borne by the government. Read more

India continues to see outflows

Foreign institutional investors (FIIs) again sold Indian equities to the tune of US $ 0.8 billion in November as they preferred Brazil and South Korea, CLSA said. Read more

MARKETS

'Digital banks poised to make huge profits'

Chairman and Co-Founder of Motilal Oswal, Raamdeo Agrawal said he expects digital banks to make huge profits going forward. According to him, India's digital rush has begun and would transform the economy. Read more

ITC shares decline; buy, sell, or hold?

ITC gave up initial gains to close lower Wednesday a day after the company conducted its first-ever analyst meet. Most brokerages said the FMCG major did not lay a concrete plan for emerging and listing of businesses to unlock the value. Read more

Star Health shares in tailspin

Rakesh Jhunjhunwala-backed Star Health slipped below its issue price Wednesday, declined 13 percent. The company had debuted with a discount of 6 percent to the issue price of Rs 900. Read more

INDIA

Centre issues new rules for international travellers

The Centre has issued new guidelines for travellers arriving in India from other countries amid the COVID-19 variant Omicron threat. According to the new set of rules, international travellers arriving from or having travelled to countries that have been designated 'at-risk' will have to compulsorily pre-book on-arrival RT-PCR tests. Read more

Group Captain Varun Singh, injured in helicopter crash, dies

Group Captain Varun Singh succumbed to his injuries sustained in the helicopter crash, the Indian Air Force said. Prime Minister Narendra Modi expressed his condolences. "Group Captain Varun Singh served the nation with pride, valour and utmost professionalism. I am extremely anguished by his passing away," he said. Read more

Kolkata Durga puja bags UNESCO heritage tag

The UNESCO on Wednesday accorded heritage status to Kolkata's Durga puja festival, bringing glory to the country, with Prime Minister Narendra Modi and Chief Minister Mamata Banerjee lauding the move. Read more

WORLD

US COVID-19 death toll hits 800,000

The US death toll from COVID-19 topped 800,000 on Tuesday, a once-unimaginable figure seen as doubly tragic, given that more than 200,000 of those lives were lost after the vaccine became available practically for the asking last spring. Read on

Metaverse will be successor to internet: Zuckerberg

Metaverse will be the successor to mobile internet, it will be an immersive internet, Meta chief Mark Zuckerberg said Wednesday. He said this virtual world will shape all the experiences on the internet, with uses case ranging from hanging out with friends to entertainment, gaming, fitness, and education. Read more

Wealth tax: Elon Musk spars with Elizabeth Warren

SpaceX and Tesla chief Elon Musk engaged in a Twitter spat with US Senator Elizabeth Warren over tax payment. Read details

YOU & I

Virat Kohli on removal: No prior communication from BCCI

Virat Kohli's removal as the captain of India's ODI team was not only a surprise for his fans but for him as well. Addressing a press conference, Kohli said he was informed 1.5 hours before the decision was made formal. Read more

Ola begins deliveries of electric scooters

Ola on Wednesday commenced deliveries of its electric scooters. The company organised special events in Bangalore and Chennai to deliver both S1 and S1 Pro trims to the first 100 customers. Read more

Attractive deals on Apple iPhone

Flipkart's Big Saving Days sale has some steep discounts on a range of Apple iPhones. Customers using SBI credit cards will get an instant discount of 10 percent. Read more

(Edited by : Yashi Gupta, Aditi Gautam)

First Published:Dec 15, 2021 10:01 PM IST