At least 28 people died in Uttarakhand on Tuesday as incessant rain continued to lash various parts of the state. The first US Bitcoin futures-based exchange-traded fund began trading on Tuesday, sending bitcoin to a six-month high . As food delivery platform Zomato faced backlash on social media over a customer service executive referring to Hindi as the national language, the company’s founder and CEO Deepinder Goyal called for a higher level of tolerance For all these stories and everything in between, here are some top news of the day

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BUSINESS/ECONOMY

GST council likely to consider single tax rate for online gaming, race courses & casinos

GST Council is likely to consider one single tax rate for online gaming, racecourses, casinos and that could be as high as 28 percent. The industry, especially the online gaming world, has been pitching for 18 percent in a lot of submissions. Read more

Govt constitutes panel on future taxation policy for tobacco

The government has constituted an expert panel on future taxation policy for tobacco. The committee is formed by the Ministry of Health & Family Welfare. The panel will suggest recommendations from Budget FY23 onwards. Read more

Moody's upgrades banking system outlook to 'stable'

Moody's Investors Service on Tuesday raised the outlook for the Indian banking system to 'stable' from 'negative' citing moderate deterioration of asset quality since the onset of the pandemic and likely pick-up in credit growth with economic recovery. Read more

MARKETS

HUL Q2 result: Net profit rose 9% YoY

Hindustan Unilever (HUL) reported a 9 percent rise in net profit to Rs 2,187 for the second quarter of this financial year as compared to Rs 2,009 crore reported a year ago. Check out key highlights here

ITC declines 5%, tobacco pack trades mixed

ITC share price declined nearly 5 percent after the government formed a committee for future taxation policy for tobacco. Different tobacco stocks reacted differently to the news. Dig deeper

First US futures-based Bitcoin ETF begins trading, Bitcoin nears record

The first US Bitcoin futures-based exchange-traded fund began trading on Tuesday, sending bitcoin to a six-month high and within striking distance of its all-time peak. Read on

INDIA

At least 28 dead as rains wreak havoc in Uttarakhand; Nainital cut off from rest of state

At least 28 people died in Uttarakhand on Tuesday as incessant rain continued to lash various parts of the state, especially Kumaon region, razing houses to the ground and leaving many trapped in the debris.