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Reserve Bank of India (RBI) has released its annual report for 2021-22 on Friday. It covers the working and functions of the central bank for the period from April 2021 to March 2022.

The report has warned negative externalities are already rippling through financial and commodity markets and surging food and fuel prices are impacting the disadvantaged adversely. Therefore, the global recovery is expected to suffer a significant loss of momentum in 2022.

In this edition of Top News Podcast, CNBCTV18.com’s Kanishka Sarkar shares the latest on stock markets, the economy, the Mumbai cruise drugs case and Prime Minister Modi’s take on drones, and more.

On a day when the Indian market made a sort of recovery, Indian oil producers were under pressure and traded in the red. It’s because the UK government on May 26 announced a 25 percent windfall tax on profits of oil and gas companies with crude surging over 50 percent in 2022 so far. There is speculation that the Indian government may take similar steps.

This seems to have made investors nervous and it’s being reflected in the stock movement of all the oil and gas majors like ONGC, Oil India, Reliance, and Vedanta.

Meanwhile, the Narcotics Control Bureau (NCB) gave a clean chit to Aryan Khan, son of Bollywood actor Shah Rukh Khan, in the October 2021 'drugs on cruise' case in which he was arrested last year.

Tune in to Top News Podcast for more

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