Moneycontrol Selects: Top stories this evening

Most important news stories at Moneycontrol Selects (Representative Image)

Here is a collection of the most important stories this evening:

Rajeev Chandrasekhar backs moonlighting, says companies should not put lid on employee dreams

Union Minister of State for Electronics and Information Technology and Skill Development Rajeev Chandrasekhar on September 23 supported moonlighting, saying that companies should not put a lid on employees' dreams. These comments come at a time when software major Wipro has fired 300 of its employees for moonlighting and peer Infosys has warned its personnel that moonlighting could lead to termination of their jobs.

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MPC's Ashima Goyal says CPI basket needs to be updated

Writing in a paper, the external member of the Reserve Bank of India's rate-setting panel, Ashima Goyal, said the inflation measure has to be reliable, which requires frequent updates to the Consumer Price Index basket.

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Taking Stock | Third straight day of losses, market squanders 2022 gains

The Indian market extended losses to the third day on September 23 on weak global cues as the US Federal Reserve’s hawkish stance continued to roil sentiment and added to worries about the global economic outlook. Intensive selling across sectors and rupee plunging to a new low saw the market erase all the gains made this year.

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Rupee may fall to 82 to a dollar this year but RBI unlikely to defend aggressively, say currency experts

The Indian rupee may slide to 82 per dollar this year on account of hawkish US Federal Reserve and global recessionary fears, according to most of the six forex market experts Moneycontrol spoke to this month. Wider trade deficits, narrowing India-US interest rate differential and the possibility of rising crude oil prices are also set to keep the rupee under pressure, they said. However, faced with dwindling forex reserves, the Reserve Bank of India (RBI) may not be aggressive in defending the Indian currency and allow it to catch up with other emerging market (EM) currencies that have dropped more.

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Despite correction and uncertainty, Harsha Engineers still boasts a premium in the grey market

Shares of Harsha Engineers International continued to enjoy a healthy trading premium in the grey market ahead of the company’s listing, though it is down by 20-25 percent in the last couple of days amid significant corrections and an uncertain environment in the secondary market. The company will make its debut on the bourses on September 26 in the last listing of the month.

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NBFCs must have 'zero tolerance' for strongman recovery tactics, bankers say

The Hazaribagh mishap, where a woman was crushed under a tractor forcibly being driven away by a loan recovery agent, could deter non-banking finance companies (NBFCs), especially large ones, from using strongman practices for recovery of loans, senior bankers say.

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Draft telecom bill an attack on end-to-end encryption, say digital rights groups
Groups such as United States-based Access Now and India's Internet Freedom Foundation and Software Freedom Law Centre have taken a uniform stand against the draft telecommunications bill which aims to supersede India's telecom regulatory framework which is currently based on a more than 100-year-old law.

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