Moneycontrol Selects: Top stories this evening

Representative image. Source: Shutterstock

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

Sebi working on rules to govern financial influencers on social media

The market regulator is putting together rules to govern the growing base of financial influencers who put out advice on social media, a top official said. There has been a spurt of online influencers in India doling out financial and investment advice even though they may not be qualified to do so. The impact of such influencers has been detrimental at times, especially in the case of recent startup listings.

Read here to know more

Equitas SFB zooms after RBI approves DSP Investment Managers' bid to acquire 10% stake

Shares of Equitas Small Finance Bank zoomed after the company said that the Reserve Bank of India (RBI) has approved DSP Investment Managers Private Ltd (DSPIM) bid to acquire up to a 9.99 percent stake in the lender.

Read here to know more

Asia to clock higher growth than the US in FY23, says Chetan Ahya of Morgan Stanley

Morgan Stanley is bullish on Asian countries and expects them to clock a higher growth than the United States in FY2023. Chetan Ahya, Chief Asia Economist, Morgan Stanley, told CNBC-TV18, that he believed Asia would outperform the US in the current financial year on the back of domestic demand, as he also discussed India's inflation dynamics and export outlook.

Read here to know more

Rishi Sunak's govt unveils UK emergency budget amid big demands but little cash

British Prime Minister Rishi Sunak faces the challenge of balancing the nation's budget while helping millions of people slammed by a cost-of-living crisis as Russia's war in Ukraine pushes up energy prices and slows economic growth. The emergency budget statement aims to restore the government's financial and political credibility after former Prime Minister Liz Truss announced 45 billion pounds ($53 billion) in unfunded tax cuts that torpedoed investor confidence, sent the pound to record lows against the U.S. dollar and sparked emergency central bank intervention.

Read here to know more

Negative credit conditions to make 2023 challenging for emerging markets: Moody's
Emerging markets will face a difficult economic and financing environment that will permeate to sovereigns, companies and banks in 2023, said credit ratings agency Moody's in its 2023 Outlook Report.

Read here to know more

Five Star Business Finance IPO share allotment expected today, here's how to check status online

Non-banking finance company Five Star Business Finance is expected to announce its share allotment on November 17 evening. Those who subscribed to the offer can check their allotment status online either on the BSE website or the portal of the IPO registrar by following three easy steps.

Read here to know more

Bankruptcy Board chief asks banks to initiate proceedings soon after NPA classification

Banks should initiate the process of taking a defaulter to the bankruptcy court as soon as the loan account is classified as a non-performing asset (NPA), Insolvency and Bankruptcy Board of India (IBBI) chairperson Ravi Mital says. According to Reserve Bank of India (RBI) norms, if the interest or principal is overdue for 90 days or three months and above, banks have to classify a loan account as NPA.

Read here to know more