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Moneycontrol Selects: Top stories this evening

Our specially curated package of the most interesting articles to help you stay at the top of your game.

August 05, 2022 / 06:18 PM IST
Here are the most interesting articles this evening (Representative image)

Here are the most interesting articles this evening (Representative image)

Here are the top stories this evening:

RBI Policy | Another 50 basis point hike done, so what's next?

A 50 basis point (bp) hike in repo rate shows the singular focus on inflation of the monetary policy committee (MPC). With this, the MPC has hiked the repo rate -- at which the RBI lends short term funds to banks -- by a total of 140 bps in the current rate hike cycle. The key takeaway from Das's speech today is that high inflation could destablise the economy. Also, don't miss the emphasis on the withdrawal of accommodative policies. So, what's next?

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ED raids on WazirX Director, assets worth Rs 64.67 crores frozen

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The Enforcement Directorate on August 5 conducted searches at the premises of one of the directors of Zanmai Labs Private Limited, which owns and operates cryptocurrency exchange platform WazirX. Assets worth Rs 64.67 crores have been frozen. The central agency took action against the WazirX Director for assisting the accused instant loan app companies in the laundering of fraud money via the purchase and transfer of virtual crypto assets, news agency ANI reported.

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Taking Stock | Sensex, Nifty end the week in green after RBI's 50bps rate hike

Tracking positive global cues from the US and Asian markets, the Indian stock market opened on a positive note with gains of ~0.2 percent. The market initially shrugged off the 50 bps rate hike and made further gains, but in the afternoon session, it lost steam leading to rangebound trading.

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Errors in your credit information report? File a complaint with RBI’s integrated ombudsman

For long, individual borrowers have often complained of discrepancies in their credit reports issued by credit information companies (CICs), which result in financial setbacks. For instance, loan applications being rejected or poor credit score making them ineligible for best interest rates from financial institutions. Now, such borrowers can lodge such grievances against credit information companies (CICs) with the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS) 2021.

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State of Real Estate: Abandoned construction sites, undelivered homes, shattered dreams

Delays have been the bane of India’s real estate sector over the past decade. It is fairly common for builders to postpone projects citing financial strain or labour challenges, which only result in hardships for homeowners who continue to pay back loans and live on rent while waiting for their dream homes.

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Bet on these 12 rate-sensitive stocks for a possible return of 10-22%

Here is a list of rate-sensitive stocks that experts say can return between 10-22 percent over the next 3-6 months.

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Exclusive: New bill on competition law to give more power to regulator on seizures and raids

Broaden the scope of anti-competitive agreements. Speedier approvals of mergers and acquisitions (M&As). Reduce litigations. Incentivise parties during an investigation with lesser penalty in exchange for information. These are some of the changes introduced in Competition (Amendment) Bill, 2022 in Parliament designed to bring sweeping changes to India’s Law, setting new checks on abuse of dominance, purchase of controlling stakes and M&A agreements by companies.

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Swiggy, Unacademy, Meesho founders meet top public market investors in Bengaluru

India’s top mutual fund managers, managing assets worth over $250 billion, met founders and top management officials of some of the country’s largest unicorns such as Swiggy, Unacademy, and Meesho among others in Bengaluru, earlier this week, according to people aware of the matter. The meeting comes at a time when many unicorns, over the last two years, had openly talked about getting publicly listed in the medium term.

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