Business Live: Shares rise as state-run banks gain on capital infusion hopes

The benchmark stock indices have opened with significant gains this morning capitalizing on Friday’s momentum.

Join us as we follow the top business news through the day.

10:20 AM

Read, compare and decide

We are usually at an information disadvantage while buying financial products.

This asymmetry of information, as it is called, comes on top of our own disregard to seeking information. There is also hesitation that we may not understand it. There is also partial information and misinformation we often receive and then, there is poor application of mind when we do receive it.

The Internet is a great leveller with regard to information and just made for insurance, so to speak.

We are right in the middle of a public health crisis that has made us buy and pay for everything from vegetables to white goods online. Work, studies and entertainment have all embraced the digital way. Online banking is now quite mainstream and insurance need not be very far behind.


10:00 AM

Indian shares rise as state-run banks gain on capital infusion hopes

The benchmark stock indices are carrying on their momentum from Friday’s session.

Reuters reports: “Indian shares rose on Monday, boosted by state-owned banking stocks on hopes that the government may infuse some capital into the sector as early as the coming quarter, with gains in Asian markets aiding sentiment.

The broader NSE Nifty 50 index rose 0.5% to 11,105 and the S&P BSE Sensex climbed 0.6% to 37,610.34 by 0346 GMT. Both the indexes fell nearly 4% last week, marking their worst week since early-May.

The public sector bank index gained 1% after a report said that the finance ministry may provide capital support to some public sector banks in the third quarter.

Shares of Lakshmi Vilas Bank Ltd fell 4.7% after the lender’s shareholders on Friday rejected the reappointment of seven directors, including the managing director and chief executive, and India’s central bank appointed a committee to run the bank. ( (

Meanwhile, MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%.”

9:30 AM

Neutrality must for platforms, app stores and devices, says outgoing TRAI chief

Just as principles of net neutrality have been applied to telecom networks, neutrality of platforms, app stores, operating systems, and devices are crucial aspects that will need to be examined and ensured in the digital era, outgoing TRAI chief RS Sharma has said.

Mr Sharma termed this as a “new frontier” that merits attention, and emphasised that ‘neutrality’ is important to ensure that devices, operating systems and digital platforms don’t emerge as “new gatekeepers” or exercise arbitrary controls.

“Who will get into that area…I am not saying whether Trai should do it, or who someone else…I am saying neutrality of devices, operating systems and platforms is something that should be examined and ensured,” he told PTI.


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