Today’s top business news: Stocks rise after Wall Street hits new high, Fitch Solutions revises forecast for Indian rupee, Tatas likely to be serious bidder for AI, and more
The benchmark stock indices have opened the first day of trading in 2021 on a positive note as the bull run continues into the new year.
Join us as we follow the top business news through the day.
2021 looks a lot like 2020
Poll-bound Assam’s MFI Bill, Congress’ loan waiver promise a ‘moral hazard’: Report
The microfinance industry continues to face regulatory risk.
PTI reports: “The passage of a Bill to control the microfinance industry and the Congress party’ loan waiver promise if voted to power in the April 2021 polls in Assam is a “moral hazard”, according to a report.
With West Bengal also headed for elections, the report by Kotak Institutional Equities warned that such loan waivers can have many adverse outcomes for the finance industry because the quantum of outstanding loans is much higher.
In Assam, the current Assembly has set aside