India's unemployment rate in the month of October has jumped to 8.5%, which is the highest in over three years. Fresh data released by the Centre for Monitoring Indian Economy (CMIE) showed that the rise in India's unemployment rate in October was the highest since August 2016. While the government has been announcing a pool of measures to increase demand, the slowdown in jobs is being seen as the impact of slowdown in the country's economic growth.

&nbsp;Indian banks are likely to take significantly more loan write-offs to reduce bad loans, against a backdrop of rising provisions and weak recovery prospects.&nbsp;
Fitch Ratings said&nbsp; state-owned banks account for around 90 percent of impaired loan stock, and have cumulatively written off nearly 30 billion dollars in bad loans, in the past three years.
The ratings agency believes FY20 has been characterized by overall weaker loan growth&nbsp; and slow resolution of legacy impaired loans.&nbsp;

State-owned oil giant Saudi Aramco's&nbsp;IPO will be the biggest in history.&nbsp;
Aramco&nbsp;has priced its IPO at 32 riyals or $8.53 per share, the top of its range. At that price , Aramco has a market valuation of $1.7 trillion, comfortably overtaking Apple as the world's most valuable listed firm.&nbsp;
However it will still fall significantly short of the towering 2 trillion dollar valuation sought by Crown Prince Mohammed bin Salman. , Saudi Arabia had to turn to&nbsp;domestic and regional investors&nbsp; after it got lukewarm interest from abroad.&nbsp;

Funds swindled by&nbsp;&nbsp;Nirav Modi&nbsp;could be much higher than earlier estimates.
Reports indicate&nbsp;the forensic examination of the multi-billion-dollar fraud that hit Punjab&nbsp;National&nbsp;Bank last year, could be much higher if&nbsp;all related records and value of loans taken by him are considered.&nbsp;
Nirav&nbsp;Modi&nbsp;was declared a fugitive economic offender. The declaration will lead to all his&nbsp;assets being attached.&nbsp;

The panel for shoring up what has been a slow goods and services tax&nbsp;collection, could be examining slab restructuring.&nbsp;
Part of the changes may include increasing the 5 per cent rate to 6 per cent to begin with &mdash; a move that can result in additional revenues of Rs 1,000 crore per month. The 5 per cent slab covers essential commodities like basic clothing, footwear, and food items.
The panel is also looking at bringing under GST, items like foodgrains that faced either value-added tax or purchase tax. &nbsp;
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The Rajya Sabha on Thursday gave its consent to the Taxation Laws (Amendment) Bill, 2019, replacing an ordinance that was used to slash corporate tax rates to stimulate growth. As per rules, the Rajya Sabha cannot amend money bills but can recommend amendments. A money bill must be returned to the Lok Sabha within 14 days, or the bill is deemed to have passed both houses in the form it was originally passed by the Lok Sabha.
 "Cutting down corporate tax is not just good for headlines ,not just good PR, not just good atmospherics, it's good reform.This govt now in 2nd term,after taking up lot of reformatory steps in 1st term is committed to further reforms,"&nbsp;Nirmala Sitharaman&nbsp;said.

Home Minister Amit Shah on Thursday held a meeting with Union Ministers and top officials to discuss the rising onion price.&nbsp;Those who attended the meeting include Railway Minister Piyush Goyal and Agriculture Minister Narendra Singh Tomar.&nbsp;Cabinet Secretary Rajeev Gauba and Advisor to Prime Minister PK Sinha were also present in the&nbsp;meeting. The meet comes as onion prices have touched a record ₹150 in some parts of the country.

Billionaire diamond merchant Nirav Modi has been declared a fugitive economic offender by a Mumbai court. Modi is the second person, after Vijay Mallya, to be charged under the anti-fraud law that was passed last year. Nirav Modi, who is accused of defrauding Punjab National Bank of ₹11000 crores, is currently in a London prison, fighting extradition to India.

The&nbsp;Ujjivan&nbsp;Small Finance Bank IPO saw 170x demand over the number of shares on offer.
Ujjivan SFB is a wholly owned subsidiary of Ujjivan Financial Services and the&nbsp;price band for the issue was Rs 36-Rs 37 per share.&nbsp;
Market players feel an encouraging listing day performance by new listings like&nbsp;IRCTC and CSB Bank have attracted investors .
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The Reserve Bank cut it's&nbsp;&nbsp;GDP growth forecast to 5% from it's previous estimate of&nbsp; 6.1% for FY20. Growth targets for the second half were also lowered to&nbsp;4.9-5.5%.&nbsp;
The MPC&nbsp;noted that&nbsp; economic activity has weakened further and a delay in domestic demand revival is a downside risk for GDP&nbsp;growth.&nbsp;
What is worrying is that the&nbsp;RBI&nbsp;&nbsp;raised the inflation forecast for the second half of the year to between 5.1-4.7%. The&nbsp;MPC said the inflation outlook is likely to be influenced by several factors and expectations for both 1 year and 3 month inflation had risen sharply because of high vegetable and pulses prices.&nbsp;
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In a surprise move, the Reserve Bank monetary policy committee voted unanimously to keep repo and reverse repo&nbsp;rates on hold.&nbsp;
The MPC&nbsp;voted 6-0 in favour of keeping the repo rate unchanged at 5.15% and the reverse repo&nbsp;rate at 4.9%.&nbsp;
However, the Committee said they recognised there was monetary policy space for future action and the stance remained accomodative.&nbsp;

The board of&nbsp;Bharti Airtel&nbsp;has approved a plan to raise up to $3 billion via the debt and equity route.
Of the total amount,&nbsp;$2 billion will be raised via a qualified institutional placement&nbsp; or&nbsp;QIP. The remaining amount may be raised through the issuance of&nbsp;&nbsp;foreign currency convertible bonds&nbsp;&nbsp;or other similar security denominated in foreign currencies.&nbsp;
The stock was trading with losses .&nbsp;

Reliance Jio Infocomm&nbsp;revealed its new tariffs of its &lsquo;All in One&rsquo; plans with unlimited voice and data services.
The new tariffs range from Rs 199 a month to Rs 2,199 for one year.
The new rates will come into effect from the 6th of December .&nbsp;Jio's new tariff plans have been kept at a differential of Rs 50 from most of the incumbents' tariff plans, effectively keeping Jio's plans almost 25 per cent cheaper.
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The committee of creditors&nbsp;will meet soon to discuss Bharti Airtel&rsquo;s offer to pay Rs 3,000 crore for &nbsp;Reliance Communications&nbsp;, Reliance Telecom, and&nbsp;Reliance Infratel.&nbsp;
All three Anil&nbsp;Ambani&nbsp;firms&nbsp;are undergoing the insolvency process.
News reports indicate&nbsp;Airtel has offered about Rs 1,050 crore for RCom and Reliance Telecom&nbsp;and&nbsp;Rs 1,900 crore for&nbsp;Reliance Infratel.
Meanwhile,&nbsp;Reliance Jio has reportedly offered Rs 3,600 crore within 60 days to buy Reliance Infratel.

Fugitive diamantaire Nirav Modi, fighting extradition to India on charges over the nearly $2 billion PNB&nbsp;fraud and money laundering case, was further remanded in custody at a hearing on Wednesday.&nbsp;Modi appeared for his regular 28-day "call-over" appearance from London's Wandsworth prison at Westminster Magistrates' Court, where the Judge reconfirmed that his extradition trial will begin on May 11 next year and will last five days. The judge also decided that Modi will appear via videolink on January 2, 2020. Meanwhile, he must appear before the court every 28 days.

Finance ministers of states met Union Finance Minister Nirmala Sitharaman to vent their displeasure over the delay in release of GST compensation to states. The finance ministers of Delhi, Punjab, Puducherry and Madhya Pradesh and representatives from Kerala, Rajasthan, Chattisgarh and West Bengal who attended the meeting, said it is embarrassing to come to Delhi and ask for money. States claim the delay has put them in an acute financial position, due to which they are unable to pay schools, hospitals and pensions on time. States haven&rsquo;t been paid GST compensation for August-September and the October-November payout will also be due after December 10. Under the Constitution Amendment Bill, states were guaranteed compensation for 5 years to offset tax revenue shortfall.

The Foreign Direct Investment inflow into India has increased in the last fiscal in comparison to previous years with $62 billion foreign investments in 2018-19. Commerce Minister Piyush Goyal told the Lok Sabha on Wednesday that the total FDI inflow in 2018-19 was $62 billion, compared to $60 billion in 2017-18, and $55 billion in 2015-16.

India's services sector seemed to bounce back to growth in November, expanding at its fastest pace in four months.&nbsp;
The Nikkei Purchasing Managers' Index rose to 52.7 last month from 49.2 in October, above the 50-mark separating contraction from growth on a monthly basis.
Growth was apparently driven by a strong pick-up in new business.&nbsp;

The Centre may sell minority stakes in half-a-dozen central public sector enterprises , including&nbsp;Coal India&nbsp;and&nbsp;Cochin Shipyard&nbsp;via the offer for sale or&nbsp;OFS&nbsp;route.
Other firms could include&nbsp;Hindustan Aeronautics,&nbsp;Bharat Dynamics,&nbsp;Mishra Dhatu Nigam&nbsp;and Garden Reach &amp; Shipbuilder Engineers.
Finance minister Nirmala Sitharam has reportedly given &lsquo;in-principle&rsquo; approval for these issues.&nbsp;
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The cabinet today gave&nbsp;approval for the creation and launch of an umbrella bond ETF proposal.
The aim of the bond ETF&nbsp;is&nbsp;to diversify the investor base and help the government, corporates and individual investors&nbsp;raise capital from the debt market.&nbsp;
Through this, investors can &nbsp;buy bonds for government organisations. Units will not be valued more than Rs 1,000 each.&nbsp;
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Telecom operators have proposed for the sector regulator TRAI to fix a minimum price for mobile internet, as no company is in a position to decide on it themselves, due to fierce competition in the market.&nbsp;
The statement was made by&nbsp;industry body COAI&nbsp;.&nbsp;However, private telecom operators want call rates to continue to remain unregulated
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Joblessness in October rises to 8.5%, highest in over 3 years

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