The Reserve Bank on Monday put restrictions on limits of urban co-operative banks' exposure to single and group borrowers of 10% and 25%, respectively,&nbsp;of their Tier I capital. It also added that at least 50% of their loan portfolio shall comprise loans not more than ₹25 lakh per borrower. The central bank also increased priority sector lending targets for urban co-operative banks to 75% of adjusted net bank credit. This came following&nbsp;the PMC&nbsp;Bank crisis.&nbsp;

The Reserve Bank on Monday put restrictions on limits of urban co-operative banks' exposure to single and group borrowers of 10% and 25%, respectively, of their Tier I capital. It also added that at least 50% of their loan portfolio shall comprise loans not more than ₹25 lakh per borrower. The central bank also increased priority sector lending targets for urban co-operative banks to 75% of adjusted net bank credit. This came following the PMC Bank crisis.

The Reserve Bank of India told the Supreme Court that&nbsp;it had not banned cryptocurrencies such as Bitcoin in India, but only ring-fenced regulated entities like banks from risks associated with their trading, the Economic Times reported.
The RBI said this in a response to a petition filed by the Internet and Mobile Association of India in the apex court, which wanted it to reconsider a 2018 circular directing regulated entities not to deal in cryptocurrencies.
&nbsp;

The Supreme Court on Tuesday said a bench headed by Justice Arun Mishra will next week hear the plea of telecom companies seeking a fresh schedule on the payment of dues to the Department of Telecommunications.&nbsp;On January 16, the apex court had dismissed review petitions of telecom companies of the earlier order which asked them to pay ₹92,000 crore in statutory dues by January 23.

The Department of Telecom has raised a demand of ₹48,457 crore as AGR (Adjusted Gross Revenue) dues from Oil India to be paid by January 23, a news agency reported.
Many PSU and government entities such as Oil India, NHAI, Indian Railways and Power Grid Corporation use optic fibre from the DoT's networks.&nbsp;
Earlier state-owned natural gas processing and distribution company AGAIL was issued a ₹1.72 lakh crore payment demand under AGR.
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The Commerce Ministry's proposal to reduce the quota for purchasing liquor at duty-free shops to one bottle has left private airport operators in a tizzy. Reports quoted private airport officials who that the proposal, if accepted by the Finance Ministry, would hit newcomers such as Zurich Airport International and Adani Enterprises.&nbsp;As per an estimate, liquor accounts for 60-65% of total sales at duty-free shops at international airports.&nbsp;While Zurich has bagged the contract to build the Greater Noida airport, Adani has successfully won the right to upgrade and manage six international airports, including Ahmedabad, Lucknow and Jaipur.
&nbsp;

The Supreme Court dismissing Airtel&nbsp;&amp; Vodafone's review petitions poses a stiffer challenge to Vodafone Idea's survival compared to&nbsp;Airtel.
Airtel has prepared itself with funds to meet the payments on time, according to&nbsp;ICICI Securities Limited and the telecom&nbsp;giant also&nbsp;reportedly raised capital of US $3 bn last week.&nbsp;Meanwhile, Vodafone&nbsp;Idea promoters have already mentioned that if the entire AGR liability has to be paid, they will have to shut shop in India.&nbsp;
Apart from other stakeholders in Vodafone&nbsp;Idea, the government too could be one of the most impacted parties if the company shuts down, as it is owed ₹90,000 crore in deferred spectrum dues, besides the AGR liability. Analysts also see indirect impact on public sector banks if Vodafone&nbsp;fails to cough up the money.

Equity markets on Monday fell sharply as the Sensex slumped 416.46 points to settle at 41,528.91 while Nifty fell almost 1% to 12,230. In early trade, the Nifty hit 12,400 level for the first time when it rose 78 points to 12,430 at day's high. Similarly, the Sensex registered a new high of 42,273. Analysts believe banking stocks and heavyweights like Reliance&nbsp;dragged the markets down. 
&nbsp;

In a bid to achieve its target of $5 trillion economy,&nbsp;Finance Minister Nirmala Sitharaman on Sunday said the government is moving in a direction where the law does not look at business enterprises with suspicion.
Delivering the Nani Palkhivala Centenary Celebrations Lecture on 'Road Map to $5 Trillion Economy', the Finance Minister said her earnest attempt is to decriminalise matters concerning the Companies Act.

Reliance Jio has become the largest telecom operator in India, adding 5.6 million mobile subscribers in November to take its total to 369.93 million and holding a 32.04% share in the Indian mobile services market.
As per TRAI subscriber data, Bharti Airtel also increased its market share in November, adding 1.65 million mobile users in the month to end with 327.30 million users that gave it a 28.35 per cent market share.
But the wireless telecom subscriber base reduced by 28.8 million in November as&nbsp;Vodafone Idea lost 36.41 million subscribers.
&nbsp;

IT major&nbsp;TCS&nbsp;on Friday reported a 0.2% year-on-year growth in its net profit to ₹8,118 crore for the quarter ended December 31, 2019.
Revenues rose 6.7% y-o-y to&nbsp;₹39,854 crore,&nbsp;led by life sciences and healthcare businesses which saw 17.1% y-o-y growth.
The IT firm announced an interim dividend of ₹5 per share for the quarter. The record date for the dividend is set as January 25, while the payment date is fixed at January 31.
&nbsp;

Piramal Enterprises on Friday announced that it&nbsp;would sell Decision Resources Group, its healthcare&nbsp;insight and analytics business&nbsp;to&nbsp;New York Stock Exchange-listed&nbsp;Clarivate Analytics Plc for&nbsp;$950 million.&nbsp;
Clarivate Analytics is a global leader in providing trusted insights and analytics.&nbsp;This transaction is subject to shareholder approval and is expected to be completed by end February, 2020.&nbsp;
Piramal&nbsp;Enterprises had initially invested $650 million in 2012 to acquire DRG&nbsp;out of which $260 million was infused as equity. It has reaped over double its initial equity investment.
&nbsp;

Reliance Industries on Friday reported its highest-ever quarterly consolidated net profit at Rs 11,640 crore for the third quarter ended December 31, up by 13.5% from the year-ago period.
However, its total revenue declined 1.4% over previous year to ₹1.68 lakh crore.&nbsp;
Gross refining margins (GRM) for the quarter stood at $9.20 per barrel against $8.8 reported for the same period last year.
The company&rsquo;s telecom unit Jio posted a 62.45% yearly jump in profit at ₹1,350 crore for the quarter on an average revenue per user of ₹128.40 per month.
&nbsp;

The Dow and S&amp;P 500 edged to records on Wednesday following a volatile session after the US and China signed a long-awaited trade agreement. The Dow Jones Industrial Average gained 0.31% to finish at 29,030.22, and the broad-based S&amp;P 500 added 0.19% to 3,289.30.

After hitting a record peak of 42,009.94, the Sensex&nbsp;was trading 25.02 points or 0.06% down&nbsp;at 41,847.71. Similarly, the broader NSE Nifty scaled a lifetime intra-day high of 12,377.80, however it later fell as it was trading 11.45 points or 0.09% in red at 12,331.85.
Equity benchmarks hit record peak in opening session tracking positive cues from global stock markets as the US and China signed an initial trade deal.
The rupee depreciated&nbsp;8 paise to&nbsp;70.90 against the US dollar after a strong opening.

Bharti Airtel&nbsp;on Wednesday informed exchanges that it has raised ₹14,400 crores (around $2 billion) from qualified institutional buyers at ₹445 per share which is a discount of 1.57% to the floor price of ₹452.09.&nbsp;The amount raised will be used for payment of statutory dues and capital expenditure. The telecom major is battling statutory dues of over ₹35,500 crores after Supreme Court&rsquo;s judgment on adjusted gross revenue (AGR) in October.

The Bombay High Court on Wednesday set up a three-member committee for valuation and sale of encumbered assets of Housing Development and Infrastructure Ltd (HDIL) to expeditiously recover dues payable by the firm to crisis-hit Punjab &amp; Maharashtra Cooperative (PMC) Bank.&nbsp;The encumbered assets are valued at ₹11,000 crores.&nbsp;The fraud at PMC Bank came to light in September last year after the RBI discovered that the bank had allegedly created fictitious accounts to hide over ₹4,355 crores of loans extended to almost-bankrupt HDIL.

Yes Bank will hold its Extraordinary General Meeting (EGM) on February 7. According to a release, the bank stated it will seek shareholders' approval to raise its authorised share capital to ₹1,100 crore at the EGM.
The lender's board, on January 10,&nbsp;approved&nbsp;a plan to raise fresh capital of ₹10,000 crore via a mix of debt and equity. It also turned down Canadian industrialist Erwin Singh's $1.2 billion investment bid.

Reliance Jio&nbsp;has emerged as the top bidder to acquire assets of insolvent Reliance Communications according to a PTI report. RCom assets have received bids of around&nbsp;₹25,000 crore with Reliance Jio and UV Asset Reconstruction Company (UVARC). However, this amount is less than ₹49,000 crore&nbsp;demanded by RCom's&nbsp;creditors.
RCom was forced to shut its wireless operations late 2017, hurt by mounting debt and widening losses amid intense competition in the telecom sector after Jio&rsquo;s entry in September 2016.
RCom&nbsp;shares hit upper circuit on Wednesday at ₹0.85 on both BSE and NSE.&nbsp;

The United States has removed the currency manipulator label it imposed on China last summer, in a sign of easing tensions between the two economic powers after nearly two years of conflict. Just two days before President Donald Trump is set to sign a 'phase one' trade agreement with China, the US Treasury said in its semi-annual report to Congress that the Yuan, also known as Renminbi, has strengthened and Beijing is no longer considered a currency manipulator.

After rallying nearly 300 points to its record intra-day high of 41,899.63, the Sensex settled at a new closing peak of 41,859.69, up 259.97 points, or 0.62%. Likewise, the broader Nifty scaled its lifetime intra-day high of 12,337.75, before ending at 72.75 points, or 0.59%, higher at 12,329.55 - its new closing peak.
According to traders, besides positive quarterly numbers from Infosys, positive domestic macro data and firm global cues boosted market mood here.
The rupee appreciated 12 paise&nbsp;during the day to 70.82 per US dollar.&nbsp;

Uttam Agarwal, who recently resigned as the independent director from the Yes Bank board and head of the audit committee, has filed a complaint with the Securities and Exchange Board of India or SEBI,&nbsp;seeking a probe into 'the illegal gains made by a certain set of people' in giving misleading information to the markets and the people on potential investors, including Citax and Erwin Singh Braich.
Agarwal resigned on Friday citing 'serious concerns' on the state of affairs&nbsp;of the private sector lender and deteriorating practices.

RBI directs revised loan exposure targets for co-operative banks

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