Ahmedabad: The Bharatiya Janata Party (BJP) on Friday released its election manifesto called Sankalp Patra (vision document) for Gujarat just a day before polling for the first phase of Gujarat elections on 9 December.

Union finance minister Arun Jaitley, while releasing the BJP manifesto in Ahmedabad, criticized the Congress’s promises on reservation and financial concessions in its manifesto as “constitutionally impossible” and “financially improbable if not impossible”.

London/Tokyo: Bitcoin lost almost a fifth of its value in 10 hours on Friday, having surged more than 40% in the preceding 48 hours, sparking fears the market may be heading for a price collapse.

In a hectic day on Thursday, bitcoin leapt from below $16,000 to $19,500 in less than an hour on the US-based GDAX, one of the biggest exchanges globally, while it was still changing hands at about $15,900 on the Luxembourg-based Bitstamp.

Mumbai: The Indian rupee on Friday strengthened against the US dollar after local equity markets gained for second sessions.

The home currency ended at 64.46 a dollar, up 0.18% from its Thursday’s close of 64.57. The rupee opened at 64.55 a dollar and touched a high and a low of 64.45 and 64.59, respectively.

Observing that a lot of improvement is needed in corporate governance framework, Sebi whole time member G Mahalingam has called for more research work on this issue particularly in the area of board evaluation.

“Lot more research and work can be done in the area of corporate governance. Recently Uday Kotak came out with its set of regulations. What are the areas in corporate governance that need improvement is a fertile area for research,” Mahalingam said here late last evening.

Microsoft has released a security patch to fix a flaw in its Windows Malware Protection Engine that, if left untreated, can exploit a memory corruption error in the malware scanning tool and hack your system. The bug in Malware Protection Engine was discovered by the UK’s National Cyber Security Centre. The vulnerability (CVE-2017-11937) can affect systems running Windows 7, 8.1, 10 and Server 2016. A similar flaw was found by Tavis Ormandy, security researcher for Google’s Project Zero, in June this year.

Private sector lender HDFC Bank has seen no impact on the provisioning front due to exposures to the “couple of companies” featuring in the Reserve Bank of India’s (RBI) lists of loan defaulters, the bank’s deputy managing director, Paresh Sukthankar, told FE. In an exclusive interview, Sukthankar said no further provisioning was needed for those accounts as the bank had already set aside the required provisions. “Actually, we had a couple of names from both first and second lists and we do not require further provisions, because these are already NPAs in our book,” he said.

NEW DELHI: The government is considering to raise the protection on bank deposits from the current Rs 1 lakh when the Financial Resolution and Deposit Insurance (FRDI) Bill is taken up for final drafting, highly-placed sources said.

At present, each depositor is protected only up to a limit of Rs 1 lakh by the guarantee of the Deposit Insurance and Credit Guarantee Corporation (DICGC).

Debt-ridden Air India sought to raise short term loans around Rs 1500 crore. The national carrier is looking for funds to meet the urgent working capital needs.

According to the report in the Economic Times, this is the third time since September that the disinvestment-bound national carrier is seeking bridge loan. In September, it had mopped up Rs 3,250 crore and in October Rs 1,500 crore.

The ‘banker to every Indian’, State Bank of India, is now behind the carmaker for every second Indian, Maruti Suzuki, in market capitalisation.

At a market cap of Rs 2,73,106 crore, the Suzuki-promoted carmaker is now the sixth most valued company in the country.

The BSE benchmark Sensex rallied a little more than 300 points for a second day, buoyed by a sharp rally in global equities and expectation of a Bharatiya Janata Party (BJP) victory in the Gujarat election.

The election in Prime Minister Narendra Modi’s home state is seen as a key test for his party, ahead of the general election in 2019. Market players see a BJP win as positive, for continuation in policymaking and reform.

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