News wrap Jan 28: Bad Bank gets RBI nod; V Anantha Nageswaran appointed CEA; IMF warns of more stock selloff in US and more

The National Asset Reconstruction Company Ltd (NARCL) and the India Debt Resolution Company Ltd (IDRCL) have received the approval of the Reserve Bank of India (RBI) just ahead of the Union Budget 2022. In relief for SpiceJet, the Supreme Court on Friday gave the airline three weeks' time to resolve its financial dispute with Swiss firm Credit Suisse AG. On the global front, the International Monetary Fund has warned of more profit booking in the US stock market. Here are some more top news of the day

India's very own Bad Bank is now live, with all approvals now in place to set up the National Asset Reconstruction Company Ltd (NARCL) and the India Debt Resolution Company Ltd (IDRCL) in place. Check more details

The Narendra Modi government on Friday appointed V Anantha Nageswaran as the chief economic advisor in the union finance ministry, as reported by CNBC-TV18 earlier. Know more

Gautam Duggad, Head of Research-Institutional Equities, Motilal Oswal Financial Services and Samiran Chakraborty, Chief Economist-India, Citi shared with CNBC-TV18 whether the budget will provide ingenious means to boost consumption and how can the government can do it. Check details

Dalal Street began the February futures & options (F&O) series on Friday, a day after the Nifty50 index ended the January series with a loss of 93.8 points or half a percent. Read more

The International Monetary Fund (IMF) has warned of further selloff of stocks in the US, particularly in highly valued sectors, in the wake of a sudden and substantial rise in interest rates. Read more

Punjab National Bank (PNB) shares surged over 3 percent Friday after posting a 123 percent spike in net profit. Morgan Stanley has an equal-weight rating on PNB shares at a target price of Rs 53, up over 30 percent from its current market price. Read more

The Supreme Court on Friday granted three weeks' time to SpiceJet to resolve its financial dispute with Swiss firm Credit Suisse AG. Read more

Union Home Minister Amit Shah on Friday held a door-to-door campaign and addressed poll meetings in Uttarakhand's Rudraprayag district, appealing to people to bring the BJP back to power in the state. Read more

The Drugs Controller General of India (DCGI) on Friday gave permission to Bharat Biotech for intranasal COVID booster dose trials. The trials will be done at nine different sites. Read more

North Korea conducted tests of an upgraded long-range cruise missile and a warhead of a tactical guided missile this week, as leader Kim Jong Un visited a munitions factory producing a "major weapon system," state media KCNA said. Read more

The US economy notched its strongest growth in nearly four decades in 2021 after the government pumped trillions of dollars in COVID-19 relief, and is seen forging ahead despite headwinds from the pandemic, strained supply chains as well as inflation. Read more

The United States called on China to use its influence with Russia to urge a diplomatic solution to the Ukraine crisis, but policy experts doubted Beijing would back Washington in the standoff. Read more

If you wanted to buy an iPhone and couldn't until now, here's the opportunity for you. Apple's iPhone 12 Mini is available with jaw-dropping discounts on Flipkart. Check details

With businesses upbeat about the economy and consumer confidence, salary increments in India will reach pre-COVID levels this year, according to a survey. Read more

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