News wrap Nov 25: India has more women than men; cryptocurrencies won't be legal tender; Latent View at 3x of IPO price and more

For the first time, since the National Family and Health Surveys began in 1992, the population of women in India is reported to be more than that of men. TV Somanathan, Finance Secretary, has made it clear crypto will not be legal tender by any means. Meanwhile, Nifty Bank fell for the first time in four months. On the health front, AIIMS Chief Dr Randeep Guleria Huge has said a third COVID-19 wave is unlikely to hit India. For all these stories and everything in between, here are some top news of the day

TV Somanathan, Finance Secretary said is unsure if the divestment of maharatna Bharat Petroleum Corporation Limited (BPCL) will take place in FY22. "There is a good chance," he said adding "we are not likely to fully achieve divestment target" this fiscal. Read more

Speaking about cryptocurrencies, Finance Secretary Somanthan said, "one thing I can say very clearly is that crypto will not be legal tender by any means." He added gold, silver, or alcohol are not legal tender and cryptos won't be either. Read more

The Reserve Bank of India's revision of bad loan recognition and upgradation norms could bring a sharp spike in the non-performing assets (NPAs) for non-banking finance companies (NBFCs) in the country. Credit rating agency ICRA estimates that the new norms could take NBFC NPAs up by 160-180 bps. Read more 

Nifty Bank is on track to finish the November futures & options series over five percent lower, registering the first fall in four months. The fall mirrors the decline in benchmark indices. Dig deeper

The shares of Reliance Industries surged over 6 percent Thursday as the company announced a scheme to transfer Gasification Undertaking into a wholly-owned subsidiary. The shares closed at Rs 2,501 on the National Stock Exchange (NSE). Dig deeper

Shares of Latent View Analytics surged over 20 percent Thursday, taking the stock over 3 times higher than its IPO price. The stock has emerged as the third-best debutant this year. Dig deeper

A third Covid-19 wave of a magnitude comparable to the first two is unlikely to hit India, AIIMS director Dr Randeep Guleria said as he underlined that absence of surge in cases at the moment. He suggested that vaccines are still protecting against the virus and there is no need for a booster dose for now. Read more

The Delhi government has decided to resume physical classes in schools, colleges and other educational institutions and reopen government offices from November 29 in view of an "improvement" in the air quality.  More details here 

A sharp uptick in gender violence is yet another of COVID-19's side effects. In the short term, the abused women are likely to be less productive, while in the long run, there will be a drop in the number of working women, an IMF report said. Read more 

The European Union (EU) will propose a nine-month time limit on COVID-19 vaccines for travel into the bloc and also give priority to vaccinated travellers, a report said. The news comes on the heels of the European Centre for Disease Prevention and Control recommending booster doses for adults.  Read more 

Five years ago today, Dear, Zindagi was released, starring Alia Bhatt and Shahrukh Khan. It was the first major Hindi film to feature someone struggling with mental health in regular light. But five years hence, the stigma around mental health continues in the country. Read more

Once you have finalised the property, the next big task is to identify the bank or financial institution for home loan. Before you make a move, you should do some preparation and some background work to avoid hassles in your home loan process. Read about the factors to consider