Business higvhlights

Following are the top business stories at 1940 hours: DEL45 BIZ-FM Cabinet clears proposal for govt guarantee for bad bank New Delhi: The Union Cabinet has cleared a proposal to provide Rs 30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans, Finance Minister Nirmala Sitharaman said on Thursday.

DEL43 BIZ-LD STOCKS Markets maintain record run; Sensex breaches 59k for first time Mumbai: Market benchmark Sensex scaled the 59,000-mark for the first time on Thursday as investors remained in risk-on mode following the government's policy support measures for various sectors. DEL54 BIZ-RBI-ECONOMY Prospects brightening for economy as 2nd COVID wave wanes: RBI bulletin Mumbai: Prospects are brightening for the Indian economy achieving ''escape velocity'' from the pandemic as the second wave of COVID-19 wanes and preparedness for future remains on war-alert status, according to an RBI bulletin published on Thursday.

DEL48 BIZ-LD RUPEE Rupee edges 2 paise lower at 73.52 against US dollar Mumbai:The rupee closed marginally lower at 73.52 against the American currency on Thursday, tracking a rebound in the US dollar index.

DEL34 BIZ-GOLD-PRICE Gold plunges Rs 491; silver tumbles Rs 724 New Delhi: Gold in the national capital on Thursday plunged Rs 491 to Rs 45,735 per 10 gram amid a decline in international precious metal prices and rupee appreciation, according to HDFC Securities.

DEL21 BIZ-GST-MEET GST Council to meet on Friday; rate review, tax concession to 11 COVID drugs on cards New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review the tax rate of over four-dozen items and extend till December 31, tax concessions on 11 COVID drugs.

DCM87 BIZ-POONAWALLA FINCORP-MD-RESIGN Poonawalla Fincorp MD Abhay Bhutada resigns a day after Sebi action on insider trading New Delhi: Poonawalla Fincorp Managing Director Abhay Bhutada stepped down from the company on Thursday, a day after being barred from the securities markets by regulator Sebi for alleged insider trading. DCM66 BIZ-SEBI-LD TYAGI Shorter settlement cycle is in interest of all market participants: Sebi chief New Delhi: Amidst concerns raised by brokers' association and FPIs over the implementation of the shorter settlement system, Sebi chairman Ajay Tyagi on Thursday said the T+1 (trade plus one day) settlement cycle is in the interest of all market participants.

DCM36 BIZ-GADKARI-EXPRESSWAY People need to pay for good roads: Gadkari on toll charges on highways Sohna: Union Minister Nitin Gadkari on Thursday said people need to pay if they want a better road infrastructure in the country and mentioned how expressways help in reducing travel time and fuel costs.

DCM47 BIZ-TELECOM-MITTAL Airtel will opt for moratorium to redirect cash flow to build network: Sunil Mittal New Delhi: Telecom operator Bharti Airtel will opt for payment moratorium, offered in telecom relief package, and redirect the cash flow to aggressively build networks, its Chairman Sunil Bharti Mittal said on Thursday.

DCM29 BIZ-RBI-PATRA RBI will signal lift-off in interest rates through policy stance, prefers jump in bank credit to reduce liquidity surplus Mumbai: A pick-up in bank credit is the RBI's preferred mode for narrowing the liquidity surplus, and the signal for any possible lift-off of interest rates will be the rate-setting panel's shift in stance of the policy, RBI Deputy Governor Michael Patra said on Thursday.