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Oil prices rose more than 5% on Monday, as a weaker dollar and strong global equities markets boosted crude futures after seven sessions of declines.

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Indian business activity has stayed above the pre-pandemic level for a second straight week rising to 100.8 for the week ended August 22. The index was at 100.1 in the preceding week.

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Highlighting the increasingly heavy toll a recent wave of COVID-19 infections is taking on Japan's economy. The country's factory activity growth slowed in August, while that of the services sector shrank at the fastest pace since May last year.

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Taiwan's government said that global supply and demand for auto chips should reach a "balance" by the fourth quarter of 2021. Democratic US senators from Michigan and Ohio this week asked the Taiwanese government to help address the shortage, given that the island is a major semiconductor producer.

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Indian Finance Minister Nirmala Sitharaman unveiled the 'National Monetisation Pipeline' on Monday, with the goal of monetizing assets worth $81 billion during the fiscal years 2022-25.

The plan outlines the government's four-year strategy for monetizing brownfield infrastructure assets ranging from roads and railroads to electricity transmission and production, as well as mining.

"The ownership of assets remains with the government. There will be a mandatory hand back. They (private sector partners) will have to give it back after a certain time," Sitharaman said.

"By bringing in private participation, we are going to monetize it (assets) better and with whatever resource that you obtained by monetisation, you are able to put in for further investment into infrastructure building," she added.

Asset monetisation will unlock resources and lead to value unlocking, she said.

Union Budget 2021-22 had identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing.

Towards this, the Budget provided for preparation of a 'National Monetisation Pipeline' of potential brownfield infrastructure assets.

NITI Aayog in consultation with infra line ministries has prepared the report on NMP.

The end objective of this initiative is to enable "infrastructure creation through monetisation" wherein the public and private sector collaborate, each excelling in their core areas of competence, so as to deliver socio-economic growth and quality of life to the country's citizens, she added.

(With inputs from agencies)

Indian Finance Minister Nirmala Sitharaman unveiled the 'National Monetisation Pipeline' on Monday, with the goal of monetizing assets worth $81 billion during the fiscal years 2022-25.

Indian Finance Minister Nirmala Sitharaman unveiled the 'National Monetisation Pipeline' on Monday, with the goal of monetizing assets worth $81 billion during the fiscal years 2022-25. The plan outlines the government's four-year strategy for monetizing brownfield infrastructure assets ranging from roads and railroads to electricity transmission and production, as well as mining. "The ownership of assets remains with the government. There will be a mandatory hand back. They (private sector partners) will have to give it back after a certain time," Sitharaman said. "By bringing in private participation, we are going to monetize it (assets) better and with whatever resource that you obtained by monetisation, you are able to put in for further investment into infrastructure building," she added. Asset monetisation will unlock resources and lead to value unlocking, she said. Union Budget 2021-22 had identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for preparation of a 'National Monetisation Pipeline' of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP. The end objective of this initiative is to enable "infrastructure creation through monetisation" wherein the public and private sector collaborate, each excelling in their core areas of competence, so as to deliver socio-economic growth and quality of life to the country's citizens, she added. (With inputs from agencies)

National Monetisation Pipeline: India unveils $81 billion plan; ownership of assets will remain with govt

Global dividends are forecast to rise to $1.39 trillion this year, up slightly from a previous estimate to reflect a stronger than expected recovery in the company payouts. Its latest estimate, up 2.2 percentage points from an earlier one, is just 3% below the pre-pandemic peak.

World Business Watch: Global dividends to near pre-pandemic levels in 2021

On August 20, weak global cues pulled benchmark indexes down.

The S&amp;P BSE Sensex fell 300 points to 55,329 points, while the Nifty50 fell 118 points to 16,450 points.

Tata Steel was the top &nbsp;Sensex loser, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&amp;T.

The idea of the Federal Reserve reducing down on bond purchases frightened investors, according to a Reuters article. Asian markets extended losses on a strong dollar, which is at a nine-month high, after the prospect of the Fed pulling back on bond purchases spooked investors.&nbsp;

Except for the measure of FMCG shares, all 15 sector gauges ended down, driven by the Nifty Metal index's nearly 6% drop.

The Nifty Realty, Healthcare, Private Bank, Oil &amp; Gas, PSU Bank, Auto, and Bank indices all dropped 1.5 to 4%.&nbsp;

(With inputs from agencies)

On August 20, weak global cues pulled benchmark indexes down. The S&P BSE Sensex fell 300 points to 55,329 points, while the Nifty50 fell 118 points to 16,450 points.

On August 20, weak global cues pulled benchmark indexes down. The S&P BSE Sensex fell 300 points to 55,329 points, while the Nifty50 fell 118 points to 16,450 points. Tata Steel was the top Sensex loser, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&T. The idea of the Federal Reserve reducing down on bond purchases frightened investors, according to a Reuters article. Asian markets extended losses on a strong dollar, which is at a nine-month high, after the prospect of the Fed pulling back on bond purchases spooked investors. Except for the measure of FMCG shares, all 15 sector gauges ended down, driven by the Nifty Metal index's nearly 6% drop. The Nifty Realty, Healthcare, Private Bank, Oil & Gas, PSU Bank, Auto, and Bank indices all dropped 1.5 to 4%. (With inputs from agencies)

Sensex ends 300 points lower 55329, Nifty closes at 16450

The US government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles.

The investigation covers 765,000 vehicles, almost everything that Tesla has sold in the US since the start of the 2014 model year. Of the crashes identified by the National Highway Traffic Safety Administration as part of the investigation, 17 people were injured and one was killed.

NHTSA says it has identified 11 crashes since 2018 in which Teslas on Autopilot or Traffic-Aware Cruise Control have hit vehicles at scenes where first responders have used flashing lights, flares, an illuminated arrow board or cones warning of hazards. The agency announced the action Monday in a posting on its website.

The investigation covers Tesla’s entire current model lineup, the Models Y, X, S and 3 from the 2014 through 2021 model years.

The National Transportation Safety Board, which also has investigated some of the Tesla crashes, has recommended that NHTSA and Tesla limit Autopilot’s use to areas where it can safely operate. The NTSB also recommended that NHTSA require Tesla to have a better system to make sure drivers are paying attention. NHTSA has not taken action on any of the recommendations. The NTSB has no enforcement powers and can only make recommendations to other federal agencies such as NHTSA.

Autopilot has frequently been misused by Tesla drivers, who have been caught driving drunk or even riding in the back seat while a car rolled down a California highway.

The agency has sent investigative teams to 31 crashes involving partially automated driver-assist systems since June of 2016. Such systems can keep a vehicle centred in its lane and a safe distance from vehicles in front of it. Of those crashes, 25 involved Tesla Autopilot of which 10 deaths were reported, according to data released by the agency.

Tesla and other manufacturers warn that drivers using the systems must be ready to intervene at all times. Teslas using the system have crashed into semis crossing in front of them, stopped emergency vehicles and a roadway barrier.

A message was left early Monday seeking comment from Tesla, which has disbanded its media relations office.

The crashes into emergency vehicles cited by NHTSA began on Jan. 22, 2018, in Culver City, California, near Los Angeles when a Tesla using Autopilot struck a parked firetruck that was parked partially in the travel lanes with its lights flashing. Crews were handling another crash at the time.

Since then, the agency said there were crashes in Laguna Beach, California; Norwalk, Connecticut; Cloverdale, Indiana; West Bridgewater, Massachusetts; Cochise County, Arizona; Charlotte, North Carolina, Montgomery County, Texas; Lansing, Michigan; and Miami, Florida.

“The investigation will assess the technologies and methods used to monitor, assist and enforce the driver’s engagement with the dynamic driving task during Autopilot operation,” NHTSA said in its investigation documents.

In addition, the probe will cover object and event detection by the system, as well as where it is allowed to operate. NHTSA says it will examine “contributing circumstances” to the crashes, as well as similar crashes.

An investigation could lead to a recall or other enforcement action by NHTSA.

“NHTSA reminds the public that no commercially available motor vehicles today are capable of driving themselves,” the agency said in a statement. “Every available vehicle requires a human driver to be in control at all times, and all state laws hold human drivers responsible for the operation of their vehicles.”

The agency said it has “robust enforcement tools” to protect the public and investigate potential safety issues, and it will act when it finds evidence “of noncompliance or an unreasonable safety risk.”

In June NHTSA ordered all automakers to report any crashes involving fully autonomous vehicles or partially automated driver-assist systems.

The measures show the agency has started to take a tougher stance on automated vehicle safety than in the past. It has been reluctant to issue any regulations of the new technology for fear of hampering the adoption of the potentially life-saving systems.

Shares of Tesla Inc., based in Palo Alto, California, fell nearly 2% before the opening bell.

The US government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles.

The US government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles. The investigation covers 765,000 vehicles, almost everything that Tesla has sold in the US since the start of the 2014 model year. Of the crashes identified by the National Highway Traffic Safety Administration as part of the investigation, 17 people were injured and one was killed. NHTSA says it has identified 11 crashes since 2018 in which Teslas on Autopilot or Traffic-Aware Cruise Control have hit vehicles at scenes where first responders have used flashing lights, flares, an illuminated arrow board or cones warning of hazards. The agency announced the action Monday in a posting on its website. The investigation covers Tesla’s entire current model lineup, the Models Y, X, S and 3 from the 2014 through 2021 model years. The National Transportation Safety Board, which also has investigated some of the Tesla crashes, has recommended that NHTSA and Tesla limit Autopilot’s use to areas where it can safely operate. The NTSB also recommended that NHTSA require Tesla to have a better system to make sure drivers are paying attention. NHTSA has not taken action on any of the recommendations. The NTSB has no enforcement powers and can only make recommendations to other federal agencies such as NHTSA. Autopilot has frequently been misused by Tesla drivers, who have been caught driving drunk or even riding in the back seat while a car rolled down a California highway. The agency has sent investigative teams to 31 crashes involving partially automated driver-assist systems since June of 2016. Such systems can keep a vehicle centred in its lane and a safe distance from vehicles in front of it. Of those crashes, 25 involved Tesla Autopilot of which 10 deaths were reported, according to data released by the agency. Tesla and other manufacturers warn that drivers using the systems must be ready to intervene at all times. Teslas using the system have crashed into semis crossing in front of them, stopped emergency vehicles and a roadway barrier. A message was left early Monday seeking comment from Tesla, which has disbanded its media relations office. The crashes into emergency vehicles cited by NHTSA began on Jan. 22, 2018, in Culver City, California, near Los Angeles when a Tesla using Autopilot struck a parked firetruck that was parked partially in the travel lanes with its lights flashing. Crews were handling another crash at the time. Since then, the agency said there were crashes in Laguna Beach, California; Norwalk, Connecticut; Cloverdale, Indiana; West Bridgewater, Massachusetts; Cochise County, Arizona; Charlotte, North Carolina, Montgomery County, Texas; Lansing, Michigan; and Miami, Florida. “The investigation will assess the technologies and methods used to monitor, assist and enforce the driver’s engagement with the dynamic driving task during Autopilot operation,” NHTSA said in its investigation documents. In addition, the probe will cover object and event detection by the system, as well as where it is allowed to operate. NHTSA says it will examine “contributing circumstances” to the crashes, as well as similar crashes. An investigation could lead to a recall or other enforcement action by NHTSA. “NHTSA reminds the public that no commercially available motor vehicles today are capable of driving themselves,” the agency said in a statement. “Every available vehicle requires a human driver to be in control at all times, and all state laws hold human drivers responsible for the operation of their vehicles.” The agency said it has “robust enforcement tools” to protect the public and investigate potential safety issues, and it will act when it finds evidence “of noncompliance or an unreasonable safety risk.” In June NHTSA ordered all automakers to report any crashes involving fully autonomous vehicles or partially automated driver-assist systems. The measures show the agency has started to take a tougher stance on automated vehicle safety than in the past. It has been reluctant to issue any regulations of the new technology for fear of hampering the adoption of the potentially life-saving systems. Shares of Tesla Inc., based in Palo Alto, California, fell nearly 2% before the opening bell.

US opens formal probe into Tesla Autopilot system

Airbnb said its current-quarter bookings could be hit by the delta variant of the coronavirus and a slowing pace of vaccination in the united states. The news sends its shares down more than 4 percent.

World Business Watch: Airbnb warns of Coronavirus' Delta variant impact on bookings

Samsung Electronics Vice Chairman Jay Y. Lee, convicted of bribery and embezzlement, was released on parole. With hopes high at the tech giant that he will also soon be allowed to work as big investment decisions await him.

World Business Watch: Samsung leader Jay Y Lee releases from jail on parole

Adidas said on Thursday that it has reached an agreement to sell Reebok, a struggling shoe and sportswear brand, to Authentic Brands Group for up to 2.1 billion euros ($2.5 billion).&nbsp;

The businesses said in a statement on Thursday that the majority of the price will be paid in cash at closing, with the remainder arriving as delayed and contingent compensation.

In the first quarter of 2022, the acquisition is scheduled to conclude.&nbsp;

Reebok will join a retail behemoth that has purchased numerous insolvent brands, including Brooks Brothers, Aeropostale, and Forever 21.

Authentic Brands is gearing up for an IPO, which may happen as early as this summer.&nbsp;

Adidas purchased Reebok for $3.8 billion in 2006 to better fight with arch-rival Nike, but the company's slow performance led repeated requests from investors to sell the brand, which is centred on the United States and Canada.

Meanwhile, Adidas' own brand has managed to eat into Nike's supremacy in the United States, aided by collaborations with superstars such as Kanye West, Beyonce, and Pharrell Williams.&nbsp;

Reebok will keep its headquarters in Boston and continue operations in North and Latin America, Asia-Pacific, Europe and Russia, the U.S. brand management firm said in a statement, adding it will work closely with Adidas during the transition.

Over 11 years, ABG has amassed more than 30 labels sold in some 6,000 stores. Its brands include apparel chains Aéropostale and Forever21, as well as and Sports Illustrated magazine.

(With inputs from agencies)

Adidas said on Thursday that it has reached an agreement to sell Reebok, a struggling shoe and sportswear brand, to Authentic Brands Group for up to 2.1 billion euros ($2.

Adidas said on Thursday that it has reached an agreement to sell Reebok, a struggling shoe and sportswear brand, to Authentic Brands Group for up to 2.1 billion euros ($2.5 billion). The businesses said in a statement on Thursday that the majority of the price will be paid in cash at closing, with the remainder arriving as delayed and contingent compensation. In the first quarter of 2022, the acquisition is scheduled to conclude. Reebok will join a retail behemoth that has purchased numerous insolvent brands, including Brooks Brothers, Aeropostale, and Forever 21. Authentic Brands is gearing up for an IPO, which may happen as early as this summer. Adidas purchased Reebok for $3.8 billion in 2006 to better fight with arch-rival Nike, but the company's slow performance led repeated requests from investors to sell the brand, which is centred on the United States and Canada. Meanwhile, Adidas' own brand has managed to eat into Nike's supremacy in the United States, aided by collaborations with superstars such as Kanye West, Beyonce, and Pharrell Williams. Reebok will keep its headquarters in Boston and continue operations in North and Latin America, Asia-Pacific, Europe and Russia, the U.S. brand management firm said in a statement, adding it will work closely with Adidas during the transition. Over 11 years, ABG has amassed more than 30 labels sold in some 6,000 stores. Its brands include apparel chains Aéropostale and Forever21, as well as and Sports Illustrated magazine. (With inputs from agencies)

Adidas sells Reebok to Authentic Brands in $2.5 billion deal

It would also prohibit them from punishing apps that offer different prices or conditions through another app store or payment system.

US lawmakers introduce bill to rein in Apple, Google app stores

EBay shares are up 35% from the beginning of the year and are trading at $71.22 , down-from-52-week-high.

EBay forecasts revenue below estimates

Nigeria will soon lift its ban on Twitter, roughly two months after suspending the microblogging platform indefinitely in Africa's most populous nation, the nation’s information minister Lai Mohammed said.

Nigeria to lift ban on Twitter after two months of suspension

The agreement with Fahari Aviation, the unmanned aircraft division of Kenya Airways, aims to design a network for the safe operation of Electric Vertical Aircraft

Embraer and Kenya Airways agree to study flying taxis

U.S: After months of negotiations, a bipartisan group of senators reached an agreement on a $1.2-trillion infrastructure bill, which includes 550 billion dollars in new spending on infrastructure projects.

Senate passes $1.2 trillion bipartisan infra Bill

The lawsuit marks the latest chapter in the "dieselgate" saga since Volkswagen admitted in September 2015 to using illegal software to rig diesel engine emissions tests.

Porsche faces US lawsuit over dieselgate scandal

As per the Google spokesperson, the company will not change an employee’s salary based on them going from office work to being fully remote in the city where the office is located.

Remote employees at Google may face pay cuts

In what is believed to be one of the largest cryptocurrency thefts ever, hackers have returned roughly half of the $600 million they took.

A loophole in Poly Network, a platform that aims to connect multiple blockchains so that they may operate together, was exploited by cybercriminals.

Poly Network informed the hackers of the incident and requested that they communicate with them, encouraging them to return compromised assets.&nbsp;

A blockchain is a digital record that serves as the foundation for numerous cryptocurrencies.Each digital coin has its own blockchain, which is distinct from the rest. 
 
Poly Network promises to be able to connect all of these different blockchains.&nbsp;

Poly Network is a platform for decentralised money.DeFi is a wide word that refers to a range of financial applications based on blockchain technology that aim to eliminate middlemen like brokerages and&nbsp;exchanges. It's known as decentralised. &nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
<a href="https://t.co/Yzw4oDenjC">pic.twitter.com/Yzw4oDenjC</a>
— Poly Network (@PolyNetwork2) <a href="https://twitter.com/PolyNetwork2/status/1425123153009803267?ref_src=twsrc%5Etfw">August 10, 2021</a></blockquote>
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"There`s so much public attention on this, and exchanges will be on the lookout for customer deposits linked to this theft," Elliptic's Robinson said.

"This demonstrates that even if you can steal cryptoassets, laundering them and cashing out is extremely difficult, due to the transparency of the blockchain and the broad use of blockchain analytics by financial institutions."

The hacker or hackers sent a message with some of the returned coins appearing to ask for donations, Robinson added.

The stolen funds amount to more than the criminal losses registered by the entire DeFi sector from January to July of a record $474 million, according to a report from crypto intelligence company CipherTrace.

Proponents of DeFi say it offers people and businesses free access to financial services, arguing that the technology will cut costs and boost economic activity.

Yet it is mostly unregulated, with technical flaws and weaknesses in the code many platforms use, leaving it vulnerable to hacks and heists.

An executive from Tether - a stablecoin or type of cryptocurrency usually backed by real-world world assets - said on Twitter the company had frozen $33 million connected with the hack, and top management at large crypto exchanges responded to Poly Network saying they would also try to help.

(With inputs from agencies)

In what is believed to be one of the largest cryptocurrency thefts ever, hackers have returned roughly half of the $600 million they took. A loophole in Poly Network, a platform that aims to connect multiple blockchains so that they may operate together, was exploited by cybercriminals.

In what is believed to be one of the largest cryptocurrency thefts ever, hackers have returned roughly half of the $600 million they took. A loophole in Poly Network, a platform that aims to connect multiple blockchains so that they may operate together, was exploited by cybercriminals. Poly Network informed the hackers of the incident and requested that they communicate with them, encouraging them to return compromised assets. A blockchain is a digital record that serves as the foundation for numerous cryptocurrencies.Each digital coin has its own blockchain, which is distinct from the rest. Poly Network promises to be able to connect all of these different blockchains. Poly Network is a platform for decentralised money.DeFi is a wide word that refers to a range of financial applications based on blockchain technology that aim to eliminate middlemen like brokerages and exchanges. It's known as decentralised. pic.twitter.com/Yzw4oDenjC — Poly Network (@PolyNetwork2) August 10, 2021 × "There`s so much public attention on this, and exchanges will be on the lookout for customer deposits linked to this theft," Elliptic's Robinson said. "This demonstrates that even if you can steal cryptoassets, laundering them and cashing out is extremely difficult, due to the transparency of the blockchain and the broad use of blockchain analytics by financial institutions." The hacker or hackers sent a message with some of the returned coins appearing to ask for donations, Robinson added. The stolen funds amount to more than the criminal losses registered by the entire DeFi sector from January to July of a record $474 million, according to a report from crypto intelligence company CipherTrace. Proponents of DeFi say it offers people and businesses free access to financial services, arguing that the technology will cut costs and boost economic activity. Yet it is mostly unregulated, with technical flaws and weaknesses in the code many platforms use, leaving it vulnerable to hacks and heists. An executive from Tether - a stablecoin or type of cryptocurrency usually backed by real-world world assets - said on Twitter the company had frozen $33 million connected with the hack, and top management at large crypto exchanges responded to Poly Network saying they would also try to help. (With inputs from agencies)

Hackers return $260 million to crypto platform Poly Network after massive theft

Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines.

The RBI will start imposing a penalty on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards.

“The Scheme of Penalty for non-replenishment of ATMs has been formulated to ensure that sufficient cash is available to the public through ATMs,” the RBI said in a circular.

The Reserve Bank of India has a mandate to issue banknotes and the banks are fulfilling this mandate by dispensing banknotes to the public through their wide network of branches and ATMs.

In this connection, it said a review of downtime of ATMs due to cash-outs was undertaken and it was observed that ATM operations affected by cash-outs lead to non-availability of cash and cause avoidable inconvenience to the members of the public.

It has, therefore, been decided that the banks/ White Label ATM Operators (WLAOs) will strengthen their systems/ mechanisms to monitor the availability of cash in ATMs and ensure timely replenishment to avoid cash-outs, central bank said.

“Any non-compliance in this regard shall be viewed seriously and shall attract monetary penalty as stipulated in the ‘Scheme of Penalty for non-replenishment of ATMs’,” the RBI said.

The Scheme will be effective from October 01, 2021.

On condition for counting instances of cash-outs in an ATM, the RBI said it would come into play “when the customer is not able to withdraw cash due to non-availability of cash in a particular ATM”.

As regards the quantum of penalty, the central bank said “cash-out at any ATM of more than ten hours in a month” will attract a flat penalty of Rs 10,000 per ATM.

In the case of White Label ATMs (WLAs), the penalty would be charged to the bank, which is meeting the cash requirement of that particular WLA.

The bank, may, at its discretion, recover the penalty from the WLA operator, it added.

At the end-June 2021, there were 2,13,766 ATMs of different banks in the country.

Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines.

Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines. The RBI will start imposing a penalty on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards. “The Scheme of Penalty for non-replenishment of ATMs has been formulated to ensure that sufficient cash is available to the public through ATMs,” the RBI said in a circular. The Reserve Bank of India has a mandate to issue banknotes and the banks are fulfilling this mandate by dispensing banknotes to the public through their wide network of branches and ATMs. In this connection, it said a review of downtime of ATMs due to cash-outs was undertaken and it was observed that ATM operations affected by cash-outs lead to non-availability of cash and cause avoidable inconvenience to the members of the public. It has, therefore, been decided that the banks/ White Label ATM Operators (WLAOs) will strengthen their systems/ mechanisms to monitor the availability of cash in ATMs and ensure timely replenishment to avoid cash-outs, central bank said. “Any non-compliance in this regard shall be viewed seriously and shall attract monetary penalty as stipulated in the ‘Scheme of Penalty for non-replenishment of ATMs’,” the RBI said. The Scheme will be effective from October 01, 2021. On condition for counting instances of cash-outs in an ATM, the RBI said it would come into play “when the customer is not able to withdraw cash due to non-availability of cash in a particular ATM”. As regards the quantum of penalty, the central bank said “cash-out at any ATM of more than ten hours in a month” will attract a flat penalty of Rs 10,000 per ATM. In the case of White Label ATMs (WLAs), the penalty would be charged to the bank, which is meeting the cash requirement of that particular WLA. The bank, may, at its discretion, recover the penalty from the WLA operator, it added. At the end-June 2021, there were 2,13,766 ATMs of different banks in the country.

RBI to penalise banks for non-availability of cash in ATMs from October 1

On Tuesday, Indian benchmark indexes rose for the second day in a row, led by IT and financial equities such as Tech Mahindra and Bharti Airtel.

The Sensex slumped 471 points from the fresh record high of 54,779.6, touched during intra-day trade, and hit a low of 54,308. The index, however, recovered swiftly to close at 54,555 levels, up 152 points or 0.28 per cent.

On the NSE, the Nifty50 index shut shop at 16,280 levels, up 22 points or 0.13 per cent. Earlier today, it claimed a new lifetime high of 16,359.

During intraday trading, both indexes had climbed to new all-time highs.&nbsp;

Meanwhile, Indian rupee weakened to its lowest level in almost two weeks, in line with other Asian currencies, which fell tracking broad dollar strength amid concerns the US Federal Reserve will taper its stimulus sooner than expected.

The partially convertible rupee ended at 74.42/43 per dollar, compared with its close of 74.26 on Monday. The unit fell to a low of 74.4625 during the trade, its weakest since July 28.

(With inputs from agencies)

On Tuesday, Indian benchmark indexes rose for the second day in a row, led by IT and financial equities such as Tech Mahindra and Bharti Airtel. The Sensex slumped 471 points from the fresh record high of 54,779.

On Tuesday, Indian benchmark indexes rose for the second day in a row, led by IT and financial equities such as Tech Mahindra and Bharti Airtel. The Sensex slumped 471 points from the fresh record high of 54,779.6, touched during intra-day trade, and hit a low of 54,308. The index, however, recovered swiftly to close at 54,555 levels, up 152 points or 0.28 per cent. On the NSE, the Nifty50 index shut shop at 16,280 levels, up 22 points or 0.13 per cent. Earlier today, it claimed a new lifetime high of 16,359. During intraday trading, both indexes had climbed to new all-time highs. Meanwhile, Indian rupee weakened to its lowest level in almost two weeks, in line with other Asian currencies, which fell tracking broad dollar strength amid concerns the US Federal Reserve will taper its stimulus sooner than expected. The partially convertible rupee ended at 74.42/43 per dollar, compared with its close of 74.26 on Monday. The unit fell to a low of 74.4625 during the trade, its weakest since July 28. (With inputs from agencies)

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