Here's a roundup of the day's top stories in brief.
1. Centre Offers To Suspend Farm Laws
The government proposed to suspend the three contentious farm laws for one and half years and set up a joint committee to discuss the Acts to end the stalemate, but farmer leaders did not immediately accept the proposal.
The next meeting has been scheduled for Jan. 22.
2. Supreme Court Rejects Aadhaar Review Petitions
The petitions were dismissed by a 4:1 majority. Justice AM Khanwilkar, Justice Ashok Bhushan, Justice S Abdul Nazeer and Justice BR Gavai were part of the majority opinion, while Justice Chandrachud dissented.
3. Bajaj Finance Prepares To Take On Fintechs
Bajaj Finance has set its sight on the hypercompetitive payments space in India. The non-bank lender will launch Bajaj Pay for consumers in the fourth quarter offering UPI, prepaid instruments, EMI cards and credit cards.
4. Sensex Just Shy Of 50,000; Nasdaq Rallies
Indian equities ended higher for a second straight session. The S&P BSE Sensex reversed after coming within 120 points of the 50,000 milestone.
Meanwhile, the Nasdaq 100 Index jumped more than 1% and the S&P 500 Index rose toward an all-time high.
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5. IPOs: Strong Subscription
The initial share sale of Indigo Paints Ltd. was subscribed 1.9 times on the opening day of its offering. The Indian Railways Finance Corp. issue was subscribed 3.5 times on the final day.
6. Why Dominant Life Insurers Are Facing A Challenge
Traditionally, bank-owned life insurers leveraged the lender's network to outgrow rivals. That trend of India's insurance market is now changing due to the pandemic. Non-bank run insurers like Max, Tata and Bajaj grew faster. Find out why.
7. Budget 2021: ‘Constructing' The Post-Covid Economy
The dust is settling after the torrid Covid-19 pandemic affected billions of people, leaving some permanent scars. But now's the time for a rebuild. Housing and real estate, infrastructure, construction, and manufacturing create large-scale employment and can help India quickly recover from the crisis, writes Keki Mistry.
8. Tesla's India Debut Won't Be So Smooth
Elon Musk's confirmation that Tesla Inc. will enter India has sparked jubilation among enthusiasts. But it could prove to be the company's hardest market to crack yet.
9. Joe Biden Set To Take Oath As U.S. President
Joe Biden will be sworn in as the 46th U.S. President on Wednesday in a heavily-secured inaugural ceremony after weeks of turmoil. The Democrat will make a plea for national unity in the “America United” themed event that will be devoid of the usual pomp.
10. Jack Ma Resurfaces. But Questions Remain.
Billionaire Jack Ma resurfaced for the first time since China's government began clamping down on his business empire three months ago. Ma spoke briefly, through video, in an annual event for rural teachers. While that sent the stock soaring, there were plenty of unanswered questions about Ma's fate.
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