News Capsule: 8/8/22

▫️ Supreme Court provided interim relief to Reliance and asked SEBI to act fairly in the alleged irregularities between 1994-2000.

▫️ED freezed assets of WazirX on money laundering charges.

▫️ RBI hiked repo rate by 50bps to 5.40% and kept inflation and GDP rate unchanged.

▫️US job market surged in July, defying the recession fears.

▫️HDFC raised $1.1 billion funds to boost affordable housing lending.

▫️India received above normal rainfall since onset of monsoon.

▫️ Jagdeep Dhankar elected as Vice President of India.

▫️Banks have raised interest rates following hike in repo rates.

▫️PM asked states to modernize agriculture and opt for crop diversification.

▫️ Maruti looks to produce 2 million cars in FY23.

▫️States capex slowed down by 9% in Apr–Jun quarter.

▫️ Shipping lines to face margin pressure as freight rates fall (-ve for SCI).

▫️ Rice yield to fall by 8% this season due to poor weather conditions.

▫️ FPIs bought Rs 14,000 crore shares in 1st week of August.

▫️PM to roll out 3 health schemes on August 15.

▫️HAL to make drones for high altitude strategic surveillance.

▫️Tata Motors to acquire Ford Motors plant in Gujarat at Rs 726 crore.

▫️CCL to establish new modern instant coffee manufacturing facility at Rs 320 crore in Andhra Pradesh.

▫️ LIC reduced stake in Maruti and Bharat Dynamics.

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