A local court on Wednesday sent #TamilNadu Electricity and Prohibition and Excise Minister #SenthilBalaji, arrested by the #ED in a money laundering probe, to judicial custody till June 28.

Read here: https://livemint.com/politics/tamil-nadu-minister-senthil-balaji-sent-to-judicial-custody-till-june-28-in-money-laundering-case-11686740195162.html

In early-stage negotiations, the #KotakGeneralInsurance is valued at around $800 million, and #ZurichInsurance has expressed interest in both a minority stake of 49% or taking up a majority 51% stake, the report said



Read here: https://www.livemint.com/companies/news/zurich-insurance-eyes-up-to-51-stake-in-kotak-general-insurance-report-11686753887364.html

Currently, #Bain owns around 1.3% stake in the private lender.

https://www.livemint.com/companies/news/bain-capital-to-sell-267m-stake-in-axis-bank-through-block-deal-with-goldman-sachs-advice-11686759921498.html

#FederalReserve officials paused on
Wednesday following 15 months of interest-rate hikes
but signaled they would likely resume tightening to cool
#inflation.

Read here: https://www.livemint.com/market/stock-market-news/us-fomc-meet-outcome-live-federal-reserve-announces-interest-rates-decision-a-day-after-inflation-data-showed-easing-11686731625955.html

#Opinion | The pendulum of India’s #NPA policy keeps swinging between the rights of creditors and borrowers. The compromise settlement option is a bit of a swing to the latter.

https://www.livemint.com/opinion/columns/indias-npa-crisis-causes-solutions-and-the-compromise-settlement-option-11686766863206.html

The growing optimism among bankers regarding the revival of infrastructure projects is not in sync with the sluggish growth in bank loans to the sector, data from the past several months showed.

https://www.livemint.com/economy/infra-credit-growth-in-slow-lane-despite-growing-optimism-11686767886110.html

Asian markets traded mixed today after the US #FederalReserve kept its benchmark interest rates unchanged, but signalled two more small hikes in 2023.

https://www.livemint.com/market/stock-market-news/global-market-sgx-nifty-to-us-fed-s-hawkish-pause-key-triggers-for-indian-stock-market-11686791858333.html

The US #FederalReserve announced a pause over benchmark interest rates hike on June 14, but the central bank officials see two more small hikes in 2023. #FOMC

https://www.livemint.com/market/stock-market-news/us-fomc-meet-outcome-from-rate-pause-to-road-ahead-key-takeaways-from-the-fed-decision-11686766084460.html

#Canada government has decided not to deport Indian students who are victims of immigration fraud and entered the country using fraudulent university letters of acceptance, Immigration Minister Sean Fraser said.

https://www.livemint.com/news/world/will-not-be-deported-canada-immigration-minister-assures-indian-students-on-admission-letter-scam-11686791310465.html

Despite subdued US CPI report, global market sentiments remained positive that helped Indian #stockmarket finish higher on third day in a row on Wednesday.

https://www.livemint.com/market/stock-market-news/buy-or-sell-vaishali-parekh-recommends-three-stocks-to-buy-today-15th-june-11686791386994.html

#Flipkart and #PhonePe could be $100 billion businesses in India led by strong growth, believes Walmart's chief financial officer John David Rainey.

Executives of the retail giant have earlier signalled the two businesses as key drivers in meeting its target of doubling the gross merchandise volume it sells in foreign markets to $200 billion in five years.

Read here: https://www.livemint.com/companies/start-ups/flipkart-and-phonepe-could-be-100-billion-businesses-in-india-says-walmart-cfo-11686802029156.html

#PersonalFinance | Whether you are planning overseas travel or want to send money abroad, it is always a good idea to shop around for the best #forex exchange rate.

To simplify your work, here is a list of INR to USD 💰 forex rates offered by some of the major bank & travel aggregators.

Music lovers are flocking to sound tracks of web series and direct-to-digital movies, opening up a category that was so far restricted to film music and independent music released by music labels.

https://www.livemint.com/industry/media/soundtracks-of-web-series-films-strike-a-chord-with-music-lovers-11686805137248.html

India has an estimated 116 million #GenZ consumers. In fact, two out of five urban Indian consumers aged between 15 and 55 years are Gen-Z.

https://www.livemint.com/economy/genz-takes-centre-stage-as-firms-move-away-from-millennials-11686769084010.html

About 85% of North American LPs expect their VC portfolios to see a down round, while among European LPs, 72% expect a reduction in valuation of firms in their investment portfolios.

https://www.livemint.com/companies/news/lps-in-asia-pac-more-bullish-than-counterparts-in-us-eu-11686770036978.html

#Opinion | India’s official statistical apparatus traces its origin to the colonial era, a time when the principal focus of the administrative system was maintaining law and order, and ensuring revenue collection.

https://www.livemint.com/opinion/columns/revolutionizing-official-statistics-the-untapped-potential-of-administrative-records-and-regulatory-filings-in-india-11686764643435.html

#Opinion | The SEC's regulation of cryptocurrencies as securities could lead to blockchain leadership passing over to regulated banks, providing financial stability.

https://www.livemint.com/opinion/columns/altcoindelete-wall-street-welcomes-a-crypto-crackdown-11686765317981.html

#RBI chief #ShaktikantaDas was honoured with the title of ‘Governor of the Year’ for 2023 by Central Banking in London.

The award recognised his role as the RBI chief in managing inflation and skilfully handling India's banking system during crises like COVID pandemic and global turmoils.

Read here: https://www.livemint.com/news/india/rbi-chief-shaktikanta-das-honoured-with-governor-of-the-year-award-at-central-banking-awards-2023london-11686723134489.html

#India is considering rule changes to bolster insurance penetration in the country as more companies, including foreigners, line up to enter the segment.

https://www.livemint.com/news/india/india-contemplates-regulatory-revisions-to-stimulate-731-billion-insurance-sector-11686805973331.html

We collated a list of 10 stocks from mid and smallcap space that could give healthy returns in the next one-year timeframe.

https://www.livemint.com/market/stock-market-news/midcaps-smallcaps-at-record-high-10-stocks-that-can-give-you-healthy-returns-in-one-two-year-11686807158018.html

As per the mutual funds data compiled by PRIME Database, Asset Management Companies (AMCs) have trimmed stake in six out of 10 #AdaniGroup shares in May 2023.

https://www.livemint.com/market/stock-market-news/adani-power-to-adani-enterprises-mutual-funds-sold-these-adani-shares-in-may-2023-11686812184241.html