Top headlines: CWC postpones important decision; iron ore surges 10%

LIC's holding in listed companies at all-time low, BharatPe plans to disburse Rs 14,000 cr in business loans, and other top news of the day

Congress postpones party president election
 

The Congress Working Committee unanimously decided on Monday to postpone the election to the post of party president until the Covid-19 situation in the country improves, sources said. The Congress had earlier decided to have a new Congress president in place before June 2021 and the party's central election authority chaired by Madhusudan Mistry had proposed holding the election on June 23. Read here

Iron ore's 10% surge adds to commodities boom
 

Iron ore futures surged more than 10% and copper jumped to a record amid increasing bets they’ll be among the biggest winners from a commodities boom that’s stoking concerns about inflation around the world. While market participants struggled to pinpoint a trigger for Monday’s gains in iron ore, they cited several ongoing trends including optimism that central banks will retain supportive policies even as the global economy recovers. Read here
 

LIC's holding in listed companies at all-time low
 

LIC's holding across 296 companies where its holding is more than 1 per cent slipped to an all-time low of 3.66 per cent as on March 31, 2021, down from 3.70 per cent as on December 31, 2020 and from all-time high of 5 per cent as on June 30, 2012, as per primeinfobase.com, an initiative of PRIME Database Group. Read here
 

BharatPe plans to disburse Rs 14,000 cr in business loans by March 2023
 

Fintech company BharatPe, which is soon expected to become a unicorn, has raised Rs 50 crore in debt from Northern Arc Capital, one of India’s leading digital debt finance platforms focused on improving access to finance for under-served businesses and individuals in India. This is the sixth round of debt financing for BharatPe in the year 2021. In January this year, the company had raised Rs 200 crore from three top debt companies in the country. Read here