Top headlines: WhatsApp defers privacy terms, low turnout for Covid shot

From WhatsApp deferring privacy terms to low turnout for the Covid shot, Business Standard brings you the top headlines

Low turnout for the shot as six states vaccinate 17,000 on Sunday

As India rolled out Covid-19 vaccines, many people adopted a wait-and-watch approach. India vaccinated over 17,000 healthcare workers in 553 sessions on the second day of the Covid vaccination drive across six states, taking the total number of vaccinations to 224,301. There were more than 400 adverse events following the jab, such as fever, headache and nausea, the health ministry said on Sunday. Read more...

Budget 2021: Govt likely to target fiscal deficit at 4% of GDP by FY26

The Centre is likely to lay down a road map in the upcoming Budget to reduce its fiscal deficit to 4 per cent of gross domestic product (GDP) by 2025-26. This is necessary because there will be demands for expansionary policies, even in the next couple of years. This implies the government is set to deviate from the long-standing medium-term target of 2.5-3 per cent of GDP as prescribed by amendments to the Fiscal Responsibility and Budget Management Act (FRBM). Read more

WhatsApp defers privacy terms for three months but Signal still on top

Social media major Facebook may have been forced by a backlash to defer its controversial new privacy terms for WhatsApp for three months but this has not stalled the rising popularity of its rivals, Signal and Telegram. Read more
 

The new playbook: RBI steps in to stem the nexus between banks and fintechs

Last week, the Reserve Bank of India (RBI) red-flagged the proliferation in digital lending platforms and fintech applications. “This in itself tells you a lot about the close association which has developed between banks and fintechs,” says Ajay Garg, founder-managing director of Equirus Capital. Read more
 

The A is now The Quorum: Rana Kapoor family-led business club changes hands

Almost a year after the country went into lockdown, the A, a membership-only business club funded by now-jailed Yes Bank promoter, Rana Kapoor, and run by the trust his daughters operated, has changed hands. The 56,000-sq-ft facility located in the Indiabulls office complex in Parel, Mumbai and owned by Nucleus Office Space, a subsidiary of private equity giant Blackstone Group, will now be managed and run by promoters of the Gurugram-based club, The Quorum. Read more

Legal hurdles await DHFL resolution process; lenders meeting today

Piramal group emerged the preferred bidder for resolution of the troubled Dewan Housing Finance Corporation (DHFL). However, its intent to have DHFL under its wing may take time as the process is likely to meet a legal challenge from competing bidder Oaktree. Read more

Short-term interest rates increase 25-30 basis points, shows data
Interest rates have inched up in the economy, notwithstanding the status quo in the monetary policy and continuation of the accommodative stance. The reason why short-term rates have spiked is liquidity normalisation. Read more