The de-listing offer of Vedanta Ltd has failed, according to the data available on the stock exchange website. To de-list the shares from the bourses, Vedanta’s UK promoters required 134 crore shares. According to the BSE website, only 125.47 crore shares were tendered till 7.20 pm.

However, the company can come out with a revised price. But it may not get shares below ₹320 a piece for de-listing as LIC has sought that price for tendering its nearly 24 crore shares. Neither the merchant banker to the de-listing offer nor Vedanta issued any statement till the time of going to the press.

UK promoters of Vedanta hold around 50 per cent in the company and had to acquire 40 per cent stake to de-list.

“Bidding for Vendanta was extended till 7 pm and data till 7.20 pm show that the threshold 90 per cent bid has not been received. If

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October 10, 2020, marks the 28th anniversary of the inauguration of Kolkata’s Vidyasagar Setu — or the second Hooghly bridge. Time then for a quiz on bridges.

Building bridges

1 The Howrah Bridge — another Kolkata icon and also the first Hooghly bridge — is the busiest in the world in terms of pedestrian traffic. But the George Washington Bridge is the busiest in terms of vehicular traffic. In which city would you find it?

2 If an overpass is a bridge that separates incompatible intersecting traffic, especially road and rail, and a viaduct is a bridge that connects points of equal height, what is the term for a bridge that carries water?

3 Which famous bridge — also a tourist favourite — was nicknamed the ‘wobbly bridge’ by its city’s residents after pedestrians experienced an alarming swaying motion on the day of inauguration?

4 The Half Way to Hell

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* Starting a food trail with bhang is perhaps a Jaisalmer speciality — given that the city is among the handful in India where bhang, an edible mixture made with the leaves and flowers of cannabis plant, is available in authorised shops

* Dhanraj Ranmal Bhatia is a shop that specialises in two varieties of laddoos: Ghotua and panchdhari

* Kanchan Shree Ice Cream on Gadisar Road is famous for the yellow makhaniya lassi

“Taste it. It’s mild. You won’t feel anything,” Dr Bhang says as he places a tray laden with cookies in front of me. I eye the innocent-looking sugar-sprinkled biscuits with suspicion, knowing fully well that they are laced with bhang. Harish Giri, my guide, is observing me keenly. I decide to give the tasting a miss and ask for a takeaway, instead.

Starting a food trail with bhang is perhaps a Jaisalmer speciality — given that

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The complete 68-day lockdown and gradual unlock-1, 2, 3 and 4 of the economy of India is showing its effects now. The GDP growth in Q1 FY21 contracted by a massive 23.9 per cent. This means the fiscal support and monetary stimulus did not work significantly. The GDP fell to ₹26.9 lakh crore in constant terms and ₹38.08 lakh crore in nominal terms. Former chief statistician Pronab Sen says the actual shrink of GDP is 35 per cent.

This is the first GDP contraction of India in more than 40 years and the steepest shrink in G20 countries. Everyone was expecting the GDP to shrink 5-10 per cent even though the SBI had expected a 16.5 per cent fall, and the NCAER, 26 per cent. The full-year GDP could perform worse as the Covid cases are yet to peak. A rough estimate would be a decline of 7 per cent

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Asian stocks traded mixed Wednesday as investors weighed U.S. dip buying against remarks from Federal Reserve officials that pointed to a slow economic recovery. The dollar rebound stalled at key technical resistance.

Japanese shares dipped as traders returned from a holiday, while benchmarks in Australia and South Korea saw modest gains. S&P 500 futures were little changed after most sectors in the index advanced overnight, with retailers and tech stocks among the biggest gainers. Bank shares fell. Crude oil dipped and Treasuries were steady.

 

U.S. shares had slipped earlier Tuesday after Fed Chairman Jerome Powell said the economy has a long way to go before fully recovering and will need further support. Meanwhile, Chicago Fed President Charles Evans noted that rates could rise before the inflation target is reached.

Global stocks are on track for their first monthly drop since March on the lack of another U.S. fiscal stimulus package

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The RBI mandates banks to finance priority sectors (such as agriculture) up to 40 per cent in overall bank credit. The mandate for agriculture credit is up to 18 per cent.

The priority sector lending (PSL) guidelines issued on September 4 rightly emphasised the necessity of financing agriculture in myriad ways; financing in 184 credit-starved districts (where per capita priority sector lending is ₹6,000) and higher weightage for such loans, stepping up loans to small and marginal farmers from 8 per cent to 10 per cent in a phased manner, emphasis on financing: farmer producer organisations, pledge and warehouse receipt loans, start-ups, etc.

Agriculture credit comprises short-term (loans <18 months) and long-term (loans >18 months) loans. The loans given to agriculture reached a respectable ₹13.74 lakh crore in FY2020 and bankers should be acknowledged for achieving agriculture credit targets every year.

Long-term loans

But an inconvenient fact that lingers is

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In November 2019, we received an email: “Thank you for your email. I confirm my participation as a jury member in the Businessline Awards for Changemakers.” — Isher Judge Ahluwalia.

Isher, however, couldn’t attend the final jury meeting of BL’s awards owing to ill health; still, she continued to communicate with us enthusiastically, exhibiting impeccable professionalism — a trait that’s amply evident in her memoir — Breaking Through — as well.

Written at a time when she is fighting her own battle with a disease, the book is deeply personal. “In life, one never knows what comes next,” writes Isher. “It is always a surprise.”

The book is about the life of a leading Indian policy economist. So, it definitely talks economics, but with a difference. Isher speaks the language of reforms — both social and economic. She was a professor at the Centre for Policy Research, and then director,

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On this day in 1851, the first America’s Cup was won by the yacht, America. This quiz is all about famous sporting trophies.

Trophy run

1 The Claret Jug trophy was born in 1872, after a certain Tom Morris took the last Challenge Belt home by winning the tournament three times in a row. Name the international event which awards the Claret Jug.

2 The oldest trophy awarded in professional sport in North America, this was named after the governor-general of Canada, who donated it in the late 19th century. By what name is this trophy, awarded to the ice hockey champion of the continent, known today?

3 A rosewater dish was a ceremonial platter or basin used in England to collect the perfumed water that was poured over a diner’s hands at the end of a meal. Later, the dish became an item of display. For which sporting

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