Top headlines: Govt okays capital infusion in 3 state-run general insurers

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Govt approves Rs 12,450-cr capital infusion in 3 state-run general insurers
The Union Cabinet on Wednesday approved capital infusion of Rs 12,450 crore in three state-owned general insurance companies to strengthen their capital base and make them more stable. The National Insurance Company, Oriental Insurance Company and United Insurance Company will get the additional capital, Information and Broadcasting Minister Prakash Javadekar told reporters after the cabinet meeting. Read more

Free foodgrain scheme till November has got cabinet approval: Sitharaman
The cabinet has approved a scheme to provide free foodgrain to 800 million poor till the end of November, said Finance Minister Nirmala Sitharaman on Twitter on Wednesday. Prime Minister Narendra Modi, on June 30, had announced a scheme called Garib Kalyan Anna Yojana will be extended by five months to ensure that millions of poor in the country get food during the coronavirus pandemic. Read more

Instagram starts testing TikTok competitor feature Reels in India
Facebook-owned Instagram said on Wednesday it would begin testing its Reels feature in India, as it seeks to replace TikTok, the widely popular short-video service the government banned more than a week ago along with 58 other Chinese apps. Read more here

Students taking combination of in-person, online courses can get visas: US
Foreign students who have taken a combination of in-person and online courses in the US will be eligible for visas, the country said after a new rule appeared to be asking them to leave. Read more here

SBI cuts MCLR by 5-10 bps up to three months tenor to revive demand
The country’s largest lender State Bank of India has decided to reduce Marginal Cost of Funds-based lending rate on short-term loans by 5-10 basis points to boost credit off take and revive demand. Read more here

UTI MF to side-pocket debt exposure to Zee Learn following downgrade
UTI Mutual Fund has proposed to side-pocket exposure to Zee Learn in two of its schemes - UTI Credit Risk Fund and UTI Medium Term Fund -- after the company’s debt papers were downgraded to below-investment grade on Tuesday. Read more here

Govt sets up team to coordinate probe against three Gandhi family trusts
The government has set up an inter-ministerial team to coordinate the probe the alleged violation of various laws like money laundering and foreign contributions by three Nehru-Gandhi family linked trusts, including the Rajiv Gandhi Foundation. Read more here

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