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The market capitalisation (m-cap) of the top-10 most valued companies eroded by over Rs 2.29 lakh crore last week, with Life Insurance Corporation taking the biggest hit. On a weekly basis, the domestic equity benchmarks witnessed heavy selling. The Sensex tumbled 1,465.79 points or 2.63 per cent, while the Nifty lost 382.50 points or 2.31 per cent as investors rushed to safer assets because elevated crude oil prices triggered inflation fears. Corporate major Reliance Industries’ m-cap fell by Rs 44,311.19 crore to Rs 18,36,039.28 crore. IT bellwethers TCS and Infosys…

The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface (UPI), which will enable more people to make payments using the popular platform. At present, UPI facilitates transactions by linking savings or current accounts through users’ debit cards. ” it is proposed to allow linking of credit cards to UPI,” RBI Governor Shaktikanta Das said while announcing the regulatory moves, along with the bi-monthly policy review. He said that to start with Rupay credit cards issued by the RBI-promoted National Payments Corporation of India…

 Home, auto and other loan EMIs will rise after Reserve Bank of India on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in rise in prices that it saw continuing to hurt consumers in the near term. With inflation persistently hovering above the upper tolerance limit of 6 per cent, the RBI’s six-member rate-setting panel voted unanimously to raise the lending rate of the repurchase (repo) rate by 50 basis points to 4.90 per cent, Governor Shaktikanta Das said. The…