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Biz EOD: Abhijit Banerjee wins Nobel Prize; IRCTC gives 100% returns; PSBs are 'flush with money,' says FM

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Biz EOD: Abhijit Banerjee wins Nobel Prize; IRCTC gives 100% returns; PSBs are 'flush with money,' says FM
Top stories from the world of business and economy.

Indian-origin economist Abhijit Banerjee has been awarded the Nobel Prize for his efforts to alleviate global poverty. Shares of IRCTC made a strong debut on the BSE and NSE with shares listing at more than double its issue price. The nine-day outreach programme or loan mela organised by public sector banks from October 1 saw loans to the tune of Rs 81,781 crore being disbursed, the Finance Ministry said. Read for more top stories from the world of business and economy:

1. Indian-origin economist Abhijit Banerjee awarded Nobel Prize

Abhijit Banerjee receives Nobel Prize: He has received the award along with economists Esther Duflo and Michael Kremer.

2. IRCTC share turns Rs 1 lakh into Rs 2.29 lakh in a single day

IRCTC share price ended 129% higher than the issue price of Rs 320 on NSE. It closed with a gain of 17.09% or 107 points at Rs 733. The stock got listed at a price of Rs 626.

3. Retail inflation rises to 14-month high of 3.99% in September

This happens to be the fourteenth straight month where retail inflation has remained below the Reserve Bank of India's medium term target of 4 per cent.

4. All public sector banks are 'flush with money': FM Nirmala Sitharaman on liquidity

In a media briefing after a meeting with PSB chiefs the Finance Minister said that the banks have sufficient liquidity, and are ready to lend to all sectors including medium and small-scale enterprises (MSMEs).

5. Ratan Tata turns investor for Pune-based EV startup Tork Motors

With this, the company joins a list of more than two dozen startups that Tata has invested in so far including the likes of Snapdeal, Ola, Urban Ladder, Xiaomi, Zivame, PayTM, UrbanClap and Lenskart that have gone on to become unicorns.

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