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Biz EOD: Lakshmi Vilas Bank's crisis; how KBC, Dream11 winners are taxed; Sensex, Nifty reach lifetime highs

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | November 19, 2020 | Updated 00:09 IST
Biz EOD: Lakshmi Vilas Bank's crisis; how KBC, Dream11 winners are taxed; Sensex, Nifty reach lifetime highs
Top stories from the world of business and economy

Lakshmi Vilas Bank has been put under moratorium by the RBI for 30 days, effective from 6:00 pm on November 17 till December 16. If you played poker or rummy on Diwali or are a Dream11 team player you must know the money you win is not entirely yours and the prize money, similar to income from other sources, will attract taxes just like your primary income. During Wednesday's session, Sensex and Nifty touched their lifetime highs of 44,215 and 12,948, respectively. Read for more top stories from the world of business and economy:

1) Game of one-upmanship! Pfizer now says vaccine efficacy 95% - not 90%

Pfizer says Phase 3 study of their COVID-19 vaccine candidate met "all primary efficacy endpoints". During its early analysis, vaccine had shown 90 per cent efficacy but final analysis involving 170 confirmed cases of COVID-19 showed 95 per cent efficacy.

2) Lakshmi Vilas Bank under moratorium: What does it mean for depositors?

LVB is a small bank and its failure won't significantly impact the banking sector, but it's the loss of confidence and trust in banking system that has escalated with this crisis.

3) BT Insight: How Kaun Banega Crorepati, Dream11 winners get taxed

If you are a Dream11 team player you must know the money you win is not entirely yours. The prize money is your income from other sources that will attract taxes just like your primary income. Prize money in Kaun Banega Crorepati is also taxed.

4) Sensex closes above 44,000 for first time; banking, auto stocks lead rally

During the session, Sensex and Nifty touched their lifetime highs of 44,215 and 12,948, respectively.

5) Infosys co-founder Narayana Murthy says COVID-19 vaccine should be free of cost

Narayana Murthy appealed to companies who can afford to bear the cost to give the vaccines for free. He also said that UN Security Council members should share a major part of this cos.

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