“Fall Up Seven Times, Get up Eight”
The Noble Price for Economics has been awarded to 3 people.
Mr Ben S Bernanke, Douglas W Diamond and Philip H Dybvi won the award this year for their role in helping people understand the role of banks in the economy.
Their research was into how banks function in the modern world. This research has practical use in regulating the financial crisis and how banks operate during that time.
They developed the research in the aftermath of the 2008 financial meltdown. However, this research proved useful after the COVID pandemic and helped central banks around the world to take action
Online gaming to be regulated in India
New regulations proposed by the Ministry of Electronics and Information Technology have proposed a new set of regulations to regulate online gaming in India.
With the rise of online gaming, this new law is bringing in a clear definition between what is a game of skill and a game of chance.
For a long time, games of chance have been considered gambling in India and are banned in many states. With the new law, the online gaming industry will be brought under the Prevention of Money Laundering Act 2002.
OPEC+ decides to cut crude oil production
On Thursday, the OPEC + countries ( The countries that produce crude oil) decided to cut production to improve the price of the oil. However, they announced that countries in Asia will get their full quota of requirement meaning there would be deeper cuts elsewhere. Europe may face a cold winter.
Nifty 50 falls below 17250
Domestic equity market NSE Nifty 50 ended nearly half a per cent down on Monday. Stocks of TCS, Maruti Suzuki, Tech Mahindra, Wipro, Infosys, and M&M were among the top index gainers. However, Asian Paints, Titan Company, ITC, Reliance Industries (RIL), and Housing Development Finance Corporation (HDFC), dragged the index the most.
Indian Women’s cricket team beat Thailand by 9 wickets in Asia Cup
Indian women’s team managed to bowl out Thailand for just 37 runs in 15 overs. After that India managed to chase the score in just 6 overs.
Sneh Rana picked up 3 wickets, while Rajeswari Gaikwad and Smriti Madhana picked up 2 wickets each.