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No major events are scheduled. LIVECHAT - LIVE FROM DAVOS As the world’s top leaders gather at the World Economic Forum to discuss critical issues arising from Globalisation 4.0 and the Fourth Industrial Revolution, we untangle some of these challenges with industry experts and peers, brainstorm our own strategies and share valuable takeaways. Gilberto Caldart, President, International, Mastercard, joins us in the Global Markets Forum at 1:30 pm IST. To join the conversation, click here INDIA TOP NEWS Modi considers cheap loans, other help for small Indian businesses - sources Prime Minister Narendra Modi is considering offering cheap loans and free accidental insurance coverage to millions of small businesses, two government sources with direct knowledge of the matter said, as he tries to placate a key voter bloc ahead of a general election due by May. Kotak Mahindra Bank profit climbs 23 percent on higher interest income Kotak Mahindra Bank, India's fifth-biggest lender by market capitalisation, reported on Monday a 23 percent rise in third-quarter net profit, helped by higher interest income and a write-back of provisions made for mark-to-market losses. Union Bank of India third-quarter profit misses estimates Union Bank of India reported its third straight quarterly profit on Monday as the state-controlled lender made lower provisions for bad loans, but missed analysts' estimates by a wide margin, sending its shares sharply lower. Lockheed sees potential exports of 200 F-16 jets from proposed Indian plant Lockheed Martin sees a potential export market of more than $20 billion for its F-16 fighter aircraft from an assembly line in India it has offered to set up in order to win a large Indian military order, a top executive said. Hindustan Zinc third-quarter profit falls Hindustan Zinc posted a 3.8 pct fall in third-quarter profit on Monday, in a period marred with higher expenses. GLOBAL TOP STORIES IMF, CEOs sound warnings as leaders gather in Davos The International Monetary Fund trimmed its global growth forecasts on Monday and a survey showed increasing pessimism among business chiefs as trade tensions and uncertainty loomed over the world's biggest annual gathering of the rich and powerful. PM May tries to tweak defeated Brexit plan, refuses to rule out no-deal British Prime Minister Theresa May sought to break the parliamentary deadlock over Brexit on Monday by proposing to seek further concessions from the European Union on a plan to prevent customs checks on the Irish border. Democratic U.S. Senator Kamala Harris jumps into 2020 White House race First-term Democratic Senator Kamala Harris of California, a rising party star and outspoken critic of President Donald Trump's immigration policies, launched her 2020 campaign for the White House on Monday by touting her experience as a prosecutor.

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STATE OF THE MARKETS SGX Nifty nearest-month futures were trading 0.1 percent lower at 10,956.00 from its previous close. -NewsRise The Indian rupee is expected to open steady against the dollar, with traders eyeing crude oil prices and other Asian currencies for further cues. -NewsRise Indian government bonds are expected to edge lower in early trade before fresh supply of state debt. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in a 7.55 percent - 7.60 percent band today. -NewsRise Asian shares and U.S. stock futures slipped as pessimism about world growth drove investors away from risky assets, while sterling dithered as the latest plan for Brexit appeared to come and go with no progress. The dollar hovered near 2-week highs against its peers as a slowdown in China's economy to 28-year lows revived investor concerns over global growth and supported safe-haven currencies. Oil prices edged lower as concerns over global economic growth stoked fears over future demand. Gold prices held steady, supported by concerns over a slowdown in global economic growth and uncertainty around Brexit, although a firm dollar pressured the safe-haven metal.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 71.23/71.26 January 21 -$42.15 mln -$160.06 mln

10-yr bond yield 7.57 pct Month-to-date -$554.53 mln -$684.66 mln

Year-to-date --- ---

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PICTURE OF THE DAY

Devotees gather near a fire to keep warm as they prepare to take part for the Swasthani Brata Katha festival in Bhaktapur, Nepal, January 21. REUTERS/Navesh Chitrakar