The disaster management teams in Odisha are on high alert due to a brewing cyclonic storm in the Bay of Bengal, which is forecast to bring heavy rainfall to the state from October 27.

While the cyclone is not expected to make a direct landfall in Odisha, it is still likely to cause widespread downpours and gusty winds.

Bihar Chief Minister Nitish Kumar addressed a public meeting in Danapur on Friday and promised to provide 10 million job opportunities to the state's youth over the next 5 years.

Speaking at the election rally, he said, "One million people have already been granted government jobs, and 4 million have received job opportunities. 10 million people will be given job opportunities over the next 5 years."

Prime Minister Narendra Modi on Saturday extended greetings on the occasion of Chhath, a four-day festival to worship the Sun god celebrated across the country, especially in Bihar, Jharkhand and eastern UP.

"With the sacred ritual of 'Nahay-Khay', the four-day grand festival of Chhath begins today. I extend my heartfelt wishes to devotees across Bihar and the entire nation. My respect and salute to all those observing the fast," the prime minister said in a post on X.

Banks will be able to give loans to Indian companies for acquiring the entire equity stake or a controlling part of it in domestic or foreign firms as strategic investment that creates long-term value rather than for short-term financial restructuring if the Reserve Bank of India’s (RBI’s) draft circular, issued on Friday, comes to fruition.

However, the circular’s condition is that acquiring companies are listed entities with satisfactory net worth and have been profitable for the previous three years.

The Securities and Exchange Board of India (Sebi) has restricted mutual funds (MFs) from participating in pre-IPO placements of equity shares. It clarified that MFs can invest in unlisted shares only as anchor investors ahead of an IPO.

An anchor allotment takes place a day before an IPO opens to the public, while pre-IPO placements are made in the months leading up to the listing.

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