30/09/2024
- RBI has proposed tighter regulations for HFCs. Deposit taking HFCs will have to maintain 15% liquid assets against public deposits held by them, up from a stipulated 13%.
- Wholesale inflation rises to 0.73% in December.
- Exporters feel the heat of rising costs amid Red Sea tensions.
- India’s December trade deficit contracts to $19.8 billion.
- Hyundai Motor to spend $845 million fixing Talegaon plant bought from GM.
- Fitch maintains BBB- sovereign rating for India.
- Mahindra calls for level playing field for electric vehicles amid Tesla’s entry plans. They want around 100% import duty on imported electric vehicles. Of course they don’t have any objection, if manufactured in India.
- Government disburses Rs 4415 crores in the PLI schemes so far in 23-24 for 8 sectors. India will pay close to $1.32 billion incentives under PLI schemes. That is close to Rs 10956 crores every year.
- Imports of medical devices rise 21% till October to Rs 61263 crores.
- Mahindra AeroStructures to supply 5000 varieties of components to Airbus. It is a wholly owned subsidiary of M&M.
- Adani group to invest Rs 50000 crores to set up data centre in Maharashtra.
- Foxconn is partnering with India’s HCL Group to set up an outsourced assembly and testing unit for semiconductor chips.
- India to tap around 12% of global iPhone production in FY24 up from 9% earlier.
- Tata Steel to cut around 3000 jobs in Wales. It seems that Tata Steel bought Corus just to shut it down in bits and pieces. All Rs 55000 crores gone in vain.