13/01/2025
The Government spending on PLI every year will be figure to watch out. It was Rs 4645 crores in FY 24. So, new production worth 46450 crores under PLI took place in 2024. For the new year, the allocation is Rs 6200 crores, but many projects under PLI will begin commercial production in 24-25. This allocated figure might go up. RBI on Friday proposed to lenders that they set aside higher provisions for under construction infrastructure projects and asked them to ensure strict monitoring of any emerging stress. Ola Cab CEO quits. Company to lay off around 10% employees. SEBI on Tuesday allowed NRIs to own up to 100% in global funds [currently cannot own more than 50%] set up at the GIFT city, while also permitting passive funds greater exposure to group companies. Mutual fund (MF) schemes, at present, can invest not more than 25 per cent of their net asset value (NAV) in group companies of the sponsor. The limit has been raised to 35 per cent, subject to certain conditions. US consumer confidence lowest since 2022. India's core sector slowed down to 5.2% in March. Aurobindo made one acquisition in South Africa worth about Rs 119 crores. The sale of US divison of Eugia sold off and value realised at around Rs 452 crores. Dr Reddy's Labs announces the launch of Doxycycline Capsules 40 mg in the USA. Amazon and Google have suspended green card applications for immigrants in the US for the year 2024.