Key Economic Gauges may Shift Base to FY23 TLDR of the Article: The government is deliberating on shifting the base year for key economic indices to FY23 (2022-23). This move aims to better reflect the structural changes in the Indian economy. Additionally, there are plans to revamp several economic datasets. Which Indian Companies will be […]
eUPI Growth 2.0: Efforts on to Crack DBT Code TLDR of the Article: The Reserve Bank of India (RBI) and banks are working towards encouraging beneficiaries of the government’s direct benefit transfer (DBT) schemes to use the Unified Payments Interface (UPI) platform for their routine transactions. This move aims to promote digital transactions and reduce
Blackstone Teams up with GIC, ADIA for Haldiram Snacks Bid TLDR Of the Article: A consortium led by Blackstone, along with Abu Dhabi Investment Authority (ADIA) and GIC of Singapore, submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food (HSFPL). Which Indian Companies will be affected: Haldiram Snacks Food (HSFPL), a
India to Ink 10-yr Chabahar Port Pact with Tehran TLDR Of the Article: India is set to sign an agreement with Iran to manage Chabahar Port for the next 10 years. This move is regarded as a significant geopolitical outreach to Iran, which will have major regional ramifications. The agreement is being signed in the
RBI Looks at ARCs Amid a Flood of Allegations TLDR Of the Article: The Reserve Bank of India (RBI) leadership is scheduled to meet with the top management of asset reconstruction companies (ARCs) next week. The meeting aims to discuss corporate governance and stressed-asset resolutions amid concerns of potential back-door entry by defaulting promoters. Which
Indices Sink as D St Takes Cues from Poll Street TLDR Of the Article: India’s stock benchmarks dropped 1.5% on Tuesday, one of the biggest single-day drops in 2024 so far. The drop was due to the perception that the BJP may not get as many seats in the general election as projected earlier. Investors
eGovt Gains PSU Muscle as Stocks Climb Peaks TLDR of the Article: The state ownership in listed firms, measured by the value of shares held, surged to a seven-year high of 10.38% of total market capitalization as of March 31, 2023. This increase was driven by a robust rally in several public sector unit (PSU)
Govt Takes Closer Look at Infra Loans Proposal TLDR Of the Article: The government is evaluating the Reserve Bank of India’s (RBI) draft rules that call for higher provisioning (setting aside funds as reserves) for infrastructure projects. Banks and lenders are likely to oppose these draft rules on multiple forums. Which Indian Companies will be
RBI Strictures on Infra Financing TLDR of the Article: Shares of state-owned banks, non-banking finance companies (NBFCs), and infrastructure firms plunged up to 10% on Monday. This was due to the Reserve Bank of India’s (RBI) tougher draft guidelines on the financing and accounting of project loans. Which Indian Companies will be affected: State-owned banks
For 4G Upgrade, Nokia & Ericsson on Vi Speed Dial TLDR Of the Article: Vodafone Idea (Vi) is expediting talks with European vendors Nokia and Ericsson to upgrade its 4G network. Purchase orders for the 4G network upgrade are likely to be issued in June-July. These deals may also include initial 5G contracts. Which Indian