Business Standard - December 25, 2024

In this issue

December 25, 2024

RBI report sees signs of economic recovery in Q3

Cites strong festival season, rural demand pickup; FPI flows positive

2 mins

FIEO bets on 5 sectors to drive exports to US under Trump

The Federation of Indian Export Organisations (FIEO), the apex body for exporters, is formulating a strategy for five key sectors to boost exports to the United States (US), as President-elect Donald Trump has threatened to impose high tariffs on Chinese goods.

1 min

How India, the 'bright spot', can continue to shine

Over the past 25 years, India has risen up the pecking order to become the world's fastest growing major economy. The third part of the series looks at the areas it needs to focus on to realise its $5 trillion ambition and be counted among the top three economies

5 mins

NSO REPORT ON UNINCORPORATED SECTOR Fresh job creation slows in 2023-24

Fresh employment generation in the unincorporated sector slowed in the October 2023-September 2024 period, with additional job creation dipping to 10.97 million during this interval as compared to the equivalent figure of 11.74 million in October 2022-September 2023.

2 mins

Fundamental change in mindset can help achieve Viksit Bharat: PM

Ahead of the presentation of the Budget for the next financial year (FY26), Prime Minister Narendra Modi on Tuesday interacted with a group of economists on the theme \"Maintaining India's growth momentum at a time of global uncertainty\".

1 min

BPCL okays ₹95K cr refinery in Andhra

The State-run Bharat Petroleum Corporation Ltd (BPCL) board on Tuesday cleared the decks to kick off pre-project activities for its plans to set up a ₹95,000-crore greenfield refinery at Ramayapatnam in Nellore district of Andhra Pradesh, with a capacity of 9 MTPA.

1 min

Realty lays bricks for growth

2024 a mixed bag for real estate, but experts see slew of launches in coming year

3 mins

When Zoho CEO Wanted to Hire Trump's New AI Advisor

When Sriram Krishnan was studying at SRM Engineering College in Chennai during 2001-05, Sridhar Vembu, founder of tech firm Zoho Corporation, came across his blog.

2 mins

Impact of July's tariff hike by telcos almost over: Analysts

The impact of subscriber churn and SIM consolidation following the broad-based tariff hike by private telecom players in July may be over, and the market has largely absorbed the price hike, analysts said on Tuesday.

1 min

FINTECH LENDING UP 21.3% IN H1FY25, VALUE JUMPS 40%

The volume of loan disbursals by FACE member companies rose 21.3 per cent to 56.4 million loans in the first half of FY25 (H1FY25), up from 46.5 million in H1FY24, data shows.

1 min

Dabur moves HC to stop Patanjali's 'disparaging' ad

Leading consumer goods firm Dabur on Tuesday filed a petition in the Delhi High Court against rival Patanjali Ayurved, seeking to restrain it from running 'disparaging' advertisements against its chyawanprash products, according to a report from Bar and Bench.

1 min

Automobile sales losing pace

Just two years ago, automobiles were one of the better-performing sectors, having quickly got back on its feet after the pandemic to post record sales.

2 mins

Action likely against AbbVie exec who vowed to follow rules

American drug major AbbVie Healthcare's Indian arm, which is under the scanner for sponsoring foreign trips of 30 doctors in violation of the Uniform Code for Pharmaceutical Marketing Practices (UCPMP) rules, may be in for more trouble as the government is mulling taking action against the company executive who signed the self-declaration to abide by the rules, government sources said.

1 min

V2 set to see ₹1.8K cr revenue in FY25

Delhi-based consumer retail brand V2 Retail is focusing on enhancing customer experience and expanding product ranges to drive long-term growth.

1 min

DGCA slaps ₹10 lakh fine on Akasa Air

The Directorate General of Civil Aviation (DGCA) has fined Akasa Air ₹10 lakh for denying boarding to seven passengers on its Bengaluru-Pune flight on September 6 and failing to provide the mandatory compensation.

1 min

Greaves Electric Mobility files IPO papers to raise ₹1,000 cr

Greaves Electric Mobility Limited (GEML), the electric-vehicle (EV) maker behind brands like Ampere, Eltra, and Ele, has filed its draft red herring prospectus with the Securities and Exchange Board of India to raise ₹1,000 crore through an initial public offering (IPO).

1 min

E-pharmacy to reduce operating losses in FY26

India's online pharmacy sector is on track to reduce operating losses to below 10 per cent in the next financial year (FY26), a sharp improvement from over 30 per cent in FY23, rating agency CRISIL said.

1 min

NFRA imposes ₹2 crore fine on Deloitte over ZEEL audit

Also penalises two CAs with ₹15 lakh for professional misconduct

2 mins

Increase in rupee volatility shows little signs of abating

The expected volatility of the rupee, which had spiked this month, shows little signs of abating even as the currency hits new all-time lows.

2 mins

Govt launches AI tools to boost consumer safety

Food and Consumer Affairs Minister Pralhad Joshi on Tuesday launched several initiatives to strengthen consumer protection, including artificial intelligence (AI)-enabled helpline and tools to detect deceptive marketing practices, while major e-commerce players pledged to enhance online shopping safety.

1 min

Net sold $9.2 bn, highest since Sep 2022

The Reserve Bank of India (RBI) net sold $9.2 billion in October, highest monthly sale since September 2022, more than two years, when the RBI had net sold $10.3 billion worth of the greenback.

1 min

Wheat acreage raises hopes of regular harvest

The area covered under wheat has matched the normal acreage of the past five years during the week ending December 20.

1 min

Rupee touches new low for 6th session in a row

LIQUIDITY DEFICIT WIDENS TO 7-MTH HIGH

1 min

BYD Workers Found in 'Slave' Conditions at Brazil Site

BYD has severed ties with a construction firm after Brazilian authorities halted construction of a new electric vehicle plant where workers were found working and living in \"slavery\"-like conditions.

1 min

Biden to decide on US Steel takeover after panel deadlocks

A US national security panel has deadlocked on its review of the sale of United States Steel Corp to Nippon Steel Corp, a procedural development that opens the door for President Joe Biden (pictured) to block the transaction.

1 min

China plans $411bn bond issuance next yr

Move comes amid expected increase in US tariffs on Chinese imports

1 min

Shift and diverge: Why mergers like Honda-Nissan's often crash

The Japanese automakers Honda and Nissan are discussing a possible merger, in a bid to share costs and help themselves compete in a fast-changing and increasingly competitive industry.

3 mins

Four big promises

Budget 2025 will have achieved a lot if it fulfils the promises made in July 2024

5 mins

Middle-class strain on consumption

In recent weeks, a slowdown in private consumption has dominated headlines.

4 mins

Progress report

State govt finances need attention

2 mins

History without context

This is a difficult work to describe, leave alone classify. Take the title. It suggests that the author's great-grandfather (the titular character) had possibly a consequence comparable to that of the Mohan, Mahatma Gandhi, as far as the British Empire was concerned. It doesn't take the reader long to discover the presumptuousness of it, since Mohanlal Killawala was nothing of that ilk; he was a mere blip in the Empire in the Indian Ocean and does not merit even a footnote.

3 mins

Computing power

Google's new chip can scale up quantum computing

2 mins

Angel One MF sets its sights on passive edge

Passive-only fund house to leverage online, traditional channels

1 min

10 funds on thin ice under IFSCA's watchful gaze

Regulator draws line in sand for funds failing to meet 'substance' requirements

2 mins

Indo Farm Equipment listing to open for subscription on Dec 31

Indo Farm Equipment on Tuesday fixed a price band of ₹204 to ₹215 per share for its initial share sale that opens for public subscription on December 31.

1 min

Mkts settle flat in volatile trade

Benchmark indices Sensex and Nifty ended on a flat note in a volatile trade on Tuesday, as investors preferred to stay on the sidelines awaiting further triggers amid persistent foreign fund outflows.

1 min

HDFC Bank's growth engine ready to roar into overdrive from FY26

After the merger, HDFC Bank has performed quite well, with an in-line performance in the July-September quarter (Q2) of 2024-25 (FY25).

2 mins

Senores outshines the pack; Carraro crawls, Ventive soars

The response to the three initial public offerings (IPOs) that closed on Tuesday was mixed.

1 min

Caramelised popcorn in theatres may stay in 5% slab

Single rate on sale of all old, used vehicles, including EVs

2 mins

BCs meet Irdai, seek consent to sell insurance products

The Business Correspondent Resource Council (BCRC) has made a pitch to the Insurance Regulatory and Development Authority of India (Irdai) that field agents be allowed to hawk insurance products.

1 min

Manipur, Bihar, other states get new governors

Former Union Home Secretary Ajay Kumar Bhalla has been appointed the governor of strife-torn Manipur, ex-Army chief Vijay Kumar Singh is the new Mizoram governor while Kerala Governor Arif Mohammed Khan has been shifted to Bihar as part of gubernatorial appointments effected by President Droupadi Murmu on Tuesday.

1 min

Credit card spend falls 16% in Nov after festival high

Decline due to moderation in consumer spending; issuances come down

2 mins

The charts Indian policymakers should worry about

In a series of recent pieces, we have been arguing that the just-ended Reserve Bank of India (RBI) regime made a radical change in exchange rate policy, which reduced export competitiveness and rendered monetary policy inappropriate for a slowing economy.

5 mins

Statesman who shaped India with his vision and resolve

Today, 25th December is a very special day for all of us. Our nation marks the 100th jayanti of our beloved former Prime Minister, Shri Atal Bihari Vajpayee Ji.

4 mins

Consumer fickleness on the rise as phygital shopping takes root

Omnichannel shopping, or the phygital (physical and digital) experience, is gaining traction as the preferred way to shop among Indian consumers, who are increasingly forsaking physical stores. However, customer loyalty is becoming increasingly fickle, as consumers frequently switch brands and retailers.

2 mins

Bhaker accepts 'lapse' on her part amid Khel Ratna row

Paris Olympics' double bronze-medallist Manu Bhaker on Tuesday admitted that \"there has been a lapse maybe on my part\" while filing nominations for this year's National Sports Awards amid a raging controversy over her exclusion from the list of Dhyan Chand Khel Ratna awardees.

1 min

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