In this issue

June 09, 2023

4 states breach 10% adoption of e-2-wheelers

National average jumps to 5.6%

3 mins

Govt Wants Petrol & Diesel Prices Slashed; OMCs Cite Covid Losses

State oil-marketing companies (OMCs) have made up for losses and can be expected to lower petrol and diesel pump prices, said a top official from the Ministry of Petroleum and Natural Gas.

2 mins

RBI maintains status quo, turns hawkish on inflation

REPO RATE RETAINED AT 6.5%; INFLATION TARGET BACK AT 4% AFTER 3 YEARS. CENTRAL BANK KEEPS GROWTH PROJECTION FOR FY24 UNCHANGED AT 6.5%

2 mins

Byju's legal battle may hit arm IPO, fund-raise plans

The legal battle between Byju's and lenders in the US on the edtech (TLB) is expected to adversely affect its fundraising, including debt, loan, and equity, according to industry sources and experts.

1 min

Pharma mkt may swallow ₹824-cr pill post FDC ban

The central government's recently banned 14 fixed-dose combination (FDC) drugs in the \"larger public good\", citing lack of \"therapeutic justification\" and potential risks to individuals, will have an ₹824crore impact on the ₹1.8-trillion domestic pharmaceutical (pharma) market.

2 mins

Vistara to add 10 planes in FY24

Full-service carrier Vistara expects to add a total of 10 planes and more than 1,000 people in the current financial year. The airline has also shelved plans to fly to the US, according to a top executive.

1 min

Margins remain a pain point for organised FMCG supply-chain cos

Experts say gross margins are low, with the last-mile supply chain and retailer not making money

3 mins

Monsoon reaches Kerala after longest delay in four years

52% of India net cultivated area relies on monsoon

2 mins

IBBI proposes changes to voting on bids for bankrupt companies

New system of voting on more than one resolution plans, extending the timeline for submission of claims, and introducing audit for insolvency resolution process cost in some cases are among a series of changes the Insolvency and Bankruptcy Board of India (IBBI) has proposed to the existing insolvency regulations under IBC.

2 mins

RBI defines technical write-offs for REs

The Reserve Bank of India (RBI) on Thursday prescribed a comprehensive regulatory framework for regulated entities (RES) for compromise settlements and technical write-offs to provide further impetus to resolving stressed assets and rationalising and harmonising instructions.

1 min

RBI warns tech firms of unauthorised trading platforms on app stores

Technology companies have to be cautious about unauthorised electronic trading platforms (ETPs) available for download despite being on the central bank's alert list, said Reserve Bank of India (RBI) deputy governor Michael Patra on Thursday.

1 min

CBDC QR codes likely to be interoperable with UPI

RBI plans to have 1 million active e-rupee customers by the end of this month

1 min

Noose tightening around Trump in Mar-a-Lago case

Federal prosecutors formally informed Donald Trump's lawyers last week that the former president is a target of the criminal investigation examining his of retention national security materials at his Mar-a-Lago resort and obstruction of justice, according to two people briefed on the matter.

1 min

Power shock: Eurozone enters recession on German revision

Along with Germany, GDP also declined in Greece, Ireland, Lithuania, Malta, and the Netherlands

2 mins

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