The Reserve Bank of India's Monetary Policy Committee (MPC) has increased its CPI (consumer price index) inflation forecast for FY24 to 5.4 % from 5.1%. For the 2nd quarter, it projected the CPI inflation to be at 6.2% followed by 5.7 % in the 3rd quarter and 5.2 percent in the 4th quarter. It further projected CPI inflation to be at 5.2% for the 1st quarter of FY25.
The Securities and Exchange Board of India (SEBI) proposed to review the framework for borrowings by large corporates. The regulator proposed to raise the threshold for large corporates to ₹500 crore from the current ₹100 crore. It was felt that the threshold should be aligned with the threshold of high-value debt-listed entities to have uniformity in the regulations.
HCLTech has bagged a multi-billion-dollar deal to become the primary managed network services (MNS) collaborator of Verizon Business, the enterprise division of global telecom giant Verizon Communications, in all its networking deployments for global enterprise customers. The deal has an estimated new total contract value (TCV) of $ 2.1 billion for a duration of six years
As on 31.07.2023, six BioCNG plants and 11,143 small biogas plants have been commissioned under the National Bioenergy Programme. The Ministry of New and Renewable Energy notified the National Bioenergy Programme (NBP) in November, 2022 for the period 01.04.2021 to 31.03.2026. This programme, with a budgetary outlay of Rs. 1715 Crore. It shall be implemented in two phases.
Skill development agency NSDC said that a new skill centre has been inaugurated at the AIIMS, Bathinda. The centre, which has been opened as part of an agreement between NSDC International (NSDCI) and AIIMS, will upskill nursing candidates to make them job-ready in the global market.This partnership aims at enhancing the skills and capabilities of Indian nursing candidates.
The Government of India set the minimum monthly sales quota for sugar mills at 90% of their allocated quota to prevent mills from selling either more or significantly less than what they are allocated each month. The move is aimed at keeping sugar prices in check ahead of the festival season.
India and Taiwan are working on a migration and mobility agreement for greater collaboration and movement of skilled professionals between their technology industries. An agreement may also cover sectors like agriculture and manufacturing. Taiwan’s skills in semiconductor manufacturing and advanced technologies could fit well with India’s large pool of technology talent.
India has embarked on an ambitious trajectory to amplify its existing 6% share of natural gas in the energy amalgam to a formidable 15% by 2030, as the government presses forward with a suite of comprehensive measures. These include the expansion of the National Gas Grid Pipeline, expansion of the City Gas Distribution (CGD) network, setting up of LNG Terminals, etc.
India, Japan, the United States, and Australia holds the Malabar Navy Drill off the coast of Sydney from 11 August to 21 August. The Indian Navy's indigenous frontline warships INS Sahyadri and INS Kolkata along with ships and aircraft from the US Navy (USN), Japan Maritime Self Defence Force (JMSDF), and the Royal Australian Navy (RAN) will participate in the exercise.
The National Company Law Tribunal (NCLT) approved the merger scheme of India’s homegrown entertainment company Zee Entertainment Enterprises with Culver Max Entertainment (erstwhile Sony Pictures Networks India or SPNI).
NCLT is a quasi-judicial body in India that adjudicates issues relating to Indian companies. It was created in 2016 under the Companies Act.
To ensure greater transparency, the Securities and Exchange Board of India (SEBI) has mandated enhanced disclosures for a certain class of Foreign Portfolio Investors (FPIs), including furnishing details about ownership and economic interests from time to time in the manner specified by SEBI.
REC Limited, the Maharatna CPSE and a NBFC, under the Ministry of Power, has secured coveted place in the esteemed MSCI Global Standard Index, effective from 1st September 2023. The inclusion of REC in MSCI solidifies REC’s status as a leading player in the financial sector and market, and opens up new horizons to expand its reach and influence on a global scale and level.