The International Cricket Council has announced prize money for the 2025 Champions Trophy, starting on February 19 in Pakistan. The total prize pool of this edition has been increased by an impressive 53 per cent from the 2017 edition to a total prize money of US 4.5 million Dollar. The winners will earn US 2.24 million dollar, while the runners-up will get $1.1 million.
Every group match win is worth over US 34,000 dollars, while teams finishing fifth or sixth will earn 350,000 dollars. The seventh and eighth-placed teams will take home 140,000 US dollars. All eight teams are guaranteed 125,000 US dollar for participating. This is the first ICC event in Pakistan since 1996. The tournament will run for 19 days, with 15 matches.
The Reserve Bank of India issued notice to the New India Co-operative Bank Limited, Mumbai, to hold all financial operations, including withdrawal of cash from savings bank or current accounts or any other account. However, the notice said that the bank is allowed to set off loans against deposits subject to the conditions stated in the directions.
RBI said that the notice should not be seen as suspension of banking license by RBI. The bank will continue its banking business subject to restrictions specified. The RBI continues to monitor the position of the bank and will take necessary actions including modifications of these Directions, as warranted, depending upon circumstances and in the interest of the depositors.
Non-banking finance companies (NBFCs) sought a higher external commercial borrowing (ECB) limit in their first meeting with Reserve Bank of India (RBI) governor Sanjay Malhotra, along with easier asset classification for alternative vehicle financing, freer use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act
to recovery low value loans and quicker permissions to use Aadhaar-based electronic know-your-customer. "Right now, the ECB limit for NBFCs is $750 million. NBFCs said they need a higher limit looking at the funding challenges faced by the sector. Within NBFCs, housing finance companies can only use these funds for affordable housing a restriction which has been requested.
NBFCs also flagged the ordinance promulgated by Karnataka which requires MFIs and other lending agencies to register themselves with the deputy commissioner in the district they are operating. The law gives power to the authorities to cancel the registration either suo motu or on receipt of complaints.
Public sector NBFCs such as PFC and REC pressed for a policy on green financing while gold loan NBFCs called for a differentiated non-performing assets recognition norms, saying gold is a different asset. NBFCs also reiterated their demand of being permitted to use SARFAESI even for loans below ₹20 lakh.
The board of public sector lender Bank of Baroda approved the bank's plan to raise up to Rs 8,500 crore through common equity shares to support business growth and meet regulatory norms. The Mumbai-based lender would use various modes, including Qualified Institutional Placement (QIP), in suitable tranches up to March 2028 and beyond, as required.
This will be subject to applicable statutory and regulatory approvals, the bank said in its filing with BSE. Its stock closed 0.94 per cent lower at Rs 210.7 per share on BSE. The bank’s capital adequacy stood at 15.96 per cent, with Common Equity Tier-I (CET-I) at 12.38 per cent at the end of December 2024. BoB had raised capital via QIP of Rs 4,500 crore during FY21.
Non-banking finance company (NBFC) major Shriram Finance has raised $500 million via SACE External Commercial Borrowing Push loan facility, with a tenor of 10 years, the NBFC said in a statement. SACE is an Italian export credit agency run under the government of Italy. Shriram Finance has raised over $2.5 billion in offshore funding in the current financial year.
HSBC acted as the sole export credit agency, while Coordinator and ING Bank acted as the social loan coordinator for the transaction. Umesh Revankar, Executive Vice Chairman of Shriram Finance, said the transaction shows the NBFC’s strong ability to navigate global financial markets and forge strategic partnerships with international lenders.
NTPC Ltd., India’s largest integrated power utility, has been honoured with Forward Faster Sustainability Award 2025 in the Water Resilience category. The award was presented at a ceremony organised by the UN Global Compact Network India (UN GCNI) in Chennai on 13th February.
The Forward Faster Sustainability Awards celebrate organisations in India that have made significant strides in advancing sustainability and corporate responsibility, aligning with the United Nations Sustainable Development Goals (SDGs). This recognition reaffirms NTPC’s commitment to integrating sustainable practices in its operations and contributing towards global SDG.
NTPC Ltd. is India's largest integrated power utility, contributing one-fourth of the India’s power requirements and has an installed capacity of over 77 GW, with an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity. The company is committed to achieving 60 GW of renewable energy capacity by 2032.
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 2.31% (provisional) for the month of January, 2025 (over January, 2024). Positive rate of inflation in January, 2025 is primarily due to increase in prices of manufacture of food products, food articles, other manufacturing, non-food articles and manufacture of textiles etc.
Month-over-Month Change in Major Groups of WPI:
Primary Articles (Weight 22.62%): - The index for this major group decreased by 2.01% to 189.9 (provisional) in January, 2025 from 193.8 (provisional) for the month of December, 2024. Price of food articles (-3.62%) decreased in January, 2025 as compared to December, 2024.
Fuel & Power (Weight 13.15%): - The index for this major group increased by 0.47% to 150.6 (provisional) in January, 2025 from 149.9 (provisional) for the month of December, 2024. Price of mineral oils (0.71%) and electricity (0.20%) increased in January, 2025 as compared to December, 2024.
Manufactured Products (Weight 64.23%): - The index for this major group increased by 0.14% to 143.2 (Provisional) in January, 2025 from 143.0 (Provisional) for the month of December, 2024. The annual rate of inflation based on WPI Food Index decreased from 8.89% in December, 2024 to 7.47% in January, 2025.
The third season of the Women’s Premier League (WPL) 2025 kicked off , featuring five teams competing across four Indian cities: Vadodara, Bengaluru, Lucknow, and Mumbai. The opening match will see defending champions Royal Challengers Bengaluru, RCB face Gujarat Giants at Kotambi Stadium in Vadodara.
The tournament, featuring five teams, RCB, Gujarat Giants, Delhi Capitals, UP Warriorz, and Mumbai Indians, will run until March 15, with the final scheduled at Brabourne Stadium in Mumbai. Since its establishment in 2023, the WPL has offered players a golden chance to showcase their talent and act as a springboard to fulfill their ambitions of playing for the Indian team.
The combined media entity of Reliance Industries (RIL) and The Walt Disney Company, JioStar, will launch JioHotstar, the combined streaming platform from Disney+ Hotstar and JioCinema. JioHotstar will offer shows, movies, and live sports without requiring a subscription in a single application, with subscription plans starting at Rs 149 for an uninterrupted experience.
Existing JioCinema and Disney+ Hotstar subscribers will be able to seamlessly transition and set up their JioHotstar subscriptions, the statement added. JioHotstar will offer the best of Hollywood, featuring content from Disney, NBCUniversal Peacock, Warner Bros. Discovery HBO, and Paramount, on the same platform.
Apart from this, the new app will be the primary streaming platform for premier tournaments such as International Cricket Council (ICC) events, Indian Premier League, and Women’s Premier League, along with the Indian Street Premier League and developmental matches from the Board of Control for Cricket in India (BCCI), ICC, and state associations.
The Uttar Pradesh government has set an excise revenue target of Rs 60,000 crore for the financial year 2025-26 (FY26), according to the state’s Finance Minister Suresh Khanna. For the current financial year, the Yogi Adityanath-led government aimed for Rs 58,000 crore in excise revenue. However, collection in the first three quarters reached only about Rs 31,000 crore.
In the previous years, revenue stood at Rs 41,250 crore in FY23 and Rs 47,600 crore in FY24. The state’s new excise policy has introduced an e-lottery system for allotting liquor, beer, and wine shops. Existing license holders will have the option of renewal via e-lottery in FY27.
At India Energy Week 2025, the State Oil Company of Azerbaijan Republic (SOCAR), Mangalore Refinery and Petrochemicals Limited (MRPL), and Oil and Natural Gas Corporation Limited (ONGC) have signed a non-binding Memorandum of Understanding (MoU) to explore strategic opportunities in the energy sector.
The MoU will also enable ONGC and MRPL to expand their footprint in the global energy market, positioning them strategically for growth and development. It is anticipated to foster stronger economic ties between India and Azerbaijan, contributing to enhanced energy security and cooperation between the two nations.
India's merchandise trade deficit is expected to have narrowed to USD 20.88 billion in January 2025, down from USD 21.94 billion in December 2024, according to a report by Union Bank of India. The report suggested that this improvement was primarily due to a decline in gold imports amid rising prices and the conclusion of the festival and wedding season.
The narrowing of the trade deficit was likely influenced by a decline in gold imports, as higher global prices reduced demand. Gold prices have been rising due to uncertainty in global markets, making purchases costlier. Additionally, with the festival and wedding season coming to an end, the need for gold has subsided, further contributing to the lower trade deficit.
However, the report noted that the oil trade deficit widened slightly due to an increase in global crude oil prices. Brent crude oil prices rose to USD 78.35 per barrel in January from USD 73.13 per barrel in December. As a result, India's crude oil imports saw an overall increase. Imports from other major crude oil suppliers also rose.
In contrast, oil imports from Iraq declined by 8 per cent month-on-month. India's total crude oil imports in January increased by 6 per cent, reaching 4.98 million bpd, up from 4.70 million bpd in December.
