On the 29th of June, the Board of Executive Directors of the World Bank approved $1.5 billion in financing to India. Its aim is to accelerate India’s development of low-carbon energy. It will help India promote low-carbon energy in three separate ways. First, with more finance at its disposal, India will scale up and accelerate the pace … Read more
The Payments Council of India (PCI), a representative body of the non-banking payment industry in India, welcomed the Reserve Bank of India’s (RBI) move to enable the issuing of tokens for cards via internet and commercial banks. This RBI decision, announced through a recent circular, will empower cardholders by offering them an additional option to … Read more
The long wait for entry of Tesla cars may be over as the Indian government is reportedly working on a new electric vehicle policy reducing import duty on imported cars. According to a report by Reuters, officials in the Modi government have said that the new policy could allow automobile companies to import fully-built electric cars to … Read more
On Sunday (27 August), Prime Minister Narendra Modi delivered a keynote address at the Business 20 (B20) Summit 2023 which is organised by CII. Notably, B20 is the official G20 dialogue forum with the global business community. Through his address, PM Modi laid a strong pitch for inviting business leaders and investors to become a … Read more
A financial influencer (finfluencer) who was also involved in imparting training related to stock market trading has been asked to part with a little over Rs 12 crore, which it made unlawfully. The person, Ravindra Balu Bharti, is directed to credit/deposit the money to an interest bearing Escrow Account created specifically for the purpose in … Read more
Ashneer Grover, co-founder of BharatPe, said on Tuesday, September 26, that an alleged Rs 55,000-crore Goods and Services Tax (GST) demand from online gambling companies will not help India attain its goal of being a $5-trillion economy. Grover is the founder of the fantasy game app Crickpe. Grover stated on the X platform (previously Twitter) that “na … Read more
The United States has not asked India to stop or reduce its oil imports from Russia and nor has it sanctioned any Indian entity for buying and refining crude oil purchased from Russia since the beginning of its war with Ukraine, according senior American officials from the United States Treasury Department. “There is no restriction, … Read more
India has added nearly 5.2 crore new formal jobs between the financial year 2020 and 2023, according to an SBI research report. The report was based on an analysis of the Employee Provident Fund Organisation (EPFO), National Pension Scheme (NPS), and Employees State Insurance Corporation (ESIC). 2.7 crore new employees were added during the same period, according … Read more
In a major development, the United States has strongly opposed China’s claim of sovereignty over Arunachal Pradesh, describing it as “unilateral attempts” by Beijing to assert its territorial claims. Biden administration’s response comes after China released a new list of Chinese names for 30 sites in India’s northeastern state. “The United States strongly opposes any … Read more
Billionaire Elon Musk-led Tesla Inc. has initiated its search to identify sites for building its proposed $2 billion to $3 billion Electric car plant in India. On Wednesday (3rd April), the UK’s Financial Times reported that the electric vehicle (EV) maker will send its team to India by late April to scout sites. As per the report, the team’s … Read more