BUSINESS
EV sales see spike in India, from 48,179 in 2020-21 to 4,42,901 in 2022-23
Minister of Heavy Industries, Mahendra Nath Pandey, said in a written reply in the Lok Sabha on Tuesday that the ministry has implemented a scheme titled 'Faster Adoption and Manufacturing of Electric Vehicles in India Phase II' (FAME India Phase II) to promote adoption of electric/hybrid vehicles in the country.
Elon Musk actively searching for new Twitter CEO: Report
The report came as Elon Musk said that the US government "paid Twitter millions of dollars to censor info from the public". According to a CNBC report, Musk has been actively searching for a replacement even before posting the poll on Sunday. In fact, that search has been "ongoing", the report added.
Growth momentum to be positive for India: RBI bulletin
"Waning input cost pressures, still buoyant corporate sales, and turn-up in investments in fixed assets are heralding the beginning of an upturn in the capex cycle in India, which will contribute to a speeding up of growth momentum in the Indian economy," the bulletin said.
Bank of Japan maintains rates, widens range of long-term bonds
The BOJ said its yields on the bonds would be adjusted from a range of plus and minus 0.25 per cent to a range of plus and minus 0.5 per cent, reports Xinhua news agency.
Demand for power in India to decelerate in 2nd Half of FY23: Fitch Ratings
According to the credit rating agency Fitch, the demand for power in India grew at 11.3 per cent year-on-year (YoY) during the first half of FY23 due to post pandemic rebound and a low base during 1HFY22.Fitch Ratings expects India's power demand to grow by around eight in FY23 (FY22: 8.2 per cent).
Former FTX CEO Bankman-Fried agrees to be extradited to US
SBF was arrested from his penthouse in the Bahamas last week and has been officially charged by the US authorities with defrauding equity investors.According to the New York Times, a local lawyer in the Bahamas for Bankman-Fried said that against "the strongest possible legal advice," SBF is ready to voluntarily agree to extradition to the US.
Bank of England unveils design of King Charles banknotes
In a statement, the central bank said the portrait of the King will appear on existing designs of all four polymer banknotes (5, 10, 20 and 50 pounds), with no other changes to the existing designs.The King's image will appear on the front of the banknotes, as well as in cameo in the see-through security window.
HDFC revises RPLR on home loans by 35 basis points
The HDFC said that it would increase its RPLR on housing loans by 35 basis points, on which its Adjustable Rate Home Loans (ARHL) are benchmarked. Earlier this month, the RBI had hiked repo rate by 0.35 per cent, from 5.9 per cent to 6.25 per cent. HDFC Ltd offers low home loan interest rates starting from 8.20 per cent per annum, the statement said.
Finance Minister says need to simplify refund process for depositors
Replying to a question by NCP member Supriya Sule during Question Hour in tnhe Lok Sabha on writing off of bad loans and their recovery and problems faced by depositors, Sitharaman said: "Unfortunately, the processes (of recovering money) are so layered that by the time justice is sought to be delivered, many of the small depositors are put to extreme difficulty. There is definitely a need to look at how we can simplify the process without denying justice."
Indigo tops with 55.7% market share, Vistara 2nd, AI 3rd in Nov
As per the data for November of aviation regulator DGCA released on Monday, Indigo carried 65.01 lakh air passengers during the month while Vistara carried 10.87 lakh. Air India was at third position with 10.63 lakh passengers and 9.1 per cent market share. Similarly, Go Air, with 8.70 lakh passengers, had a market share of 7.5 per cent during November.
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