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Get the latest scoop on India's business landscape! This round-up covers market trends, RBI's latest norms, plus exciting ventures & financial updates.
RBI's New Norms
The Reserve Bank of India has issued new project finance norms for banks and NBFCs, with potential impacts on business models. This aligns with ongoing efforts to regulate and streamline financial practices across the country. The RBI is working to ensure financial stability and proper regulation. New regulations are meant to make it more transparent.
Market & Finance
The Indian market experienced fluctuations, with the Sensex and Nifty falling for the third consecutive day, impacted by geopolitical tensions. Telcos' AGR has seen a rise to ₹79,226 Cr. Meanwhile, the rupee saw a dip, falling 30 paise against the US dollar. Gold prices fell by ₹150 and silver plunged by ₹1000.
Business Ventures Thrive
Several Indian companies are making waves. Maini Precision Products will supply Safran aircraft engine parts. HCLTech will transform Just Energy using AI. Several IPOs are set to open with some company listings like Ellenbarrie IPO which opens on June 24 with a share price between ₹380-400. Also, India witnessed a surge in Indian-owned UK businesses by 23%.
Tech, Exports, and More
GalaxEye plans to launch its 2nd satellite by 2027. India is also exporting fresh Jamun fruit to London. Amazon India is expanding in Rajasthan. Various partnerships and investments were announced, including Uno Minda's investment in an EV casting facility of Rs 210 cr and Crisil's acquisition of an OPL stake for Rs 33 Cr.
Sustainable Initiatives
India is pushing for sustainable practices. The Coffee Board is helping producers meet EU deforestation norms. Also, NTPC is launching hydrogen fuel buses in Leh as a green mobility initiative. Attero is set to scale up rare earth recycling. Additionally, Hindustan Power is planning a 120 MWh Bihar battery storage system to strengthen India's green drive.
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