RBI Governor Sanjay Malhotra highlighted India’s imminent rise to the world’s third-largest economy, attributing this progress to the Pradhan Mantri Jan Dhan Yojana’s success in bolstering financial inclusion. Over 55 crore accounts have been opened, integrating diverse populations into the nation’s economic growth. He urged account holders to update KYC details and enhance digital literacy…
State Bank of India (SBI) has secured a EUR 100 million Line of Credit agreement with Agence Française de Développement (AFD) at GIFT City to promote green financing initiatives. This partnership aims to support climate mitigation and adaptation projects, furthering India’s transition to a low-carbon economy. SBI intends to build a green loan portfolio comprising…
Optiemus Infracom, in collaboration with Corning, has launched India’s first tempered glass manufacturing unit in Noida, with an initial investment of Rs 70 crore. The facility aims to produce 2.5 crore units annually, creating 600 jobs.
The Commerce Ministry of India is developing a strategy. This strategy aims to support Indian exporters facing new US tariffs. The plan includes easing liquidity and offering flexibility to SEZ units. It also promotes import substitution. E-commerce export hubs will be operationalised. The government will focus on financial and non-financial support.
Reliance Industries unveils an ambitious green energy plan, aiming to establish the world’s most comprehensive new energy system. The company will balance traditional energy dominance with increased renewable investments, targeting significant green hydrogen production and a massive integrated solar facility in Jamnagar. RIL envisions making India self-sufficient in energy within the next decade.
ONGC group refineries will continue purchasing Russian oil as long as it remains financially viable, according to Chairman Arun Kumar Singh. Subsidiaries MRPL and HPCL have been steady buyers, with no US sanctions or Indian restrictions currently in place. The company is also open to acquiring overseas upstream assets and anticipates production from its Mozambique…
Indian bank operations will proceed normally on August 30, 2025, a fifth Saturday, while digital services remain accessible during holidays. Branch visits are necessary for specific tasks like KYC updates and deceased account settlements.
Spirit Airlines has filed for bankruptcy again, despite a recent debt restructuring, aiming to reorganize routes and cut costs. The airline, led by CEO Dave Davis, assures continued operations while addressing financial challenges, including a dispute over Airbus planes. Increased competition and an inability to streamline costs after its initial bankruptcy have contributed to Spirit’s…
