The Reserve Bank of India (RBI) has penalized HDFC Bank Rs 4.88 lakh for violating norms related to foreign investment while granting a term loan. Additionally, Shriram Finance Limited faces a Rs 2.70 lakh penalty for non-compliance with digital lending directions, specifically regarding loan repayments routed through a third-party account instead of directly from borrowers.
ONDC is considering reinstating subsidies for food delivery partners with a Rs 100-150 crore incentive pool, aiming to boost order volumes. This reverses a previous policy amid concerns over declining orders, which fell from 6.5 million in October 2023 to 4.1 million in May 2025.
Amidst ongoing discussions for an interim trade agreement, the US has again raised concerns at the WTO regarding India’s dairy certificate requirements, deeming them unnecessary obstacles for American exports. India has also proposed retaliatory tariffs against the US on steel and aluminium.
Trade negotiations between the US and China are progressing slower than anticipated, potentially leading to extended tariff deadlines. Deadlock persists, with limited progress in finalizing a deal. China’s dominance in rare earth metal supply, controlling 90% of global capacity, poses a threat to the global automobile industry, particularly electric vehicle production.
India anticipates the commercial launch of satellite communication services as early as December, with Starlink, Reliance Jio-SES, and Bharti-backed Eutelsat OneWeb securing necessary approvals. Spectrum allotment delays previously hindered launches, costing potential revenue.
India is set to focus on domestic production of rare earth magnets with a Rs 1,345 crore investment, aiming to reduce reliance on China, which controls a huge chunk of global processing. This move follows China’s export restrictions on these crucial materials.
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Gold price prediction today: Gold prices are showing a positive trend, recovering from recent lows, currently trading around ₹97,247. Experts suggest a ‘Buy on Dip’ strategy near ₹97,000, with a stop-loss at ₹96,450. Technical indicators like EMA alignment and Bollinger Bands signal bullish momentum.
Tesla is poised to inaugurate its first showroom in Mumbai on July 15, marking its entry into the Indian automotive market. Tesla has shown no interest in establishing local production units, focusing solely on showrooms.
