Finance

Supreme Court Removes 30% Cap on Credit Card Late Payment Interest

By BPN News Desk December 21, 2024

In a landmark decision, the Supreme Court of India has removed the 30% per annum interest cap previously imposed on late credit card bill payments. The ruling provides financial institutions greater autonomy in determining interest rates on overdue payments, sparking widespread discussion in the financial and consumer sectors. Interest Rate Regulation Left to Banks The

Industry

SECI Defends Power Project Transfer to Adani

By BPN News Desk December 20, 2024

The Solar Energy Corporation of India (SECI) has defended its decision to transfer a 2,333 MW renewable energy project from Azure Power to the Adani Group. The decision has sparked significant debate, with concerns raised about the transparency and fairness of the deal. Background on the Transfer The project, originally awarded to Azure Power, was […]

Industry

Supreme Court Orders ED to Transfer Bhushan Power & Steel Assets to JSW Steel

By BPN News Desk December 14, 2024

The Supreme Court has directed the Enforcement Directorate (ED) to transfer Bhushan Power & Steel Limited (BPSL) assets worth ₹4,025 crore to JSW Steel, putting an end to a prolonged dispute. This decision clears the path for JSW Steel to assume complete ownership of the bankrupt company’s properties. Final Settlement of Ownership The apex court […]

Finance

Sanjay Malhotra Takes Charge as 26th RBI Governor

By BPN News Desk December 11, 2024

Sanjay Malhotra officially took charge as the 26th Governor of the Reserve Bank of India (RBI) on Monday, succeeding Shaktikanta Das. With extensive experience in financial and economic management, Malhotra’s appointment signals a continuation of efforts to bolster India’s monetary and fiscal stability. Upon assuming office, Malhotra expressed his commitment to

Finance

Gold Prices Drop by ₹190, Silver Gains ₹350 Amid Market Volatility

By BPN News Desk December 10, 2024

Gold prices fell by ₹190 to ₹78,960 per 10 grams in the Indian markets on Monday, reflecting shifts in global and domestic demand. However, silver prices climbed ₹350, reaching ₹98,900 per kilogram, signaling mixed trends in precious metal markets. This movement in prices came amid varying international spot market trends. Gold traded lower internationally at […]

Business

India Introduces Non-Tariff Barriers to Boost Solar Cell Manufacturing

By BPN News Desk December 10, 2024

In a significant move to enhance domestic solar manufacturing, the Indian government has imposed non-tariff barriers on solar cell imports. This measure is aimed at reducing dependency on foreign suppliers, particularly from China, while fostering local production. The Ministry of New and Renewable Energy (MNRE) announced that solar cell imports must now meet stringent

Finance

India’s Logistics Costs to Drop to 9% of GDP by 2026

By Editor - News Desk December 9, 2024

India aims to bring down its logistics costs from 16% of GDP to 9% within the next two to three years, as announced by Union Minister Nitin Gadkari. This ambitious target seeks to strengthen economic competitiveness by streamlining the nation’s supply chain infrastructure. Infrastructure Development Initiatives The government is accelerating infrastructure projects,

Finance

India’s Inflation Expected to Ease to 5.4% in November

By Editor - News Desk December 9, 2024

Decline in Vegetable Prices Expected to Ease India’s Inflation India’s inflation rate is anticipated to decrease to 5.4% in November 2024, down from 6.21% in October, primarily due to a significant drop in vegetable prices. This decline is expected to provide relief to consumers and may influence the Reserve Bank of India’s (RBI) monetary policy […]

Business Markets

India Inc’s Record ₹1.33 Lakh Crore Fundraising Amid IPO Boom

By Editor - News Desk December 9, 2024

In a remarkable display of financial dynamism, Indian corporations have collectively raised an unprecedented ₹1.33 lakh crore through initial public offerings (IPOs) in the current fiscal year. This surge underscores a robust investor confidence and a vibrant capital market ecosystem. Surge in IPO Activity The fiscal year has witnessed a significant uptick in IPO activity,

Finance

Economists Advocate New Manufacturing Policy in Pre-Budget Meet

By BPN News Desk December 7, 2024

In a pre-Budget consultation chaired by Finance Minister Nirmala Sitharaman, economists called for the introduction of a new manufacturing policy to stimulate economic growth. The meeting, held as part of preparations for the Union Budget 2024-25, focused on strategies to boost private investments and revitalize India’s industrial sector. Push for Manufacturing and