Industry

Government Plans Scheme to Boost Battery Component Manufacturing

By BPN News Desk January 16, 2025

The government is reportedly working on a comprehensive scheme to promote the domestic manufacturing of critical battery components, marking a significant step toward boosting clean energy initiatives and reducing reliance on imports. This initiative is seen as pivotal to fostering a robust ecosystem for electric vehicles (EVs) and energy storage systems. Focus on Battery

Finance

Raghuram Rajan: Rupee Fall Not Concerning, It’s a Dollar Issue

By BPN News Desk January 16, 2025

Raghuram Rajan downplays concerns over the rupee's depreciation, attributing it to global dollar strength.

Finance

UPI Payments Now Accepted at Dubai Duty Free Stores

By BPN News Desk January 16, 2025

Indian travelers can now use UPI for seamless transactions at Dubai Duty Free outlets, enhancing shopping convenience.

Finance

Small Finance Banks’ Profitability Hit by Rising Costs

By BPN News Desk January 16, 2025

Small Finance Banks in India face declining profitability due to rising funding and credit costs, with RoA projected at 1.4-1.6% for FY25.

Industry

Government Initiates Measures to Alleviate MSME Compliance and Financing Challenges

By BPN News Desk January 16, 2025

The Indian government is engaging with stakeholders to streamline compliance procedures and enhance financing avenues for Micro, Small, and Medium Enterprises (MSMEs).

Industry

Indian Aviation Industry Faces ₹2,000-3,000 Crore Loss in FY25

By BPN News Desk January 15, 2025

The domestic aviation industry in India is projected to face a net loss of ₹2,000-3,000 crore in the financial year 2025, according to a recent report. The anticipated losses stem from persistent challenges, including elevated costs, fluctuating fuel prices, and competitive pressures on ticket pricing. High Operating Costs Impact Margins The report highlights that while

Finance

CII Proposes 10-Point Plan to Boost Ease of Doing Business

By BPN News Desk January 15, 2025

In anticipation of the Union Budget 2025, the Confederation of Indian Industry (CII) has proposed a comprehensive 10-point plan aimed at improving the ease of doing business and fostering economic growth. These recommendations emphasize policy reforms, infrastructure development, and taxation simplifications to create a more conducive environment for businesses. Key

Trade

India’s Trade Deficit Narrows to $21.94 Billion in December

By Editor - News Desk January 15, 2025

In December 2024, India’s merchandise trade deficit decreased to $21.94 billion, a significant reduction from the record $31.86 billion observed in November. This improvement is largely attributed to a substantial decline in gold imports, which halved to $4.7 billion during the month. Export Performance Merchandise exports experienced a slight contraction of 1%

Business

Meta to Lay Off 3,600 Employees Amid Restructuring

By BPN News Desk January 15, 2025

Meta, the parent company of Facebook, Instagram, and WhatsApp, has announced its decision to lay off 3,600 employees as part of an ongoing workforce restructuring initiative. The move aligns with CEO Mark Zuckerberg’s vision to streamline operations and improve organizational efficiency. Zuckerberg Focuses on “Raising the Bar” In a statement addressing the

Finance

Government Pushes for Geotagging of Banking Correspondents

By BPN News Desk January 15, 2025

The Ministry of Finance is exploring a proposal to implement geotagging for all banking correspondents (BCs) across the country. This initiative aims to enhance the efficiency of financial inclusion efforts, ensuring better access to banking services in underserved areas. Enhancing Financial Inclusion Geotagging involves attaching geographical information to the locations