India Financial News

«For UPI Lite, the enhanced limits shall be Rs 1,000 per transaction with Rs 5,000 being the total limit. Replenishment of used limit shall be allowed only in online mode with AFA,» said the central bank in a statement. UPI Lite is a wallet that allows users to make small-value transactions without using a UPI PIN. Currently, UPI Lite users have to manually reload their wallet balance from their bank account to continue making payments. However, with the new auto-top-up feature, the National Payments Corporation of India (NPCI) aims to streamline this process, eliminating the need for manual reloading.

capital on Wednesday due to poor offtake by stockists and retailers amid weak global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity fell by Rs 150 to Rs 78,850 per 10 grams. It had closed at Rs 79,000 per 10 grams in the previous session. Price of gold of 99.5 per cent purity extended the losses for the third straight day, declining by Rs 150 to Rs 78,450 per 10 grams from the previous close of Rs 78,600 per 10 grams.

Nilesh Shah, managing director and CEO of Kotak Mutual Fund, shared his views on the complexities surrounding food inflation and its role in economic policy during a recent event. Shah, also a part-time member of the Economic Advisory Council to the Prime Minister, questioned the way food inflation is being calculated and included in policymaking. Shah raised concerns about whether the free food distributed to over 80 crore Indians under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) is accounted for when measuring food inflation. The program, which provides free or subsidised food grains to a vast segment of the population, could impact the headline food inflation number, Shah suggested. «My only submission will be are we measuring food inflation correctly? For example, 80 crore Indians are provided free food. That cost is more than our fiscal deficit. Is the credit taken in food inflation?» said Shah while speaking at a Kotak MF event.

semiconductor chips, integrated circuits, memory chips, parts of electronic integrated circuits and micro assemblies, and amplifiers worth Rs 1.71 lakh crore in fiscal 2023-24, the minister of state for electronics and information technology, Jitin Prasada, told Lok Sabha on Wednesday. To offset the semiconductor import bill and kickstart the homegrown chip manufacturing ecosystem, the government has approved five semiconductor chip manufacturing and assembly projects with a cumulative investment of Rs 1.52 lakh crore, Prasad said in reply to a question in the lower house of the Parliament. Apart from the chip manufacturing and assembly units, the government has also approved proposals from nearly 15 semiconductor design companies under the Design Linked Incentive scheme, the minister of state said.

Swiss Re Institute report «Changing climates: the heat is (still) on», the Philippines and the US are the most economically vulnerable among 36 countries analyzed. This vulnerability is driven by the increasing severity of weather-related catastrophes like floods and tropical cyclones.

: Electric two-wheeler manufacturer PURE EV announced plans on Wednesday to expand its dealership network to over 320 outlets across India by mid-2027. The company plans to launch PuREPower in 2025, leveraging its vehicle battery and powertrain platform. «Over the next 30 months, we aim to add 250 new dealerships, expanding our network to over 320 across India. This growth will be fueled by increasing demand for long-range scooters, electric motorcycles, large B2B contracts, and our entry into the household brand segment,» PURE EV Founder and MD Nishanth Dongari said. The company currently operates with 70 dealerships.

climate risk assessments are critical for business organisations and the finance function, including the CFOs and finance teams, are key to this transformation, says a report by the Association of Chartered Certified Accountants. As business leaders have to be adequately equipped to deal with disruptions due to climate-related events, the report also has tool kits for finance teams to build resilience skills in areas of scenario testing, crisis management planning and business continuity plans. Key insights

This is a particularly notable trend in India. Currently valued at about USD 170 million, the EV leasing market is expected to develop at an astounding compound annual growth rate (CAGR) of 73%, reaching USD 4–5 billion by 2030. The increasing popularity of EVs and the growing acceptance of leasing as a wise substitute for ownership are both factors contributing to this development. Whether it is last-mile delivery companies upgrading their fleets or enterprises looking to optimise operational costs, EV leasing offers compelling advantages. Managing capital and operational costs EV leasing addresses one of the most significant challenges businesses face: high upfront capital expenditure. Purchasing EVs typically requires a substantial down payment, ranging from 10–25% of the vehicle's cost. Leasing, in contrast, demands only a security deposit equivalent to 3–6 months of lease payments, enabling businesses to scale their fleets with minimal initial investment. This approach not only preserves cash flow but also provides predictable monthly expenses, simplifying financial planning.

Subscribe to enjoy similar stories. Passenger vehicle (PV) sales, which have been struggling to maintain momentum throughout 2024, experienced yet another setback in November following the festive season-led surge, according to a Mint analysis of vehicle-registration data from the ministry of road transport and highways’ Vahan portal. PV sales contracted 7.6% year-on-year, with registrations dropping to 400,746 units in November from 433,677 units a year ago, showed the data.

Subscribe to enjoy similar stories. India’s growth in gross domestic product (GDP) of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It undershot even the most pessimistic forecasts.

Star Cement on Wednesday dismissed reports suggesting that Adani Group’s Ambuja Cement is evaluating a potential acquisition of the company to expand its presence in the North East. The company labeled the claims as speculative and clarified that no such discussions are underway. In a filing to the stock exchanges, Star Cement stated, “With reference to the news item that appeared in ‘Money Control,’ we hereby clarify that the above-mentioned news item is speculative, and the company is not engaged in any discussions in this regard.” The company further emphasised its commitment to regulatory compliance, saying, “We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.”

Samantha Ruth Prabhu recently added a fresh update to her Instagram Stories amidst the buzz surrounding Naga Chaitanya's upcoming wedding. The actress shared a clip featuring a young girl standing up to a boy who had disrespected her. The girl confidently takes him down, ending the confrontation with a calm and composed smile. In the caption accompanying the video, Samantha wrote, “Fight Like A Girl,” inspiring her followers with the empowering message. Meanwhile, Samantha seems unbothered by the chatter surrounding her ex-husband Naga Chaitanya’s nuptials. However, recently in a media interaction, she obliquely referred to how she found gifts given by an ex “useless.” Although the actress didn’t mention a name, netizens assumed she was taking a dig at Naga Chaitanya.

Elon Musk’s Starlink in India. “No Sir. The Telecommunications Act, 2023 provides for assignment of spectrum through administrative process for satellite-based services, listed in First Schedule of the Act,” Minister of state for communications and rural development Pemmasani Chandra Sekhar said in reply to a question if the decision was made to facilitate entry of Starlink into the Indian market. To a query around projected revenue loss as a result of not auctioning satellite spectrum, the Minister said spectrum assigned administratively are also chargeable and hence contribute to revenue.

Markets regulator Sebi has notified rules on nomination allowing nominees to act on behalf of incapacitated investors. Additionally, it notified the rule mandating every participant to provide beneficial owners with the option to nominate a person to whom their securities will transfer upon their death. «Every participant shall provide an option to the beneficial owner to nominate, in the manner as may be specified, a person who shall be authorised to conduct transactions on behalf of the beneficial owner in the event of the incapacitation of the beneficial owner,» Sebi said in a notification.

Lupin Ltd. 0.65 per cent to Rs 2095.05 at 01:55PM (IST) in Wednesday's trade. The stock hit a high of Rs 2099.00 and low of Rs 2062.30 so far during the session. The stock had closed at Rs 2081.40 in the previous session. The counter had a total traded volume of 01:55PM shares so far with a turnover of Rs 1.05 crore on BSE. The stock traded at a price-to-earnings multiple of 36.38 and a price-to-book ratio of 5.16.

Colgate-Palmolive (India) Ltd. 0.1 per cent to Rs 2893.15 in Wednesday's trade as of 02:00PM (IST). The stock hit a high price of Rs 2913.85 and low of Rs 2846.00 during the session.

Delhi High Court, while preventing the police from arresting activist Nadeem Khan, who was accused of "promoting enmity" through a viral video, stated on Tuesday that the country's unity is «not so fragile» and emphasized the need for greater trust in the intelligence of the common people. «We are in a democratic country… The common man isn't so fragile that merely one exhibition will shake his conviction,» Justice Jasmeet Singh said. «The country places great pride in our fundamental rights. Article 19(1)(a) is to be protected.»

Bharti Airtel, India’s second largest telco, has awarded a multi-billion deal to Swedish telecom gear maker Ericsson for extension of 4G and 5G contracts. “As per the new contract, Ericsson will deploy centralized RAN and Open RAN-ready solutions for network transformation which will help customers with wider coverage and enhanced capacity on the network. Ericsson will also undertake the software upgradation of its current deployed 4G radios thereby enhancing the customer experience,” the companies said in a joint statement Wednesday. ET had reported last month that the telco had likely finalised renewals worth $1.2 billion (about Rs 10,000 crore) with Ericsson, Nokia and Samsung and placed purchase orders for new 4G and 5G equipment.

Daksh Gupta, the 23-year-old Indian-origin CEO of AI startup Greptile, has reignited debate over work-life balance following his controversial remarks on long working hours. In a recent interview with NBC Bay Area, Gupta defended his company's demanding culture, likening it to a «rocket launch» that requires exceptional effort and commitment. «Success is a mix of hard work and luck,» Gupta explained. «When two smart teams tackle the same problem, the one that works harder and has better luck usually wins. While luck is uncontrollable, the time you invest is not.» Gupta acknowledged that such a high-pressure work environment isn't suitable for everyone and noted that many successful companies prioritize work-life balance. «If you value work-life balance, that's great. Plenty of places operate that way and thrive,» he added.

HEG and Graphite India, surged 14.2% and 7.5% respectively on Wednesday following China’s decision to implement a stricter review process for graphite exports to the U.S. This move raised expectations that the restrictions could increase demand for Indian graphite producers. HEG’s shares jumped 14.2% to a four-year high of Rs 569.70 on the BSE, while Graphite India rose 7.5% to Rs 613.05.

«I would simply say in conclusion that Donald Trump does not like a strong dollar. When he talks about the dollar, he says he would want it to go down. So, if it does keep going up, I think that he would not like that very much,» says Mark Matthews, Julius Baer. What looks like a buy America, sell emerging market trade looks like it is reversing. In last couple of days, emerging markets and especially India, they have made a comeback. So, do you think the transition what we saw after Donald Trump got elected, that long dollar trade, is that getting over? Is that getting rusty? Mark Matthews: Hard to say. There are so many moving parts to this incoming administration. But on a fair value purchasing power basis, the dollar is slightly overvalued. So, fundamentally, it should not go up anymore. But if this Trump administration really ignites the animal spirits of the US economy, if they remove sanctions, which they may do, which would attract more buying of treasuries, and if they introduce tariffs, all of that would conspire to the dollar going up more.