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₹778 crore, solely for electric two- and three-wheelers, with an initial run-time of four months, which was later extended till September. For OEMs, this impending tightening could trigger a significant shift in their operational strategies. The PMP is crucial because only manufacturers that comply with its criteria are eligible for government incentives under schemes like FAME and the EMPS.

The absence of any sovereign gold bond (SGB) issuances lately has led to a buzz that the government might discontinue this instrument. The issue and redemption price of these bonds are linked to those of gold so as to wean buyers away from physical purchases of the foreign exchange-draining yellow metal.

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Pro Kabaddi League (PKL) franchises are expecting double-digit growth in sponsorship revenue from season 11 of the tournament that tentatively kicks off in October. The franchises cite PKL's consistent audience growth and low entry barrier in terms of cost compared to the Indian Premier League as evidence of its effectiveness in brand building. PKL's TV reach has jumped to 245 million in season 10, up from 222 million in season 9 and 189 million in season 8. JSW Group-owned Haryana Steelers' CEO Divyanshi Singh said the franchise is anticipating 12-15% growth in sponsorship revenue in season 11 compared with season 10.

electric vehicle manufacturing. The remaining 24 applications are in process. The approvals on Wednesday are likely to help the companies partially offset losses they are incurring in manufacturing EVs due to low volumes currently. Among the companies, Bajaj Auto is the sole automaker to get approvals for all the 13 applications filed for its electric scooter Chetak and three-wheelers. Mahindra & Mahindra got approvals for 16 out of 23 applications, Tata Motors 15 out of 27, Ola Electric four out of five, TVS Motor two out of five, and Eicher which applied for one didn't get an approval, according to an internal document showing the DVA (domestic value addition) application status.

humanoid robot was unveiled by Tesla at Robot Tesla Humanoid. Elon Musk wants to move his humanoid robot initiative forward by hiring someone to pose as a robot. The data collection operator position, paying close to $100,000, will improve the body of knowledge for Tesla's Optimus program. Musk said earlier this year that the company intends to use the humanoid robots internally as early as the following year, according to The Mirror UK. Tesla unveiled Optimus Gen 2 a few months ago, and the company anticipates that these new humanoid robots will be able to replace humans in repetitive tasks. The selected candidate must be able to move about thirty pounds of equipment while on the go for seven hours every day. They will also put on a VR headset and a motion capture suit, which might cause VR sickness symptoms.

Michael Graw is an experienced freelance finance and tech writer, specializing in cryptocurrencies, decentralized finance, and Web 3.0 since 2018. His work has been featured on various financial news...

Canada’s two biggest railways, accounting for almost 80 per cent of the national network, shut down early Thursday after talks with a union failed, immediately blocking arteries of North American supply chains that carry about $1 billion per day in trade.

deposits, private sector Bandhan Bank has unveiled a savings product exclusively for women with an aim to boost low cost deposit mobilisation. The share of Bandhan's current and savings account fell to 33.4% at the end of June, as compared with 37.1% three months prior to that. «We expect improvement in CASA (current and savings account) deposit share with this product. We are planning more innovative products which will act as important levers towards universal banking mandate,» Bandhan Bank's interim managing director Ratan Kumar Kesh told ET.

Toronto-Dominion Bank missed analysts’ estimates as wealth-management results underperformed expectations and the company took a restructuring charge related to job cuts, adding to the firm’s troubles as it also booked a new US$2.6 billion provision for fines tied to U.S. money-laundering investigations.

The perfect amount of money is not more; the perfect amount of money is enough. It is a great quote and a good philosophy.

Ghaziabad's stamp and registration department has received only 20 objections to the proposed 15 per cent to 20 per cent hike in circle rates for both residential and commercial properties. The window for filing objections or providing feedback will close in three days, with the revised rates expected to take effect on September 15, following the government's redressal of concerns on August 28, a TOI report stated.

QI Research CEO and chief strategist Danielle DiMartino Booth discusses how the Fed can get the U.S. economy back on track on 'The Big Money Show.'

A key gauge of euro-zone wages eased — reinforcing the case for the European Central Bank to continue lowering interest rates next month.

DK Shivakumar has announced plans to increase water tariffs, despite significant public opposition. Addressing the concerns, Shivakumar criticized citizens, labeling them as ungrateful and emphasizing the need for the tariff hike to ensure the survival of the Bengaluru Water Supply and Sewerage Board (BWSSB). «Citizens are ungrateful. If they don't get water, they will abuse us, call us, and put messages on WhatsApp. They don't know how difficult it is,» said Shivakumar. «Let the media and opposition abuse us. I am bound to increase the water tariff. They can criticize or protest, I won't stop. We will increase the tariff; otherwise, BWSSB won't survive.»

Credit line on UPI could surpass the $1 trillion in transaction value by 2030, Zeta a banking tech unicorn has forecasted. The credit line provides 80% of pre-approved, inactive credit customers on the UPI network with instant access to credit lines. After it was first launched in August 2016, UPI took a little over 3 years to reach 1 billion transactions in a month. Less than 5 years later, UPI clocked 13 billion transactions in April 2024 alone. Zeta has forecasted that UPI could also hit the $1 trillion mark by 2030.

financial stocks in the first fortnight of August and chose to raise exposure to defensives like healthcare, FMCG and consumer services. As against the total buying of Rs 11,646 crore in the previous fortnight, foreigners were net sellers to the tune of Rs 18,823 crore from 1-15 August.

18% of their stake since September 2022 and now own less than 20% of InterGlobe Aviation. While investors generally don’t react positively to promoters selling shares, this particular exit seems to have been conducted in a transparent and orderly manner. Investors did eventually absorb Gangwal’s gradual exit in 2023.

insurance coverage. “Historically, only a small percentage of MSMEs provided healthcare benefits to their employees as most insurers required a minimum number of employees to extend insurance coverage,” says Yogesh Agarwal, Founder & CEO, Onsurity. “Offering comprehensive healthcare benefits is necessary to help businesses differentiate themselves in a competitive talent market.” Only 5-7% of small businesses provide health insurance coverage to their employees, say industry observers.

Zomato's shares surged 3% following its acquisition of Paytm's ticketing business, marking a strategic expansion into the event and travel booking sectors. This move has sparked optimism among analysts, with brokerages setting target prices as high as Rs 335 for the stock. On Wednesday, the company's board of directors approved a share purchase and subscription agreement with One 97 Communications (Paytm operator), Wasteland Entertainment Private Limited (WEPL), and Orbgen Technologies Private Limited (OTPL) to acquire their entertainment ticketing business.

₹5 lakh) for any loss to depositors due to bank failure. That’s at the individual level. At the macro level, deposit insurance plays a key role in instilling confidence in the banking system, enabling it to lend to the real sector and thereby keep the wheels of the economy well-oiled and running.