Top headlines: Japan to support firms moving to India, SC rejects exam plea

From Japan subsidising manufacturing firms moving to India or Bangladesh from China to IndiGo planning to shelve planned QIP if travel picks up, here are the top headlines of the evening

Japan to subsidise manufacturers if they shift to India from China: Report

Japanese manufacturers will be eligible for government subsidies if they shift production out of China to India or Bangladesh, said a media report on Friday. The subsidy programme aims to diversifying Japan's supply chains. Manufacturers can receive subsidies for feasibility studies and pilot programs. The total amount granted is expected to run into the tens of millions of dollars, said the Nikkei Asian Review. Read More...

Covid-19 impact: IndiGo may shelve approved QIP plan if air travel picks up

India’s largest airline IndiGo may not go ahead with its fundraising initiative if revenue from sales increases.The board of directors of the company had last month approved a plan to raise upto Rs 4,000 crore through a qualified institutions placement (QIP). QIP is a capital-raising tool through which listed companies can sell shares, fully and partly convertible debentures, or any securities, other than warrants that are convertible into equity shares, to qualified institutional buyers. Read More...

Auto industry not in position to make investments for new norms: SIAM

Auto industry assocation SIAM on Friday said that manufacturers were not in a position to invest further in the implementation of upcoming government regulations as the sector was going through an extremely difficult period. Society of Indian Automobile Manufacturers (SIAM) also noted that government support was required to pursue the targets set under the Automotive Mission Plan 2026 (AMP 2026). Read More...

Loans up to Rs 50 cr for start-ups get priority sector tag in new RBI norms

The Reserve Bank of India (RBI) has revised the norms for the Priority Sector Lending (PSL) to support start-ups and the renewable energy sector. Loans up to R 50 crore for start-ups would be treated as PSL exposure for banks. For health infrastructure, including entities working under the government's 'Ayushman Bharat' scheme, the lending has been doubled to Rs 10 crore. Such loans will be available for building healthcare facilities in Tier II to Tier VI cities. For Urban Cooperatives Banks (UCBs), the above limits are applicable only in centres having a population of less than one lakh. Read More...

SC dismisses Opposition-ruled states' plea, JEE, NEET to go ahead

The Supreme Court on Friday rejected a review petition filed against its order allowing the centre to hold the National Eligibility cum Entrance Test (NEET) and Joint Entrance Examination (JEE) in September. There is no merit in the petition, Justices Ashok Bhushan, BR Gavai and Krishna Murari said after considering it in their chambers. "No case is made out for reconsidering our earlier decision," said the top court, according to NDTV. Read More...