Top headlines: Rs 76k-cr scheme for semiconductors; RBI penalty on 2 banks

Business Standard brings you the top stories on Wednesday

Cabinet approves Rs 76,000-cr PLI scheme for semiconductor manufacturing

The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production.

Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips form a crucial part of electronics. Read more

Rupee plunges 40 paise to 20-month low against dollar on low risk appetite

The rupee plunged by 40 paise to a 20-month low level on Wednesday as