RBI has maintained a hawkish tone in the last two policy reviews, and those steps were to further reinforce the point that the central bank is not dropping its guard on inflation any time soon

Shaktikanta Das

Business Standard

The government has set a fiscal deficit target of 5.9 per cent of GDP for FY24

govt spending, fiscal budget, budget

Shares of Ashapura Minechem were locked in the 5 per cent upper circuit at Rs 460.25 on the BSE.

Sensex, Nifty, stock brokers

Several smaller fintechs have tie-ups with banks and non-bank finance companies for small-ticket personal loans

banks, loans, bank regulations, fintech

Reuters

Stocks to Watch on December 7, 2023: As per reports, Warburg Pincus is offloading shares in Bharti Airtel and IDFC First Bank

bse, stock market, markets

The Indian National Space Promotion and Authorization Centre (IN-SPACe) on Monday announced the launch of a seed fund scheme for start-ups operating in the area of urban development and disaster management by using space technology.
As part of the scheme, selected start-ups will receive seed funding for transforming an original idea into a prototype using space technology, ISRO facility support including Earth Observation (EO) data for validation of the concept, mentorship support, and access to data algorithm as transfer of technology from Department of Science (DoS), according to a statement.
The scheme has the provision of providing financial assistance of up to Rs 1 crore in addition to mentorship support, training and networking opportunities, it said.
IN-SPACe is the nodal agency in DoS, responsible for promoting, enabling, authorising as well as supervising space activities of the Non-Government Entities (NGEs).
The scheme will provide opportunities for NGEs that leverage sp

startups

Press Trust of India

Fractious politics can slow reforms and derail policymaking, and contentious elections can encourage the prioritisation of short-term growth, Fitch Ratings said on Monday as a large number of nations go to the polls.
In its Global Sovereigns Outlook 2024, Fitch highlighted that a large number of elections are scheduled in 2024, including Bangladesh, Croatia, Dominican Republic, El Salvador, India, Indonesia, Korea, Mexico, Pakistan, Panama, Romania, South Africa, Sri Lanka, Taiwan and the US. UK elections must be before the end of January 2025.
"Fractious politics can slow reforms and derail policymaking, and contentious elections can encourage the prioritisation of short-term growth objectives over longer-term structural initiatives," it said.
Fitch said lower inflation might not help incumbents much, given prices remain well above pre-pandemic levels in most countries.
The international environment is marred by two major conflicts entering 2024, neither of which appears to be on 

Fitch Ratings

Six Nepalese nationals serving in the Russian Army have been killed in the war with Ukraine, the government announced on Monday, urging Moscow not to recruit Nepali citizens into its forces.
Nepal's Foreign Ministry in a statement identified the deceased as Pritam Karki of Syangja, Ganga Raj Moktan of Ilam, Raj Kumar Karki of Dolakha, Rupak Karki of Kapilvastu, Dewan Rai of Kaski and Sandeep Thapaliya of Gorkha.
The ministry has requested Russia to send the bodies of the Nepalis killed in the Russia-Ukraine war and provide compensation to the victims' families, the statement said.
Nepal has also requested Russia not to recruit its citizens into the Russian army and if any Nepali nationals have been recruited, to immediately return them to Nepal.
The ministry also said that diplomatic efforts are on to release one Nepalese who has been made hostage by the Ukraine while serving in the Russian Army.
It has also appealed to the general public to travel to Russia only with a No Objecti

nepal flag

The Congress has convened a meeting of all 230 candidates on Tuesday to discuss the defeat in the Madhya Pradesh assembly elections and the reasons behind the poor performance, party leaders said.
The meeting will also discuss how to strengthen the party and the way forward, a leader said.
MP Congress president Kamal Nath is scheduled to address the meeting. Senior leaders Digvijaya Singh, Suresh Pachouri and others will discuss the causes of the party's debacle with the participants, sources said on Monday.
The Congress has called a meeting on Tuesday of all the 230 candidates who contested the November 17 assembly polls," MP media cell chief KK Mishra confirmed to PTI.
The BJP on Sunday cruised to a two-thirds majority in the MP assembly, winning 163 of the 230 seats, restricting the Congress to just 66.
Your attendance is necessary at the important meeting. You are requested to arrive at the Pradesh Congress Committee at 11 am, as per a letter sent to the candidates on Monday.

Congress, Congress manifesto

The Indian Energy Exchange (IEX) on Monday posted 17.5 per cent growth in its overall trade volume to 9,136 million units (MU) in November 2023 as compared to the year-ago period.
The exchange had recorded total trade volume of 7,764 MU in November 2022, as per IEX data.
"IEX achieved 9,136 MU overall volume, including 7.55 lakh Renewable Energy Certificates (RECs) (equivalent to 755 MU), marking a 17.5 per cent increase on YoY (year-on-year) basis," an IEX statement said.
IEX achieved 8,371 MU total electricity volume in November 2023, registering an increase of 13 per cent on YoY basis.
Market clearing price in Day Ahead Market (DAM) during November 2023 was Rs 3.98 per unit, down 13 per cent year-on-year, due to various factors including lower demand owing to festive season, temperature drop and  improved sell side liquidity on the exchange, it stated.
Price on the exchange has been experiencing a downward trend and the average monthly price is at its lowest level this financia

New electricity tariff rules

S&P said that India will be the fastest-growing emerging market in the world, but its paramount test will be whether the country can become the next big global manufacturing hub

indian gdp, indian gdp growth

The BJP has twice now won majorities in India's parliament by sweeping almost every constituency in the north and the west of the country

PM Modi, Narendra Modi

Bloomberg

Before India and China can commit to a future without coal, there are geopolitical and technological hurdles that need to be resolved

coal supply, power, energy, mining

Tata Group-owned airline said that the move is expected to help Air India save $1 million annually

Air India moves its entire IT infra to cloud

West Bengal Chief Minister Mamata Banerjee on Monday said she won't be able to attend the upcoming opposition INDIA bloc meeting scheduled in Delhi on December 6, citing prior engagements in North Bengal.
Banerjee said she was unaware of the meeting date and indicated that had she been informed in advance, "she would have rescheduled her itinerary."
Leaders of the opposition INDIA bloc are set to convene at the residence of Congress president Mallikarjun Kharge in Delhi on December 6 to formulate a strategy for the 2024 Lok Sabha elections, as per sources on Sunday.
"I will be visiting North Bengal from December 6- December 11. I was not aware of the meeting date on December 6. Had I known about the meeting date beforehand, then I could have rescheduled my visit," Banerjee told reporters outside Raj Bhawan.
The participation of any other leader from the party at the meeting remains unclear at this point.
Banerjee, accompanied by her nephew and TMC national general secretary Abhish

Mamata Banerjee

Senior BJP leader and former Rajasthan Chief Minister Vasundhara Raje will meet party president JP Nadda in Delhi amid a suspense over the BJP's CM pick for Rajasthan on Thursday

Rajasthan Chief Minister Vasundhara Raje during an election rally in support of the BJP candidates, in Bhilwara | Photo: PTI

vasundhara raje

The government has provided a one-time exemption from the export ban to Indian Rice Exporters Federation for shipping 20 metric tonnes (MT) of non-basmati white rice as a donation to Nepal for earthquake-affected people.
Last month, the government provided a similar exemption to Patanjali Ayurved.
Though exports of non-basmati white rice were banned on July 20 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs and on request.
"One time exemption from prohibition is granted to Indian Rice Exporters Federation for exports of 20 MT of non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or glazed)...as donation to Nepal earthquake victims," the directorate general of foreign trade (DGFT) said in a notification.
In a separate DGFT notification, the government permitted exports of 2.40 lakh tonnes of non-basmati white rice to five countries, including ...

Basmati Rice

The Armed Forces Flag Day is observed every year on December 7 since 1949 in honour of soldiers who fought to keep the country safe

PM Modi

The last date to submit bids for green hydrogen and electrolyser manufacturing projects under the government's SIGHT Scheme ends on December 12, Parliament was informed on Thursday.
In January 2023, the Union Cabinet approved the National Green Hydrogen Mission (NGHM) with an outlay of Rs 19,744 crore with an aim to make India a global hub for manufacturing this clean source of energy.
The mission is expected to lead to development of 5 Million Metric Tons per annum of green hydrogen production capacity by 2030, New and Renewable Energy Minister R K Singh said in Lok Sabha.
"Request for selection (RfS) has also been issued for selection of green hydrogen producers for setting up production facilities of 4,50,000 tonnes for green hydrogen in India under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme (Mode-1-Tranche-I) on July 10, 2023. Last date for submission of bids is December 12, 2023," he said.
Singh further said that December 12, is also the last date

green hydrogen

India will add another 38 gigawatt (GW) of renewable energy capacity by March 2025 to touch 170 GW-mark, aided by moderation in solar module prices, an Icra analyst said on Thursday.
The country's installed renewable energy capacity was at 130 GW as of October 2023, Vikram V, Vice President & Sector Head - Corporate Ratings, Icra, said in a webinar.
Indian Renewable Energy (RE) capacity is expected to reach 170 GW by March 2025, led by strong policy support and moderation in solar module prices, he said.
The capacity addition thereafter is likely to be supported by the significant improvement in tendering activity in the current fiscal with over 16 GW projects bid out so far and another 17 GW bids underway by the central nodal agencies, Vikram said.
The share of RE-based round-the-clock (RTC) projects is expected to rise in upcoming tenders to mitigate the intermittency risk associated with renewables.
This is in line with the 50 GW annual bidding trajectory announced by the ...

wind turbine, wind mill, renewable power, energy, wind energy

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5 MLAs confined in resort: Vasundhara Raje's son faces row amid CM suspense

Centre permits export of 20 MT of non-basmati rice to earthquake-hit Nepal

Unparalleled dedication: PM's tribute to soldiers on Armed Forces Flag Day

Submit bids for green hydrogen, electrolyser mfg projects by Dec 12: Govt

Renewable energy capacity to reach 170 GW by March 2025: ICRA analyst

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