The Indian wedding industry, renowned for its grand celebrations and vibrant festivities, continues to experience robust growth. As the world’s second-largest wedding market, India hosts ~10 million weddings annually, translating into a staggering $130 billion in annual expenditure. India’s peak wedding season, which typically occurs between late November and mid-December, further uplifts the industry. …
Indian Railways continues to demonstrate its pivotal role in the nation’s economy, achieving remarkable freight loading statistics for August 2024. The Railway Board announced that a total of 126.97 million tonnes (MT) of freight was loaded in August alone, contributing to a cumulative total of 653.22 MT for the financial year 2024-25. This impressive performance …
The World Bank increased its growth forecast for India to 7% for the current financial year, up from the previous estimate of 6.6%. This upgrade is attributed to increased government spending on infrastructure. According to the World Bank’s India Development Update report, the growth was driven by investments in public infrastructure and a rise in …
The Indian government has implemented a significant policy change, permitting sugar mills to utilise a wider range of sugar derivatives for ethanol production. This shift announced in a notification on August 29, 2024, is designed to bolster ethanol output and reduce reliance on fossil fuels. Effective November 1, 2024, sugar mills will be allowed to …
The Reserve Bank of India (RBI) has taken a significant step to encourage wider foreign participation in India’s sovereign green bonds (SGrBs). The central bank has introduced a new scheme that allows foreign investors in the International Financial Services Centre (IFSC) to invest directly in these environmentally-friendly securities. SGrBs, issued by the Indian government, are …
The Reserve Bank of India (RBI) has announced the launch of a new Unified Lending Interface (ULI) on the same public digital infrastructure that supports the innovative UPI services. This platform enables a seamless and consent-based flow of digital information from multiple data service providers to lenders, aiming to reduce the turnaround time for assessing …
On August 28, 2024, the Union Cabinet approved a significant equity support of ₹4,136 crore to the North Eastern states to develop hydropower projects. This initiative aims to boost the region’s renewable energy capacity by adding a total of 15,000 MW over the next 8 years. The cabinet gave its green light to a power …
India’s market regulator, SEBI (Securities and Exchange Board of India), has raised concerns about suspicious practices in the SME (small and medium enterprises) market. They have warned investors that some SMEs are making unrealistic claims about their performance after going public. SEBI observed that these companies or their promoters often make overly optimistic announcements about …
On August 26, 2024, Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the Unified Lending Interface (ULI), a new technology platform currently in its pilot stage, is set to revolutionise credit delivery to farmers and MSME borrowers by enabling frictionless access to banking services. Speaking at a global conference on digital public infrastructure …
India’s banking sector is experiencing strong profitability and improved asset quality, but slow deposit growth has become a significant issue in recent times. With bank credit growth outstripping deposit growth, banks will need to explore innovative strategies to attract more deposits. Current State of Bank Deposits Bank credit is growing at over 14%, surpassing deposit …
