economy

Union Minister of State for Corporate Affairs Harsh Malhotra criticised the underutilisation of Corporate Social Responsibility (CSR) funds, noting that many of these funds, intended for societal benefit, are redirected to other government sources.

Goldman Sachs has downgraded its outlook for the State Bank of India (SBI), reducing its earnings estimates for FY25 and FY26 by 3% and 9%, respectively.

The Goods and Services Tax (GST) Council may consider imposing 18% GST on payment aggregators (PAs) for small digital transactions up to Rs 2,000, via debit and credit cards, according to a report by CNBC-TV18.

The RBI is expected to maintain its policy rate until late FY25, diverging from global central banks that are moving towards rate cuts, while India's growth remains steady at 7% for FY25 amid easing global inflation and shifting economic conditions.

The DoP has asked medical devices companies to upload the Uniform Code for Marketing Practices in Medical Devices (UCMPMD) 2024 on their website along with the detailed procedure for lodging of complaints with a link to the UCMPMD portal of the department.

The facility will be established in Odisha with an investment of Rs 620 crore. RIR Power Electronics Limited, a leader in India's semiconductor power electronics technology, will develop the project at EMC Park, Infovalley, Bhubaneswar. 

The Maharashtra government has approved four high-tech mega projects with a combined investment of Rs 1.17 lakh crore, expected to create 29,000 jobs and advance sectors like semiconductors and electric vehicle manufacturing across Marathwada, Vidarbha, Pune, and Panvel.

The Global Trade Research Initiative (GTRI) advises the Indian government to let the domestic electric vehicle sector develop organically without heavy incentives to prevent dependency on Chinese imports and avoid becoming an 'EV colony,' while focusing on advanced battery technology and clean energy.

India's foreign exchange reserves increased by $2.3 billion to a new record of $683.99 billion for the week ending August 30, according to the Reserve Bank of India (RBI). This follows a previous rise of $7.02 billion to $681.69 billion the week before.

Cash-strapped domestic carrier Spicejet plans to raise over Rs 3,200 crore through various debt and equity instruments and capital infusion by the promoter, the airline said in a corporate presentation.

Swiggy stated that the Incognito Mode is also ideal for discreet purchases, such as personal wellness products on Swiggy Instamart, as this feature ensures that such orders remain private, giving users confidence that their choices will not be visible to others.

Indian benchmark indices BSE Sensex and Nifty 50 fell on Friday, with the Sensex dropping 1,074 points to 81,126.78 (1.31%) and the Nifty 50 declining 341 points to 24,803.95 (1.36%).