RBI tightens rules for digital lending
The Reserve Bank of India on Wednesday issued guidelines for digital lending platforms to ensure orderly growth and protect borrowers following complaints that lending apps were charging usurious interest rates, pursuing aggressive recovery practices, and committing fraud and breach of data privacy. Read More Here.
Inflation seen at 6.78% in July
Retail inflation in India likely eased in July as food and commodity prices cooled but remained above the 6% upper limit of the central bank’s tolerance range for the seventh consecutive month, a Mint survey of 28 economists projected. Read More Here.
JSW Energy arm to buy Mytrah’s 1.75GW assets for ₹10,530 cr
JSW Energy Ltd on Wednesday said unit JSW Neo Energy has agreed to acquire solar and wind power assets totalling 1,753 megawatts (MW) from Mytrah Energy (India) Pvt. Ltd. The deal, struck at an enterprise value of approximately ₹10,530 crore, is JSW Energy’s biggest acquisition yet. Read More Here.
Neuberg Diagnostics aims IPO by end of FY23
Healthcare veteran G.S.K. Velu’s diagnostic chain Neuberg Diagnostics plans to spend as much as ₹500 crore to expand its network in India. The diagnostic chain is also looking to expand its overseas presence. In an interview, Velu, chairman and managing director of Neuberg Diagnostics, said that the company would look at an initial share sale by the end of June. Read More Here.
New fraud allegations against Srei
More trouble is brewing for Kolkata-based Srei Group, with the Reserve Bank of India-appointed administrator reporting instances of fresh fraudulent transactions. Two people aware of the matter said more skeletons are likely to tumble out of the cupboard. Read More Here.
What’s cheering up Airtel investors
After the recently concluded auctions, telecom investors will be keen to hear from companies about future prospects of 5G. For Bharti Airtel Ltd investors, the good news is that a spike in capital expenditure (capex) is unlikely. Read More Here.
Airfare caps to go from August end as sector revives
The civil aviation ministry on Wednesday removed price bands on airfares with effect from 31 August, freeing airlines from the specified minimum and maximum fares set more than two years ago as the sector recovers. Read More Here.
Disney beats Netflix on streaming subscribers, announces higher prices
Media giant Walt Disney edged past popular over the top (OTT) platform Netflix with a total of 221 million streaming customers, announcing that it will raise prices for customers who seek to watch Disney+ or Hulu without commercials. Read More Here.
Elon Musk sells $6.9 bn Tesla stock to cavert Twitter fire sale
Elon Musk offloaded $6.9 billion worth of stock in Tesla Inc to accumulate cash ahead of a trial that could force the billionaire to follow through on an agreement to acquire Twitter Inc. Read More Here.
Corbevax can be used as booster for Covishield, Covaxin
In a first, Biological E’s covid-19 vaccine–Corbevax will now be available as precaution/booster dose for all adult individuals who are fully vaccinated either with Covishield or Covaxin, the union health ministry said on Wednesday allowing Corbevax has a heterologous covid-19 vaccine for booster dose. Read More Here.
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