India Energy Storage Week (IESW) 2025, scheduled for July 8-10 in New Delhi, anticipates over Rs 8,000 crore in investments across energy storage, electric mobility, and green hydrogen. Organized by IESA, the event expects participation from international delegates and aims to foster business deals and collaborations. This will accelerate India's clean energy manufacturing ambitions, supported by state and central ministries.
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T Rabi Sankar, RBI Deputy Governor, has been appointed as a part-time member of the 16th Finance Commission, replacing Ajay Narayan Jha. Sankar's term will last until the Commission submits its report or October 31, 2025. The Commission, chaired by Arvind Panagariya, is responsible for recommending the distribution of tax revenues between the Union and the States.
Yes Bank shares plunged 7.4% to Rs 21.55 following reports of a 3% equity stake changing hands via block deals, potentially involving a PE investor.
The OECD has downgraded its global economic growth predictions due to the escalating trade war spurred by US tariffs. The revised forecast indicates a slowdown to 2.9% for both 2025 and 2026, impacting the US significantly with reduced growth projections and rising inflation. The organization urges countries to seek agreements to avoid further trade fragmentation.
Bank of Baroda has reduced its repo-linked lending rate by 50 basis points to 8.15%, effective June 7, following the Reserve Bank of India's policy rate cut. This move aims to make loans more affordable for homes, cars, and businesses, potentially boosting credit demand. The rate cut aligns with the bank's commitment to support customers with affordable credit.
Aadhaar cardholders can update their identity and address documents online for free until June 14, 2025, as announced by UIDAI. After this date, updates will require a visit to an Aadhaar Enrolment Centre with a fee of Rs 50. Updating PoI and PoA documents every 10 years ensures accurate records and avoids potential service disruptions.
Suresh Narayanan, retiring CMD of Nestle India, reflected on the 2015 Maggi crisis as a major career challenge. He successfully revitalized Maggi after a nationwide ban due to safety concerns. Under his leadership, Nestle India saw significant growth, expanding its product portfolio and increasing capital expenditure, demonstrating a commitment to manufacturing in India.
Starting July 2025, the GSTN will make the GSTR-3B form non-editable to enhance consistency and reduce revenue leakages. Taxpayers must use GSTR-1A to amend outward supplies before filing GSTR-3B. This shift requires businesses to ensure real-time reconciliation and error correction, placing greater responsibility on internal controls.
The Central Consumer Protection Authority (CCPA) has mandated e-commerce platforms in India to conduct self-audits within three months to detect and eliminate deceptive "dark patterns." This initiative aims to protect consumers from manipulative interface designs that lead to unintended actions. Platforms are also encouraged to submit self-declarations confirming compliance with anti-dark-pattern norms to foster transparency and build consumer trust.
Sebi has approved IPOs for six companies, including HDB Financial Services and Vikram Solar. HDB Financial Services plans to raise funds through a fresh issue and offer-for-sale, while Vikram Solar's IPO includes a fresh issue and an offer-for-sale by promoters. The funds raised will support business growth and capital requirements, with shares to be listed on BSE and NSE.
Central Depository Services Limited (CDSL) shares are recovering remarkably. The stock rose 60.4% from its March low. It reached a high of Rs 1,680 on Monday.