FSSAI has instructed Patanjali Foods to recall a batch of red chilli powder for regulatory non-compliance regarding contaminants and toxins. Despite this, Patanjali Foods reported a 21% rise in net profit for the September quarter and is planning to establish an oil palm mill in Mizoram.
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Bajaj Auto plans to enter the domestic e-rickshaw market by the end of this fiscal, anticipating a significant opportunity in the 45,000 units-per-month segment. The company aims to launch a modern e-rickshaw, enhancing satisfaction for owners and passengers. Additionally, Bajaj Auto seeks to boost its electric scooter market share with its newly introduced '35 platform'.
Budget 2025 expectations: Gold traders, including jewellers and bullion sellers, hope Finance Minister Nirmala Sitharaman will enable middle-class purchases of gold via EMI and fund artisan upskilling in the Union Budget 2025.
Sivasubramanian Ramann has been appointed as the new chairman of the Pension Fund Regulatory & Development Authority of India (PFRDA). He will succeed Deepak Mohanty, who completes his term in May 2025. Ramann's appointment comes as the government focuses on enhancing pension schemes, particularly for the unorganised sector.
Shaktikanta Das, concluding his six-year term as India's central bank governor, navigated the RBI through a pandemic and digitization, defying initial skepticism. Despite lacking formal economic training, he prioritized financial stability, built up forex reserves, and fostered a modern digital payments system. His successor, Sanjay Malhotra, inherits a strong foundation but faces global market uncertainties.
China's foreign minister Wang Yi criticizes the US for imposing arbitrary tariffs despite China's efforts to curb fentanyl exports. He warns that such actions disrupt global stability and mutual trust. Wang emphasizes China's strong ties with Russia and calls for greater representation of developing nations in global governance, highlighting China's role as a stabilizing force.
US President Donald Trump has announced sweeping new tariffs on all imports, starting with a universal 10% baseline and steeper rates of up to 50% for certain countries. The move, aimed at reducing trade deficits and boosting domestic industry, targets major trade partners including China, India, Japan, and the EU, and is expected to have significant economic implications.
Dr Krishna Ella, co-founder of Bharat Biotech, has been awarded the prestigious INSA India fellowship for 2025 for his significant contributions to vaccine technology and biotechnology. His work led to the development of India’s first indigenous Covid-19 vaccine, Covaxin. Bharat Biotech, established in 1996, has delivered over nine billion vaccine doses worldwide.
Telecom regulator Trai has introduced new rules to combat pesky calls and messages, imposing financial disincentives ranging from Rs 2 lakh to Rs 10 lakh for repeated violations. The amendments require telecom operators to monitor call and SMS patterns to identify potential spammers in real-time and empower subscribers with extended time to report spam activities.
NBCC Ltd, a state-owned construction firm, aims to increase its order book to Rs 1 lakh crore by March 2024 from the current Rs 84,400 crore. The company's portfolio includes PMC, EPC, and real estate projects, with a significant portion coming from redevelopment initiatives.
The Centre has introduced the Unified Pension Scheme (UPS) for central government employees with assured payouts and inflation adjustments for those with over 25 years of service. Employees currently under the National Pension System (NPS) have a one-time option to switch to UPS, which starts in April.