Nissan and Honda are exploring a potential collaboration to enhance competitiveness. Indian and global automakers and two-wheeler manufacturers are increasingly forming alliances to improve efficiencies, reduce costs, and gain access to advanced technologies.
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Bank loans continue to show no stress at the macro level, remaining well below the long-term trend as a percentage of GDP. By Dec 2024, the growth in overall bank credit slowed to 7.7% due to higher lending rates and increased capital requirements. Asset quality has improved with the GNPA ratio dropping to a 12-year low of 2.6%.
Vembu would take up a new role as the chief scientist, he said in a X post on Monday.
Havells India Ltd reported a 3.45% decline in consolidated net profit for the December 2024 quarter, amounting to Rs 277.96 crore. Despite this, revenue from operations increased by 10.76% to Rs 4,888.98 crore. Total expenses also rose by 12.18%. The company remains optimistic about better demand and margins in upcoming quarters, announcing a 400% interim dividend.
India is poised to become a global economic powerhouse, with reforms such as GST and infrastructure growth driving its rise to the world's fifth-largest economy. ITC Chairman Sanjiv Puri expressed confidence that India could be a developed nation by 2047, with its strategic focus on energy transition and digital transformation.
Budget 2025 expectations: FICCI advises Finance Minister Nirmala Sitharaman to maintain emphasis on investments and implement next-gen reforms in Union Budget 2025. Key recommendations include boosting capex by 15% and establishing inter-state platforms for reforms in land, labor, and power sectors.
Tata stakeholders are considering appointing a retired Supreme Court chief justice as arbitrator to determine trustee appointments for the Ratan Tata Endowment Foundation.
SBI and HDFC Bank have started 2024 by enhancing deposit rates. SBI offers super senior citizens new benefits while HDFC has revised bulk deposit rates. SBI also introduces goal-oriented products like 'Har Ghar Lakhpati' to assist customers in achieving savings targets, with both banks setting higher competitive rates.
Economic Survey highlights the positive impact of linking financially less privileged rural women to self help groups, welfare schemes, and direct benefit transfers. These initiatives have reduced inequality, increased consumption spending, and improved quality of life for rural households, as revealed by a survey conducted in Bihar, Jharkhand, Madhya Pradesh, and Uttar Pradesh.
The Employees Provident Fund Organisation (EPFO) has raised the auto-settlement of advance claims limit to Rs 5 lakh from Rs 1 lakh, enhancing ease of living for 7.5 crore members. The move, approved during the 113th CBT meeting, will streamline claim settlements. Additionally, EPFO will enable UPI and ATM withdrawals for Provident Fund access by June 2025.
IndusInd Bank faces a significant financial impact as it addresses discrepancies in its foreign exchange derivative portfolio, leading to overstated net interest income. The bank's credibility is questioned, prompting swift action to rectify financials and appoint a new successor to restore investor confidence.