Credit card spending by Indians rose 25.35 per cent to a new high of Rs 1.78 trillion in October from Rs 1.42 trillion in September 2023, supported by growth in point of sale (POS) transactions and e-commerce payments in the festive season.
PoS transactions increased to Rs 57,774.35 crore and e-commerce payments to Rs 120,794.40 crore in October.
In a bid to increase the electricity production in the state, the Uttar Pradesh government will invest more than Rs 18,000 crore in a coal-fired thermal power plant in Sonbhadra district. The proposed thermal power unit ‘Anpara E’ will be set up by Meja Utpadan Nigam Private Limited, a joint venture of NTPC and UP Rajya Vidyut Utpadan Nigam Limited (UPRVUNL).
This comes amid the reports that the Government of India is looking at facilitating easier funding for new coal-fired thermal power plants in the wake of a sharp jump in electricity demand.
Bahujan Samaj Party (BSP) Supremo Mayawati said that Telangana Chief Minister K Chandrashekhar Rao was not concerned about the welfare of the Dalit community and considered it his vote bank, a Deccan Chronicle (DC) report said. She also accused him of politically suppressing the community.
She was speaking at an election rally in support of the BSP candidate, Dasari Usha from Peddapalli.
The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) are strategically targeting offline and feature phone-based payments, along with purpose-defined transactions, to propel the adoption of the central bank-backed digital currency (CBDC), according to a report by The Economic Times (ET).
The shared vision of both the RBI and NPCI is to streamline CBDC usage, making digital payments as straightforward as traditional cash transactions.
Telangana Chief Minister and Bharat Rashtra Samithi Supremo K Chandrashekhar Rao (KCR) warned people against voting for the Congress on November 30. KCR talked about the state of affairs in Karnataka and said that Congress won the elections six months back and is still struggling to provide electricity for five hours, a Deccan Chronicle (DC) report said. He cautioned that if Congress is elected in Telangana, the party will push the state back into darkness.
CM KCR addressed election rallies in Maheshwaram, Vikarabad, Zaheerabad, and Patancheru on Thursday.
India plans to ask state-run Oil and Natural Gas Corp to consider launching a rights issue to help fund green projects at refining arm Hindustan Petroleum Corp, two sources said, an exercise that could raise about $1.9 billion.
The comments come after India's finance minister announced a plan this year to provide equity of 300 billion rupees ($3.6 billion) to help the big state oil refiners move towards cleaner energy.
Shares of state-owned insurance companies were in demand and rallied up to 11 per cent on the BSE in Friday’s otherwise subdued market.
The share price of New India Assurance Company (New India) (up 11 per cent at Rs 194.55) and General Insurance Corporation of India (GIC Re) (up 8 per cent at Rs 287.05) hit their respective 52-week highs.
Tesla is eyeing an investment of up to $2 billion to set up its factory in India if it gets a 15 per cent concessional duty on imported vehicles in its first two years here, The Economic Times (ET) reported on Friday.
The US-based carmaker has provided the Centre with a proposal for the investment, the report added. If it gets a concessional duty for 12,000 vehicles, it may invest $500 million in India. This may go up to $2 billion if the concession extends to 30,000 vehicles.
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