RBI Introduces New ARC Guidelines Effective April 24, 2024

The Reserve Bank of India (RBI) has ushered in a new era for Asset Reconstruction Companies (ARCs) in India. Effective April 24, 2024, a comprehensive set of guidelines aims to strengthen the regulatory oversight of ARCs, enhance their financial stability, and ultimately, improve their effectiveness in tackling the challenge of non-performing assets (NPAs) in the […]

SBI, Standard Chartered Embrace New RBI Norms in CDS Trade

The Indian financial sector witnessed a watershed moment on April 4th, 2024, as the country’s leading lender, State Bank of India (SBI), joined forces with Standard Chartered Bank India to execute the first-ever Credit Default Swap (CDS) trade valued at ₹25 crore. This pioneering transaction serves as a tangible outcome of the Reserve Bank of […]

RBI’s Industry Survey: Manufacturing Companies

The Reserve Bank of India (RBI) launched the 65th round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS) on April 9, 2024. Initiated in 2008, this critical quarterly survey serves as a vital tool for the RBI to gauge the health of the manufacturing sector and shape its monetary policy decisions. Data for […]

Yellow Peas: Duty-Free Import Extended Till June

In a move to address rising pulse prices, the Indian government has extended its relaxation on import duty for yellow peas by two months. The new deadline for duty-free imports is June 30, 2024, providing much-needed relief for Indian consumers struggling with affordability. Yellow peas, considered a close substitute for chana, are expected to play […]

FSSAI Directs: Avoid ‘Health’/’Energy’ Label on Malts

The Food Safety and Standards Authority of India (FSSAI) is taking a strong stance against misleading labeling practices on e-commerce platforms. In a recent directive, the regulatory body has instructed all online retailers to stop using the terms “health drink” or “energy drink” for products categorized as malt-based beverages. This move aims to ensure transparency […]

Exporters Advocate 45-Day Rule Exemption for MSEs

Indian exporters are facing a perfect storm. A recent regulation aimed at aiding domestic businesses is instead creating a cash crunch that threatens their ability to compete on the global stage. The culprit? Section 43B(h) of the Income Tax Act 2023, which mandates a strict 45-day payment window for goods and services procured from Micro, […]

MGNREGS : 4-10% Raise in Rural Job Scheme Wages

In a move that will bring much-needed relief to millions of rural households grappling with rising inflation, the central government announced a revision to MGNREGS wages, effective March 27, 2024. This revision promises a significant boost to livelihoods, with wage hikes ranging from 4% to 10% depending on the state. State-wise Disparity: A Cause for […]

Varun Beverages Completes BevCo Acquisition in South Africa

Varun Beverages Ltd., the leading franchise bottler for PepsiCo, marked a significant milestone on March 27, 2024, by successfully finalizing the acquisition of The Beverage Company (BevCo) in South Africa. This strategic move strengthens Varun Beverages’ position as a major player in the African beverage market. Acquisition Details and Regulatory Clearances The acquisition encompasses BevCo’s […]

Centre Implements Weekly Wheat Stock Reporting Rule

India, the world’s second-largest wheat consumer after China, is facing a critical situation due to consecutive heatwaves that have slashed domestic wheat production by an estimated 10% in 2023 and 8% in 2022. This decline has resulted in a significant drop in government-held wheat reserves. As of early March 2024, these reserves stood at a […]

Insurance Sector Sees Rs 54,000 Cr FDI Surge in 9 Years

The Indian insurance sector has transformed into a powerhouse, driven by a tidal wave of foreign direct investment (FDI). Over the past nine years (December 2014 – January 2024), the sector has garnered a staggering Rs 54,000 crore in FDI, according to Financial Services Secretary Vivek Joshi. This impressive investment surge coincides with a remarkable […]