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IndiaTV Business: Google News Feed: Digest for June 09, 2023

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In times characterized by fiscal instability and erratic market conditions, savvy investors are always looking for ways to develop and safeguard their assets. In these circumstances, commercial property has emerged as a tempting investment opportunity, presenting distinct benefits and the possibility for long-term prosperity. In recent years, commercial ownership has emerged to be among the most profitable investment possibilities. The explanations for this upsurge are several, ranging from the possibility of high rental returns to rising demand for commercial space and the asset class's general stability. Commercial real estate has attracted the interest of investors searching for a lucrative outlet that's capable of withstanding economic swings due to its great returns, stability, and diversification benefits.
Stock markets: Benchmark indices Sensex and Nifty declined in early trade on Tuesday. The 30-share BSE Sensex declined 72.61 points to 62,714.86, while the NSE Nifty declined 12.15 points to 18,581.70. 
The largest crypto trading platform in the world, Binance.com, and its founder, Changpeng Zhao, have been charged by a US regulator with a variety of securities law violations. The US' Securities and Exchange Commission (SEC) in a statement on Monday said Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law.
India's Internet economy: A joint report by Google, Temasek and Bain & Company anticipated that India's Internet economy is expected to register six-fold growth and touch USD 1 trillion by 2030, mainly driven by the e-commerce vertical. The report, published on Tuesday, estimates that India's internet economy was in the range of USD 155-175 billion in 2022.
Jan Aushadhi Kendra: The central government has decided to allow 2,000 Primary Agricultural Credit Societies (PACS) to open 'Pradhan Mantri Bhartiya Jan Aushadhi Kendras' across the country.  The move by the Cooperation Ministry holds significance as medicines at these Kendras are available at a 50 to 90% lesser rate in comparison to the branded medicines. In a statement, the ministry said that around 1,000 Jan Aushadhi Kendras will be opened by August, the rest by December this year.
Stock markets: Benchmark equity indices climbed in early trade on Wednesday, tracking the rally in global markets and fresh foreign fund inflows. Rising for the fourth straight session, the 30-share BSE Sensex climbed 235.1 points to 63,027.98. The NSE Nifty advanced 77.05 points to 18,676.05.
Night life in Delhi: After promising to make Delhi the city of lakes, Chief Minister Arvind Kejriwal is now visioning giving the national capital nightlife. If things go as planned at least 155 shops and commercial establishments would be open round the clock in turn encouraging night trading activities in Delhi. The CM had earlier said the national capital will soon be known as the city of lakes as his government aims to rejuvenate several water bodies. 
The government today (June 7) hiked the minimum support price (MSP) of paddy by Rs 143 to Rs 2,183 per quintal for the 2023-24 crop year (July-June) in order to encourage farmers to bring more area under the crop and boost their income. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSP for all mandated Kharif (summer) crops for the 2023-24 crop year.
Union Civil Aviation Minister Jyotiraditya Scindia on Wednesday emphasised on rationality when it comes to air ticket prices saying we cannot have prices that are way beyond what should rationally be done.
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services, Telecom and IT Minister Ashwini Vaishnaw said.
Stock markets: Benchmark indices Sensex and Nifty declined in early trade on Tuesday. The 30-share BSE Sensex declined 72.61 points to 62,714.86, while the NSE Nifty declined 12.15 points to 18,581.70. 
The largest crypto trading platform in the world, Binance.com, and its founder, Changpeng Zhao, have been charged by a US regulator with a variety of securities law violations. The US' Securities and Exchange Commission (SEC) in a statement on Monday said Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law.
India's Internet economy: A joint report by Google, Temasek and Bain & Company anticipated that India's Internet economy is expected to register six-fold growth and touch USD 1 trillion by 2030, mainly driven by the e-commerce vertical. The report, published on Tuesday, estimates that India's internet economy was in the range of USD 155-175 billion in 2022.
Jan Aushadhi Kendra: The central government has decided to allow 2,000 Primary Agricultural Credit Societies (PACS) to open 'Pradhan Mantri Bhartiya Jan Aushadhi Kendras' across the country.  The move by the Cooperation Ministry holds significance as medicines at these Kendras are available at a 50 to 90% lesser rate in comparison to the branded medicines. In a statement, the ministry said that around 1,000 Jan Aushadhi Kendras will be opened by August, the rest by December this year.
Stock markets: Benchmark equity indices climbed in early trade on Wednesday, tracking the rally in global markets and fresh foreign fund inflows. Rising for the fourth straight session, the 30-share BSE Sensex climbed 235.1 points to 63,027.98. The NSE Nifty advanced 77.05 points to 18,676.05.
Night life in Delhi: After promising to make Delhi the city of lakes, Chief Minister Arvind Kejriwal is now visioning giving the national capital nightlife. If things go as planned at least 155 shops and commercial establishments would be open round the clock in turn encouraging night trading activities in Delhi. The CM had earlier said the national capital will soon be known as the city of lakes as his government aims to rejuvenate several water bodies. 
The government today (June 7) hiked the minimum support price (MSP) of paddy by Rs 143 to Rs 2,183 per quintal for the 2023-24 crop year (July-June) in order to encourage farmers to bring more area under the crop and boost their income. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSP for all mandated Kharif (summer) crops for the 2023-24 crop year.
Union Civil Aviation Minister Jyotiraditya Scindia on Wednesday emphasised on rationality when it comes to air ticket prices saying we cannot have prices that are way beyond what should rationally be done.
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services, Telecom and IT Minister Ashwini Vaishnaw said.
The Reserve Bank of India (RBI) announced its decision on key rates following the conclusion of its three-day Monetary Policy Committee (MPC) meeting.  RBI Governor Shaktikanta Das on Thursday said that MPC has decided to keep the policy repo rate unchanged at 6.5 per cent.
Jan Aushadhi Kendra: The central government has decided to allow 2,000 Primary Agricultural Credit Societies (PACS) to open 'Pradhan Mantri Bhartiya Jan Aushadhi Kendras' across the country.  The move by the Cooperation Ministry holds significance as medicines at these Kendras are available at a 50 to 90% lesser rate in comparison to the branded medicines. In a statement, the ministry said that around 1,000 Jan Aushadhi Kendras will be opened by August, the rest by December this year.
Stock markets: Benchmark equity indices climbed in early trade on Wednesday, tracking the rally in global markets and fresh foreign fund inflows. Rising for the fourth straight session, the 30-share BSE Sensex climbed 235.1 points to 63,027.98. The NSE Nifty advanced 77.05 points to 18,676.05.
Night life in Delhi: After promising to make Delhi the city of lakes, Chief Minister Arvind Kejriwal is now visioning giving the national capital nightlife. If things go as planned at least 155 shops and commercial establishments would be open round the clock in turn encouraging night trading activities in Delhi. The CM had earlier said the national capital will soon be known as the city of lakes as his government aims to rejuvenate several water bodies. 
The government today (June 7) hiked the minimum support price (MSP) of paddy by Rs 143 to Rs 2,183 per quintal for the 2023-24 crop year (July-June) in order to encourage farmers to bring more area under the crop and boost their income. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSP for all mandated Kharif (summer) crops for the 2023-24 crop year.
Union Civil Aviation Minister Jyotiraditya Scindia on Wednesday emphasised on rationality when it comes to air ticket prices saying we cannot have prices that are way beyond what should rationally be done.
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services, Telecom and IT Minister Ashwini Vaishnaw said.
Mumbai: The Reserve Bank of India (RBI) announced its decision on key rates following the conclusion of its three-day Monetary Policy Committee (MPC) meeting. RBI Governor Shaktikanta Das on Thursday said that MPC has decided to keep the policy repo rate unchanged at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Stock markets: Equity indices continued their rally in morning trade on Thursday after the Reserve Bank of India opted for a pause for the second time in a row, maintaining the key benchmark policy rate at 6.5 per cent as inflation moderates. Fresh foreign fund inflows in the domestic equity market also added to the optimism. 
Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" to resolve non-performing assets, Das said.
Ever since the Reserve Bank of India (RBI) announced to withdrawal Rs 2000 notes from circulation, the rumour mills have been working overtime with speculations surrounding Rs 500 notes. There also have been murmurs of the central bank planning to re-introduce Rs 1000 notes. 
Stock markets: Benchmark equity indices climbed in early trade on Wednesday, tracking the rally in global markets and fresh foreign fund inflows. Rising for the fourth straight session, the 30-share BSE Sensex climbed 235.1 points to 63,027.98. The NSE Nifty advanced 77.05 points to 18,676.05.
Night life in Delhi: After promising to make Delhi the city of lakes, Chief Minister Arvind Kejriwal is now visioning giving the national capital nightlife. If things go as planned at least 155 shops and commercial establishments would be open round the clock in turn encouraging night trading activities in Delhi. The CM had earlier said the national capital will soon be known as the city of lakes as his government aims to rejuvenate several water bodies. 
The government today (June 7) hiked the minimum support price (MSP) of paddy by Rs 143 to Rs 2,183 per quintal for the 2023-24 crop year (July-June) in order to encourage farmers to bring more area under the crop and boost their income. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the increase in MSP for all mandated Kharif (summer) crops for the 2023-24 crop year.
Union Civil Aviation Minister Jyotiraditya Scindia on Wednesday emphasised on rationality when it comes to air ticket prices saying we cannot have prices that are way beyond what should rationally be done.
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services, Telecom and IT Minister Ashwini Vaishnaw said.
Mumbai: The Reserve Bank of India (RBI) announced its decision on key rates following the conclusion of its three-day Monetary Policy Committee (MPC) meeting. RBI Governor Shaktikanta Das on Thursday said that MPC has decided to keep the policy repo rate unchanged at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Stock markets: Equity indices continued their rally in morning trade on Thursday after the Reserve Bank of India opted for a pause for the second time in a row, maintaining the key benchmark policy rate at 6.5 per cent as inflation moderates. Fresh foreign fund inflows in the domestic equity market also added to the optimism. 
Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" to resolve non-performing assets, Das said.
Ever since the Reserve Bank of India (RBI) announced to withdrawal Rs 2000 notes from circulation, the rumour mills have been working overtime with speculations surrounding Rs 500 notes. There also have been murmurs of the central bank planning to re-introduce Rs 1000 notes. 
New Delhi: Mahindra & Mahindra on Thursday said it has entered the dual-fuel segment in the small commercial vehicle space with the launch of Supro CNG Duo priced at Rs 6.32 lakh (ex-showroom Delhi). The model can run on both CNG and petrol. It comes with a payload capacity of 750 kg and a range of 325 km with a CNG tank capacity of 75 litres. It also comes with a five-litre petrol tank to take care of range anxiety issues.
Union Civil Aviation Minister Jyotiraditya Scindia on Wednesday emphasised on rationality when it comes to air ticket prices saying we cannot have prices that are way beyond what should rationally be done.
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services, Telecom and IT Minister Ashwini Vaishnaw said.
Mumbai: The Reserve Bank of India (RBI) announced its decision on key rates following the conclusion of its three-day Monetary Policy Committee (MPC) meeting. RBI Governor Shaktikanta Das on Thursday said that MPC has decided to keep the policy repo rate unchanged at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Stock markets: Equity indices continued their rally in morning trade on Thursday after the Reserve Bank of India opted for a pause for the second time in a row, maintaining the key benchmark policy rate at 6.5 per cent as inflation moderates. Fresh foreign fund inflows in the domestic equity market also added to the optimism. 
Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" to resolve non-performing assets, Das said.
Ever since the Reserve Bank of India (RBI) announced to withdrawal Rs 2000 notes from circulation, the rumour mills have been working overtime with speculations surrounding Rs 500 notes. There also have been murmurs of the central bank planning to re-introduce Rs 1000 notes. 
New Delhi: Mahindra & Mahindra on Thursday said it has entered the dual-fuel segment in the small commercial vehicle space with the launch of Supro CNG Duo priced at Rs 6.32 lakh (ex-showroom Delhi). The model can run on both CNG and petrol. It comes with a payload capacity of 750 kg and a range of 325 km with a CNG tank capacity of 75 litres. It also comes with a five-litre petrol tank to take care of range anxiety issues.
RBI on inflation: The Reserve Bank of India (RBI) has lowered India's inflation projection for 2023-24 to 5.1 per cent against its April estimate of 5.2 per cent.On a quarterly basis, retail inflation (or Consumer Price Index) in Q1 is seen at 4.6 per cent, Q2 at 5.2 per cent, Q3 at 5.4 per cent, and Q4 at 5.2 per cent, RBI Governor Shaktikanta Das said Thursday while reading out the monetary policy statement after a three-day deliberation.
Mother Dairy, which is a leading milk supplier in Delhi-NCR, today (June 8) said it has reduced the maximum retail price (MRP) of edible oils sold under Dhara brand by Rs 10 per litre and the stocks with new rates will be available in the market from next week. The reduction in the MRP is in line with a fall in prices of edible oils in the global market, the company said.
Margins on petrol and diesel have turned positive following softening of international oil prices but a revision in retail prices may happen only after state-owned oil firms recoup losses they incurred last year, officials said. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have temporarily abandoned the daily price revision since last year and have not revised petrol and diesel prices in line with the cost. And the losses they incurred when the oil prices were higher than the retail selling prices are now being recouped with rates dropping.
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services, Telecom and IT Minister Ashwini Vaishnaw said.
Mumbai: The Reserve Bank of India (RBI) announced its decision on key rates following the conclusion of its three-day Monetary Policy Committee (MPC) meeting. RBI Governor Shaktikanta Das on Thursday said that MPC has decided to keep the policy repo rate unchanged at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Stock markets: Equity indices continued their rally in morning trade on Thursday after the Reserve Bank of India opted for a pause for the second time in a row, maintaining the key benchmark policy rate at 6.5 per cent as inflation moderates. Fresh foreign fund inflows in the domestic equity market also added to the optimism. 
Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" to resolve non-performing assets, Das said.
Ever since the Reserve Bank of India (RBI) announced to withdrawal Rs 2000 notes from circulation, the rumour mills have been working overtime with speculations surrounding Rs 500 notes. There also have been murmurs of the central bank planning to re-introduce Rs 1000 notes. 
New Delhi: Mahindra & Mahindra on Thursday said it has entered the dual-fuel segment in the small commercial vehicle space with the launch of Supro CNG Duo priced at Rs 6.32 lakh (ex-showroom Delhi). The model can run on both CNG and petrol. It comes with a payload capacity of 750 kg and a range of 325 km with a CNG tank capacity of 75 litres. It also comes with a five-litre petrol tank to take care of range anxiety issues.
RBI on inflation: The Reserve Bank of India (RBI) has lowered India's inflation projection for 2023-24 to 5.1 per cent against its April estimate of 5.2 per cent.On a quarterly basis, retail inflation (or Consumer Price Index) in Q1 is seen at 4.6 per cent, Q2 at 5.2 per cent, Q3 at 5.4 per cent, and Q4 at 5.2 per cent, RBI Governor Shaktikanta Das said Thursday while reading out the monetary policy statement after a three-day deliberation.
Mother Dairy, which is a leading milk supplier in Delhi-NCR, today (June 8) said it has reduced the maximum retail price (MRP) of edible oils sold under Dhara brand by Rs 10 per litre and the stocks with new rates will be available in the market from next week. The reduction in the MRP is in line with a fall in prices of edible oils in the global market, the company said.
Margins on petrol and diesel have turned positive following softening of international oil prices but a revision in retail prices may happen only after state-owned oil firms recoup losses they incurred last year, officials said. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have temporarily abandoned the daily price revision since last year and have not revised petrol and diesel prices in line with the cost. And the losses they incurred when the oil prices were higher than the retail selling prices are now being recouped with rates dropping.
HMA Agro Industries IPO is all set to hit the primary market. The subscription will begin on June 20 and conclude on June 23. The issue will open for anchor investor subscription a day before the retail. The company plans to raise Rs 480 crore from the issue.
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services, Telecom and IT Minister Ashwini Vaishnaw said.
Mumbai: The Reserve Bank of India (RBI) announced its decision on key rates following the conclusion of its three-day Monetary Policy Committee (MPC) meeting. RBI Governor Shaktikanta Das on Thursday said that MPC has decided to keep the policy repo rate unchanged at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Stock markets: Equity indices continued their rally in morning trade on Thursday after the Reserve Bank of India opted for a pause for the second time in a row, maintaining the key benchmark policy rate at 6.5 per cent as inflation moderates. Fresh foreign fund inflows in the domestic equity market also added to the optimism. 
Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" to resolve non-performing assets, Das said.
Ever since the Reserve Bank of India (RBI) announced to withdrawal Rs 2000 notes from circulation, the rumour mills have been working overtime with speculations surrounding Rs 500 notes. There also have been murmurs of the central bank planning to re-introduce Rs 1000 notes. 
New Delhi: Mahindra & Mahindra on Thursday said it has entered the dual-fuel segment in the small commercial vehicle space with the launch of Supro CNG Duo priced at Rs 6.32 lakh (ex-showroom Delhi). The model can run on both CNG and petrol. It comes with a payload capacity of 750 kg and a range of 325 km with a CNG tank capacity of 75 litres. It also comes with a five-litre petrol tank to take care of range anxiety issues.
RBI on inflation: The Reserve Bank of India (RBI) has lowered India's inflation projection for 2023-24 to 5.1 per cent against its April estimate of 5.2 per cent.On a quarterly basis, retail inflation (or Consumer Price Index) in Q1 is seen at 4.6 per cent, Q2 at 5.2 per cent, Q3 at 5.4 per cent, and Q4 at 5.2 per cent, RBI Governor Shaktikanta Das said Thursday while reading out the monetary policy statement after a three-day deliberation.
Mother Dairy, which is a leading milk supplier in Delhi-NCR, today (June 8) said it has reduced the maximum retail price (MRP) of edible oils sold under Dhara brand by Rs 10 per litre and the stocks with new rates will be available in the market from next week. The reduction in the MRP is in line with a fall in prices of edible oils in the global market, the company said.
Margins on petrol and diesel have turned positive following softening of international oil prices but a revision in retail prices may happen only after state-owned oil firms recoup losses they incurred last year, officials said. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have temporarily abandoned the daily price revision since last year and have not revised petrol and diesel prices in line with the cost. And the losses they incurred when the oil prices were higher than the retail selling prices are now being recouped with rates dropping.
HMA Agro Industries IPO is all set to hit the primary market. The subscription will begin on June 20 and conclude on June 23. The issue will open for anchor investor subscription a day before the retail. The company plans to raise Rs 480 crore from the issue.
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