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IndiaTV Business: Google News Feed: Digest for June 10, 2023

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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.
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.
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.
No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October.
Foreign institutional investors are on a buying spree in India. The Fast-Moving Consumer Goods (FMCG) sector has emerged as a favourite space for FIIs. In the latest round of foreign inflow in the economy, Nomura Singapore has once again raised its stake in Mishtann Foods.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
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.
No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October.
Foreign institutional investors are on a buying spree in India. The Fast-Moving Consumer Goods (FMCG) sector has emerged as a favourite space for FIIs. In the latest round of foreign inflow in the economy, Nomura Singapore has once again raised its stake in Mishtann Foods.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
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.
No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October.
Foreign institutional investors are on a buying spree in India. The Fast-Moving Consumer Goods (FMCG) sector has emerged as a favourite space for FIIs. In the latest round of foreign inflow in the economy, Nomura Singapore has once again raised its stake in Mishtann Foods.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
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.
No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October.
Foreign institutional investors are on a buying spree in India. The Fast-Moving Consumer Goods (FMCG) sector has emerged as a favourite space for FIIs. In the latest round of foreign inflow in the economy, Nomura Singapore has once again raised its stake in Mishtann Foods.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
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.
No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October.
Foreign institutional investors are on a buying spree in India. The Fast-Moving Consumer Goods (FMCG) sector has emerged as a favourite space for FIIs. In the latest round of foreign inflow in the economy, Nomura Singapore has once again raised its stake in Mishtann Foods.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
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