CBDCs could 'kill' case for private cryptocurrencies, says RBI Dy Governor
Central Bank Digital Currencies (CBDC) could 'kill' the reasons for the existence of private cryptocurrencies, Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar has said. In his speech, Rabi Sankar reiterated the RBI's view that private currencies should not be permitted "just because they are backed by hi-tech.
Tomato prices are surging in India, putting politicians on notice as vegetables have an unusual history of toppling governments in the country. Tomatoes, potatoes and onions form the holy trinity of Indian cooking, where they’re often mixed with spices to form the base for curries, such as chicken tikka masala.
Exclusive | After wheat, govt pushing rice exports as bumper harvests swell supply
Even as it sorts out pending requests for wheat from more than a dozen countries in the aftermath of a wheat export ban, the government has begun to promote exports of Indian rice, people with knowledge of the development said. The government has deployed diplomats posted at Indian embassies abroad to push rice exports. Talks are underway with some countries for substituting wheat exports, banned in May, with rice.
Market gains on weekly expiry day
Though global cues were not encouraging earlier in the day with the US markets ending with losses on June 1 and Asian peers sliding in the morning on recession fears amid rising inflation, the Indian indices gained confidence from the fall in energy prices as crude dropped from $120 a barrel to $113. Gains in information technology and metal stocks supporting the benchmark indices.
47% of IBC cases ended in liquidation till FY22, shows IBBI data
Distressed companies liquidated under the bankruptcy code have far outnumbered those rescued as of March end, according to the latest data released by the Insolvency and Bankruptcy Board of India (IBBI). Beginning December 2016 till March 2022, 47 percent of corporate insolvency processes went into liquidation, compared with 14 percent that ended in a resolution plan, according to the data.
For third straight month, businesses stick to 6%-plus inflation expectation for next year
For the third straight month in April, Indian businesses anticipated the inflation to be above 6 percent a year ahead, according to a survey by the Indian Institute of Management-Ahmedabad (IIM-A).
MG Motor, Castrol to join hands with Jio-bp to boost electric mobility in India
MG Motor India and Castrol India are set to collaborate with Jio-bp to explore mobility solutions for electric cars, the automaker said in a statement on June 2. Jio-bp, MG Motor and Castrol will explore setting up four-wheeler EV charging infrastructure and expand Castrol’s existing auto service network to cater to EV customers.