RBI Bond Auction Oversubscribed
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🗞️ HCL-Foxconn unit to boost electronics manufacturing
The upcoming semiconductor facility in Jewar, led by HCL and Foxconn, is expected to have a multiplier effect on the local electronics industry. The unit will not only increase domestic chip capacity but also generate thousands of jobs, said Union Minister Ashwini Vaishnaw.
💬 Expert Take: “It’s not just a fab, it’s a catalyst for India’s component ecosystem,” said Rajeev Chandrasekhar, Minister of State for Electronics & IT.
🗞️ Vodafone Idea seeks relief from SC, stock jumps 35%
Vodafone Idea has approached the Supreme Court for relief on its pending ₹30,000 crore AGR dues. The move triggered a sharp rally in the stock, as investors anticipate a favourable verdict that could ease liquidity pressures.
🗞️ Norwest leads ₹1,465 crore investment in IKF Finance
IKF Finance, a vehicle loan-focused NBFC, has raised ₹1,465 crore from Norwest Venture Partners and other investors. The capital will be used to strengthen its lending base and expand to Tier-3 cities.
🗞️ SBI Card, Apollo Pharmacy launch co-branded credit card
SBI Card has partnered with Apollo Pharmacy to introduce a premium health and wellness credit card offering up to 10% discount on pharmacy spends, insurance benefits, and reward points on wellness products.
🗞️ Govt revamps tax exemption for startups under Section 80-IAC
In a move to support startups, the DPIIT and Finance Ministry are working on a revamped Section 80-IAC to make income tax exemptions more accessible. The aim is to simplify compliance and increase the number of eligible beneficiaries.
💬 Expert Take: “This reform was long overdue. If implemented well, it could revive investor sentiment in early-stage startups,” said Siddarth Pai, Founding Partner, 3one4 Capital.
🗞️ UPI Lite off to slow start
Despite being live across major banks, UPI Lite, designed for low-value offline payments, has seen weak adoption. Industry insiders cite lack of consumer awareness and wallet-based friction as key barriers.
🗞️ RBI urges inclusion of contact info in nominations
The RBI has recommended that banks include customers’ email IDs and phone numbers while registering nominees. This move aims to streamline communication and reduce claim disputes in the event of account holder demise.
🗞️ RBI's bond auction sees strong demand
The central bank's OMO (Open Market Operations) attracted bids worth ₹71,194 crore—nearly double the notified amount of ₹40,000 crore—indicating strong appetite for government bonds amid liquidity adjustments.
📊 Market Updates
📈 Sensex: 82,530.74 ▲ +1.48%
📈 Nifty 50: 25,000.00 ▲ +1.61%
💵 USD/INR: ₹85.50 ▼ -0.09%
🛢️ Brent Crude: $64.50 ▼ -2.4%
🪙 Bitcoin: $104,105 ▲ +1.78%
🪙 Gold (MCX): ₹93,425 per 10g ▲ +₹230