Here we will see more news including bank employee, foreign exchange peak, onion export ban, equity fund investment 22 decline.
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Business news, |
In artical's
2, investment in equity funds declined by 22 percent
4, foreign exchange reserves peaked
5, electric vehicle sales up 25,5% in november
6, 17 percent hike in bank employee wage
7, 335 crore investment in T,I
8, tata plans to set up an iphone plant in Hosur
India bans onion exports
The Directorate of Foreign Trade has informed that the central government has
imposed a ban on the
export of
onion till March next year.
The government is taking various measures to increase domestic availability of
onion and keep the price under control.
Following this, the central government has imposed a ban on the export of
Onion A till March 31 next year. From October 28 to December 31, the minimum
price for onion export has been set at Rs 66,400 per tonne.
Also, from last August to December, the government imposed 40 percent tax on
exports.
However, on request from other countries, export of onion will be allowed with
government approval.
This is stated. In the current financial year, during the period from April 1
to August 4, the country's onion exports stood at 9.75 lakh tonnes.
Investment in equity funds declined by 22 percent
Last November,
investment
in equity mutual funds fell by 22 percent to Rs 15,536 crore. It was Rs,19,957
crore in October. Due to Diwali festival and bank holidays, investment may be
lower considered. RS, 17,073 4 through SIP, however, reached a new high.,
'India to solve carbon tax'
From
2026, the European Union plans to impose a carbon tax on certain imported
goods. As a result, Indian exports of seven carbon-based sectors including
aluminum and steel are likely to be affected.
Union minister Piyush Goyal has expressed hope that the issue will be
resolved. He also said that if necessary, the European Union will be
retaliated against.
Foreign exchange reserves peaked
The country's foreign exchange reserves reached a new high of Rs 50 lakh crore
after four months as on 1st. Earlier on August 11, the balance stood at Rs
49.80 lakh crore. Accordingly, Reserve Bank Governor Shaktikanta Das said that
he is confident of meeting the foreign financial needs.
During the period from April to October this year, it has been reported that
foreign direct investment has decreased to nearly Rs 86,320 crore.
Electric vehicle sales up 25.5% in November
Last month, retail sales of electric vehicles rose 25.5 percent, according to
the Automobile Dealers Association.
Last November 2022, the total sales of electric vehicles was 1.21 lakh.This
has increased to 1.52 lakh in November this year.
Electric two-wheelers, three-wheelers, passenger and commercial vehicles have
grown by 18, 32, 77 and 162 per cent respectively.
17 percent hike in bank employee wages
The Indian Bankers Association has reached an agreement with the unions to
increase the annual salary of bank employees by 17 per cent. Accordingly, a 17
per cent hike in salary and perquisites has been agreed upon for the financial
year 2021-22 based on annual pay. The wage revision will be effective for a
period of five years starting November 1, 2022, and will cost all public
sector banks, including SBI, Rs 12,449 crore, it said.
335 crore investment in T.I
'Motilal Aswal Mutual Bandu' Institute, Murukappa The group's 'Tube in
Investments of India' has bought shares worth Rs 335 crore. Motilal Oswal
bought 10 lakh shares at an average price of Rs 3,348 per share. The deal is
worth a total of Rs 3,348 crore. In this case, the shares of TI Company rose
by 2.27 percent and traded at Rs 3,410 on the National Stock Exchange
yesterday.
Tata plans to set up an iPhone plant in Hosur
There are reports that 'Tata Group' is planning to set up India's largest
'iPhone Ace Bli' plant in Tamil Nadu.
One of Apple's most popular products, the iPhone, is manufactured under
contract manufacturing in India. In the last financial year, nearly Rs 58,00
crore worth of iPhones were assembled in India. Subsequently, India's share in
Apple's total iPhone production rose to 7 percent.
The Tata Group acquired Wistron Corporation's factory in India, which was
manufacturing iPhones on a contract basis, this year.
Subsequently, it also emerged as the first domestic company to manufacture
phones in India. In this situation, it is reported that the Tata Group is
planning to set up a second plant in Hosur.
The plant will reportedly be one of India's largest iPhone assembly plants
with 20 assembly lines and will create 50,000 jobs. It is also said to be
operational in the next 12 to 18 months.