What is today's business news in brief in india

Here we will see more news including bank employee, foreign exchange peak, onion export ban, equity fund investment 22 decline.

Business news,

 In artical's

1, india bans onion export

2, investment in equity funds declined by 22 percent

3, india to solve carbon tax

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.