The Reserve Bank of India has asked banks and non-banking financial institutions to limit lending to consumers amid growing risk concerns. Consumer loans will attract a credit risk weight of 125 per cent as compared with 100 per cent earlier. For NBFCs, too, consumer loans will attract a risk weight of 125 per cent, The move will make consumer lending costlier for banks and non-bank lenders and put pressure on lending rates too.

The RBI has imposed a monetary penalty of ₹90.92 lakh on Axis Bank and ₹42.78 lakh on Manappuram Finance for violation of certain directions of the banking sector regulator.

Shares of Delhivery will be in focus on reports that Softbank is planning to sell stake worth $150 million via a block deal. Softbank may sell up to 4 per cent stake. 

Technocraft Industries (India) informed the exchanges that it will discontinue the production of Milange Yarn at its Milange Yarn unit located in Murbad, Maharashtra, due to adverse market conditions and losses. During FY23, the revenue contribution from this unit was 5.69 per cent of total revenue. Milange Yarn Unit – Murbad is having about 30,000 spindles to manufacture Milange Yarn.

Elpro International has further acquired 78,560 shares of Jyothy Labs Ltd and 1,234 shares of Nestle India from open market for investment purposes. Elpro has been acquiring company shares in small quantities.

Realty firm Brigade Enterprises has formed a partnership with Krishna Priya Estates and Micro Labs to develop a housing project in Bengaluru with an estimated sales value of ₹2,100 crore. The 14-acre land parcel is located at Yelahanka in North Bengaluru.

Leading two-wheeler and three-wheeler manufacturer TVS Motor Company on Thursday said it has signed an agreement with Emil Frey, one of the Europe’s largest automobile importers and retailers, for distribution of its products including the TVS Apache RTR 310 in European Union markets. The Chennai headquartered company said France will be the first country for the launch, where an entire suite of its products including ICE and EV models will be made available starting January 2024.

JSW Steel informed the exchanges that after considering the demand and supply scenario of iron ore in India, it has withdrawn its application for the final mine closure plan for surrender of Jajang Iron Ore Block in Odisha.

The disinvestment in IDBI Bank may not be completed by March 2024, said the Department of Investment and Public Asset Monetisation (DIPAM) Secretary, Tuhin Kanta Pandey.

State-owned power producer SJVN has signed a pact with Solar Energy Corporation of India to supply 200 MW of wind power. The power producer has signed a power purchase agreement (PPA) for a 200 MW grid-connected wind power project with Solar Energy Corporation of India Ltd (SECI), SJVN Chairman and Managing Director

JSW Infrastructure has emerged as the winning bidder for development of all-weather, deep-water, greenfield port at Keni in Karnataka on Public Private Partnership basis. The Karnataka Maritime Board, Government of Karnataka has issued the Letter of Award (LOA) to JSW Infrastructure. As per the RFP document, the estimated cost of the Project is ₹4,119 crore with initial capacity of 30 MTPA.

Coromandel International has unveiled its Coromandel Nanotechnology Center at Coimbatore, Tamil Nadu, which will support its efforts towards development of wide range of nano-enabled agro-inputs for plant nutrition and crop protection. The Center will be the sixth R&D facility of Coromandel and the second Tech Centre which will focus on development of next-generation agri-inputs, the first being Coromandel’s research facility in Monash Academy, IIT Bombay.

The board of DCX Systems has approved a proposal to raise funds up to Rs 500 crore via public issue, preferential issue, rights issue, private placement(s) or qualified institutions placement.

Goa Carbon resumes operations at the company’s Paradeep unit of Odisha

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