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Business News/ News / India/  Top news this week: Govt's White Paper, Repo Rate, Paytm-RBI saga and more
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Top news this week: Govt's White Paper, Repo Rate, Paytm-RBI saga and more

Big headlines of the week (4 February to 10 February): RBI-Paytm saga, RBI's repo rate, Union Govt's White Paper, layoffs in tech sector

Top news of the weekPremium
Top news of the week

Here are top news of the week between 4 February to 10 February that made headlines:

Layoffs continue to roil software industry with 32,000 jobs cut

The tech industry has started 2024 with another wave of job cuts, paring back even further after widespread layoffs last year. So far, some 32,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi, a startup that has been tracking job cuts in the industry since the pandemic. Read more

RBI Policy: Governor Shaktikanta Das keeps repo rates unchanged at 6.5%

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Thursday decided to keep its key policy rates unchanged for a sixth straight meeting.

Shaktikanta Das-headed six-member MPC maintained the repo rate at 6.5% with five out of six members voting in favour of the rate decision. Read more

RBI Policy: India's real GDP growth for FY25 projected at 7%

The RBI projects a 7% real GDP growth for the upcoming financial year 2024–25 from the previous projection of 6.6%. This projection includes a growth rate of 7.2% in Q1, 6.8% in Q2, 7% in Q3, and 6.9% in Q4. Read more

EPFO restricts transactions in Paytm Payments Bank. Check details here

Employees Provident Fund Organisation (EPFO) has restricted deposits and credit transactions in Paytm Payment Bank accounts. This was announced in a circular issued on Feb 8, 2024 and uploaded on the official website of pension fund body. Read more

Kharge releases 'black paper' on 'failures' of Modi govt in last 10 years

The Congress president said that the party is raising the issues of unemployment and discrimination with opposition-ruled Southern states.

"We are raising the main issue of unemployment, which the BJP never talks about...There is discrimination being done with non-BJP states like Kerala, Karnataka, Telangana..." Read more

FM lays White Paper, says ‘UPA converted coal to ash…we converted into diamond’

Finance Minister Nirmala Sitharaman on 9 February laid the 'White Paper' in Lok Sabha and called it is a statement laid with responsibility. While speaking in the Lok Sabha, the Finance Minister said, “White Paper' has been laid on the table by the government, after 10 years of pulling out an Indian Economy which was in fragile five to reach the stage of top five. It is a statement laid with responsibility…". Read more

Vedanta Resources makes upfront payment of $779 million to bondholders

Metals and mining giant Vedanta Resources Ltd on Friday said it has made an upfront payment of $779 million to its bondholders and completed repayments as part of the debt restructuring exercise. Read more

Paytm forms advisory panel under former SEBI chairman M Damodaran

The owner of fintech firm Paytm, One 97 Communications Limited, on Friday announced the formation of an advisory committee chaired by former Securities and Exchange Board of India (SEBI) chairman M Damodaran. The committee will work closely with the Board of Directors to further strengthen compliance and regulatory matters. Read more

Max Healthcare acquires Nagpur-based Alexis Hospital for 412 crore

The 200-bed hospital is set up on a land parcel of 2-acre at Mankapur, north of Nagpur. The facility has potential to increase its bed capacity from 200 operational beds to 340 beds after necessary regulatory approvals. Read more

Licious lays off 80 employees with eye on growth

Omnichannel meat brand Licious has laid off 80 employees, accounting for 3% of its workforce, as part of what it called an “an operational reset" to sharpen its focus on growth. Read more

Paytm E-commerce renamed as Pai Platforms, acquires ONDC seller firm Bitsila

Paytm E-commerce has changed its name to Pai Platforms after receiving approval from the Registrar of Companies, said a report. The company had applied for a name change around three months ago and got the approval from the Registrar of Companies on February 8. Read more

Airbus to make A220 doors in India

Airbus SE, the European aerospace major, on Thursday signed a deal with Dynamatic Technologies for the production of door variants for the Airbus A220, the latest addition to its aircraft line-up. Read more

Gautam Adani rejoins $100 billion club after Hindenburg report

Adani Group chairman Gautam Adani has returned to the $100 billion club after recovering much of his wealth following the US-based short-seller Hindenburg Research's attack in 2023. Adani's net worth rose to $100.7 billion on Wednesday, making him the 12th-richest person in the world. Read more

Virat Kohli to end 8-year Puma deal, may join Agilitas Sports; Puma MD responds

Managing Director of Puma India gave a cryptic statement and said "PUMA’s relationship with Virat Kohli is long-standing and continues." Read more

Tata Steel completes proposed amalgamation of five of nine subsidiaries

Tata Steel Ltd announced that it has successfully amalgamated five of its nine strategic businesses, in line with its long-term strategy and commitment to simplify its business portfolio. In an exchange filing on Wednesday, the company said the integration of the five businesses was underway after it completed the regulatory processes. Read more

HDFC Bank raises $300 million via maiden sustainable finance bond issue

The country's biggest private lender by market capitalisation priced its three-year sustainability bond at a yield of 5.196%. This is 95 basis points (bps) over the three-year U.S. Treasury yield, sharply lower than the initial guidance of a 125-bps spread. Read more

Paytm's Sharma knocks doors at Mint Road, North Block

Paytm founder Vijay Shekhar Sharma on Tuesday met finance minister Nirmala Sitharaman, days after the Reserve Bank of India (RBI) barred Paytm Payments Bank from accepting fresh deposits starting March due to serious regulatory violations, two people with direct knowledge of the matter told Mint. Read more

Emirates launches pre-approved visa on arrival for select Indian passengers

Emirates, one of the flag carriers of the United Arab Emirates, has announced a pre-approved visa-on-arrival facility for Indian passport holders in partnership with VFS Global. The service is exclusively available to Indian passport holders who have a valid six-month visa for the US, US Green Card, EU Residency, or UK Residency and have booked their travel with the airline. Read more

Cred acquires Kuvera, enters wealth-management space

Fintech unicorn Cred said on Tuesday it will acquire online wealth-management platform Kuvera in a cash-and stock-deal to enter the wealth-management space. The size of the deal was not disclosed. Read more

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Published: 10 Feb 2024, 12:04 PM IST
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