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97.62 percent of ₹2,000 currency notes already returned, says RBI

RBI revealed that 97.62 percent of the ₹2000 banknotes in circulation as on May 19 last year have been returned. The total value of banknotes in circulation, ₹3.56 lakh crore in May last year, has now declined to ₹8,470 crore on Feb 29, 2024.

1 min read1 Mar 2024
Videos

Adani promoters raised ₹39.4K cr amid scrutiny | Mint Primer | Mint

After a critical report by Hindenburg Research, Adani group promoters have raised ₹39,400 crore by diluting stakes in their companies. This move has generated liquidity that could be used for growth spending or to repay debts. GQG Partners, led by respected investor Rajiv Jain, has invested heavily in Adani group companies, providing a vote of confidence. The group's strategic moves could include investments in the renewables sector. Despite the setback caused by the report, the group's companies have seen a recovery in their stock prices. An investigation cleared the group of wrongdoing, potentially attracting more foreign investors in the future.

1 Sep 2023
Videos

RIL to invest ₹1.5 tn in green energy business | Mint Primer | Mint

Reliance Industries Ltd (RIL), led by Mukesh Ambani, is doubling its green energy investment target to ₹1.5 trillion, showing its commitment to sustainability. RIL is progressing on the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, with investments in solar, wind, and battery manufacturing. It's competing with Tata and Adani groups in India's new energy sector. RIL plans to establish 100 GW of solar energy by 2030, build giga factories, and has partnerships with various companies. This push aligns with global trends as companies like ExxonMobil and BP aim for net-zero emissions.

25 Aug 2023
Videos

Can Indian phonemakers ring in the China magic | Mint Primer | Mint

On 4 July, Reliance Subsidiary Jio Platforms Launched A 4g-Equipped Feature Phone, Called Jio Bharat 4G, For Under ₹1,000. Other Indian Brands Also Plan To Launch Inexpensive Smartphones. After Having Lost Out To Chinese Brands Nearly A Decade Ago, Can The Indian Brands Cut It In Today’s Market?

13 Jul 2023
Videos

₹2000 Note Axed: What You Need To Know Today

The Reserve Bank of India, in a surprise move, announced the withdrawal of 2,000 rupee notes from circulation on Friday. While the notes will continue to remain legal tender, people are being encouraged to exchange them at the earliest. Mint is an Indian financial daily newspaper published by HT Media.

20 May 2023
Videos

Warburg Pincus exits PVR for ₹380 cr | Mint Primer | Mint

US-based global private equity firm, Warburg Pincus has exited Indian multiplex giant PVR by selling its entire stake of 2.49% through its affiliate in a block deal recently. The transaction aggregated more than ₹380 crores. However, major domestic mutual funds were among the top buyers of PVR in the open market. As per the block deal, on the BSE, Warburg-backed Berry Creek Investment sold 24,39,301 equity shares at a price of ₹1,559.35 per share in PVR, aggregating to ₹380.37 crore. This would be its entire stake of 2.49% in the Ajay Bijli-led company. Let's understand more about this transaction and how it might affect the market.

2 Apr 2023
Companies

Covid sparks distress sale of luxury cars

Prices of luxury cars depreciate the most, compared with other categories in the pre-owned marketLuxury car dealerships say they are receiving an increasing number of requests from customers to find clients for their pre-owned vehicles at heavily discounted prices

2 min read21 Sep 2020
Companies

GoAir offers flight tickets starting ₹2358. Routes, details here

Under this offer, GoAir is offering Chennai to Bengaluru tickets starting from ₹2358Budget carrier GoAir has added over 100 new flights in its domestic network starting September 5

1 min read7 Sep 2020
News

Govt to extend Emergency Credit Line Guarantee Scheme to individuals now

Individuals can avail themselves of ECLGS if they already had loans for business purposes and subject to condition that they fulfill eligibility criteriaThe finance ministry has increased the annual turnover ceiling of companies that could avail loans under the scheme to ₹250 crore from ₹100 crore at present

1 min read1 Aug 2020
Industry

Over ₹3,800 crore disbursed under emergency credit line guarantee scheme: Govt

The collateral-free loans are expected to help MSMEs pay salaries, rent and with restocking expensesUnder the scheme, interest rates capped at 9.25% for banks and at 14% for non-banking financial companies

1 min read3 Jun 2020
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