Mint Evening Digest: Moody's cuts India's growth forecast, Meta action and More
PremiumRead top business news, equity market precursors, and economic and banking news updates from India and across the world for September 1, 2022.
Moody's cuts India's 2022 growth forecast to 7.7% from 8.8%
Global ratings agency Moody's Investors Service on Thursday sharply lowered India’s economic growth forecast for 2022 to 7.7% from 8.8%, estimated earlier, on the back of monetary policy tightening, uneven distribution of monsoon, and slowing global growth. Read More Here.
Sebi rejigs panel on cyber security, expands to six members
The Securities and Exchange Board of India (Sebi) has restructured its high-level panel on cyber security that suggests measures to safeguard the capital markets from such attacks. The committee, which has now six members, will be chaired by Navin Kumar Singh, DG at National Critical Information Infrastructure Protection Centre (NCIIPC), news agency PTI report said. Read More Here.
India likely to become sixth largest insurance market in next 10 years
India is likely to become the sixth largest insurance market in the world over the next decade driven by regulatory push and rapid economic expansion. In its latest report, Swiss Re Institute expects the country's total insurance premiums to grow by an average of 14% n nominal local currency terms in the next 10 years. Read More Here.
Coal India’s supply to power sector at 108% of target during Apr-Aug
Coal India’s (CIL) supplies to power sector rose to 243.3 million tonnes (MTs) in April-August against the annual action plan (AAP) target of 225.4 MTs, the company said in a statement on Thursday. Read More Here.
Meta takes action against 2.7 crore posts on Facebook, Instagram in India: Report
Social media major Meta, in its monthly transparency report released on Wednesday, informed that it had taken action against 2.7 crore on Facebook and Instagram in July. Read More Here
Rajasthan govt sanctions ₹40 crore for electric vehicle policy
The Rajasthan government has come up with its electric vehicle policy to encourage the purchase of EVs in the state. The state government's Rajasthan Electric Vehicle Policy (REVP) came into being on Thursday under which the government has sanctioned a fund of ₹40 crore for contribution to the purchase of electric vehicles. Read More Here.
HDFC Bank to hire 3,000 employees in Maharashtra in FY23
HDFC Bank, the largest private sector lender, is looking forward to expand its network in the state of Maharashtra. On Thursday, the private lender said that it will hire 3,000 people in the state with new branches and banking lobbies this fiscal. Read More Here
India's air traffic to grow nearly 7% through 2040: Boeing India
India's air traffic to annually grow by nearly 7 per cent through 2040, and is bullish on the "massive potential" in the air cargo space, expects aircraft maker Boeing. The firm is also looking to increase the sourcing of raw materials from the country. Read More Here.
Pakistan inflation hits 47-year high before full impact of flood
Pakistan’s inflation accelerated for a sixth straight month to hit a fresh record in August, with the deadly floods risk jolting prices further. Read More Here.
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