Indian Business

Good news to Reliance employees, the company allotted 15,000 shares worth Rs 1,50,000 as stock options, the company announced through an exchange filing. The shares worth Rs 10 each were allotted under the Employee Stock Option Scheme 2017. The announcement came as a reward to the employees. Notably, the company in the fourth-quarter-financial year 2023 reported a jump in total income to Rs 2,19,294 crore, with 21,374 crore net profit.

In a major business development, the Reserve Bank of india (RBI) kept repo rate unchanged at 6.5%. The last time RBI Monetary Policy Committee announced a hike in reserve repo rate by 25% was in 2023 February. The decision was taken considering the current inflation and economic crisis, globally. However India and its made in India initiative is working wonders, with India maintaining its economic situation.

In order to extend support to start-ups in India, the BJP-led Central Government announced "Credit Guarantee Scheme". On October 7, the Commerce Union Minister Piyush Goyal said, "Government enables eligible companies to borrow collateral-free money up to Rs 10 crore making sure they reach their true potential,." The move will help micro businesses and start-up establishments to not only take risks but, provide guaranteed loan schemes.

India will be the third largest economy nation by 2030, analysed economists. Recently, India overtook the United Kingdom as the fifth largest economy in the world, and if continues will be in the third position. Arvind Virmani, the Chief Economic Advisor said, "India is moving up the power scale". Furthermore, with this progress in economy, this is the second time India has beaten the UK, the first being in 2019.

Amit Burman stepped down as the Chairman of Dabur, with effect from August 10. The fast-moving consumer goods (FMCG) brand Dabur board accepted the resignation of Amit Burman, who will now be working in a position of a non-executive director for the business. Notably, Burman … read-more