Business news India: Latest India business news headlines today 16 May 2022

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Here’s today business news, the latest business news India today 16 May 2022.

  • Rs 5,000 crore has been lined up by Maruti Suzuki India for different initiatives including the launch of new products in the current FY.

latest business news india today 16 may 2022

  • Bandhan Bank aims to halve the micro-finance portfolio by 2025 to 26% by diversification of the loans into retail, home loans, gold loans, and unsecured lending.
  • According to the data by RBI, a dip of 51% has been in the amount involved in frauds has been reported by public sector banks from Rs 81,921.54 crore in FY 21 to Rs 40,295.25 crore in FY 22.

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Latest business news India today 16 May 2022 – business news headlines today

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  • Bharti Airtel has announced to set up its fourth digital technology hub in Pune and will employ around 500 people as telco pivots.
  • The rates of residential properties in South India have increased by 8-10% and would continue to rise because of increasing input costs and disruptions in global supply.
  • Reliance Industries to acquire small grocery and non-food brands for setting up its own $6.5 billion consumer goods business to compete with other foreign giants.
  • HCL Tech aims to double the headcount in surrounding locations in the upcoming 3-5 years with no impact asserted by the Russia-Ukraine war from Europe.

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Latest business news India today 16 May 2022 – business news India today

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  • Rs 400 crore has been lined up by farm machinery and construction equipment major, Escorts Ltd, for introducing new products and to create production capacity for the same.
  • The MCLR has been increased by SBI by 10 basis points for the second successive month and would make the ole home loans and business loans expensive.
  • According to the data by the Centre for Monitoring Indian Economy, 8.8 million people joined the Indian labor workforce in April summing up to 437.2 million.
  • 26.4 lakhs loans have been disbursed by Paytm in April 2022, thus marking an increase of 449% from 4.8 lakh loans disbursed last year.

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