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.
- 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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- 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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- 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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