Economy / Market Snapshot – SEPTEMBER, 2023

General News

• New Parliament Building designated as Parliament House of India hosts special session.
• Parliament passes Women’s Reservation Bill after unanimous support in Rajya Sabha.
• Women’s Reservation Bill gets President Droupadi Murmu’s nod, becomes law.
• Lok Sabha and Rajya Sabha adjourns sine die after passage of landmark bill.
• Assembly bypolls: BJP wins three seats, Opposition block INDIA bags four.
• President Kovind panel meets, seeks views of state and national parties on simultaneous polls.
• Will make ‘clarificatory’ changes in forms to say linking Aadhaar with voter ID optional: EC tells SC.
• Aditya L1 gets ‘send off’ from Earth as ISRO performs key manoeuvre, begin 110-day journey to L1 point.
• ISRO prepares to revive Chandrayaan 3’s Lander and Rover on Moon from sleep during lunar sunrise.
• PM Modi launches ₹13,000-crore ‘PM Vishwakarma’ scheme for traditional workers.
• Rajnath Singh inaugurates 90 infra projects of BRO across 11 States and Union Territories.
• Govt approves defence acquisition worth ₹45,000 crore from domestic vendors.
• Indian Air Force receives first C-295 transport aircraft from Airbus, 55 more to follow.
• PM Modi participates in ASEAN-India Summit and East Asia Summit in Jakarta, Indonesia.
• African Union becomes permanent member of G20 under India’s presidency.
• G20 leaders adopt Delhi Declaration rejecting use of force to acquire territory in reference to Russia.
• President Murmu hosts grand dinner for G20 guests; millets’ dishes, Kashmiri Kahwa on menu.
• PM Modi, Saudi Crown Prince hold first strategic meet, discuss energy, defence.
• Jaishankar holds talks with US Secretary of State Antony Blinken and NSA Jake Sullivan.
• Rahul Gandhi holds talks with European Parliament members in Brussels.
• PM Modi invites US President Biden to India’s 2024 Republic Day celebrations.
• INDIA bloc alliance parties pass resolution to jointly contest 2024 LS polls at Mumbai meet.
• JD(S) confirms alliance with BJP-led NDA ahead of 2024 Lok Sabha elections.
• AIADMK unanimously passes resolution, exits NDA ahead of 2024 polls.
• SC directs Karnataka government to release 5,000 cusecs of Cauvery water to Tamil Nadu.
• Karnataka bandh over Cauvery issue disrupts normal life in Bengaluru, Section 144 imposed.
• Assam govt seeks withdrawal of Disturbed Areas Act, AFSPA from entire state.
• Centre extends Armed Forces Act in some parts of Arunachal and Nagaland from first of October.
• Ex-Andhra Pradesh CM Chandrababu Naidu arrested over alleged corruption charges.
• Nipah virus under control in Kerala, restrictions eased in containment zones.
• Health Ministry reduces qualifying percentile for NEET PG Counselling to 0 across all categories this year.
• National Medical Commission gets global recognition, Indian medical graduates can practice abroad.
• UGC bars varsities from printing Aadhaar number on degrees, provisional certificates.
• Rozgar Mela: PM Modi distributes about 51,000 appointment letters to newly inducted recruits.
• VP Jagdeep Dhankhar conferred Sangeet Natak Akademi Amrit Awards to 84 performing artists.
• Veteran actor Waheeda Rehman to be honoured with Dadasaheb Phalke Award 2023.
• President Murmu presents National Smart City Award to Indore, MP declared as the ‘Best State’.
• MS Swaminathan, father of India’s Green Revolution, passes away at 98.
• India crosses milestone of providing 13 crore rural household tap connections.
• CBI chargesheet against 3 officials in Balasore train accident case.
• Santiniketan finds a place on UNESCO’s World Heritage list.
• Canada links India to slaying of Khalistani separatist leader, expels top Indian diplomat; India retaliates.
• Canada issues second advisory for its citizens travelling to India, asks them to be vigilant.
• Donald Trump won’t be the Republican nominee for U.S. presidential polls: Nikki Haley.
• Republican presidential candidates blame Donald Trump, Democrats over govt shutdown threat.
• Antony Blinken visits KyiV; US announces new security assistance worth $600 million for Ukraine.
• Turkey’s President meets Russia’s Putin and aims to revive the wartime Ukraine grain export deal.
• Putin meets Kim Jong Un at Russia’s space centre; Kremlin to help North Korea build satellites.
• US, South Korea, Japan raise concerns over Russia-North Korea military cooperation.
• China’s Xi Jinping meets Syria’s Bashar al Assad and announces strategic partnership.
• Indian-origin economist Tharman Shanmugaratnam wins Singapore presidential election in landslide.
• Philippines, Malaysia, Indonesia protest China’s “standard map” for 2023.
• China says 90 countries have confirmed attendance for Belt and Road Initiative conference.
• Japan launches rocket carrying ‘Moon Sniper’ lunar lander, , landing in four to six months.
• PM Modi lays foundation stone of ₹451 crore cricket stadium in Varanasi.
• ICC ODI ranking: Australia dethrones Pakistan to clinch top following win over South Africa.
• Mohammed Siraj reclaims Number 1 spot in ICC ODI rankings
• Virat Kohli becomes fifth player to reach 13,000 ODI runs, breaks Sachin Tendulkar’s record.
• Rohit Sharma completes 10,000 ODI runs, second fastest after Kohli.
• India won the 3-ODI match series against Australia 2-1.
• US Open: Djokovic downs Medvedev to win record-tying 24th Slam.
• American teenager Gauff wins US Open for maiden Major title.
• Rohan Bopanna becomes oldest Grand Slam finalist of Open era.
• D Gukesh replaces Viswanathan Anand as India’s top Chess player after 37 years.
• 19th Asian Games begins at Hangzhou in China.
• India 4th with 38 medals: 10 gold, 14 silver and 14 bronze.
• eSports made its debut at the Games as a medal event, seen as a major step toward Olympic status.
• MotoGP Bharat 2023 kicks off at Buddh International Circuit.

Business News

• Cabinet approves ₹1,650 crore subsidy for 75 lakh LPG connections over three years.
• Govt to provide up to 8% interest subsidy for Vishwakarma Yojana.
• Govt approves ₹3,760 crore viability gap fund to promote battery energy storage system.
• Govt enhances LIC agents, employees’ gratuity limit; ups term insurance cover, family pension rate.
• Centre asks pulses stakeholders to disclose lentils’ stocks with immediate effect.
• Centre reduces wheat stock limit to 2,000 tonnes for traders, wholesalers, and big-chain retailers.
• Finance Ministry notifies Oct 1 date for implementing amended GST law provisions for e-gaming.
• India announces launch of Global Biofuels Alliance on sidelines of G20 Summit.
• Rail linking India with Europe announced by Biden, allies at G20 Summit.
• India, Saudi Arabia agree to ‘accelerate’ $50 billion west coast refinery project.
• UP approves new township in Meerut near Rapid rail on the lines of developed countries.
• Karnataka govt approves 91 investment projects worth ₹7,660 crore.
• Assam govt approves ₹5,197 crore project for power sector modernisation.
• Govt rolls out 3rd phase of mandatory gold hallmarking in 55 new districts in 17 states/UT.
• NPCI launches slew of new payment options on payment platforms UPI.
• RBI to discontinue incremental cash reserve ratio by October 7 in phased manner.
• RBI proposes 6-month deadline for banks to identify wilful defaulters.
• ICICI Bank gets RBI nod to make I-Process Services as wholly-owned subsidiary.
• SBI offers UPI integration with digital rupee.
• Bank of Baroda enables UPI ATM facility at over 6,000 ATMs across country.
• Vishnu Prakash R Punglia, Rishabh Instruments, RR Kabel and Yatra Online make their market debuts.
• L&T raises buyback price to ₹3,200, reduces shares offered.
• JP Morgan adds Indian bonds to its global index.
• Jio Financial shares removed from BSE, NSE indices.
• IndianOil unveils India’s first green hydrogen-run bus that emits just water.
• NTPC, Oil India ink pact to explore collaborations in renewable energy, hydrogen space.
• Suzuki Motor inks pact with NDDB, Banas Dairy to set up biogas plants with ₹230 crore investment.
• Tata Motors launches registered vehicle scrapping facility ‘Re.Wi.Re’ in Surat.
• Toyota plans third India plant, new SUV as domestic sales surge in 2023.
• Renault ends common purchasing agreement with Nissan and Mitsubishi
• Hero MotoCorp to invest ₹550 crore into Ather Energy.
• Centre approves 30 railway projects worth over ₹83,000 crore for Telangana.
• TCS bags $1 billion deal from Jaguar Land Rover.
• Reliance, NVIDIA to develop foundational large language model for AI in India.
• Elon Musk, Mark Zuckerberg, Bill Gates to join US senators for AI forum.
• HP partners with Google to make Chromebooks in India from next month.
• IDEMIA partners Airtel Payments Bank, HMD Global to bring CBDC payments to feature phones in India.
• Bharat 6G Alliance and Next G Alliance sign MoU to explore collaboration opportunities.
• Jio launches 5G wireless access device in eight cities.
• Meta launches UPI payments for WhatsApp Business messaging in India.
• Tata Projects partners with Micron Tech to construct advanced semiconductor facility in Sanand.
• Adani Enterprises, Kowa form JV in Singapore to sell green hydrogen, ammonia.
• Adani Green and TotalEnergy to form 50:50 JV with an investment of $300 million.
• Tata Steel, ABB India partner to co-develop technology to reduce carbon footprint in steel making.
• Vedanta splits into six firms; entities to be listed on bourses.
• Government unveils National Policy on R&D in pharma, medtech.
• Cabinet approves foreign investment of up to ₹9,589 crore in Suven Pharma.
• WHO’s good manufacturing norms to be made compulsory for all drug firms.
• Amazon commits $15 million from climate fund to APAC region, earmarks $3 million for India projects.
• Apple starts selling assembled in India iPhone 15 models on launch day for first time.
• SpiceJet pays Kal Airways ₹100 crore towards arbitral award after court order.
• Jalan Kalrock Consortium completes infusion of ₹350 crore in Jet Airways, ready to take control of airline.
• Jet Airways founder Naresh Goyal arrested in ₹538 crore alleged bank fraud case.
• US Federal Reserve leaves rates unchanged, sees tighter policy through 2024.
• Bank of Japan keeps interest rates unchanged, gives dovish guidance on future policy.
• China keeps benchmark rates unchanged as economy finds footing.
• Sri Lanka ends fuel rationing imposed at height of economic crisis.
• UK’s second-largest city Birmingham declares itself effectively bankrupt.
• FSSAI begins milk & milk products’ survey across 766 districts across the country, to submit report by Dec.
• Coffee Day Global and IndusInd bank reach settlement, withdraw insolvency litigation.
• Viacom18 beats Disney to BCCI cricket media rights for $721 million.
• Disney Star bags ₹150 crore sponsorship from Mahindra Auto for Asia Cup & ICC World Cup.
• Writers Guild and Hollywood studios reach tentative deal to end strike.
• KKR makes fresh investment of ₹2,069.50 in Reliance Retail, hikes stake to 1.42%.
• OYO parent Oravel joins Japan’s SoftBank to launch luxury hotel chain ‘Sunday’ in India.
• Cred enters new business segment, launches vehicle management service.
• Uday Kotak resigns as Kotak Mahindra Bank MD & CEO, Dipak Gupta takes interim charge.
• Centre reappoints M. Rajeshwar Rao as Deputy Governor of RBI for a period of one year.
• RBI approves re-appointment of ICICI Bank’s MD Sandeep Bakhshi for three years.
• Former SBI Chief Rajnish Kumar appointed Chairman of Mastercard India.
• Rupert Murdoch steps down as head of News Corp and Fox.