Opportunity India Desk

The Union Finance Ministry has approved an additional allocation of INR 1,500 crore for the second phase of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program. This move aims to address concerns that the funds might run out before the scheme's conclusion in March 2024 due to the robust ...

Scheduled Commercial Banks (SCBs) directed INR 23.36 lakh crore towards Priority Sector Lending in micro, small, and medium enterprises in November 2023, marking a 21.9 per cent surge from INR 19.16 lakh crore deployed in the same month the previous year, according to the data on sectoral credit deployment released by the Reserve ...

In anticipation of the fiscal year 2024-25 Union Budget, the PHD Chamber of Commerce and Industry (PHDCCI) has submitted an economic memorandum to Union Finance Minister Nirmala Sitharaman. Drawing insights from surveys, analyses, and inputs from PHDCCI members nationwide, the memorandum addresses the global economic landscape characterized by geopolitical uncertainties, high ...

Non-banking financial companies (NBFCs) have experienced major growth in loans extended to micro, small, and medium enterprises, surpassing that of traditional banks by over three times, according to a report released by the Reserve Bank of India (RBI). The central bank's latest assessment of the banking sector's performance for the fiscal years 2022-23 ...

Electric vehicle (EV) sales in 2023 experienced remarkable growth, reaching a total of 15,29,614 units, a 49 per cent increase from the 10,25,123 EVs registered in the prior year, as per data from Vahan, the government's vehicle registration portal. Two-wheelers remained the primary driver of registrations, accounting for 8,59,198 units. However, the most ...

The government is formulating a plan to replace approximately 800,000 diesel buses, constituting about one-third of the total buses plying on roads, with electric ones within the next seven years. This initiative aims to transform the public transport system, contribute to environmental sustainability efforts, and give a boost to the country's electric vehicle ...