- Wednesday, March 12, 2025
By: Shubham Ghosh
HERE are some news related to Indian economy and business for Saturday, July 16, 2022:
India’s HDFC Bank on Saturday said its net profit rose by 19 per cent year-on-year to Rs 9,196 crore (£973 million) for the quarter ended June 30, 2022, ANI reported. The bank’s core net revenue (excluding trading and Mark to Market losses), grew by 19.8 per cent to Rs 27,181.4 crore (£2.8 billion) for the first quarter of the current financial year as compared to Rs 22,696.5 crore (£2.4 billion) recorded in the corresponding period of the last fiscal. The bank’s total net revenues (net interest income plus other income) stood at Rs 25,869.6 crore (£2.7 billion) for the quarter ended June 30, 2022.
India’s National High-Speed Rail Corporation Limited (NHSRCL) has issued a contract to Mitsubishi Precision Company, Limited, Japan, for the design, manufacturing, supply, and commissioning of training simulators of a high-speed train, popularly known as Bullet Train, Asian News International reported. The simulators will be used for training purposes in the HSR Training Institute of Mumbai-Ahmedabad High-Speed Rail Corridor (MAHSR) in Vadodara in the state of Gujarat. A sample track is already being installed for the training purpose. According to an official statement by the NHSRCL, the training simulators will help the drivers, conductors, instructors, and train or rolling stock maintenance staff to understand the driving theory of high-speed rail (HSR).
Tata Capital Ltd has launched digital on-boarding journey for Loan against Shares, ANI/BusinessWire India reported. As a part of the launch of the facility, Abonty Banerjee, the Chief Digital Officer of Tata Capital, said that the digital LAS offered by the NBFC will help its customers meet their financial requirements conveniently. She further said that Tata Capital is confident that its newly – launched credit facility will benefit its customers.
The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Saturday in Bali, Indonesia, to improve mutual cooperation between them, the Hindu BusinessLine reported.
Vodafone Idea’s shareholders have approved equity allocation worth ₹436.21 crore (£46 million) to its promoter entity, the Vodafone Group, the Press Trust of India reported. As per voting results submitted to the stock exchanges on Friday (15) evening, 99.94 per cent of Vodafone Idea (VIL) shareholders approved allocation of the equity to Vodafone Group firm Euro Pacific Securities.
