Top headlines: RBI backs NPCI-type agency for fintechs, how green are EVs?

From RBI backing the creation of an NPCI-type agency for fintechs to the road ahead for electric cars in India, read today's top news stories at Business Standard

RBI working committee in favour of setting up NPCI-type agency for fintechs

The newly-formed working committee of the Reserve Bank of India (RBI) is in favour of setting up an agency which will act as an umbrella institution for financial technology (fintech) firms in view of growing complaints against the collection and recovery practices deployed by some digital lending applications (apps). Read more

How green are EVs? Long, winding road ahead for electric cars in India

The electric vehicle (EV) evolution in India’s passenger vehicle market has remained frozen in time and may see limited adoption over the next decade, experts say. Weak consumer appetite, inadequate charging infrastructure, an inconsistent policy roadmap, and a high payback period, among other factors, have stymied EV adoption in the personal car segment. To a great extent, carmakers are still grappling with the same issues which failed Reva — high cost of acquisition, battery costs, range anxiety, infrastructure-related issues and high payback period. Read more

Budget 2021: Consumer durables makers seek respite from inflation, taxes

Consumer durables manufacturers, grappling with a recent surge in raw material cost and falling demand, have asked the finance minister for budgetary measures that will reduce cost pressures and improve the purchasing power of consumers. With prices of key raw materials such as copper, steel and plastic on the rise since at least November, players operating in most durables and electronics categories like refrigerators, televisions (TVs) and washing machines are feeling the pinch. Read more

Govt may bring regional rural banks under a holding company in Budget

The government is working on a policy to bring regional rural banks (RRBs) under a holding company to better govern these lenders and help them raise equity from the market. The intention to further reform the regional rural banking space may feature in the Union Budget. Currently, there are 43 RRBs in the country. The step would help centralise their functioning, improve efficiency and ensure they are run professionally. Read more

NBHC plans to start an electronic market platform outside the mandis

In one of the first moves after passing of the three agriculture Acts, National Bulk Handling Corporation (NBHC), a leading agri-warehousing services company, is planning to start an electronic market platform outside the mandis. This will complement its growing network of NABL-accredited quality testing and assaying labs along with existing storage infrastructure. Read more

Investors should rebalance exposure to US-focused funds; don't exit

US-focused funds have rewarded investors well with an average return of 31.2 per cent over the past year and 15 per cent (compound annualised) over seven years. Such a stellar performance has given rise to many questions in the minds of new and existing investors. Why invest in the US market? Investing in US equities provides geographical diversification. Read more

India plans foreign investment rule changes that could hit Amazon: Report
India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.com Inc, to restructure their ties with some major sellers. Read more