On July 8, the Reserve Bank of India asked lenders to switch from Libor to other Alternative Reference Rates by December 31, 2021.
Business Standard spoke to Siddharth Purohit, Equity Analyst, SMC Global to comprehend the impact of this move on the way banks deal in international contracts among others.

Libor shift: The bank plan to move to alternative reference rates explained

The funds will be used for capex expansion and drive growth initiatives by enhancing production capabilities, accelerating new product development, and expanding presence across the country.

Waaree Energies Ltd on Monday said its board has approved three investment proposals aggregating Rs 850 crore to set up electrolyser and storage cell manufacturing facilities.
The board also approved capital expenditure (capex) of Rs 130 crore in invertor business through its wholly-owned subsidiary Waaree Power Private Limited.
The board approved "capital expenditure of Rs 551 crore and investment of Rs 200 crore for 300 MW electrolyser manufacturing plant in its wholly-owned subsidiary Waaree Clean Energy Solutions, under the PLI Scheme," Waaree Energies said in an exchange filing.
It also approved a capital expenditure of Rs 2,073 crore and an investment of Rs 650 crore for setting up a 3.5 GWh Lithium-Ion Advanced Chemistry Storage Cell manufacturing plant in its wholly-owned subsidiary Waaree Energy Storage Solutions.
The capex will be funded by a mix of debt and internal accruals, the company said.
The board further approved the appointment of Amit Paithanka, Chief Executive

It also approved a capital expenditure of Rs 2,073 crore and an investment of Rs 650 crore for setting up a 3.5 GWh Lithium-Ion Advanced Chemistry Storage Cell manufacturing plant

Reportedly, the Samsung Galaxy S25 Slim will not launch alongside the other three models. Instead, it is expected to debut separately in the second quarter of calendar year 2025

Reportedly, Apple is planning to expand its smart home products portfolio with Apple Intelligence-powered devices, including a wall-mounted iPad, a robotic tabletop device, a smart home camera

The production could fall to around 27 million metric tons from the last year's 32 million tons and below annual consumption of more than 29 million tons, said India head of a global trade house

A finance ministry spokesperson, the GST Council Secretariat and a spokesman for the ruling Bharatiya Janata Party did not respond to requests for comment on the controversy

The CII pointed out that despite being successful, the PSL framework required recalibration to stay relevant

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

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Libor shift: The bank plan to move to alternative reference rates explained

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