The Indian government is poised to approve employment-linked incentive schemes after assembly elections conclude in Jharkhand and Maharashtra. The labor ministry aims to implement these schemes by 2024, aiming to transition a significant portion of India's informal workforce into formal employment, ensuring minimum wages and social security benefits.
At the COP29 climate summit in Azerbaijan, US climate envoy John Podesta reassured nations that the US remains committed to combating climate change despite Trump's election victory. However, the summit faced challenges including setting the agenda and securing climate finance for developing countries, amidst concerns over Trump's pledges to reverse climate action and maximize fossil fuel production.
The Supreme Court dismissed SEBIs appeals against penalties on Reliance Industries and its promoters, which were quashed by the Securities Appellate Tribunal (SAT). However, the court agreed to hear Reliances cross-appeal regarding the price manipulation case involving RPL shares
Bandhan Bank and other small finance banks that transitioned from microfinance faced higher slippages in Q2. Despite efforts to reduce micro-ticket lending and increase secured portfolios, 75-80% of fresh slippages originated from the microfinance business
India has experienced significant growth in intellectual property filings, with patents and industrial design filings doubling and trademarks increasing by 60% between 2018 and 2023. This surge has propelled India to 6th globally in patent filings, driven by a rise in resident innovation, according to the commerce and industry ministry.
The National Highway Traffic Safety Administration (NHTSA) is investigating engine failures in 1.4 million Honda and Acura vehicles. The issue, involving connecting rod bearings in 3.5-liter V6 engines, can lead to complete engine failure. While Honda recalled 250,000 vehicles in 2023, the NHTSA received 173 complaints from owners whose vehicles were not included in the recall, prompting this investigation.
