December 25, 2025

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RBI

24
Dec

RBI/DOR/2025-26/357 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025

24
Dec

RBI/DOR/2025-26/358 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025

24
Dec

RBI/DOR/2025-26/359 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, 2025

24
Dec

RBI/DOR/2025-26/360 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Prudential Norms on Declaration of Dividends) Directions, 2025

24
Dec

RBI/DOR/2025-26/361 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Directions, 2025

24
Dec

RBI/DOR/2025-26/362 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025

24
Dec

RBI/DOR/2025-26/363 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Managing Risks in Outsourcing) Directions, 2025

24
Dec

RBI/DOR/2025-26/364 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Climate Finance and Management of Climate Change Risks) Directions, 2025

24
Dec

RBI/DoR/2025-26/365 (Delhi)
Reserve Bank of India (Housing Finance Companies) Directions, 2025

24
Dec

RBI/DOR/2025-26/366 (Delhi)
Reserve Bank of India (Standalone Primary Dealers) Directions, 2025

24
Dec

RBI/DOR/2025-26/367 (Delhi)
Reserve Bank of India (Core Investment Companies) Directions, 2025

24
Dec

RBI/DoR/2025-26/368 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies - Account Aggregator) Directions, 2025

24
Dec

RBI/DOR/2025-26/369 (Delhi)
Reserve Bank of India (Mortgage Guarantee Companies) Directions, 2025

24
Dec

RBI/DOR/2025-26/370 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Peer to Peer Lending Platform) Directions, 2025

24
Dec

RBI/DOR/2025-26/371 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Microfinance Institution) Directions, 2025

24
Dec

RBI/DoR/2025-26/372 (Delhi)
Reserve Bank of India (Non-Operative Financial Holding Company) Directions, 2025 (Updated as on December 05, 2025)

24
Dec

RBI/DOR/2025-26/373 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Miscellaneous) Directions, 2025

24
Dec

RBI/DoR/2025-26/374 (Delhi)
Reserve Bank of India (Asset Reconstruction Companies) Directions, 2025

24
Dec

RBI/DOR/2025-26/375 (Delhi)
Reserve Bank of India (Asset Reconstruction Companies – Credit Information Reporting) Directions, 2025

24
Dec

RBI/DOR/2025-26/376 (Delhi)
Reserve Bank of India (Asset Reconstruction Companies – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025

24
Dec

RBI/DOR/2025-26/377 (Delhi)
Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Directions, 2025

24
Dec

RBI/DOR/2025-26/378 (Delhi)
Reserve Bank of India (Credit Information Companies) Directions, 2025

24
Dec

RBI/DoR/2025-26/379 (Delhi)
Reserve Bank of India (Credit Information Companies – Managing Risks in Outsourcing) Directions, 2025

23
Dec

RBI/DOR/2025-26/342 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Branch Authorisation) Directions, 2025

23
Dec

RBI/DOR/2025-26/343 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Undertaking of Financial Services) Directions, 2025 (Updated as on December 05, 2025)

23
Dec

RBI/DOR/2025-26/344 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies - Governance) Directions

23
Dec

RBI/DOR/2025-26/345 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Prudential Norms on Capital Adequacy) Directions, 2025

23
Dec

RBI/DOR/2025-26/346 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies - Acceptance of Public Deposits) Directions, 2025

23
Dec

RBI/DOR/2025-26/347 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies– Credit Facilities) Directions, 2025

23
Dec

RBI/DOR/2025-26/348 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Credit Cards: Issuance and Conduct) Directions, 2025

23
Dec

RBI/DOR/2025-26/349 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Credit Information Reporting) Directions, 2025

23
Dec

RBI/DOR/2025-26/350 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Credit Risk Management) Directions, 2025

23
Dec

RBI/DOR/2025-26/351 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies - Concentration Risk Management) Directions, 2025

23
Dec

RBI/DOR/2025-26/352 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies - Transfer and Distribution of Credit Risk) Directions, 2025

23
Dec

RBI/DOR/2025-26/353 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Securitisation Transactions) Directions, 2025

23
Dec

RBI/DOR/2025-26/354 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025

23
Dec

RBI/DoR/2025-26/355 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Asset Liability Management) Directions, 2025

23
Dec

RBI/DOR/2025-26/356 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Income Recognition, Asset Classification and Provisioning) Directions, 2025

22
Dec

RBI/DOR/2025-26/327 (Delhi)
Reserve Bank of India (All India Financial Institutions - Transfer and Distribution of Credit Risk) Directions, 2025

22
Dec

RBI/DOR/2025-26/328 (Delhi)
Reserve Bank of India (All India Financial Institutions – Securitisation Transactions) Directions, 2025

22
Dec

RBI/DOR/2025-26/329 (Delhi)
Reserve Bank of India (All India Financial Institutions – Classification, Valuation, and Operation of Investment Portfolio) Directions, 2025

22
Dec

RBI/DOR/2025-26/330 (Delhi)
Reserve Bank of India (All India Financial Institutions – Asset Liability Management) Directions, 2025

22
Dec

RBI/DOR/2025-26/331 (Delhi)
Reserve Bank of India (All India Financial Institutions – Income Recognition, Asset Classification and Provisioning) Directions, 2025

22
Dec

RBI/DOR/2025-26/332 (Delhi)
Reserve Bank of India (All India Financial Institutions – Resolution of Stressed Assets) Directions, 2025

22
Dec

RBI/DOR/2025-26/333 (Delhi)
Reserve Bank of India (All India Financial Institutions – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025

22
Dec

RBI/DOR/2025-26/334 (Delhi)
Reserve Bank of India (All India Financial Institutions – Financial Statements: Presentation and Disclosures) Directions, 2025

22
Dec

RBI/DOR/2025-26/335 (Delhi)
Reserve Bank of India (All India Financial Institutions – Know Your Customer) Directions, 2025

22
Dec

RBI/DOR/2025-26/336 (Delhi)
Reserve Bank of India (All India Financial Institutions – Responsible Business Conduct) Directions, 2025

22
Dec

RBI/DOR/2025-26/337 (Delhi)
Reserve Bank of India (All India Financial Institutions – Managing Risks in Outsourcing) Directions, 2025

22
Dec

RBI/DoR/2025-26/338 (Delhi)
Reserve Bank of India (All India Financial Institutions – Miscellaneous) Directions, 2025

22
Dec

RBI/DOR/2025-26/339 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025

22
Dec

RBI/DOR/2025-26/340 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies – Acquisition of Shareholding or Control) Directions, 2025

22
Dec

RBI/DoR/2025-26/341 (Delhi)
Reserve Bank of India (Non-Banking Financial Companies - Voluntary Amalgamation) Directions, 2025

20
Dec

RBI/DOR/2025-26/311 (Delhi)
Reserve Bank of India (Rural Co-operative Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025

20
Dec

RBI/DOR/2025-26/312 (Delhi)
Reserve Bank of India (Rural Co-operative Banks – Resolution of Stressed Assets) Directions, 2025

20
Dec

RBI/DOR/2025-26/313 (Daman and Diu)
Reserve Bank of India (Rural Co-operative Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025

20
Dec

RBI/DOR/2025-26/314 (Delhi)
Reserve Bank of India (Rural Co-operative Banks – Financial Statements: Presentation and Disclosures) Directions, 2025

20
Dec

RBI/DOR/2025-26/315 (Delhi)
Reserve Bank of India (Rural Co-operative Banks – Prudential Norms on Declaration of Dividends) Directions, 2025

20
Dec

RBI/DOR/2025-26/316 (Delhi)
Reserve Bank of India (Rural Co-operative Banks – Know Your Customer) Directions, 2025

20
Dec

RBI/DOR/2025-26/317 (Delhi)
Reserve Bank of India (Rural Co-operative Banks – Responsible Business Conduct) Directions, 2025

20
Dec

RBI/DOR/2025-26/318 (Delhi)
Reserve Bank of India (Rural Co-operative Banks – Managing Risks in Outsourcing) Directions, 2025

20
Dec

RBI/DOR/2025-26/320 (Delhi)
Reserve Bank of India (All India Financial Institutions – Undertaking of Financial Services) Directions, 2025

20
Dec

RBI/DOR/2025-26/321 (Delhi)
Reserve Bank of India (All India Financial Institutions (AIFIs) - Prudential Norms on Capital Adequacy) Directions, 2025

20
Dec

RBI/DoR/2025-26/322 (Delhi)
Reserve Bank of India (All India Financial Institutions - Resource Raising Norms) Directions, 2025

20
Dec

RBI/DOR/2025-26/323 (Delhi)
Reserve Bank of India (All India Financial Institutions – Credit Facilities) Directions, 2025

20
Dec

RBI/DOR/2025-26/324 (Delhi)
Reserve Bank of India (All India Financial Institutions – Credit Information Reporting) Directions, 2025

20
Dec

RBI/DOR/2025-26/325 (Delhi)
Reserve Bank of India (All India Financial Institutions – Credit Risk Management) Directions, 2025

20
Dec

RBI/DOR/2025-26/326 (Delhi)
Reserve Bank of India (All India Financial Institutions - Concentration Risk Management) Directions, 2025

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INDIAN ECONOMY

India to beat consensus growth estimates, Goldman Sachs predicts 6.7% growth in 2026 and 6.8% in 2027

Global economic growth is expected to remain resilient in 2026, with India continuing to be one of the fastest-growing major economies, according to Goldman Sachs' Global Economics Analyst Report Macro Outlook 2026. The report projects global growth at 2.8 per cent in 2026, above the consensus estimate of ...

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Base Year revision aims to capture digital economy, new data sources: MoSPI Secretary Saurabh Garg

The government is undertaking a revision of the base year for national accounts to better reflect structural changes in the economy, evolving consumption patterns, and the rapid expansion of the digital economy over the past decade, Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation ...

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Investment pledges surge, jute and tea sectors under strain in West Bengal

Record investment pledges and a renewed push on infrastructure and technology marked 2025 for West Bengal's economy, even as legacy sectors such as jute and tea remained under stress. From the Bengal Global Business Summit in February to the Business and Industry Conclave in December, the state government ...

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States bunch up capex in final months of a fiscal year

State government’s expenditure pattern displays a distinct back-loaded concentration, which surges in February and March, when departments expedite project execution, an article on government finances in RBI’s November Bulletin noted. This bunching up is the result of flow of funds from schemes under grant...

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MARKET & FINANCE

Why strong US growth will make it harder for foreign investors to come back to India

A surprisingly strong US growth has once again tilted the balance in favour of American assets, dimming hopes of a quick comeback by foreign investors into Indian stocks and bonds. This, especially when global capital is chasing safety in gold and silver, hunting for the next wave of growth via AI and new tec...

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Are Flls back on D-Street? Foreigners increase holdings of Indian stocks; buying highest in 2 months as rupee stabilises

The story of Indian stock markets has been defined by the exodus of foreign investors in 2025. But in the last few sessions, foreign investors seem to be back on Dalal Street, with purchases of Indian equities seeing a surge last week, marking the strongest inflows in nearly two months, as the rupee staged a ...

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India bonds rally after Reserve Bank's $32 billion liquidity boost

Indian government bonds rallied in early trade on Wednesday after the central bank announced a large liquidity injection for the coming month, easing concerns over near-term debt supply. The benchmark 10-year yield was at 6.5679% as of 9:50 a.m. IST, after closing at 6.6328% on Tuesday. Bond yields move inver...

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Retail investor outflows in 2025 highest in 6 years

Retail investors have taken out Rs 8,461 crore from equities in 2025 (as of December 19), the highest outflows since 2019, NSE data show. Outflows from FPIs were the highest-ever at Rs 1.58 lakh crore. Domestic institutional investors (DIIs), on the other hand, infused a record Rs 7.61 lakh crore. The numb...

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RBI unveils measures to infuse Rs 3 lakh-crore liquidity

The Reserve Bank of India (RBI) will infuse around Rs 3 lakh crore into the banking system over the next month via open market bond purchases (OMOs) and a buy/sell dollar-rupee swap, it said on Tuesday. The measures include bond buys worth Rs 2 lakh crore through OMOs, conducted in four tranches of Rs 50,0...

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India, New Zealand to deepen ties in financial services

India and New Zealand have agreed to deepen economic partnership by concluding negotiations on a Financial Services Annex as part of the newly finalized Free Trade Agreement (FTA). The annex, announced by the Ministry of Finance, focuses on enhanced cooperation in banking, insurance, fintech, and digital paym...

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GLOBAL CORPORATE

Kuwait signs $4.1 billion deal with China to build port

Kuwait has signed a deal worth $4.1 billion with China to complete the construction of a major port, as the oil-rich country seeks to diversify its economy with a bigger role in global trade. The State Audit Bureau, a government oversight body responsible for monitoring public funds, on Monday said "the en...

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Spain Set to Re-Enter Germany's Top 10 Export Markets as Shipments Jump

Spain is set to become the fastest-growing destination among Germany's 10 biggest export markets in 2025, with shipments forecast to rise 8.5% to 58.8 billion euros ($69.31 billion), a Germany Trade & Invest (GTAI) projection showed. The increase would lift Spain into 10th place among the customers of Euro...

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Visa and Mastercard Report 4% Growth in US Holiday Retail Sales

Sales for U.S. retailers have increased by about 4% so far this holiday season as Americans balanced tighter budgets with a desire to upgrade gadgets and refresh wardrobes, according to preliminary figures released by Visa and Mastercard on Tuesday. Shoppers were more deliberate with their purchases, often...

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Lockheed Martin Aircraft-Related Contract Upped by $10 Billion, Pentagon Says

A previously awarded contract to Lockheed Martin related to C-130J aircraft delivery, development and engineering worth $15 billion has been increased to $25 billion, the Pentagon said on Tuesday. It relates to sales to Egypt, Australia, New Zealand, France, the Philippines, Norway and Germany, according t...

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Pakistan sells loss-making PIA for Rs 135 billion after competitive bidding

Islamabad, Pakistan on Tuesday successfully organised the privatisation process of the national flag-carrier, selling it at Rs 135 billion to a consortium led by a local investment company. The ceremony to privatise the Pakistan International Airlines (PIA) was held in Islamabad where all three pre-qualifi...

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US plans to impose tariffs on Chinese chips in mid-2027, USTR says

The Trump administration on Tuesday said it would slap tariffs on Chinese semiconductor imports starting in June, 2027 at a rate to be announced at least a month in advance. The announcement comes following a year-long investigation into China's chip imports into the United States, launched by the Biden ad...

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INCOME TAX

ITR put on hold under risk management? What the message means

A new message from the Income Tax Department has triggered confusion and concern among taxpayers this week. Many people have reported receiving an SMS saying their ITR refund claim has been “identified under risk management process” and that processing has been kept on hold due to “certain discrepancies.” ...

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Amid rising complaints of stuck refunds, Income Tax Dept cites high ineligible claims; asks taxpayers to file revised ITRs

Amid surging complaints by taxpayers over stuck income tax refunds for the ongoing assessment year 2025-26, the Income Tax Department on Tuesday said certain taxpayers have “claimed ineligible refunds by availing deductions or exemptions to which they are not entitled, resulting in understatement of income”. ...

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Nudge campaign: 1.5 m+ revised ITRs filed this year

The Central Board of Direct Taxes Tuesday said more than 1.5 million taxpayers have revised their income tax returns (ITRs) for the current assessment year (2025-26) as part of a voluntary compliance initiative. It said over 2.1 million taxpayers updated ITRs for AYs 2021-22 to 2024-25, resulting in additi...

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Banking

Hidden charges on foreign exchange transactions will soon be known in advance; RBI issues draft proposal

A large number of people struggle with cross-border payments due to complex processes and high service costs. This happens largely due to hidden charges and a lack of transparency in the process. Whether it's for education fees, living expenses, travel payments, or overseas investment, the actual cost usually...

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CCI approves Blackstone’s proposal for 9.99% stake in Federal Bank

The Competition Commission of India has approved the proposal of Blackstone, the world’s largest alternative asset manager, to acquire 9.99% stake through warrants in Federal Bank, the fair-trade regulator said in a press release on Tuesday. The acquisition would be done through Blackstone’s arm Asia II Topco...

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GLOBAL ECONOMY

Pakistan economy in doldrums: Inflow of foreign loans rises in first 5 months; borrowing up from last year

Pakistan saw a 14% rise in foreign loans and grants during the first five months of the current liscal year (July-November 2025), reaching $3.032 billion compared to $2.667 billion in the same period last year. Of the total inflo...

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Spain's Q3 GDP Quarterly Growth Confirmed at 0.6%

Spain's gross domestic product grew 0.6% in the third quarter of 2025, the country's National Statistics Institute (INE) said on Tuesday, confirming preliminary data. On an annual basis, Spain's third-quarter economic output ex...

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Taiwan November Export Orders Log Fastest Growth in Nearly 5 Years on Robust AI Demand

Taiwan's export orders in November grew at their fastest pace in nearly five years, riding the wave of ongoing demand for AI technology heading into the year-end holidays. Export orders rose 39.5% from a year earlier to $72.92 ...

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US Core Capital Goods Orders, Shipments Increase in October

New orders for key U.S.-manufactured capital goods increased in October and shipments of these goods rose solidly, suggesting business spending on equipment remained strong at the start of the fourth quarter. Non-defense capita...

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Bank of Spain Upgrades Growth Outlook but Many Spaniards Feel Stretched

Spain's central bank raised its outlook on Tuesday for economic growth next year, reinforcing the country's position as one of the euro zone's fastest-expanding economies even as higher living costs squeeze household finances. ...

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US Consumer Confidence Deteriorates in December

U.S. consumer confidence deteriorated in December amid deepening anxiety over jobs and income, consistent with economists' expectations for a sharp moderation in consumer spending after it surged in the third quarter. The Confe...

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Japan Plans $189 Billion New Debt Issuance in Next Year's Budget, Draft Shows

Japan plans to issue new government bonds worth around $189 billion to fund a record-size budget for next fiscal year, a draft reviewed by Reuters showed on Wednesday, underscoring the administration's expansionary fiscal policy s...

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US manufacturing production unchanged in November

U.S. factory production was unchanged in November after declining in October as motor vehicle output fell following the expiration of tax credits for electrical vehicles. The flat reading in manufacturing output last month foll...

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US economy expands at a surprisingly strong 4.3% annual rate in the third quarter

The U.S. economy economy expanded at a surprisingly strong 4.3% annual rate in the third quarter as consumer spending, exports and government spending all grew. U.S. gross domestic product from July through September - the econ...

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INDIAN CORPORATE

BP to sell 65% stake in Castrol to Stonepeak for $6 billion

BP has agreed to sell a 65% stake in its Castrol lubricants business to U.S. investment firm Stonepeak for about $6 billion, a significant step in the oil major’s $20 billion divestment plan aimed at cutting debt and boosting retu...

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L&T bags 'significant' electrification order for Mumbai Metro railway project

Larsen & Toubro (L&T) on Wednesday announced that its infrastructure business vertical has won a 'significant' order for electrification for Mumbai metro railway project, awarded by Mumbai Metropolitan Region Development Authority...

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Tata Motors to invest up to Rs 18,000 crore in EV business by FY30

Tata Motors is stepping up investments and expanding its electric vehicle portfolio as it looks to retain a dominant 45–50% share of the EV passenger vehicle market over the rest of the decade. The automaker on Tuesday said it ...

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