Das said that the MPC agreed to leave the policy rate steady at 6.5 percent at its monetary policy meeting. It was the same at the last (April) meeting.

According to government sources, oil marketing companies (OMCs) are expected to reduce prices of petrol and diesel. The companies have shown positive quarterly results and have almost recovered their losses, indicating a return to normalcy.

The expectation for lower fuel prices stems from the fact that OMCs no longer face under-recoveries in petrol and diesel. Additionally, an oil production cut by one of the members of the Organization of the Petroleum Exporting Countries (OPEC) is believed to have minimal impact due to emerging alternative markets.

Zen Technologies surges 10% after winning an order worth Rs 202 crore from Defence Ministry

OpenAI CEO Sam Altman has revealed that the company is not currently training GPT5, the successor to GPT4, stating that there is still much work to be done. Altman emphasizes the need for safety audits and cautions against the rapid advancement of AI technology, addressing concerns raised by researchers and executives.

European manufacturer, Thyssenkrupp AG’s marine arm and Mazagon Dock Shipbuilders Ltd. will jointly build submarines for the Indian navy, signaling India’s efforts to diversify its military equipment sources. The collaboration aims to reduce reliance on Russia and counter China’s assertiveness. Germany supports this move to bolster its strategic partnership with India and supply modern military gear.

Social media giant Meta has launched its ‘Meta Verified’ service in India, extending verification features for Facebook and Instagram accounts. The subscription bundle offers impersonation protection, government ID verification, and account support. Priced at INR 699/month for iOS and Android users, Meta aims to expand access and tap into India’s vast social media market.

Chennai-based cleantech startup Proklean Technologies secures $4M in funding from Raintree Family Office, fueling its R&D efforts and hiring initiatives. The funds will aid the company’s expansion into new markets,

Capillary Technologies bolsters loyalty solutions with the acquisition of Tenerity’s Digital Connect. The Bengaluru-based SaaS startup aims to strengthen its presence in the US and European markets by incorporating Digital Connect’s reward ecosystem. Capillary now offers a comprehensive suite of end-to-end intelligent loyalty solutions, cementing its position as a leader in the industry.

The Union Cabinet has approved a third revival package for BSNL worth Rs 89,047 crore for BSNL, a debt-ridden telecom company in India. The package includes equity infusion for 4G/5G spectrum allotment, increasing BSNL’s authorized capital. The government aims to transform BSNL into a stable telecom service provider focused on providing connectivity in remote parts of the country.

IKIO Lighting’s IPO generates buzz, oversubscribed 3.61 times, with strong investor demand. LED solutions provider seeks to raise Rs 350 crore for debt repayment, new facility setup, and corporate purposes. A diverse customer base and integrated manufacturing infrastructure contribute to investor enthusiasm.

ONGC-controlled MRPL (Mangalore Refinery and Petrochemicals Ltd. ) plans to expand its refinery to increase petrochemical production capacity at a cost of roughly Rs. 470 billion. 

The Rs 76,000-crore ($10 billion) incentive plan for chip-making, as well as the talent pool and skilling programs, play to India’s strengths and highlight the country’s ascent as an industry leader. According to SEMI CEO, it is now or never for India to seize the lead in the semiconductor sector.