Union Finance Minister Nirmala Sitharaman emphasized the need for large, world-class banks in India, highlighting the government’s plan to engage with the RBI and banks to achieve this goal. This aligns with the Modi government’s vision of transforming India into a developed nation by 2047.

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Ola Electric faces technology leak allegations

South Korea’s LG Energy Solution has accused Ola Electric of leaking “national core technology” in battery manufacturing. A former LG researcher allegedly transferred pouch-type lithium-ion battery production know-how to Ola Electric, though he claimed he was unaware of its confidential nature.

Tiruppur exporters lose ₹12,000 crore orders due to US tariff

Tamil Nadu’s Tiruppur textile exporters have lost ₹12,000 crore in export orders following new US tariffs from August 27. While production has fallen by 30%, there have been no closures or job losses yet. The real impact is expected in 2026 if tariffs persist.

ED summons Anil Ambani in RCom bank fraud case

The Enforcement Directorate has issued fresh summons for Reliance Group chairman Anil Ambani on November 14 in connection with a ₹2,929-crore bank fraud and money laundering probe involving Reliance Communications and SBI. Ambani had previously been questioned in August.

Kharif prices crash: Most crops sold below MSP in October

Market data shows that nearly all major kharif crops in October sold below minimum support prices, except for paddy and jowar. Limited state intervention means most farmers have not benefited from MSP this season.