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Inflation after breaching the upper tolerance band of 6%, is probably accelerating due to a sustained surge in food prices, mostly due to disruptions caused by the war, necessitating a quick response from the central bank. Furthermore, the ban of export of palm oil by Indonesia came as a bolt from the blue. The hot climatic conditions across the world is likely to reduce farm output that may further accentuate price pressures.

Bank of Russia and the Reserve Bank of India are examining how to make this workable and at the same time comply with international sanctions. “Officials of the two central banks have met twice and continue to be in talks, although the final decision has not been reached,” one of the persons told ET on condition of anonymity.

“We are going to work on and keep identifying sectors more amenable for electrification in the commercial vehicle segment. We will keep technology, vehicle architecture and aggregates ready and launch products for multiple applications going ahead,” executive director Girish Wagh said, adding: “The proportion of capex investments for electrifying commercial vehicles will only increase.”

The pledge included the entire investments of FLF in entities held by its wholly owned subsidiary FLFL Athleisure, associate firm FLBL, joint venture company Clarks Reliance Footwear and two investee companies - SSIPL Retail and Holii Accessories, it said in a regulatory filing.

This is part of a unique acquisition and financing structure the Ahmedabad-based conglomerate is putting in place for the potential $7.5-billion buyout of the two listed cement companies, cumulatively the second largest in India that ranks next only to China in both global output and consumption.

Other lenders are expected to follow suit, likely trimming disposable incomes of borrowers and thereby dampening demand for non-discretionary goods.

The EV business, along with its manufacturing plant in Pune, will be clubbed with Italian design house Automobili Pininfarina to form a company, the people said. The group is also exploring raising funds for the EV entity.

RIL will report its results for the March-ended quarter on Friday. According to a Bloomberg poll, it is expected to post a consolidated net profit of ₹16,819.7 crore on net sales of ₹2.15 lakh crore.

​​The NCLT admitted Indian Steel last October at the behest of India Resurgence Asset Reconstruction Company, which is backed by Bain Capital and Piramal Enterprises.

New-age logistics firm’s Rs 5,235-crore issue will be the first major startup IPO since tech markets became volatile following an unprecedented bull run in 2021