 "Top headlines: Ola Electric to produce EVs in 2024; SBI hikes MCLR")
SBI hikes MCLR for various tenures by 20 bps; third hike in three months
State Bank of India (SBI) has increased its marginal cost of funds-based lending rate (MCLR) by 20 basis points (bps) across tenors from August 15, announcing the decision after the monetary policy committee (MPC) raised benchmark policy rates by 50 bps earlier this month to tame headline inflation. SBI’s overnight, one-month, and three-month MCLR stands at 7.35 per cent; six-month is at 7.65 per cent; one-year at 7.70 per cent; two-year at 7.90 per cent; and three-year MCLR stands at 8 per cent, according to its website. Read more
Covid intranasal vaccine Phase III trials over, proven safe: Bharat Biotech
Bharat Biotech International Limited (BBIL) on Monday said its COVID-19 intranasal vaccine (BBV154) has proven to be safe, well-tolerated, and immunogenic in subjects in controlled clinical trials phase III. The vaccine candidate was evaluated earlier in phase I and II clinical trials with successful results. BBV154 has been specifically formulated to allow intranasal delivery. Read more
Ola Electric to produce EVs in India in 2024 with 500 km range, says CEO
SoftBank Group-backed Ola Electric will produce electric cars in India in 2024 with a range of up to 500 km, Chief Executive Bhavish Aggarwal said on Monday. Ola's electric car with the most advanced features would go from 0 to 100 km per hour in four seconds, he said. "This is the most ambitious car project ever undertaken in India," Aggarwal said while announcing the plans at a virtual event coinciding with India's Independence Day. Read more
World shares mostly higher after China cuts key rate on gloomy eco data
World shares were mostly higher early on Monday after China's central bank cut a key interest rate and Japan reported its economy picked up momentum in the last quarter. US futures edged lower and oil prices fell more than USD 2. Paris, Frankfurt, Tokyo and Sydney advanced while Hong Kong and Shanghai fell. Read more
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →Subscribe to Business Standard digital and get complimentary access to The New York Times
Quarterly Starter
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
Save 46%
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%