Led by electric two-wheelers, the number of electric vehicles (EVs) incentivised under the FAME India scheme Phase-II reached 16,15,080 till March 11, the government said on Tuesday.

While 14,28,009 electric two-wheelers received incentives, 1,64,523 electric three-wheelers and 22,548 electric four-wheelers also received incentives, said Minister of State for Steel and Heavy Industries, Bhupathiraju Srinivasa Varma, in a written reply in the Lok Sabha.

The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme Phase-II was implemented for a period of five years from April 1, 2019, with a total budgetary support of Rs 11,500 crore.

The scheme incentivised the sale of electric vehicles -- e-2Ws, e-3Ws and e-4Ws.

Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year (FY25), its Managing Director and Chief Executive Officer Siddhartha Mohanty said on Tuesday.

However, he did not disclose the name of the company in which LIC is looking to invest. Mohanty said that the discussions are in the final stage.

"We have plans. Discussions are at the final stage. It is a natural choice for LIC to enter the health insurance sector," Mohanty said in his speech at the Global Conference of Actuaries in Mumbai.

He added that "since regulatory approvals take time, I am hopeful that a decision will be taken within this financial year, before March 31".

Global trade and tariff uncertainties could become a catalyst for reforms in India over the medium term and for growth results, the reforms must run deep, an HSBC Research report said on Tuesday.

Potential US tariffs may have already become a catalyst for reforms like lowering import tariffs, opening up to regional FDI, fast-tracking trade deals, and making the Indian rupee more flexible.

"And India does not have to look too far for models to emulate. Its success in services exports has demonstrated the power of moving up the value chain, from basic (call centre services) to high-tech (professional services)," said the report.

India's goods trade deficit narrowed sharply in February to $14.1 billion, from $23 billion in January.

India's automotive sector is expected to witness positive growth in the coming year, driven by supportive government policies and a growing job market, according to a report.

The primary reason behind the growth is the impact of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) scheme, which has been in effect since April 2019.

This policy encourages states to offer financial and non-financial incentives to boost the adoption of electric vehicles (EVs), contributing to the sector’s expansion.

According to data analytics firm GlobalData report, about 24.7 per cent of these cities are likely to experience strong growth in the automotive sector, while 49.5 per cent are expected to see moderate growth.

Cities like Mumbai, Hyderabad, and Pune are among those projected to thrive. On the other hand, about 7.5 per cent of cities may see stagnant growth, while 9.7 per cent and 15.5 per cent could experience moderate and pessimistic declines, respectively.

The Reserve Bank of India (RBI) assured IndusInd Bank depositors of its financial stability following recent speculation about its financial health.

The central bank confirmed that the bank remains well-capitalised and there is no cause for concern among depositors.

"…there is no need for depositors to react to the speculative reports at this juncture," the central bank said in a statement on its website.

It further added that the bank’s financial health remains stable and is being monitored closely by the Reserve Bank.

The Securities and Exchange Board of India (SEBI) has decided to remove the linkage of its digital Management Information System from employee appraisals.

The regulator is now reassessing its performance review methods to bring in a more balanced approach, according to an NDTV Profit report.

An internal circular has been issued regarding these changes. While the SEBI is working on modifying its review process, it will not completely discard the older methods but rather re-evaluate them for improvement, the report said.

The concept of Key Responsibility Areas (KRAs) has been a part of the bSEBI's system for over 20 years. However, like any evolving system, the regulator is now considering changes to make performance assessments more effective.

The Indian automobile industry registered record passenger vehicles sales, which includes cars and SUVs, in February this year along with a strong growth in the three-wheeler segment, according to data from the Society of Indian Automobile Manufacturers (SIAM) released on Thursday.

However, the figures also show that there was a decline in two-wheeler sales during February which was more pronounced in the motorcycle segment while the scooter segment remained more or less flat.

Passenger vehicle sales stood at 3,77,689 units in February this year, which represents a 1.9 per cent increase compared with 3,70,786 units in February 2024. This is the highest-ever sales figure recorded for the month of February.

The data does not include sales figures from luxury car manufacturers such as BMW, Mercedes-Benz, Jaguar Land Rover, and Volvo Auto, SIAM said.

The outlook for India’s housing sector remains promising, driven by budget announcements on PMAY 2.0, urbanisation, transit-oriented development and digitisation, according to the National Housing Bank report on "Trends and Progress of Housing in India 2024" released on Wednesday.

"The housing sector is growing due to government initiatives, stable interest rates, and technology integration," the report states.

Individual housing loans outstanding as of September 30, 2024, stood at Rs 33.53 lakh crore, showing a growth of 14 per cent over the corresponding period of the previous year.

India's industrial growth, based on the Index of Industrial Production (IIP), bounced back to 5 per cent in January this year after slowing to 3.2 per cent in December, according to data released by the Ministry of Statistics on Wednesday.

The data showed that the manufacturing sector, which provides quality jobs for the country’s young graduates passing out of the country’s universities and engineering institutes, recorded a 5.5 per cent growth in January, up from 3.6 per cent in the same month last year.

Investors in India continued to show strong interest in gold Exchange Traded Funds (Gold ETFs), with a net inflow of Rs 1,979.84 crore recorded in February, according to data from the Association of Mutual Funds in India (AMFI) on Wednesday.

This marks the 10th consecutive month of net inflows into gold ETFs, driven by stock market volatility and global economic uncertainty.

The rising gold prices and consistent inflows pushed the total assets under management (AUM) of gold ETFs in India to a record Rs 55,677.25 crore by the end of February.

In comparison, the AUM stood at Rs 28,529.88 crore in February 2024 and Rs 51,839.39 crore in January 2025.