News Headlines 3 December 2025: Read Today’s Banking, Finance, Economy, Business News

News Headlines 2 December 2025

OECD Projects India to Remain Fastest-Growing Major Economy with 6.7% Growth in FY2025-26

India is expected to lead global economic growth with a projected GDP rise of 6.7% in FY2025-26, supported by strong private consumption, government infrastructure spending, and easing inflation, according to the OECD. The report notes that investment momentum, declining borrowing costs, and public capital expenditure will drive growth further. While US tariffs may pressure exports, ongoing negotiations could improve trade prospects. The OECD also highlights room for additional monetary easing, steady inflation nearing the 4% target, and the importance of continued public-private investment in infrastructure.

Manufacturing Sector Dominates Foreign Technical Collaborations in India: RBI Data

RBI data shows that nearly 78% of all foreign technical collaborations (FY23–25) were in India’s manufacturing sector, led by machinery and motor vehicles. Japan, the US, and Germany were the top collaborators, with most agreements involving technology transfers and royalty-based payments. The report highlights strong export growth, significant exclusive rights clauses, and increasing foreign participation, especially in motor vehicles, based on 601 FTC agreements reported by 255 Indian entities.

Credit Card Spends Dip 1.1% in October, Festive POS Transactions Surge: Report

Credit card spending slipped 1.1% month-on-month in October to ₹2,142 billion, even as POS transactions jumped due to festive shopping, according to a report. While POS spends grew over 22% MoM, online spending declined sharply. Card volumes and total cards in circulation continued to rise, but higher issuance and slower spending brought down the average spend per transaction and per card. HDFC Bank led both market share gains and new card additions, even as some banks, like IndusInd, saw steep declines in spending per card.

Govt’s Bank of Maharashtra Stake Sale Oversubscribed 4X; Green-Shoe Option Fully Exercised

The Centre’s offer to divest its stake in Bank of Maharashtra saw strong demand, with the non-retail portion oversubscribed 4.07 times on opening day. Due to heavy interest, the government activated the full 1% green-shoe option, raising total divestment to 6% of the bank’s paid-up capital and helping meet minimum public shareholding norms. Retail investors and BoM employees can bid on December 3, while the floor price has been set at ₹54 per share.

Aadhaar Authentications Hit Record 231 Crore in November, Up 8.47% YoY

Aadhaar authentication transactions reached an all-time high of 231 crore in November, rising 8.47% year-on-year and reflecting rapid digital adoption, the government said. Face-based verification saw strong traction, powering nearly 60% of Digital Life Certificates for pensioners, while total face authentications more than doubled from last year. e-KYC usage also surged over 24% YoY to 47 crore transactions. Meanwhile, UIDAI has deactivated over 2 crore Aadhaar numbers of deceased individuals to maintain database integrity and curb identity fraud.

Govt Confirms No Plan to Merge or Disinvest Public Sector Banks; NPAs Hit Record Low

The government told Parliament it is not considering any merger or disinvestment proposals for public sector banks, denying reports of large-scale PSB consolidation. It also highlighted strong improvements in banking health, with gross NPAs falling sharply to 2.51% by June 2025 and slippages dropping to 0.9%. The minister added that recovery efforts on written-off loans continue, and RBI has mandated monthly disclosures of wilful defaulters to ensure transparency.

Over 1,825 MW Rooftop Solar Installed on Govt Buildings Under PM Surya Ghar Scheme

The government informed Parliament that 1,825.62 MW of rooftop solar capacity has been installed across 91,574 government buildings nationwide as part of the PM Surya Ghar Muft Bijli Yojana. Ministries and states have been asked to utilise vacant rooftops for solar panels, though no subsidy is offered since installations are already viable. The scheme provides CFA support only for households and housing societies, with higher aid for special category states. The minister added that there is no plan to increase subsidies further, as India pushes major clean-energy initiatives to expand access and ensure energy justice.

Banks Return Over ₹10,000 Crore in Unclaimed Deposits

India’s banks have returned more than ₹10,000 crore from unclaimed accounts over the last three years. Under the RBI’s DEA Fund Scheme, unclaimed deposits older than 10 years are transferred to a central fund. As of June 2025, Public Sector Banks transferred over ₹58,000 crore and private banks ₹9,000 crore. To help rightful owners reclaim the money, the RBI instructed banks to track account holders, publish unclaimed lists, and assist legal heirs. Through these efforts and a national awareness campaign, PSBs have settled over 22 lakh accounts worth ₹8,460 crore, while private banks settled nearly 11 lakh cases returning close to ₹900 crore, with SBI and ICICI Bank leading the settlements.

₹23,000 Crore Invested Under PLI Scheme for Specialty Steel

The Production-Linked Incentive (PLI) scheme for specialty steel has attracted investments of ₹23,022 crore from approved companies as of October 2025. Launched in July 2021 with a budget of ₹6,322 crore, the scheme aims to boost high-grade steel manufacturing in India. The government is also running pilot projects to promote hydrogen use in steel production under the National Green Hydrogen Mission.

The sector is deregulated, with the government acting mainly as a facilitator through policy support, duty revisions, and recycling frameworks. In November, a third round of the PLI scheme was launched to draw new investments in advanced steel products like super alloys, stainless steel, titanium alloys, and coated steels. Overall, the scheme has commitments worth ₹43,874 crore, expected to create over 30,000 jobs and lead to the production of 14.3 million tonnes of specialty steel.