The State Bank of India (SBI) has announced two new deposit schemes, 'Har Ghar Lakhpati' and 'SBI Patrons', to provide greater financial flexibility and better value to its customers.

SBI has a market share of about 23 per cent in deposits. With these offerings, the bank said it is committed to prioritise innovation and further empower people.

‘Har Ghar Lakhpati' is a pre-calculated recurring deposit scheme designed for customers to deposit Rs 1,00,000 and its multiples.

With this product, customers can focus on planning and saving to achieve their financial goals.

This scheme has also been introduced for the age group below 18 years, so that this class can also work on their financial planning and savings plans from an early age.

It was a volatile week for the Indian stock markets as investors shifted towards a multi-asset strategy amid geo-political uncertainties, with Donald Trump’s impending return as the 47th US President.

The domestic benchmark indices concluded the week with a pessimistic note as a sell-on-rally sentiment prevails in the market due to a strong US dollar and high valuation, according to market experts.

After a strong pullback, benchmark indices took a breather on Friday, with the Nifty index closing on a negative note at 24,005. The volatility index, India VIX, cooled by 1.43 per cent to 13.54, reflecting reduced market volatility.

“As long as the index maintains above 23,900, a buy-on-dips strategy is recommended for Nifty,” said Hrishikesh Yedve of Asit C Mehta Investment Interrmediates Ltd.

Sensex ended at 79,223.11, down by 720.60 points or 0.90 per cent, on Friday.

Hyundai Motor, South Korea's leading automaker, said on Friday its annual sales slipped 1.8 per cent from a year earlier in 2024 due mainly to a decline in domestic demand.

Hyundai Motor sold 4,141,791 units last year, down from 4,216,898 units sold the previous year, the company said in a press release.

Domestic sales fell 7.5 per cent on-year to 705,010 units, while overseas sales edged down 0.5 per cent to 3,436,781 units, reports news agency.

The Indian stock market witnessed an initial public offering (IPO) boom in 2024 as compared to any other global stock exchange, with the National Stock Exchange's (NSE) Rs 1.67 lakh crore ($19.5 billion) capital raised through them becoming the highest in the world, according to a report by the exchange on Friday.

The 268 successful IPOs across mainboard (90) and SME (178) raised Rs 1.67 lakh crore, and were also the highest number of IPOs within Asia.

The 268 IPOs are also the highest figure of public issues recorded ever in India, demonstrating the growing confidence of investors in the capital markets.

It includes the largest IPO in India and the second largest IPO globally of $3.3 billion of Hyundai Motor India Ltd (HMIL).

India’s smartphone market is projected to cross $50 billion in value by 2025, driven by the ongoing trend of premiumisation and thrust on local manufacturing, a report showed on Friday.

The retail average selling price (ASP) of India’s smartphone market is expected to cross the $300 mark for the first time this year, according to latest research from Counterpoint’s ‘India Smartphone Outlook’.

Apple and Samsung are leading this shift by offering competitive options in the premium and ultra-premium segments.

Apple is expected to see strong demand for its Pro models, driven by local manufacturing and recent price reductions across its iPhone lineup.

Meanwhile, Samsung’s value-focused strategy is gaining traction, particularly with its flagship S series. OnePlus, with the launch of its flagship OnePlus 13, is aiming to increase its share in the ultra-premium segment (above Rs 45,000), the report mentioned.

The total cargo volume of Adani Ports and Special Economic Zone Limited (APSEZ) grew 8 per cent (year-on-year) to 38.4 million metric tonnes (MMT) in December 2024.

The company's container volume grew 22 per cent and liquids and gas volume grew 7 per cent on YoY basis in the last month. APSEZ is the country's largest private port operator.

Adani Ports had handled a total of 36 million metric tonnes of cargo in November, driven by higher container volumes.

On a month-on-month basis, the total cargo volume saw 6.6 per cent growth.

Employment generation across the agriculture, manufacturing, and services sectors saw a significant increase during Prime Minister Narendra Modi's tenure in the last 10 years compared to the preceding decade under the Congress-led UPA government, according to figures compiled by the Reserve Bank of India.

The figures show that under PM Modi's tenure between 2014 and 2024, 17.9 crore additional jobs have been created, compared to 2.9 crore jobs during the UPA regime between 2004 and 2014.

Employment during the Modi government has jumped by 36 per cent compared with just 6 per cent during the UPA regime.

The data show that during 2023-24, 4.6 crore jobs were created and the total number of people employed in the country rose from 596.7 million in 2022-23 to 643.3 million in the financial year ended on March 31, 2024.

The housing sector in the country is expected to contribute 13 per cent to the national GDP by 2025, reflecting its resilience and potential, according to a report on Friday.

Projected to grow into a $1-trillion market by 2030, the sector is evolving in response to demographic shifts, policy reforms, and global trends, according to the report by JLL, a leading global commercial real estate and investment management company.

Tier 2 and 3 cities are emerging as pivotal growth hubs, with smaller urban centres like Jaipur, Indore and Kochi driving more than 40 per cent of new housing developments by 2025.

The urban homeownership rate is set to increase to 72 per cent by 2025, up from 65 per cent in 2020, supported by affordable financing options and a younger demographic entering the housing market.

A total of 16.15 lakh electric vehicles (EVs) have been incentivised under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India)-II scheme, the government said on Thursday.

It includes 14.27 lakh electric two-wheelers (e-2Ws), 1.59 lakh e-3Ws, 22,548 e-4Ws and 5,131 e-buses.

Additionally, 10,985 EV public charging stations (PCS) have been sanctioned, with 8,812 allocated for installation.

As of October 31, 2024, a total of Rs 8,844 crore has been spent, including Rs 6,577 crore for subsidies, Rs 2,244 crore for capital assets, and Rs 23 crore for other expenses, according to Ministry of Heavy Industries.

The scheme includes a phased manufacturing program and has supported significant policy initiatives, such as reducing GST on EVs and enabling state EV policies, contributing to India’s transition to sustainable mobility.

As 2025 begins on a note of heightened global uncertainties ahead of the US President-elect Donald Trump’s inauguration, India continues to be in a much stronger position with high frequency indicators showing a pick up in the pace of growth in the third quarter of current fiscal (Q3 FY25), according to a report on Thursday.

GST collections, services purchasing managers' index (PMI), air passenger growth, and vehicle registrations saw a notable improvement in Q3 versus Q2, according to a Bank of Baroda (BoB) report.

On the other hand, in China, while the manufacturing sector is expanding slowly, lifting domestic consumption and reviving the real estate sector is proving to be a task for the administration.

The US economy is giving mixed signals regarding growth. While the labour market appears to be softening and manufacturing activity is weak, retail sales, pending home sales, and the service sector seem to be doing well. In Europe, manufacturing activity is unable to pick up pace so far, while the service sector is regaining ground.