Here is today’s business news, Latest business news India today 2nd May 2022.

• NTPC has solicited offers from start-ups in India to produce torrefied biomass pellets that are well suited for small users.
• HDFC Bank’s retail benchmark interest rates increased by 5 basis points effective May 1, 2022.

• Hyundai Motor India Ltd’s total sales fell 5% from 59,203 units last year to 56,201 units in April 2022.
• ISMC, an international semiconductor consortium, intends to invest around US$3 billion in a semiconductor chip manufacturing factory in Karnataka.

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• According to the Department of Commerce, pharmaceutical exports have reached Rs 1,83.422 crore in 2021-22 compared to Rs 90,415 crore in 2013-14.
• GST revenue collection has hit an all-time high of Rs.168 crore in April 2022 on improved compliance and business activity recovery.
• Khadi’s sales increased by 43% to total Rs.5,052 crore in the last FY, mainly driven by sales of cotton fabrics and garments.

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• Jet fuel prices were raised in Delhi by 3.22% or Rs 3,649.13 per kiloliter to Rs 1,16,851.46 kiloliters.
• Yes Bank reported a net profit of Rs 1,066 crore for the fiscal year ended 31 March 2022, making it the first full annual profit since fiscal 2019.
• Educomp Solution Ltd has been charged along with others by CBI in fraud at Jammu and Kashmir Bank for Rs 360.30 crore fraud.
• IDFC First Bank has reported net profit with a double increase to Rs 3.43 crore for the fourth quarter ended March 2022 compared to net profit of Rs 1.28 crore in the previous financial year.

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