Past News

AIIMS-New Delhi faces 2nd cyber threat within a year

The premier medical institute detected the malware attack at around 2:50 PM on 6th June 2023, which was neutralised by their digital security provisions.

By Sajhyadri | June 07, 2023 06:10 PM Read more
World Bank slashes India’s growth outlook, raises global forecast

In its latest Global Economic Prospects report, the bank reduced India’s growth outlook to 6.3% and stated that global growth could slow down to 2.1% during 2023.

By Aadeesh | June 07, 2023 05:17 PM Read more
Gujarat: Home loan disbursals jumped 60% to ₹42,048 Cr in FY23

In the last fiscal, the number of home loan beneficiaries shot up by 56% YoY to 4.26 lakh homebuyers as well. The same stood at about 2.73 lakh individuals in FY22.

By Shivani | June 07, 2023 04:50 PM Read more
India to boast a $1 Tn digital economy by 2030: Report

The study, titled ‘The e-Conomy of a Billion Connected Indians’, stated that this economic growth will also account for around 12-13% of the country’s GDP.

By Sajhyadri | June 07, 2023 04:50 PM Read more
LinkedIn rolls out Aadhaar verification feature in India

In case an individual does not own a valid Aadhaar number, they can opt for other verification methods by using their workplace credentials or work email address instead.

By Chanel | June 07, 2023 04:08 PM Read more
SBI to integrate sustainable lending framework

The public sector bank is looking to implement environment-driven financial risks in its overall strategy of risk management for the ongoing fiscal, as mentioned by Dinesh Khara, its Chairman.

By Aadeesh | June 07, 2023 04:03 PM Read more
Indian banks report viable credit growth despite RBI’s aggressive repo rate hikes

In April 2023, banks’ lending rate surged to 15.9%, up from March’s figure of 15%, despite RBI’s cumulative repo rate hike of 250 bps, which happened over the course of multiple revisions in FY23.

By Shivani | June 07, 2023 03:46 PM Read more
IND vs AUS: Disney Star onboards slew of sponsors for historic clash

The media firm said that TV channels under Star Sports Network India have added 15 sponsors, while its OTT platform, Disney+ Hotstar, has secured 13 sponsors.

By Sajhyadri | June 07, 2023 03:05 PM Read more
Apple acquires AR startup firm Mira post Vision Pro launch

With this move, the tech company is firmly venturing into the AR segment and will go against Meta Platforms’ Quest Pro series of headsets.

By Aadeesh | June 07, 2023 02:50 PM Read more
Hiring sentiment takes a hit; Firms resort to layoffs

The hiring sentiment across multiple sectors, including India’s mobile phone segment, is being affected by certain headwinds. Along the same line, firms like Reddit slashed their workforces.

By Shivani | June 07, 2023 02:14 PM Read more
Over 28,000 J&K Government employees filed fake ITRs in FY21 & FY22

The Income Tax Department filed an FIR against the alleged culprits and shared the names, addresses, bank account and PAN details with Crime Branch officials.

By Sajhyadri | June 07, 2023 01:30 PM Read more
CleverTap launches Retention Accelerator programme for startups

It has been developed to provide early-stage ventures access to the firm’s full-stack retention platform with benefits of about $100,000 (around ₹82.53 Lakhs) for free.

By Aadeesh | June 07, 2023 01:21 PM Read more
RBI holds 5th customer service norms review for banks

The committee recommended measures including the easier release of pledged assets, mis-selling audits, and a facility for pensioners to submit life certificates at any bank branch.

By Chanel | June 07, 2023 12:57 PM Read more
Indian product engineering companies log strong revenues amidst IT slowdown

In FY23, KPIT Technologies Ltd., Cyient India Limited, and Tata Elxsi Limited, among others, witnessed their revenues tick up by 36.7%, 30.2%, and 24.9%, respectively.

By Shivani | June 07, 2023 12:47 PM Read more
Revenue dept. to widen personal income tax base via data red flags

A senior official has disclosed that the revenue department is expanding the Personal Income Tax (PIT) base by utilising data to bridge compliance gaps and leakages.

By Chanel | June 07, 2023 09:50 AM Read more
ONDC commences B2B transactions

Two startups, Rapidor and Signcatch, have become a part of the ONDC network and have completed about 160 test B2B transactions between themselves, last week.

By Aadeesh | June 07, 2023 09:44 AM Read more
Morgan Stanley: Sensex likely to surge by 10% to around 68,500 by 2023-end

This projection was made considering that India logs viable domestic growth, the US economy doesn’t slip into a recession, and the government’s policies remain supportive.

By Shivani | June 07, 2023 09:43 AM Read more
SBI to boost AI/ML use via Data Lake & NextGen Data Warehouse

The public sector bank said that it will also explore new collaborations with Non-Banking Financial Companies and fintech firms for co-lending ventures.

By Sajhyadri | June 07, 2023 09:40 AM Read more
India’s ESG-based jobs surge by 223% since 2019: Survey

According to the employment portal Indeed, this rise over the last three years highlights how companies are ramping up their priority on sustainability efforts.

By Sajhyadri | June 06, 2023 05:50 PM Read more
Gold, Silver prices remain tepid amidst rate-pause anticipations

MCX gold prices opened at ₹59,869/10 grams but fell to an intraday low of ₹59,813, and an intraday loss of about 0.10%. Similarly, Silver rates opened at ₹71,971/kg on MCX and hit an intraday low of ₹71,951.

By Aadeesh | June 06, 2023 05:26 PM Read more
Spotify to lay off 200 employees from podcast business

The music-streaming giant plans to restructure its business. Moreover, it will merge its subsidiaries, Gimlet Media Inc. and Cutler Media, LLC (Parcast) into a single division.

By Sajhyadri | June 06, 2023 05:05 PM Read more
DS Group acquires LuvIt Chocolate & Confectionery’s parent firm

This move is anticipated to improve the group’s confectionary portfolio, which it joined in 2012. The Good Stuff, LuvIt’s parent, was previously owned by Mitsui Ventures and Goldman Sachs.

By Aadeesh | June 06, 2023 04:44 PM Read more
Bajaj Finance inks MoU with Maruti Suzuki to offer auto retail financing solutions

On 5th June 2023, Bajaj Finance Ltd. signed a Memorandum of Understanding with Maruti Suzuki India Limited, to boost consumers’ financial flexibility and enhance their car purchase experiences.

By Shivani | June 06, 2023 04:42 PM Read more
RBI to initiate auction for ₹75,000 Cr variable rate reverse repo

The upcoming auction by the central bank marks the third consecutive one announced by it in the past three days, which will occur between 12:30 PM and 1 PM, while the funds’ reversal will be held on June 9.

By Aadeesh | June 06, 2023 04:37 PM Read more
Karnataka CM: ‘200 units of free power will be provided to all domestic consumers’

Shri. Siddaramaiah recently stated that, under the ‘Gruha Jyoti’ programme, free power will be provided to all citizens of the state, including those living in rented properties.

By Shivani | June 06, 2023 04:07 PM Read more
Customers asked to resubmit updated locker agreement: SBI

The public sector bank said that this will apply to those who submitted the formerly changed agreement for their bank locker on or before 31st December 2022.

By Sajhyadri | June 06, 2023 04:05 PM Read more
Debt-ridden MTNL may shut down & move ops to BSNL

The Centre might close Mahanagar Telephone Nigam Limited and shift its operations and employees to Bharat Sanchar Nigam Limited, as per official sources.

By Sajhyadri | June 06, 2023 03:20 PM Read more
Aditya Birla Group debuts in the branded jewellery retail segment

The group revealed that the new arm, Novel Jewels Ltd., will work towards establishing large-format jewellery retail stores across India and offer in-house brands.

By Shivani | June 06, 2023 02:49 PM Read more
NSE to change Nifty Bank F&O expiry to Friday

This will come into effect from July 14 onwards. The earlier expiry was set to Thursday. However, if Friday happens to be a holiday, then the previous working day shall be considered.

By Aadeesh | June 06, 2023 02:26 PM Read more
SBI Cards & Payment Services to raise up to ₹3,000 Cr via NCDs

On 5th June 2023, SBI Cards and Payment Services Ltd.’s board gave its approval to raise capital via Non-Convertible Debentures (NCDs) through multiple tranches.

By Shivani | June 06, 2023 01:58 PM Read more
Bajaj Finserv launches new mutual fund business

A press release from the firm stated that Bajaj Finserv Asset Management Ltd. will include different categories of equity, hybrid, and fixed income tools.

By Sajhyadri | June 06, 2023 01:50 PM Read more
Avoid physical visits to branches: RBI Committee to banks

A report by the Committee for Review of Customer Service Standards under RBI’s Regulated Entities (REs) mentioned that Faceless / Straight Through Processes’ (STPs) could be implemented for closing accounts and more.

By Aadeesh | June 06, 2023 01:47 PM Read more
SIDBI’s ₹300 Cr fund fails to attract investors’ attention

Multiple Non-Banking Financial Companies-Micro Finance Institutions (NBFC-MFIs) spotted certain clauses in the India Microfinance Equity Fund, which they deem to be quite inflexible.

By Shivani | June 06, 2023 01:20 PM Read more
RBI Governor rolls out financial inclusion platform ‘Antardrishti’

This would provide the necessary knowledge and insight for tracking and evaluating the development of India’s financial inclusion, as per RBI’s statement.

By Sajhyadri | June 06, 2023 12:55 PM Read more
Virgin Atlantic plans expansion in India with new daily fights

The airline’s upcoming launch of its new daily flights between Bengaluru and London Heathrow will help develop its international network and connectivity further in India.

By Aadeesh | June 06, 2023 12:50 PM Read more
FADA Report: Auto retail sales surged by over 10% YoY in May

According to a report by the Federation of Automobile Dealers Associations (FADA), two-wheeler and passenger vehicle registrations soared by 9% and 4%, respectively, too.

By Shivani | June 06, 2023 12:36 PM Read more
SBI Life fast tracks claim process for Odisha train tragedy victims

The insurer stated in a press release that it has also simplified the documentation procedure to ensure that the affected persons get rapid financial support.

By Sajhyadri | June 06, 2023 12:20 PM Read more
BoB looking to cut stake worth ₹661 Cr in NSE

The public sector bank is planning to auction 0.42% of its stake in NSE at ₹3,150 per share, despite the exchange’s anticipated public listing currently awaiting a ruling by the Supreme Court.

By Aadeesh | June 06, 2023 12:08 PM Read more
Waiting time for hybrid vehicles increases amidst surging demand

The waiting time for Multi-Purpose Vehicles such as Toyota Hycross, Maruti Suzuki Grand Vitara, and Honda City’s hybrid variant, has now extended up to two years.

By Shivani | June 06, 2023 11:34 AM Read more
AI, EV and semiconductors preferred by VCs amidst slow funding

This change in preferences has come at a time when funding has been affected due to the heavy cash-consuming business models implemented by fintech and consumer-tech spaces.

By Aadeesh | June 06, 2023 11:23 AM Read more
Go First plans to resume services with 22 planes for 5 months

The airline has applied to the Directorate General of Civil Aviation to approve this plan for restarting operations, which would see it run 152 daily flights.

By Sajhyadri | June 06, 2023 11:20 AM Read more
ONDC introduces B2B e-commerce on government-funded network

ONDC’s new rollout comes with features such as delivery scheduling, bulk order purchasing, dynamic pricing, and embedded financing services in the form of B2B credit.

By Shivani | June 06, 2023 11:00 AM Read more
GenWise secures $3.5 Mn in seed funding round

The lifestyle app for elderly citizens secured this capital from firms like Matrix Partners India, Climber Capital, DBR Ventures LLP, and other angel investors.

By Sajhyadri | June 06, 2023 10:40 AM Read more
RBI panel recommends several customer-oriented initiatives for banks

Some of these include online claims’ settlement, flexibility in life certificate submissions by pensioners, and a centralised KYC database, among others.

By Aadeesh | June 06, 2023 10:21 AM Read more
EPFO mulls over boosting equity investments

The organisation is likely to contact the Finance Ministry to obtain a go-ahead for investing in exchange-traded funds across permissible asset classes, to amplify its returns.

By Shivani | June 06, 2023 10:05 AM Read more
IPL ad spends fell YoY by 20%: CEO of Viacom18 Sports

Anil Jayaraj said that Viacom18 had met its targets to reach 55 crore viewers and attract ad revenue worth ₹3,700 Crores during this season of the IPL.

By Sajhyadri | June 05, 2023 05:50 PM Read more
Indian hotels set to note strong revenue growth in FY24

Such firms are set to capitalize on positive market conditions and various high-profile events such as the ICC Cricket Men’s World Cup and the G20 summit.

By Sajhyadri | June 05, 2023 05:10 PM Read more
Gmail bug: Scammers could bypass security check

Chris Plummer, Security Architect at Dartmouth Health, uncovered a bug in Gmail that fakes Google’s stamp of approval, convincing end users of the wrong email addresses’ authenticity.

By Aadeesh | June 05, 2023 05:08 PM Read more
IATA: Global airline industry projected to log net profit of $9.8 Bn

The industry has transitioned into becoming profitable and is projected to bag inflows of about ₹66.37 Lakh Crores. This is a cumulative forecast for over 300 airlines.

By Shivani | June 05, 2023 05:07 PM Read more
Adani Group, Reliance Foundation pledge support to Odisha train accident victims

Billionaire, Gautam Adani and, ex-cricketer, Virender Sehwag promised free education to the children of the families affected by the deadly train collision.

By Sajhyadri | June 05, 2023 04:20 PM Read more
Tata Motors to launch new CNG, electric car models soon

These product rollouts are against the backdrop of an industrial slowdown, which is expected to grow by 5-7%. The same is a de-escalation when compared to FY23’s projection of 27%.

By Shivani | June 05, 2023 04:11 PM Read more
BYJU’s to launch IPO for Aakash next year

The edtech startup mentioned that Aakash’s revenue is on track to reach ₹4,000 Crores with an EBITDA of ₹900 Crores in FY24. It has also obtained a sanction for an IPO from BYJU’s board.

By Aadeesh | June 05, 2023 03:59 PM Read more
Brookfield India aims to raise over $400 Mn via equities by July

The Indian Real Estate Investment Trust (REIT) informed domestic exchanges that it plans to raise this sum to acquire the Indian offices of GIC Pvt. Ltd.

By Sajhyadri | June 05, 2023 03:35 PM Read more
Tata Digital revamps its app, eyes greater inflows

The modifications of ‘Tata Neu’, which were completed just in time for the Indian Premier League, have contributed to a sudden business surge, revealed CEO Pratik Pal.

By Shivani | June 05, 2023 03:32 PM Read more
RBI may pause repo rates again this week: SBI Research

An announcement regarding the same will be made by the Shaktikanta Das-led Monetary Policy Committee (MPC) on 8th June 2023, following the three-day long meeting.

By Aadeesh | June 05, 2023 03:03 PM Read more
India Inc strives to boost its LGBTQIA+ talent pool

Organisations like Axis Bank, Capgemini and NatWest Group, among others, have rolled out initiatives to boost inclusivity in their office spaces.

By Shivani | June 05, 2023 02:23 PM Read more
Consumer goods’ orders rise, brands place large bets on festive season

Many firms commence their stock planning for the festive season during the May-June period, and place orders so that production can begin in June. Marketers are positive about a revival in discretionary spending.

By Aadeesh | June 05, 2023 02:12 PM Read more
Wipro shares on a high after buyback announcement

The IT firm’s stock was trading at ₹405 at around 10:00 AM on 5th June 2023, after opening at ₹408, against its previous closing price of ₹ 404.95 per share.

By Sajhyadri | June 05, 2023 01:45 PM Read more
BYJU’S faces big deadline; Required to pay $40 Mn instalment

The edtech firm needs to pay this instalment for its largest unrated loan of $1.2 Billion (about ₹9,912 Crores) on 5th June 2023. Failure to pay the same will be considered a breach of contract.

By Shivani | June 05, 2023 01:42 PM Read more
Malicious spyware detected in over 100 Google Play apps

The malware, ‘Android.Spy.SpinOk’, has been embedded into different kinds of apps by developers. It has been designed to retain users’ interest via mini-games, tasks, prizes and rewards.

By Aadeesh | June 05, 2023 01:22 PM Read more
Nifty Auto crosses 14,500-milestone for the first time

The domestic index hit a record of 14,530.8 on 5th June 2023, mainly spurred by improvements in the supply of semiconductor chips and strong monthly sales.

By Sajhyadri | June 05, 2023 01:05 PM Read more
IRDAI instructs insurers to settle Odisha train accident claims

These insurance firms have also been asked to immediately contact the authorities and compile a list of all civilians who lost their lives or were injured during the accident.

By Shivani | June 05, 2023 12:39 PM Read more
India’s IT sector hiring declined to 3-year low in May

This was in addition to lesser client acquisition at certain big service exporters in India, which reduced the biggest global outsourcing hub by 22%.

By Aadeesh | June 05, 2023 12:34 PM Read more
Brigade to start 10 new realty projects worth ₹3,000 Cr in FY24

Pavitra Shankar, the firm’s MD said that they want to encash on the rising residential properties’ demand and hope to grow housing sales by 15-20% this fiscal.

By Sajhyadri | June 05, 2023 12:15 PM Read more
Bajaj Finserv to expand operations in Pune, initiate projects of ₹5,000 Cr

On 4th June 2023, Bajaj Finserv Ltd. signed a Memorandum of Understanding with the Maharashtra government. The undertaking is likely to create about 40,000 jobs in the city.

By Shivani | June 05, 2023 11:59 AM Read more
Recycling business may be worth $20 Billion by 2030: Avendus Capital

The ‘Circular Economy: Recycling Waste to Wealth’ report mentioned that there is an immediate need to implement policies that ensure natural resources’ conservation and more.

By Aadeesh | June 05, 2023 11:57 AM Read more
S. M. Malde becomes oldest applicant to pass MahaRERA exam

The 74-year-old real estate agent managed to secure 75% in the exam. He mainly attempted the exam to gain recognition from RERA and continue his business for a few more years.

By Aadeesh | June 05, 2023 11:23 AM Read more
Mobile shipments slump hits sector-wide hiring

A recent report from Counterpoint showed that India’s smartphone shipments dropped YoY by 19% during the first quarter of 2023 from the year-ago period.

By Sajhyadri | June 05, 2023 11:20 AM Read more
IndiGo to place historic order for 500 Airbus aeroplanes

This order comes about during a time when the airline is yet to receive yet another 500 jets from Airbus, out of its total order of 830 Airbus A320-family jets.

By Shivani | June 05, 2023 11:02 AM Read more
Walmart cuts stake in PhonePe from 89% to 85%

This was after the Indian startup sold new shares as part of its plan to raise funds worth $1 Billion (about ₹8,252 Crores) from Tiger Global, General Atlantic, and Ribbit Capital, among others.

By Sajhyadri | June 05, 2023 10:45 AM Read more
Infosys CEO’s salary fell by 21% to ₹56.44 Crores in FY23

In FY22, the CEO’s salary had been ₹71.02 Crores, as per the report. Additionally, Infosys' Median Remuneration of Employees (MRE) for FY23 grew to around ₹9 Lakhs.

By Aadeesh | June 05, 2023 10:27 AM Read more
Lufthansa looks to build strong commercial partnership with Air India

Deutsche Lufthansa AG’s CEO stated that the two airlines plan to roll out a joint venture servicing the India-Frankfurt route, the revenues of which will be split equally.

By Shivani | June 05, 2023 10:24 AM Read more
‘MotoGP Bharat’ to start soon, tickets cost ₹800 to ₹1.5 Lakhs

The historic Indian version of the motorsport event will be held at the Buddh International Circuit (BIC) in Greater Noida, from 22nd to 24th September 2023.

By Sajhyadri | June 02, 2023 06:25 PM Read more
Weekly Markets: Bulls roar as Sensex soars by 118.57 pts

Indian indices continued their positive momentum from the opening bell, on 2nd June 2023, and ended the session higher with Sensex settling at 62,547.11 and Nifty closing at 18,534.10.

By Chanel | June 02, 2023 05:43 PM Read more
L&T to develop energy infra for world’s biggest hydrogen plant

The plant is being developed by NEOM Green Hydrogen Company (NGHC), which is a balanced joint venture between NEOM, Air Products, and AWCA Power.

By Aadeesh | June 02, 2023 05:27 PM Read more
Microsoft to train Indian students in AI & digital courses

The tech giant has collaborated with the Ministry of Skills Development and Entrepreneurship to help skill 6,000 students in government-run institutions.

By Sajhyadri | June 02, 2023 05:20 PM Read more
Indigo begins its abroad expansion plans

Central Asia and Africa are two new additions to the airline. It also plans to connect Indonesia, Nairobi, Jakarta, and Kenya, with Mumbai via direct flights in late July or early August.

By Aadeesh | June 02, 2023 04:53 PM Read more
IDBI Bank’s buyer to enjoy tax waiver on LIC’s stake

The amendment exempts the buyer from paying taxes on notional gains, especially if the market value of LIC’s shares is greater than the price finalised via competitive bidding.

By Shivani | June 02, 2023 02:55 PM Read more
Google leads Pixxel’s Series B funding round with $36 Mn

This is considered to be a part of Google CEO, Sundar Pichai’s commitment to investing $300 Million (around ₹247 Crores) in locally developed startups.

By Aadeesh | June 02, 2023 02:31 PM Read more
S&P Global Ratings: Reliance’s operating performance likely to stay resilient

The S&P Global Ratings report also stated that Reliance Industries Limited’s growing penetration in the retail and digital segments will pave the way for enhanced revenues.

By Shivani | June 02, 2023 02:19 PM Read more
GeekLurn MD arrested for defrauding over 1,800 students

The edtech firm’s executives allegedly took education loans in the students’ names but siphoned off the sanctioned money, estimated to be worth around ₹18 Crores.

By Sajhyadri | June 02, 2023 02:05 PM Read more
Aditya Birla Group to invest ₹1,250 Crores in financial services vertical

On Thursday, 1st June 2023, Aditya Birla Capital Ltd’s board permitted a preferential issuance of this amount to its promoter group entity and promotor, as per a statement by the company.

By Aadeesh | June 02, 2023 01:35 PM Read more
TVS, Ola, & Ather hike their e-scooter prices from June 1

This surge is due to the reduced benefits of the 2nd phase of the subsidy scheme, Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II).

By Sajhyadri | June 02, 2023 01:30 PM Read more
Maruti Suzuki’s sales rise by 10% in May

The automaker’s overall wholesales increased to 1.78 lakh units in May. It also sold 1.61 lakh vehicles that month, while its domestic sales grew by 13% to 1.51 lakh units.

By Aadeesh | June 02, 2023 12:43 PM Read more
360 ONE WAM raises private credit fund worth ₹2,130 Cr

The asset management firm received this amount in its 4th funding round of this category, which is over twice as large as its earlier fund of ₹1,000 Crores.

By Sajhyadri | June 02, 2023 12:20 PM Read more
UAE cancels 10-day grace period on visa expiry

This means that tourists’ stay duration can now only be up to 30-60 days, based on the visa type. Additionally, those overstaying in the country will be fined DH50 (around ₹1,120) each day.

By Aadeesh | June 02, 2023 11:55 AM Read more
India Inc. to support new mothers returning to work

Some common measures taken by firms include establishing creche subsidies, flexible work options, nursing rooms, employee resource groups, onsite childcare, designated parking spots, etc.

By Shivani | June 02, 2023 11:34 AM Read more
SEBI considering additional disclosures for high-risk FPIs

The markets regulator is planning this to allow for enhanced transparency within Indian capital markets and to prevent potential circumvention of Minimum Public Shareholding (MPS) requirements.

By Aadeesh | June 02, 2023 11:22 AM Read more
UPI sets new record of 900 Cr transactions in May: NPCI

The National Payments Corporation of India revealed this on Twitter on 1st June 2023, adding that this transaction volume amounted to around ₹14 Lakh Crores.

By Sajhyadri | June 02, 2023 11:20 AM Read more
Centre collected ₹1.7 Lakh Crores worth revenue in April

This amount is split between around ₹1.58 Lakh Crores of taxes, ₹10,958 Crores in non-tax revenue, and ₹642 Crores worth non-debt capital receipts. The Centre’s overall expenditure was ₹3.04 Lakh Crores.

By Aadeesh | June 02, 2023 10:39 AM Read more
BoM Board approves QIP; floor price fixed at ₹29.98 per share

When compared to its closing value of ₹31.34 on 1st June 2023, the floor price for the shares' Qualified Institutional Placement (QIP) shows a discount of 4.33%.

By Shivani | June 02, 2023 10:26 AM Read more
Lack of NPS adoption spurs growth of pension-based startups

While the National Pension System suffers from inadequacy and minimum pension norms, these new firms are offering innovative data-driven pension services.

By Sajhyadri | June 02, 2023 10:25 AM Read more
Tamil Nadu CM: Resume direct flights between Chennai and Tokyo

Shri. M. K. Stalin urged the Union Civil Aviation Minister to increase direct flight connectivity between Singapore to Madurai, too. He also cited the growing Japanese population in Chennai.

By Shivani | June 02, 2023 10:11 AM Read more
BYJU’s creditors pull out of $1.2 Bn loan recasting talks

The discussions were reportedly called off after the edtech) startup’s lenders went to court and accused the firm of hiding gathered funds worth $500 Million.

By Sajhyadri | June 01, 2023 07:10 PM Read more
Kerala HC: Banks shouldn’t deny education loan due to low CIBIL score

The court further directed on 30th May 2023, that banks should undertake a more humanitarian method when examining applications for such lending products.

By Sajhyadri | June 01, 2023 06:10 PM Read more
Akasa Air introduces special ‘Monsoon Bonanza’ sale, offers 10% discount

Running from 30th May 2023 to June 5, the campaign will offer slashed prices on flights covering 16 Indian cities, such as Goa, Mumbai, Delhi, and Pune, among others.

By Shivani | June 01, 2023 05:25 PM Read more
‘Pushpa 2’ crew members injured in bus accident on way to Hyderabad

The private bus, on which the duo was aboard, collided with a state-run bus at Narketpally in Telangana's Nalgonda district, at around 5:30 AM on 31st May 2023.

By Sajhyadri | June 01, 2023 05:20 PM Read more
Online ITR-2 form enabled on e-filing portal for FY23/AY24

Prior to this, the Income Tax Department released the ITR-2 forms in an offline mode on May 17 and released the ITR-1 and ITR-4 forms on 20th May 2023.

By Sajhyadri | June 01, 2023 05:00 PM Read more
Elon Musk becomes world’s richest person again

This has occurred since the shares of LVMH, owned by Bernard Arnault, the previous title-holder, declined sharply during Wednesday, 31st May 2023’s trading session in Paris.

By Aadeesh | June 01, 2023 04:59 PM Read more
74% Indian employees concerned about being replaced by AI

Meanwhile, 83% stated that they are willing to assign most tasks to AI to lower their workload. This was mentioned in Microsoft’s report - ‘Work Trend Index 2023’.

By Aadeesh | June 01, 2023 04:23 PM Read more
Vedanta Resources clears pending dues for Q1FY24

As per the mining firm’s statement, its loan obligations for the quarter amounted to $1.7 Billion. It plans to further reduce its debt burden in this fiscal.

By Sajhyadri | June 01, 2023 04:05 PM Read more
RBI to implement expected loss strategy for bad loan provisioning

This move will permit banks to develop their own credit loss models and disperse the higher provisions for a five-year period under a new system of putting money aside for lending.

By Aadeesh | June 01, 2023 03:33 PM Read more
EV manufacturing plants to require 1.3 crore sq. ft. of land by 2030

This may be complemented by the expansion of factories that need to produce 200 GWh batteries, which will increase the real estate requirement by another 2,400 acres.

By Shivani | June 01, 2023 03:03 PM Read more
Andhra Pradesh Government to increase land rates by 10-30%

In addition, prime areas could see a hike of up to 50%, while those closer to upcoming Special Economic Zones (SEZs) will rise by 75%. The AP government stated that this has been imminent but was delayed due to COVID-19.

By Aadeesh | June 01, 2023 02:48 PM Read more
Commercial LPG cylinders to cost ₹83 less from June 1

Indian Oil announced the news on its official website. However, the firm has not changed the price of domestic LPG cylinders, diesel, or petrol.

By Sajhyadri | June 01, 2023 02:30 PM Read more
Maharashtra: Housing societies to get deemed conveyance in 30 days

Earlier, regulations mandated that the decision to pass such deemed conveyance and land ownership applications be taken after the passage of 6 months.

By Shivani | June 01, 2023 01:43 PM Read more
India Inc’s revenue decelerates in Q4FY23 despite a double-digit rise

Even though operating profitability displayed improvement on a sequential basis, it was still under pressure, as opposed to the year-ago level. 2,863 firms’ revenue grew by 13.4% YoY in Q4FY23.

By Aadeesh | June 01, 2023 01:30 PM Read more
Apple India stores’ gross monthly sales exceeded ₹22-25 Cr each

The Mumbai and Delhi stores' inflows are more than double the highest revenues recorded by any electronics store in India, especially during a non-festive period.

By Shivani | June 01, 2023 12:59 PM Read more
Singapore Airlines to offer free, unlimited Wi-Fi across all cabin classes

In order to be eligible for the service, passengers have to sign up for the airline’s loyalty programme called ‘KrisFlyer’, which comes with no registration charges.

By Shivani | June 01, 2023 12:06 PM Read more
Electric two-wheeler prices to increase by up to 18% from June 1

Due to reduced subsidies under the Centre’s FAME II scheme, several e-scooter and bike makers are planning to hike their product prices in a staggered manner.

By Sajhyadri | June 01, 2023 11:55 AM Read more
Adani to generate $3.5 Bn via share sale in 3 group firms

The fundraising will be done via an equity sale for institutional investors, as part of the firm’s comeback strategy after being impacted by an incriminating report published by a US investment research firm.

By Aadeesh | June 01, 2023 11:30 AM Read more
PharmEasy fails to raise $120 Mn equity, breaches loan covenant

The e-pharmacy platform has been trying to raise this equity amount for a year, as per the agreement terms of its high-cost loan taken from Goldman Sachs.

By Sajhyadri | June 01, 2023 11:30 AM Read more
Global unemployment rate likely to slip to 5.3% in 2023

According to the International Labour Organization’s (ILO) 11th edition of the World of Work Report, global unemployment is projected to affect 19.1 crore people this year.

By Shivani | June 01, 2023 10:36 AM Read more
Xiaomi, Dixon partner to manufacture smartphones in India

In a statement to BSE, Dixon stated that the tie-up with Xiaomi India will be formalised post the execution of definitive agreements, but no details regarding the financials were revealed.

By Aadeesh | June 01, 2023 10:31 AM Read more
Nykaa's FY23 results: Revenue from operations grew by 36% YoY

The firm's annual figures for FY23 also showed that its EBITDA margins surged by 57% YoY to ₹256 Crores, reflecting a hike of 65 bps.

By Shivani | May 31, 2023 06:04 PM Read more
Bengaluru property owners could face tax hike soon: Deputy CM

D. K. Shivakumar, Deputy CM of Karnataka, said that he is examining an in-depth proposal for this hike, submitted by the Bruhat Bengaluru Mahanagara Palike.

By Sajhyadri | May 31, 2023 05:25 PM Read more
Renault India crosses sales milestone of 9 lakh units

Venkatram Mamillapalle, Renault India’s Managing Director and Country CEO, said that the country is a strategic market for them, and they have a long-term plan in mind.

By Aadeesh | May 31, 2023 05:16 PM Read more
How viable are AI tools for DIY investors and or Early investors?

In the financial sector, AI tools are utilised to help investment managers analyse and manage portfolios. For the same, these technologies use advanced computer techniques and algorithms.

By Chanel | May 31, 2023 04:51 PM Read more
Bears took the lead in May; Indian indices’ gains plunged

Despite commencing May 2023 in ‘green’, Indian indices ended the month in ‘red’ with Sensex slipping by 346.89 pts to 62,622.24 and Nifty sliding by 99.40 pts to 18,534.40.

By Chanel | May 31, 2023 04:46 PM Read more
RTO issues legal notice to Uber for ₹4,000 cab fare in Bengaluru

Karnataka’s Commissioner for Road Transport and Safety directed the Regional Transport Office to issue the notice for the gross violation of surge pricing.

By Sajhyadri | May 31, 2023 04:25 PM Read more
BlackRock reduces BYJU’s fair value to $8.4 Billion

The AMC has placed a value of $4.04 Million (around ₹33.39 Crores) for 2,279 shares held by it in the firm, which is less than 1%, resulting in a fair value estimation of around $8.4 Billion (nearly ₹69,453 Crores).

By Aadeesh | May 31, 2023 03:52 PM Read more
MHADA Lottery: 16,476 applications filed within a week for Mumbai homes

The Maharashtra Housing and Area Development Authority (MHADA) started this lottery sale last week. Applications will be accepted till 26th June 2023 and results will be declared on July 18.

By Sajhyadri | May 31, 2023 03:45 PM Read more
Big news for Ladakh Travellers; Restricted areas now open for tourists

From now on, zones such as Tsogtsalu, Marsimik La, and Chang Chenmo, will start accepting tourists, with bikers being allowed to ride near the patrolling points of Pangong Lake, too.

By Shivani | May 31, 2023 03:16 PM Read more
IndiGo partners with Juspay to manage booking payments

This partnership is expected to further improve customers’ experience by enhancing payment conversions and enabling a broader range of payment methods, as per a joint press release.

By Aadeesh | May 31, 2023 02:46 PM Read more
Toyota warns customers in Oceania, Asia about possible data leak

A setting error may have caused the firm’s database to be publicly accessible between October 2016 to May 2023, compromising information such as customers’ names, phone numbers, addresses, etc.

By Shivani | May 31, 2023 01:51 PM Read more
RBI dividend boosted by sharp increase in forex income

In FY23, RBI’s expenditure rose by 14.05% and its income grew by 47.06%. It also recorded an overall surplus of ₹87,416.22 Crores, which was transferred to the government as dividend.

By Aadeesh | May 31, 2023 01:46 PM Read more
Tata Group procures ₹7600 Cr for Tata Electronics via loans & capital infusion

Tata Electronics Pvt. Ltd. said in a regulatory filing that it received funds worth over ₹608 Crores in FY23 from its holding company, Tata Sons Pvt. Ltd.

By Sajhyadri | May 31, 2023 01:40 PM Read more
Bike makers plan to launch new offerings to compete with Royal Enfield

Automobile firms are planning about 12 new mid-size bike launches to compete with Royal Enfield, which leads the 250cc to 750cc two-wheeler category in India.

By Friyana | May 31, 2023 01:37 PM Read more
Triveni to boost capacity, improve infrastructure of existing plants

The firm will reportedly utilise the capital to expand the manufacturing capacity of its facility in Sabitgarh, Uttar Pradesh to process 9,000 Tonnes of Cane Per Day (TCD).

By Shivani | May 31, 2023 12:42 PM Read more
SEBI’s proposed TER revision may impact AMCs: Nuvama

The brokerage firm claimed that if the Total Expense Ratio includes several other fees, asset managers could note a 27% drop in operating profits for FY25.

By Sajhyadri | May 31, 2023 12:35 PM Read more
China: Youth unemployment hit all-time high in April 2023

It is anticipated that the situation may worsen in the coming months as the new set of graduates will enter the labour market soon, thereby driving joblessness to over 25%.

By Aadeesh | May 31, 2023 12:27 PM Read more
India reclaims 5th spot in global stock market rankings

According to data revealed by Bloomberg on 29th May 2023, the country’s market capitalisation currently stands at $3.31 Trillion (about ₹273 Lakh Crores).

By Friyana | May 31, 2023 12:24 PM Read more
RBI working on portable payment system for transactions during calamities

The new ‘bunker equivalent in payment systems’ will not be dependent on conventional technologies, with bare minimum staff being able to use it from any location.

By Shivani | May 31, 2023 12:13 PM Read more
Indigo's parent firm & Capital International begin stake sale process for ITQ

Both companies are reportedly considering an exit from InterGlobe Technology Quotient (ITQ), and 100% of the stake is set to be offloaded. Citigroup and Nomura have been enlisted for the sale process.

By Aadeesh | May 31, 2023 11:48 AM Read more
Australian boss launches ‘Bare Minimum Mondays’ for employees

The concept allows employees to work from home on Mondays and finish only the basic or essential tasks necessary for their roles. No meetings will be scheduled that day either.

By Aadeesh | May 31, 2023 11:26 AM Read more
Adani Ports share price falls despite 5% surge in Q4 net profit

The share price increased by 6.6% within the past month, while it noted an approximate 18% decline over the last 6 months.

By Friyana | May 31, 2023 11:19 AM Read more
FM reviews progress of NICDIT’s infra projects

The National Industrial Corridor Development and Implementation Trust (NICDIT) is tasked with creating smart industrial cities in greenfield locations with sustainable ‘plug-n-play’ systems.

By Sajhyadri | May 31, 2023 11:15 AM Read more
Tata Technologies to recruit 1,000 women engineers

Tata Technologies Limited’s RAINBOW programme is aimed at recruiting more female candidates in FY24 and creating support structures for them to advance in their careers.

By Shivani | May 31, 2023 10:31 AM Read more
Delhi Metro Airport Express Line starts QR ticketing on WhatsApp

Through this new feature, passengers will be able to utilise these tickets from their smartphones, since a QR code-based ticket will be sent directly to them on WhatsApp.

By Aadeesh | May 31, 2023 10:19 AM Read more
India to promote creation of AI-based portal at G20 to aid MSMEs

A senior government official said that this platform would house various kinds of supply chains data that could benefit such firms from developing nations.

By Sajhyadri | May 31, 2023 10:10 AM Read more
NVIDIA Corporation becomes a $1 Trillion company

After noting a 4.2% surge in its share price, the firm became the first chip manufacturing company to reach a trillion-dollar valuation mark.

By Friyana | May 31, 2023 10:05 AM Read more
Kedarnath Yatra: Weather cameras set for helicopter operations, DGCA arranges extra checks for pilots

The move is aimed at curbing air accidents amidst unpredictable weather conditions since there have been numerous fatalities within the last year.

By Shivani | May 31, 2023 10:00 AM Read more
RBI planning to expand e-Rupee to more locations & banks

It is aiming to carry out this expansion of the ongoing Central Bank Digital Currency (CBDC) pilot project in FY24 and incorporate multiple features in it.

By Sajhyadri | May 30, 2023 05:45 PM Read more
Mensa Brands lays off 25% of its workforce

The firm sacked 200 employees from its workforce comprising of roughly 750-800 staff members on the basis of ‘unsatisfactory’ personal performance.

By Friyana | May 30, 2023 05:22 PM Read more
Power Finance Corp. to boost loans to renewable projects

Ravinder Singh Dhillon, the company’s Chairman, said that the disbursements to renewable energy projects may rise to ₹3 Lakh Crores in the coming seven years, in order to achieve this target.

By Aadeesh | May 30, 2023 04:57 PM Read more
OMRON to set up its first medical devices plant in India

The Japanese firm will invest around $15.7 Million in setting up the new unit in Tamil Nadu, as part of its plan to capture the rising demand in the country.

By Sajhyadri | May 30, 2023 04:15 PM Read more
IIT alumnus who quit ₹36 LPA job cracks UPSC with AIR 135

Robin Bansal, a 25-year-old resident of Punjab, cleared the Union Public Service Commission’s exam with this high rank in his fourth attempt since 2019.

By Sajhyadri | May 30, 2023 04:10 PM Read more
Tesla considers entering the Indian market via CKD assembly route

The Texas-based firm is looking for clarity on taxes before infusing its capital to build a Completely Knocked Down (CKD) units’ assembly facility in India.

By Friyana | May 30, 2023 03:56 PM Read more
Odisha Government launches new rural housing scheme

Under the ‘Mo Ghara’ scheme, the authorities will offer loans to people facing difficulties in upgrading or completing the construction of their homes.

By Friyana | May 30, 2023 03:49 PM Read more
IRCTC announces Q4 results; Standalone net profit surges by 30% YoY

The organisation’s standalone net profit hit ₹279 Crores, gaining from the year-ago period’s ₹214 Crores. Revenue from operations jumped 40% YoY to ₹965 Crores as well.

By Shivani | May 30, 2023 03:04 PM Read more
US Fed revises rate outlook, points to another hike

The US Federal Reserve’s outlook for 2023 has been revised due to recently published macroeconomic data from the country, thereby building anticipation regarding another rate hike soon.

By Aadeesh | May 30, 2023 02:50 PM Read more
Small Savings Schemes: Income proof mandatory for investments above ₹10L

Since these have become further attractive, the government has decided to keep a check on investors. They will now need documentation to complete KYC and will be classified into three categories.

By Aadeesh | May 30, 2023 01:51 PM Read more
Malls concerned over low footfall at multiplexes

Many mall owners are considering bringing down the allocated spaces for multiplexes in their future establishments. However, they are hopeful for a recovery in July due to certain good releases lined up.

By Aadeesh | May 30, 2023 01:49 PM Read more
Smartwatch manufacturer Noise holds talks for its first fundraising

In 2022, around 10 crore smartwatches were sold in India. Hence, NoiseFit: Health & Fitness Services wants to pool about ₹331-413 Crores to compete in a growing market.

By Shivani | May 30, 2023 01:39 PM Read more
Venus Remedies posts net profit of over 200%, share prices surge by 20%

Net standalone sales of the firm were up by 15.81%, as it increased to 148.53 Crores from ₹128.25 Crores noted in Q4FY22.

By Friyana | May 30, 2023 01:30 PM Read more
JioCinema records 3.2 crore viewers during IPL 2023 final

With this new milestone, the platform surpassed its earlier record of being the world’s first-ever streaming service to exceed 2.5 crore concurrent viewers.

By Sajhyadri | May 30, 2023 01:10 PM Read more
IiAS Study: 45 of BSE 500 firms can generate cash worth ₹68,900 Cr

Also, 45 of the S&P BSE 500 organisations reportedly have the potential to return over ₹57.007 Lakh Crores to their respective stakeholders, in the form of dividends and buybacks.

By Shivani | May 30, 2023 12:21 PM Read more
FDIs dipped by 22% YoY to $46 Bn in FY23

India’s foreign direct investments fell from the $58.77 Billion of FY22, due to net lower inflows in sectors of automobile and computer software and hardware.

By Sajhyadri | May 30, 2023 12:10 PM Read more
India a key contributor to Dubai’s FDI inflows: Report

India was ranked among the top 5 source nations for Dubai’s estimated FDI capital and announced FDI projects.

By Friyana | May 30, 2023 12:08 PM Read more
Xiaomi India ropes in Optiemus for manufacturing Bluetooth audio products

This is being done as part of the company’s efforts to widen its production footprint in the country and to develop other products besides TVs and smartphones.

By Aadeesh | May 30, 2023 11:33 AM Read more
Ambani-backed Altigreen Propulsion mulls over raising $85 Mn

The firm seeks a business valuation of approximately $350 Million (about ₹2,892 Crores) to invest in new models and accelerate its production, sources revealed.

By Friyana | May 30, 2023 10:52 AM Read more
ONGC set to invest ₹1 Lakh Crore on energy transition projects

This is being done as part of the company’s efforts to achieve net zero carbon emissions by 2038, as mentioned by Arun Kumar Singh, ONGC’s Chairman.

By Aadeesh | May 30, 2023 10:51 AM Read more
Air India hiring up to 600 employees per month: CEO

Campbell Wilson, the airline’s MD & CEO, said that they are recruiting 50 pilots and 550 cabin crew staff every month and are adding six wide-body A350 planes.

By Sajhyadri | May 30, 2023 10:50 AM Read more
Reliance Capital’s creditors vote for equal distribution of resolution proceeds

Post securing final approval, all members will obtain an amount that is proportionate to their initial claims, irrespective of whether they were in favour of the resolution plan.

By Shivani | May 30, 2023 10:41 AM Read more
Delhi HC rejects PIL against RBI’s exchange of ₹2,000 note without ID

The plea, moved by Advocate and BJP Leader Ashwini Kumar Upadhyay, claimed the decision to be irrational and arbitrary, and if offence of Article 14 of the Indian Constitution.

By Aadeesh | May 30, 2023 10:21 AM Read more
India’s unemployment rate fell to 6.8% in Q4FY23

The latest Periodic Labour Force Survey revealed that the unemployment rate across Indian cities is at its lowest since the survey was initiated in 2018-19.

By Sajhyadri | May 30, 2023 10:10 AM Read more
HDFC Bank launches two limited-period FDs offering up to 7.75% interest

Senior citizens and general category customers will be able to earn a maximum interest of 7.25% and 7.75%, respectively, applicable on FD tenors of 55 months.

By Shivani | May 30, 2023 10:03 AM Read more
ChargerLAB reveals exciting specs for the upcoming iPhone 15

The site revealed that the phone will come with action button controls and a Pro Max periscope camera. It's also expected to be the most open standard product in the series.

By Friyana | May 30, 2023 09:54 AM Read more
Cosmos Bank acquires 100% stake in Maratha Sahakari Bank

This is the first time that a negative net worth bank was acquired by another cooperative bank via a voluntary merger. RBI permitted such amalgamations in March 2021.

By Shivani | May 30, 2023 09:28 AM Read more
Apple’s iOS 17 to enable smart displays for iPhones

The interface will show information like notifications, weather updates, and calendar appointments when the iPhone is locked and placed horizontally.

By Friyana | May 29, 2023 07:17 PM Read more
Airmeet fires 30% of workforce across key departments

The Bengaluru-based virtual events platform’s job cuts have impacted workers from operation, tech, marketing, and sales units in Europe, India, and the US.

By Sajhyadri | May 29, 2023 06:50 PM Read more
Businessman duped of over ₹1 Cr under the pretext of high-return investments

The development came to light after the victim filed an FIR against the alleged, on Saturday, 27th May 2023, at Sector-63 Police Station, Noida.

By Friyana | May 29, 2023 06:25 PM Read more
BPEA EQT to buy HDFC Credila for around $1.5 Bn

Baring Private Equity Asia (BPEA EQT)’s offer for HDFC’s education loan subsidiary was higher than those received from the Asian firm’s competitors, according to sources.

By Sajhyadri | May 29, 2023 06:05 PM Read more
Go First looks to retain its pilots, offers salary hike of up to ₹1 Lakh

This additional pay will be effective from June 1. The move comes in light of the firm’s attempt to save its operations after filing for insolvency recently.

By Friyana | May 29, 2023 05:55 PM Read more
Microsoft President: Govt. must work faster on formulating AI regulations

According to him, AI technology has immense potential for humanity’s good, compared to any other preceding inventions.

By Friyana | May 29, 2023 05:20 PM Read more
JioCinema signs multi-year streaming deal with NBC Universal

Under this partnership, JioCinema will be able to stream NBCU’s TV series and films to Indian audiences by subscribing to JioCinema’s premium-priced plans.

By Sajhyadri | May 29, 2023 05:15 PM Read more
Roche India leases office space spread over 2 lakh sq. ft.

Under this, the firm will pay more than ₹210 Crores over the 9 years of the leasing period. The lease is expected to be registered within a few days.

By Friyana | May 29, 2023 04:43 PM Read more
Delhi HC to Centre: Inform outcome of discussions on draft rules to regulate e-pharmacies

The Centre has six weeks to inform the Delhi High Court (HC) about the outcome of amending the rules for regulating e-pharmacies that operate without a licence.

By Sajhyadri | May 29, 2023 04:30 PM Read more
Tata Capital Financial Services to raise ₹7,000 Cr via NCDs

The subsidiary of Tata Capital Ltd., which funds corporate, SME, and retail firms, posted a 32.03% YoY assets growth for FY23, amounting to ₹78,499 Crores.

By Sajhyadri | May 29, 2023 04:05 PM Read more
DDA may launch housing scheme offering nearly 23,000 flats

The Delhi Development Authority (DDA) may introduce its new housing scheme in June 2023, which has been designed to aid economically weaker sections of society in purchasing a house.

By Shivani | May 29, 2023 02:50 PM Read more
M&M ranked among top 25 auto firms in the world

As per data revealed by Bloomberg, Mahindra and Mahindra Limited (M&M) has taken the 22nd position between Yamaha Motor Co. Ltd. and Mitsubishi Motors Corporation.

By Friyana | May 29, 2023 02:16 PM Read more
Women working overtime in factories rose to 11-year high in 2019

Data from the Ministry of Labour & Employment’s Labour Bureau also shows that only 27.9% male staff worked more than the weekly 48-hour limit in the same year.

By Sajhyadri | May 29, 2023 02:15 PM Read more
Canadian Govt rolls out new open work permit for family & spousal class applicants

These measures are expected to help tackle labour shortages, an issue the country has been dealing with since the COVID-19 pandemic.

By Friyana | May 29, 2023 01:49 PM Read more
Mrs. Bectors Food Specialities announces Q4 results; PAT jumps by 171%

Mrs. Bectors Food Specialities Limited’s (MBFSL) Profit After Tax (PAT) surged to ₹27.2 Crores from standing at ₹10.20 Crores in the previous fiscal, inducing a stock rally of 8%.

By Shivani | May 29, 2023 01:48 PM Read more
ICICI Bank to boost stake in its general insurance venture

The lender has announced its intention to up its stake in ICICI Lombard General Insurance Company Ltd. to more than 50%, causing the latter’s stock to surge by roughly 12%.

By Shivani | May 29, 2023 01:43 PM Read more
Ministry of Mines gears up for India’s first mining startup summit

For this, the ministry has collaborated with the Indian Institute of Technology (IIT) Bombay. Also, Pralhad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines, will inaugurate the event.

By Friyana | May 29, 2023 12:07 PM Read more
Repco Home Finance Q4 results out; Net profit up by 95% YoY

The firm’s net profit soared to ₹82 Crores, up from standing at ₹42 Crores a year earlier. Its total revenue ticked up by 6% to ₹344 Crores as well.

By Shivani | May 29, 2023 11:57 AM Read more
WhatsApp may roll out ‘screen-sharing’ feature for video calls

A recent WABetaInfo report indicated that the upcoming Android 2.23.11.19 and WhatsApp update will give users access to the new screen-sharing feature, along with a revamped tab placement section.

By Chanel | May 29, 2023 11:25 AM Read more
Bajaj Electricals to ramp up its premium products range

The firm anticipates that more high-end products will lead to a bigger revenue contribution and has lined up various new launches, the CEO revealed.

By Sajhyadri | May 29, 2023 11:20 AM Read more
BoM deemed top performer of FY23 in NPA management

Bank of Maharashtra (BoM) has been deemed as the best bank in bad loans management with its NPA declining to 0.25% in FY23.

By Friyana | May 29, 2023 11:09 AM Read more
Survey: 98% white-collar employees seek new jobs despite lesser openings

The Talent Trends 2023 survey also revealed that 23% of India’s skilled workers are confused about jumping ship, but still willing to do so, despite there being a slowdown in hiring activity.

By Shivani | May 29, 2023 11:07 AM Read more
90% online retail payments to come from UPI by FY27: PwC India

The company’s report, called ‘The Indian Payments Handbook – 2022-27’, further claimed that the nation will likely hit 100 crore daily payments by FY27.

By Sajhyadri | May 29, 2023 10:40 AM Read more
Maruti Suzuki India projects production loss for Q1FY24

Shashank Srivastava, Senior Executive Director of Sales and Marketing at the firm revealed that the company expects the situation to ease in the July-September quarter.

By Friyana | May 29, 2023 10:39 AM Read more
Keystone Realtors developed 5 new projects of over ₹3,430 Cr over 6 months

Spanning over 12.8 lakh square feet, the projects are situated in Mumbai's localities of Versova, Chembur, Bandra, and Mahim. Out of the 5 undertakings, 4 are societal redevelopments.

By Shivani | May 29, 2023 10:15 AM Read more
Data Protection Bill to spur behavioural changes in platforms misusing data

The Digital Personal Data Protection (DPDP) Bill will also aid online platforms to curb the spread of false information online, stated Union Minister Rajeev Chandrasekhar.

By Shivani | May 29, 2023 09:19 AM Read more
2023 BMW Z4 M40i Roadster launched in India

It will be sold as a Completely Built Unit (CBU) at an ex-showroom price of ₹89.30 Lakhs. The booking window for the car will be opened from June 2023.

By Friyana | May 26, 2023 05:55 PM Read more
PhonePe: 2 lakh RuPay credit cards linked to UPI

The digital payments company claims to be the first to do so in the country and has already facilitated RuPay Credit on UPI’s acceptance in nearly 1.2 crore merchant outlets in India.

By Aadeesh | May 26, 2023 05:30 PM Read more
Bulls rule the market: Indian indices end week on 5-month high

On 26th May 2023, benchmark indices opened in green. Both Sensex and Nifty gained by 0.17%, with the former closing at 62,501.69 and the latter at 18,499.30.

By Sajhyadri | May 26, 2023 05:15 PM Read more
Thomson to set up a production plant in India, will invest ₹200 Cr

The firm also launched a new range of washing machines and TVs in India, on Thursday. These are available for purchase on the e-commerce platform, Flipkart.

By Friyana | May 26, 2023 04:54 PM Read more
India may witness rapid growth in coming years: WEF President

Borge Brende, President of the World Economic Forum (WEF), believes that the country is undergoing a ‘snowball effect’, which will enable more jobs and investments.

By Aadeesh | May 26, 2023 04:38 PM Read more
PM Modi to launch special ₹75 coin to mark new Parliament building’s inauguration

It will be unveiled by Prime Minister, Shri. Narendra Modi on Sunday, 28th May 2023, alongside the inauguration of the new Parliament building.

By Friyana | May 26, 2023 04:14 PM Read more
Zee reports ₹196 Cr loss due to advertising slowdown

The company’s revenue also declined by about 10% YoY to ₹2,126 Crores, from ₹2,360 Crores in last year’s corresponding quarter. Its advertising fell by 11% to ₹1,006 Crores against ₹1,119.7 Crores last year.

By Aadeesh | May 26, 2023 03:44 PM Read more
Wipro announces merger of its ISRE business with IT Services segment

This development came about shortly after its Indian State-Run Enterprises (ISRE) sector logged a revenue weaker by 20.18% in the last fiscal.

By Shivani | May 26, 2023 03:34 PM Read more
Account aggregator transactions rise, lenders issue ₹6,000 Cr loans

A report by Kotak Institutional Equities mentioned that industry players have begun understanding the Account Aggregator (AA) framework’s benefits and have incorporated use cases in various retail product segments.

By Aadeesh | May 26, 2023 02:30 PM Read more
GIC Re shares record 3% jump after solid Q4FY23 results

General Insurance Corporation of India Limited’s Profit After Tax for FY23 stood at ₹6312.50 Crores, against a PAT of ₹2,005.74 Crores for the former fiscal.

By Sajhyadri | May 26, 2023 02:30 PM Read more
Nikon India projects 11% growth to touch ₹1,000 Cr

Sajjan Kumar, MD of Nikon India, said that this will be fuelled by economic growth, increasing penetration, and the rise in mobility.

By Friyana | May 26, 2023 02:28 PM Read more
South Asian University offers ₹8,000 salary to PhD holders, gets backlash

Online criticisms began to flood in when SAU posted a job listing, touting two openings for research assistants for a 10-month-long project.

By Shivani | May 26, 2023 01:46 PM Read more
Germany enters recession, GDP falls for 2nd consecutive quarter

The nation’s GDP declined by 0.3% for the first quarter, after a 0.5% fall in the previous one, as dwindling energy supplies led to higher prices and economic inflation.

By Sajhyadri | May 26, 2023 01:35 PM Read more
MedPlus Health posts Q4 earnings report, shares surge by nearly 12%

At 9:58 AM, on 26th May 2023, its shares were seen trading at ₹768.90, which is 11.5% higher than MedPlus’ previous closing price.

By Friyana | May 26, 2023 01:12 PM Read more
JPMorgan Chase trademarks ‘IndexGPT’, an AI service for investment advice

The offering implements AI and cloud computing to give reliable investment advice. A user is able to filter out, analyse, and pick securities according to his/her personal needs.

By Shivani | May 26, 2023 12:54 PM Read more
Petronas, bp competing to invest in Greenko founders’ new project

Sources revealed that the foreign firms are looking to invest $1.5-2 Billion in the new clean energy platform, wholly owned by Greenko’s two founding members.

By Sajhyadri | May 26, 2023 12:50 PM Read more
Eurasian Economic Union plans to expedite proposed FTA with India

The Free Trade Agreement (FTA) may boost Indian organisations’ exposure to the resource-rich Eurasia market. China is already logging significant growth by expanding in the same.

By Shivani | May 26, 2023 12:02 PM Read more
Reliance to capture large share in India’s e-commerce market: Bernstein

The brokerage company’s report mentioned that Reliance features the benefits of its retail and mobile networks, digital ecosystem, and home field.

By Aadeesh | May 26, 2023 12:01 PM Read more
‘iPhone 14 Pro in 68 ₹2,000 notes’: Retailers ride sales hike after note ban

Smartphone sellers around India are reporting a 10% to 11% rise in sales as several customers are using their ₹2,000 notes to buy the latest premium handsets.

By Sajhyadri | May 26, 2023 11:20 AM Read more
Odisha to offer free Wi-Fi in colleges, universities soon

Rohit Pujari, Odisha’s Higher Education Minister, said that the Electronics & Information Technology Department is working on ensuring free 1 GB data at all campuses before the next academic session.

By Aadeesh | May 26, 2023 11:17 AM Read more
Almost 6% contract workers in India’s IT sector lost jobs in March quarter

This downtrend may have been induced by the global economic slowdown and geopolitical tensions, a report released by the Indian Staffing Federation (ISF) explained.

By Shivani | May 26, 2023 10:43 AM Read more
Indians top UK’s student & skilled worker visa tally

Statistics show that the number of UK visas granted to Indian professionals surged by 63% from 13,390 in FY22 to 21,837 in FY23.

By Friyana | May 26, 2023 10:32 AM Read more
DGCA instructs Go First to submit operations revival plan in 30 days

This directive comes shortly after Go First’s announcement on Tuesday, 23rd May 2023, that it doesn’t have a fixed timeline for resuming operations.

By Shivani | May 26, 2023 10:28 AM Read more
Tax-free leave encashment of private sector workers hiked to ₹25 Lakhs

In line with this year’s Budget announcement, the Finance Ministry raised the exemption limit on the leave encashment earned by salaried employees to ₹25 Lakhs.

By Sajhyadri | May 26, 2023 10:25 AM Read more
Domestic passenger vehicle sales likely to remain robust in FY24: Tata Motors

The company is aiming for a sales target of 1 lakh units of electric passenger vehicles for the ongoing fiscal, after selling 50,000 last year, along with a deeper penetration of CNG, with its new hatchback’s release.

By Aadeesh | May 26, 2023 10:19 AM Read more
Tax exemption removal to have minimal impact on life insurers

According to an executive of the firm, LIC can make up for the impact via other lines of business and the sale of other products.

By Friyana | May 26, 2023 09:47 AM Read more
Reliance Consumer Products acquires 51% stake in Lotus Chocolate

The FMCG subsidiary of Reliance Retail bought the controlling stake in the chocolate products maker for an aggregate consideration value of ₹74 Crores.

By Sajhyadri | May 25, 2023 06:05 PM Read more
IT firms’ real estate share declines

This is majorly caused by a mixture of adopting a hybrid work model and weakening business, along with talent reallocation to Tier-2 satellite branches.

By Aadeesh | May 25, 2023 05:30 PM Read more
Mankind Pharma Director sells South Delhi property for ₹91 Cr

Poonam Juneja wife of the Indian pharma firm’s Chairman, Ramesh Juneja, sold the 1,200 square yard bungalow to three promoters of Everest Vacuum Pvt. Ltd.

By Sajhyadri | May 25, 2023 05:25 PM Read more
Wipro Chairman takes 50% pay cut for FY23

Besides this reduced salary, Rishad Premji will also not receive his entitled 0.35% commission on Wipro’s incremental consolidated net profits for the fiscal.

By Sajhyadri | May 25, 2023 04:10 PM Read more
Gurugram revokes ban on registration of Chintels’ properties

The ban had been imposed due to the partial collapse of Tower D in Chintels Paradiso, Delhi on 10th February 2022, which resulted in the deaths of two women.

By Aadeesh | May 25, 2023 04:07 PM Read more
Govt. blocks fraud numbers, disrupting genuine customer connections

Citizens have requested the Department of Telecommunication to resume their mobile connections within 90 days, before they get re-allocated.

By Friyana | May 25, 2023 03:58 PM Read more
RBI may require $18 Bn worth bonds to add cash: ICICI Bank

B. Prasanna, ICICI Bank’s Group Executive, stated that the banking system’s liquidity could tighten due to higher spending amidst state elections later in the year.

By Aadeesh | May 25, 2023 03:19 PM Read more
SoftBank may invest up to $100 Mn in 5 Indian startups each

With this, the Japanese tech investor looks to support these enterprises in their next growth stage, helping them reach a valuation of $1 Billion (about ₹8,274 Crores).

By Friyana | May 25, 2023 03:16 PM Read more
PM Modi inaugurates Uttarakhand’s first Vande Bharat Express

On Thursday, 23rd May 2023, PM Narendra Modi flagged off the maiden run of the new train via video conferencing, which will travel between Dehradun and Delhi.

By Shivani | May 25, 2023 03:01 PM Read more
Ola Electric gears up to launch its IPO in 2024

The firm looks to be listed before the government’s EV subsidies are discontinued. Cyril Amarchand Mangaldas will act as the legal advisor for the IPO.

By Friyana | May 25, 2023 02:19 PM Read more
Fraudster gets ₹25 Lakh loan with customers’ ID & financial details

According to police officials, the culprit first opened a bank account with fake documents and obtained up to five pre-approved loans worth ₹5 Lakhs each.

By Sajhyadri | May 25, 2023 02:15 PM Read more
Amit Shah to visit Assam for largest-ever job distribution in state

The Home Minister is set to participate in two key government programmes occurring in Guwahati, namely a foundation stone laying ceremony and handing job appointment letters to 44,703 youth.

By Aadeesh | May 25, 2023 02:02 PM Read more
BoM secures top rank in PSU lenders chart for loan & profit growth

Bank of Maharashtra’s (BoM) bottomline surged by nearly 126% to ₹2,602 Crores. Its Current Account and Savings Account (CASA) deposits strengthened by 53.38% as well.

By Shivani | May 25, 2023 01:57 PM Read more
MHADA Lottery 2023: 4,083 houses for sale, includes ₹7.5 Cr flat in Tardeo

Individuals can register for the process till 6 pm on June 26, on the official portals of Maharashtra Housing Area and Development Authority (MHADA).

By Friyana | May 25, 2023 01:42 PM Read more
Microsoft launches AI chatbot ‘Jugalbandi’ for rural citizens

According to the tech giant, the WhatsApp-based tool can retrieve information on various government schemes and provide it to Indians in their local languages.

By Sajhyadri | May 25, 2023 01:25 PM Read more
Why and how does recession in the US impact India? Can the current recession in the States make its way to India?

As central banks hike their lending rates to lower inflation, certain economies have started to shrink. Recent data suggests that a global recession is expected to start in 2023.

By Chanel | May 25, 2023 01:20 PM Read more
Bus operator Flix to enter Indian market by early 2024

Flix SE will launch its first set of inter-city green lines in early 2024. The firm hopes to establish itself as an affordable alternative to other means of transport.

By Shivani | May 25, 2023 12:54 PM Read more
India Inc. extending support to employees with special-needs children

For instance, firms like Tata Power Co. Ltd., Cisco Systems, Inc., and Accenture PLC, have taken up initiatives for employees’ children having dyslexia, ADHD, Down Syndrome, autism, etc.

By Aadeesh | May 25, 2023 12:44 PM Read more
India to launch Generative AI tools soon: Microsoft

At last week’s AWS Summit India event, the IT major said that the Centre is exploring how it can use AI to streamline various tasks and reduce manual efforts.

By Sajhyadri | May 25, 2023 12:00 PM Read more
Simple One e-scooter launched in India, offers riding range of 212 km

The automobile boasts an Indian Driving Conditions (IDC) certified riding range of 212 km per charge and features a 5kWh lithium-ion battery.

By Friyana | May 25, 2023 11:43 AM Read more
Centre to issue first draft of Digital India Bill in early June

This new legislation is set to oversee a wide range of digital services, as the Central Government aims to replace the Information Technology Act, 2000, in favour of this.

By Aadeesh | May 25, 2023 11:42 AM Read more
Alibaba to slash 7% of its cloud computing division workforce

Alibaba has already started informing impacted staffers about the layoffs. Also, the company is assisting them in shifting to other roles within the firm if they wish to do so.

By Shivani | May 25, 2023 11:32 AM Read more
LIC’s Q4FY23 profit rises 6x to ₹13,428 Cr

According to an exchange filing, the insurers' net profit for Q4FY23 came to ₹2,371.5 Crores. Its sequential profit growth was 112%, while standalone net premium fell by 8.3% YoY.

By Aadeesh | May 25, 2023 11:02 AM Read more
M&M shares surge over 4%, offloads stake in CIE Automotive subsidiary

Mahindra & Mahindra Limited (M&M) offloaded its remaining 3.2% stake in its subsidiary, Mahindra CIE Automotive Limited via bulk deals on 24th May 2023.

By Friyana | May 25, 2023 10:59 AM Read more
Suzlon Energy wins turbine order from Torrent Power, shares rally 8%

The Pune-based company will build 100 wind turbines for Torrent Power from its new 3 MW series. The 300 MW project will be set up in Karnataka in 2025.

By Sajhyadri | May 25, 2023 10:50 AM Read more
Government introduces UDAN 5.1 to boost connectivity to remote locations

The Ministry of Civil Aviation (MoCA) recently rolled out ‘UDAN 5.1’, which is an initiative aimed at enhancing connectivity to remote areas via a helicopter service.

By Shivani | May 25, 2023 10:44 AM Read more
Pune techie duped of ₹6 Lakhs, had just under ₹5 Lakhs in bank a/c

The fraudsters did so by gaining access to the victim’s net banking account and applying for a personal loan of ₹2 Lakhs under her name.

By Aadeesh | May 25, 2023 10:17 AM Read more
Indian banks seek fee on use of RuPay debit cards

Through a processing fee charged on RuPay debit cards, the lenders look to raise funds for creating payment solutions and improving network security.

By Friyana | May 25, 2023 10:05 AM Read more
Meta starts final layoff round, cuts around 490 jobs

According to the social media firm, this latest downsizing is part of the three sets of worldwide layoffs announced in March, to fire around 10,000 workers.

By Sajhyadri | May 25, 2023 10:00 AM Read more
Oberoi Realty looks to partner with Hyatt, Marriot International

The realty firm wants to establish a 5-star property in Thane, which will include a 300-key hotel, along with residential, retail and housing units spanning 75 acres of land.

By Shivani | May 25, 2023 09:50 AM Read more
Government websites targeted by hackers, users redirected to IPL betting sites

The cyberattack specifically targeted the Bangalore Water Supply and Sewerage Board (BWSSB) and the Indian Council of Agricultural Research’s (ICAR) web pages, redirecting visitors to ipln8.com.

By Aadeesh | May 24, 2023 05:24 PM Read more
FDI inflows dip for the first time in 10 years, fall by 16%

FDIs lowered by 27.5% to $28 Billion (about ₹2.31 Lakh Crores). Meanwhile, outward flows also declined by 23% to reach $13.6 Billion (about ₹1.12 Lakh Crores).

By Friyana | May 24, 2023 04:56 PM Read more
Banks to see higher lending margins on ₹2000-note deposits

Lenders’ deposits could rise by up to ₹2 Lakh Crores till the September 2023-end deadline for exchanging the notes, thereby helping in reducing their cost of funds.

By Sajhyadri | May 24, 2023 04:50 PM Read more
Uber India set to launch 25,000 EVs by 2025 via fleet partnerships

With this, the company is looking to accelerate the shift to sustainable mobility amongst its partners. Some of them include Everest Fleet, Moove, Lithium Urban, and Zypp Electric, among others.

By Aadeesh | May 24, 2023 04:33 PM Read more
Microsoft upgrades ChatGPT, Bing and more for users

One of the organisation’s primary changes in its products includes the implementation of live searches from Bing to ChatGPT, whose responses originally pertained to information, as of 2021.

By Aadeesh | May 24, 2023 03:28 PM Read more
Infosys Founder-owned Catamaran to double its $1 Bn investments

For this purpose, the firm founded by Narayana Murthy will hire more professionals and bet on India, which is likely to emerge as a high-quality manufacturing hub.

By Friyana | May 24, 2023 03:22 PM Read more
Adani Group may bag funding of nearly $1 Bn from GQG Partners

GQG Partners LLC is showing more interest in the financing deal now, having reaped viable returns from its investment of $2 Billion (around ₹16,531 Crores) in March 2023.

By Shivani | May 24, 2023 03:16 PM Read more
Apple announces over 170 openings for AI & ML roles

The iPhone maker plans to boost its products and services across the world by using Generative AI capabilities and compete with similar global tech giants.

By Sajhyadri | May 24, 2023 02:10 PM Read more
Campus hiring in IT sector may slow down by nearly 40%

A TeamLease Digital Pvt. Ltd. report indicated that this year, 2,30,000 students are projected to be hired from engineering campuses. The same may slip to 1,55,000 in 2024.

By Shivani | May 24, 2023 01:47 PM Read more
GDP growth may have crossed 7% in FY23: RBI

RBI Governor, Shaktikanta Das revealed that the economic indicators showed sustained momentum in economic activity in the final quarter of the last fiscal.

By Friyana | May 24, 2023 01:23 PM Read more
Infrastructure, manufacturing sectors to drive India’s growth: Moody’s

The credit ratings firm believes that this could be due to the country’s rapidly improving manufacturing and infrastructure sectors but expressed concerns regarding certain barriers to investments.

By Aadeesh | May 24, 2023 01:21 PM Read more
Netflix informs users about password-sharing crackdown

The company also plans to launch a new subscription option that supports ads, as it focuses on exploring new revenue sources and tackling market saturation.

By Sajhyadri | May 24, 2023 01:10 PM Read more
UPSC results out; Top 4 ranks bagged by women

The results for the Civil Services Examination of 2022 were declared on Tuesday, 23rd May 2023. Out of the top 20 ranks, 12 were secured by women.

By Shivani | May 24, 2023 12:54 PM Read more
Maruti Suzuki: 25% of total sales in FY24 to come from SUVs

The automobile major looks to sell 5 lakh units of the Grand Vitara, Jimny, Brezza, and Fronx this fiscal, despite their long waiting periods.

By Friyana | May 24, 2023 12:31 PM Read more
India is one of Nescafé’s fastest growing markets: Nestlé

Philipp Navratil, Nestlé’s Head of Coffee Strategic Business Unit, highlighted India’s potential for growth through both in-house and outside consumption.

By Sajhyadri | May 24, 2023 12:15 PM Read more
Sirona Hygiene acquires sexual wellness brand Bleu

Deep Bajaj, Sirona Hygiene’s Founder, said that this move is aligned with their goal of expanding their portfolio of feminine care products.

By Aadeesh | May 24, 2023 12:13 PM Read more
Dharavi teen becomes the face of Forest Essentials

Maleesha Kharwa is going to be the brand's face for its new Yuvati collection. 10% of the line-up's revenue will be donated to support the education of underprivileged Indian children.

By Shivani | May 24, 2023 11:55 AM Read more
Oil Ministry drafts proposal to merge subsidiaries of ONGC

As per sources, the Mangalore Refinery and Petrochemicals Limited (MRPL) and Hindustan Petroleum Corp. Ltd. (HPCL) merger is likely to be a share-swap deal.

By Friyana | May 24, 2023 11:19 AM Read more
Retailers barred from insisting consumers' phone numbers

Rohit Kumar Singh, Secretary of the Department of Consumer Affairs, said that this was an unfair trading practice and also a breach of customers’ privacy.

By Sajhyadri | May 24, 2023 11:05 AM Read more
Ashok Leyland Q4 results out; PAT slips by nearly 17% YoY

Its Profit-After-Tax (PAT) plummeted to stand at ₹751.41 Crores. The slump happened despite its total revenue from operations surging by 33% YoY to ₹11,626 Crores.

By Shivani | May 24, 2023 10:58 AM Read more
RBI deems C-KYC as high risk, lenders to use other methods

The central bank said that customers onboarded through DigiLocker and C-KYC modes will be considered risky and their accounts will face enhanced monitoring.

By Sajhyadri | May 24, 2023 10:20 AM Read more
Organised jewellery sector expected to chart 12-15% revenue growth in FY24

This will be driven by the expansions a majority of the industry's large players have planned. The range is higher than the expected 8% to 10% YoY sector growth.

By Friyana | May 24, 2023 10:15 AM Read more
Salary growth in FY23 declined to 9%

A report by TeamLease Services stated that this development was majorly due to sectors like automobile, agrochemicals, agriculture, and BFSI, among others.

By Aadeesh | May 24, 2023 10:15 AM Read more
SpiceJet hikes pilots’ salaries to nearly ₹7 Lakh per month

The firm also announced a loyalty reward for Captains, offering them ₹1 Lakh per month, which will be disbursed along with their regular monthly compensation.

By Shivani | May 24, 2023 10:12 AM Read more
Google Pay introduces Rupay Credit Card support on UPI

Under this, customers can link their cards with their Google Pay accounts and make payments to all offline and online merchants if accepted.

By Friyana | May 23, 2023 05:22 PM Read more
Bihar: Credit scheme for students may cause NPAs worth ₹300 Cr

The state government’s Bihar Student Credit Card (BSSC) scheme provides financial assistance to students for their higher studies and offers a maximum amount of ₹4 Lakhs to each person.

By Aadeesh | May 23, 2023 05:03 PM Read more
No plans to reintroduce ₹1,000 notes: RBI Governor

Shaktikanta Das clarified that the step would have a marginal impact on the nation’s economy since they made up only 10% of total notes in circulation.

By Sajhyadri | May 23, 2023 04:30 PM Read more
Shriram Finance to rollout credit facility for upskilling courses

For this purpose, the NBFC is developing a new platform where the offering will be made available within the next 6 to 9 months.

By Friyana | May 23, 2023 04:24 PM Read more
Credit card spends plummeted by over 3% MoM in April

Credit card spends declined by 3.3% Month-on-Month (MoM) in April 2023 to ₹1.33 Lakh Crores. However, the same surged by almost 26% when compared to a year-ago period.

By Shivani | May 23, 2023 03:27 PM Read more
JioMart lays off 1,000 employees, likely to slash more jobs soon

The company may slash 9,900 more jobs in the coming weeks as part of its cost-cutting measures and profitability drive. This is also in line with its acquisition of Metro Cash and Carry’s business.

By Aadeesh | May 23, 2023 03:21 PM Read more
Digital lenders further emphasise portfolio quality

The present environment may influence fintech companies to opt for co-lending arrangements with traditional lenders, while well-capitalised firms may consider acquiring their smaller peers.

By Aadeesh | May 23, 2023 03:18 PM Read more
Overseas travel boosted India’s forex spends to $27.1 Bn in FY23

According to RBI, foreign currency expenses soared by $7.5 Billion last fiscal, while overseas travel spending rose 97% YoY to $13.7 Billion in this period.

By Sajhyadri | May 23, 2023 02:10 PM Read more
PVR INOX to invest about ₹700 Crores, add 175 new screens in FY24

PVR INOX Ltd. will expand its operations across some Tier-2 and Tier-3 cities. It also plans to retrofit existing screens to improve their ambience, technology, formats, etc.

By Shivani | May 23, 2023 01:55 PM Read more
Ajmera Realty to reduce corporate debt by 90% in 3 years

The company is also looking to back slum rehabilitation and redevelopment projects. It will additionally invest in stressed real estate initiatives with infusions between ₹100-300 Crores.

By Aadeesh | May 23, 2023 01:22 PM Read more
Indian edtech startups reeling from funding drought

Edtech firms, which raised funds ranging from 100 to nearly 5,000 times their revenue in FY22, are now noting a valuation decline and bracing for a growth slump.

By Sajhyadri | May 23, 2023 01:15 PM Read more
Macquarie Research upgrades Delhivery’s rating, Zomato gets ‘underperform’ tag

The target prices for Delhivery Ltd. and Zomato Ltd. were revised to ₹440 and ₹55 per unit of stock, respectively, shortly after the two firms released their performance results for Q4FY23.

By Shivani | May 23, 2023 01:05 PM Read more
WhatsApp rolls out new feature, users get 15-minute edit window

According to WhatsApp, this option will give users better control over their chats, allowing them to add extra content to their messages or correct typing errors.

By Sajhyadri | May 23, 2023 12:15 PM Read more
DBS to add super premium credit cards to its retail offerings

Prashant Joshi, Head of Consumer Banking, DBS Bank, mentioned that the credit cards are set to be added to the bank’s mortgage, personal, and gold loan portfolios.

By Aadeesh | May 23, 2023 12:14 PM Read more
Ola Electric raises $300 Mn funding, valued at $6 Bn

The round was led by a major sovereign fund company. On aggregate, the EV manufacturer has raised nearly $900 Million (about ₹7,453 Crores), so far.

By Friyana | May 23, 2023 12:05 PM Read more
Borosil reports 35% drop in consolidated net profit for Jan-Mar quarter

On 23rd May 2023, the shares of Borosil Ltd. fell by over 5%, impacted by weak performance results. Its consolidated net profit slipped to ₹22.34 Crores from ₹34.18 Crores a year ago.

By Shivani | May 23, 2023 11:55 AM Read more
Vivriti targets $250 Mn to launch India ABS Private Debt Fund

The Chennai-based company claims the fund to be the country’s first-ever resource for making private credit investments in asset-backed securities. So far, it has managed to raise $106 Million (around ₹877 Crores).

By Aadeesh | May 23, 2023 11:38 AM Read more
Auto firms to invest $10 Bn to boost EV production capacity

Through this, car and two-wheeler manufacturers look to generate an additional EV production capacity of 20 lakh and 1.5 crore units, respectively.

By Friyana | May 23, 2023 11:16 AM Read more
BCCI names Adidas as Team India’s official kit sponsor

India’s governing cricket body signed a five-year deal with the sportswear giant, which includes a sponsorship fee and yearly sale royalties worth ₹10 Crores.

By Sajhyadri | May 23, 2023 11:15 AM Read more
NCLT directs BSE, NSE to re-evaluate Zee-Sony merger approvals

On May 11, 2023, the body asked the exchanges to reassess and validate the non-compete clause of the union. This had initially been approved by SEBI and the two exchanges.

By Shivani | May 23, 2023 11:14 AM Read more
Uttarakhand, TN hike DA by 4% for govt. employees, pensioners

Nearly 3 lakh and 16 lakh government workers and pensioners from Uttarakhand and Tamil Nadu, respectively, will benefit from this. The new DA has been revised to 42% from 38% in the states.

By Aadeesh | May 23, 2023 10:45 AM Read more
Centre should not extend PLI to products of small firms: Report

A report from the Global Trade Research Initiative said that Production Linked Incentive (PLI) Scheme benefits could lead to competitive distortion in these sectors.

By Sajhyadri | May 23, 2023 10:25 AM Read more
JPMorgan expects First Republic Bank acquisition to boost net interest income

The estimated amount previously estimated to be $81 Billion (about ₹6.70 Lakh Crores) was increased to $84 Billion (about ₹6.95 Lakh Crores).

By Friyana | May 23, 2023 10:20 AM Read more
Borrowing rates for government, firms may slip due to withdrawal of ₹2,000 notes

With the withdrawal resulting in stronger bank deposits and liquidity, the returns of short-term money market instruments and government bonds may decline.

By Shivani | May 23, 2023 10:20 AM Read more
L&T obtains ₹2,500 Cr worth orders in India, overseas

The firm’s Power Transmission and Distribution (PT&D) operations under its construction division will set up the orders. It has gotten two orders in Saudi Arabia, for power transmission lines and a substation.

By Aadeesh | May 23, 2023 10:06 AM Read more
Google Cloud & TCS partner to offer generative AI solutions

TCS continues to invest in upscaling its expertise in cloud technologies, to meet the demand anticipated for its new offering.

By Friyana | May 22, 2023 06:21 PM Read more
Paytm Money rolls out bond platform for retail investors

The safe, simple, and transparent platform will reportedly enable people to invest money in 3 types of bonds, namely, corporate, government, and tax-free.

By Shivani | May 22, 2023 05:20 PM Read more
Developers in top 7 cities likely to complete around 5.58 lakh homes in 2023

This is a 39% increase from the 4.02 lakh units scheduled to complete in 2022. It will be driven by developers focusing on accelerating the pace of construction.

By Friyana | May 22, 2023 05:20 PM Read more
Meta fined $1.3 Bn for transferring data to US

The firm’s transfer of European users’ data is reportedly in breach of an earlier court ruling, as mentioned by the Irish Data Protection Commission on 22nd May 2023.

By Aadeesh | May 22, 2023 05:15 PM Read more
Job applicants seeking stability amidst industry-wide layoffs

Since startups fired over 25,000 employees as cost-cutting measures after last year’s funding crunch, jobseekers are now choosing firms with stable finances.

By Sajhyadri | May 22, 2023 05:15 PM Read more
JioCinema-Voot merger may be completed by May-end

Sources revealed that all of Voot’s streaming content will come under JioCinema soon, as both platforms wait for the ongoing Indian Premier League season to end.

By Sajhyadri | May 22, 2023 04:10 PM Read more
Telecoms note 15-20% drop in payouts for MNP & SIM activation

This decline in trade payouts made towards SIM activations and Mobile Number Portability (MNP) has potentially allowed the firms to increase their operating margins.

By Friyana | May 22, 2023 04:04 PM Read more
PhonePe obtains additional fund of $100 Mn from General Atlantic

The aviation firm is set to commence operations over its new route to Bangkok from June 3, and to Hyderabad and Surat from July 3. People can also travel to Goa and Bengaluru from Kolkata starting June 26.

By Aadeesh | May 22, 2023 03:59 PM Read more
IndiGo improves Kolkata’s connectivity, announces new routes

The aviation firm is set to commence operations over its new route to Bangkok from June 3, and to Hyderabad and Surat from July 3. People can also travel to Goa and Bengaluru from Kolkata starting June 26.

By Aadeesh | May 22, 2023 03:58 PM Read more
TCS finalises deal with BSNL to deploy 4G network in India

A consortium led by Tata Consultancy Services Ltd. (TCS) stated that it has obtained an Advance Purchase Order (APO) of over ₹15,000 Crores from Bharat Sanchar Nigam Limited (BSNL).

By Shivani | May 22, 2023 02:17 PM Read more
Japan may join India’s UPI system soon: Report

Koto Taro, Japan’s Digital Minister, stated that his country is ‘seriously’ considering the UPI system’s incorporation, and improved interoperability via mutually recognised e-IDs, starting with cooperation.

By Aadeesh | May 22, 2023 02:08 PM Read more
Swiggy Instamart launches new snack service

With this category expansion, the firm aims to turn profitable since these quick snacks provide better margins compared to grocery delivery.

By Friyana | May 22, 2023 12:23 PM Read more
PLI Scheme likely to have helped reduce electronics’ imports from China

The overall import value in FY23 fell to $27.6 Billion (about ₹2.28 Lakh Crores) from $30.3 Billion (nearly ₹2.50 Lakh Crores) in FY22, highlighting a notable slide.

By Aadeesh | May 22, 2023 12:21 PM Read more
Tiger Global plans $40 Mn investment in Rajasthan Royals

As per sources, the New York-based investor could make a direct or indirect capital infusion in the IPL team, taking its total valuation to $650 Million.

By Sajhyadri | May 22, 2023 12:15 PM Read more
Gold inquires rise after RBI announces withdrawal of ₹2,000 notes

Jewellers across India noted heightened footfall on Saturday, 20th May 2023, but due to strict KYC rules, there have been fewer than usual gold and silver purchases.

By Shivani | May 22, 2023 11:58 AM Read more
Airports Authority of India posts ₹3,400 Cr profit in FY23

The body announced a profit for the first time since the pandemic period. In the past, it reported a loss of ₹803.72 Crores and ₹3,176.12 Crores in the March 2022 and March 2021-ended quarters, respectively.

By Aadeesh | May 22, 2023 11:57 AM Read more
Withdrawal of ₹2,000 notes may boost banks deposit base: Report

This decision may also bolster money market liquidity by anything between ₹40,000 Crores to ₹1.1 Lakh Crores, even if merely 33% of the high-value notes are scrapped.

By Shivani | May 22, 2023 11:42 AM Read more
No requisition slip or ID proof needed to exchange ₹2000 notes: SBI

The State Bank of India further clarified, on 21st May 2023, that customers will need a requisition slip only for sums crossing ₹20,000 in a single turn.

By Sajhyadri | May 22, 2023 11:15 AM Read more
SEBI proposes revisions in price band formulation for derivative stocks

With this, the regulatory body looks to reduce information asymmetry amongst market participants and enhance volatility management.

By Friyana | May 22, 2023 10:44 AM Read more
Indian PSBs crossed ₹1 Lakh Crore milestone of net profits in FY23

Countrywide Public Sector Banks (PSBs) posted their total earnings worth ₹1,04,649 Crores in the last fiscal, with 12 such lenders noting a 57% rise in their net profits.

By Sajhyadri | May 22, 2023 10:20 AM Read more
TCS hike on tour packages to impact Indian travel agencies

Many local tour operators are concerned about facing a competitive disadvantage against their international peers, who will not be required to levy TCS to Indian customers and take away their business.

By Aadeesh | May 22, 2023 10:05 AM Read more
Deloitte to open delivery offices in Kolkata, Chennai & Pune

The company was prompted to do so by a rise in demand for Deloitte’s advisory services. Over 10,000 skilled workers will carry out operations from these new offices

By Shivani | May 22, 2023 09:58 AM Read more
Indigo declares 3% bonus for crew post record profit

This had been a tradition at the firm but was halted in FY20 due to the pandemic period’s effect on the business. IndiGo also plans on making more investments in its growth.

By Aadeesh | May 19, 2023 05:32 PM Read more
RBI to regulate firms offering PoS-based payments

The central bank will likely make KYC mandatory for digital companies operating PoS terminals at offline outlets and also introduce capitalisation guidelines.

By Sajhyadri | May 19, 2023 05:25 PM Read more
Kabira Mobility unveils KM5000, claims longest riding range

The e-bike is expected to have a riding range of 344 km per charge and a top speed of 188 kmph. It is likely to be sold at a starting ex-showroom price (Goa) of ₹3.15 Lakhs.

By Friyana | May 19, 2023 05:14 PM Read more
Bulls take the lead; Sensex rises by nearly 300 pts

On 19th May 2023, indices commenced the session on a ‘green’ note with the trend continuing until the closing bell, allowing Sensex to settle at 61,729.68, higher by 297.94 pts.

By Chanel | May 19, 2023 04:43 PM Read more
Bajaj Allianz Life launches India’s first ULIP small cap fund

As per the company’s statement, the product will allow customers to achieve capital appreciation by infusing the pooled funds in a portfolio of small cap stocks.

By Friyana | May 19, 2023 04:34 PM Read more
Paytm partners with SBI Card, NPCI to launch co-branded RuPay credit card

Paytm will offer some special privileges worth up to ₹75,000 and a Paytm First Membership to its customers as a welcome benefit.

By Friyana | May 19, 2023 03:48 PM Read more
Builders seek relaxation on govt charges for delayed real estate projects

As per the developers, they paid these charges for 100 projects under a 50% premium waiver scheme in 2021 but were unable to start work due to the pandemic.

By Sajhyadri | May 19, 2023 03:25 PM Read more
Nexus Select Trust listed at 3% premium on issue price

The trust’s shares got listed at a premium of 3% over its issue price at ₹103/share on NSE and a listing of ₹102.27 on BSE over the upper band price of ₹100 during Friday, 19th May 2023’s trade session.

By Aadeesh | May 19, 2023 02:57 PM Read more
98% skilled workers look for new jobs amidst hiring slowdown

Ankit Agarwala, MD of PageGroup, said that the willingness to change jobs among workers is not linked to its availability, as indicated in the report.

By Friyana | May 19, 2023 02:10 PM Read more
29,237 youths provided jobs in a year by AAP govt: Punjab CM

Bhagwant Mann, the state Chief Minister, said that these were done purely based on merit. He mentioned that the police will collaborate with Google to keep them informed on scientific lines.

By Aadeesh | May 19, 2023 01:57 PM Read more
Man signs up for AI, ML course, gets new job at 100% salary hike

Jarupula Prem Kumar, a resident of Warangal district, Telangana, had worked as a test data engineer at TCS for 2 years. He knew the value of upskilling and learning about emerging tech.

By Aadeesh | May 19, 2023 12:46 PM Read more
RBI could double Centre’s dividend payout to bridge fiscal gap

The government is hoping for a substantially higher dividend to decrease its borrowing from the market and lower the fiscal deficit to 5.9% of the GDP for FY23.

By Sajhyadri | May 19, 2023 12:20 PM Read more
Infibeam Avenues to list its UAE-based subsidiary to raise $25-50 Mn

According to a source aware of the development, Vavian International Ltd. is likely to offer 25% of its stake in the subsidiary via a dual listing arrangement.

By Friyana | May 19, 2023 12:16 PM Read more
Gen Zs concerned by high cost of living, 46% have side jobs

A survey by Deloitte revealed that high expenses have delayed their huge life decisions, like starting a family or purchasing a home, and opt for cost-cutting behaviours like second-hand clothes or have no car to drive.

By Aadeesh | May 19, 2023 11:44 AM Read more
ChatGPT app launched for iOS, Android version to rollout soon

The app syncs users’ history across devices and is free to use. While it’s presently only available in the US, the chatbot will be rolled out for other countries within a few weeks.

By Friyana | May 19, 2023 11:18 AM Read more
Nokia launches 2 new feature phones with UPI facility

HMD Global, the brand’s maker, stated that the two new 4G mobiles, Nokia 106 and Nokia 105, will have UPI 123PAY built-in into them, for safe and easy payments.

By Sajhyadri | May 19, 2023 11:10 AM Read more
Jindal Stainless aims 20% sales growth via rail projects

Abhyuday Jindal, the firm’s MD, believes that the government’s removal of export duty over steel products will help expand sales, and anticipates exports to be about 15-20% during 2023-24.

By Aadeesh | May 19, 2023 10:41 AM Read more
Apple bans use of ChatGPT for employees citing privacy concerns

Sources revealed that the firm is developing a similar technology and so, it is trying to curb the leakage of private data by workers who use such AI tools.

By Sajhyadri | May 19, 2023 10:25 AM Read more
Flipkart reports double digit growth in sales during Jan-Mar quarter

The information was revealed by top officials from Walmart Inc., the parent company of the e-commerce platform, during an earnings call on Thursday, 18th May 2023.

By Friyana | May 19, 2023 10:13 AM Read more
Real estate sector records ₹26,000 Cr deals in 17 months

These deals have gained renewed momentum with many being conducted in key markets such as Hyderabad, Bengaluru, Chennai, Delhi-NCR, and Pune, among others.

By Aadeesh | May 19, 2023 10:09 AM Read more
India may introduce laws to regulate AI tools like ChatGPT

Ashwini Vaishnaw, India’s IT Minister, said that such a regulatory framework will only be formalised after discussing the risks these platforms pose with other countries.

By Sajhyadri | May 18, 2023 05:00 PM Read more
Victims across multiple cities fall prey to share market fraud

The culprit, identified as Milan Jain, ran a YouTube channel which had more than 40,000 subscribers and created videos about the share market since 2019.

By Friyana | May 18, 2023 04:45 PM Read more
Domino’s to join ONDC, tech integration underway

Sameer Batra, President and Chief Business Officer at Jubilant FoodWorks, the franchisee of Domino’s Pizza, said that they wish to serve pizzas wherever customers are situated in.

By Aadeesh | May 18, 2023 04:34 PM Read more
Forex spending via credit cards included under RBI’s LRS limit

This move of the central bank is aimed at limiting the evasion of the Liberalised Remittance Scheme (LRS) limits via the use of credit cards.

By Friyana | May 18, 2023 03:40 PM Read more
Temporary hiring soars amidst rising demand for cooling products

The recruitment of summer-oriented service providers, technicians, marketing executives, and retailers surged by 20-25% YoY, owing to the ongoing heat wave.

By Shivani | May 18, 2023 03:10 PM Read more
Infosys becomes bp’s digital services partner with $1.5 Bn deal

The IT firm will be the energy company’s primary partner for application-based services to boost innovation and productivity and enhance digital maturity for bp.

By Sajhyadri | May 18, 2023 03:05 PM Read more
Amazon, Meta, Google recruiting low-paid H1B staffers post US layoffs

Many firms have applied for H1B visas this year, as per the US Department of Labor data. Several of these visa holders had earlier been impacted by layoffs in the country.

By Aadeesh | May 18, 2023 02:56 PM Read more
HDFC Life announces ₹3,660 Cr bonus, 23 lakh policyholders to reap benefits

In a statement, the company mentioned that ₹2,696 Crores will be payable to policies during the current fiscal, while the remaining is set to be paid on a policy's maturity via various pay-out options.

By Aadeesh | May 18, 2023 01:18 PM Read more
HDFC Capital Affordable Real Estate Fund invests nearly ₹560 Cr in CCI Projects

The fund financed a housing project called ‘Rivali Park Wintergreen’ in Borivali, Mumbai. This capital will be used for repaying existing liabilities and building upcoming phases.

By Shivani | May 18, 2023 01:18 PM Read more
Tesla keen to open EV factory in India, plans local sale & export

The new proposal comes a year after talks had been suspended in a deadlock, since India had refused to lower import taxes on cars, as requested by Tesla.

By Sajhyadri | May 18, 2023 01:10 PM Read more
MX Player partners with Vserv AudiencePro to improve its audience base

Through this collaboration, both firms will work on ways to attract new customers and find ways to retain the existing audience.

By Friyana | May 18, 2023 01:08 PM Read more
Banks mull M&A deals with microfinance lenders to boost loan book

By acquiring smaller financiers, banks can utilise their high-yielding and lucrative loan book to reach out to India’s under-banked segment of customers.

By Sajhyadri | May 18, 2023 12:10 PM Read more
AWS aims to expand cloud infrastructure in India with nearly $13 Bn investment

Prompted by the rising demand for cloud services, Amazon Web Services, Inc. stated that it plans to route $12.7 Billion (approx. ₹1.04 Lakh Crores) towards this new project.

By Shivani | May 18, 2023 11:58 AM Read more
LIC Housing to emphasise LAP, double down on recovery efforts

The CEO of LIC Housing Finance, Y. Viswanatha Gowd, mentioned that they are looking to set up 25-30 new branches and build their presence in small towns in states like Madhya Pradesh and Maharastra.

By Aadeesh | May 18, 2023 11:57 AM Read more
SBIFML gets RBI’s nod to acquire up to 10% stake in HDFC Bank

RBI further advised SBI Funds Management Limited (SBIFML) to acquire the stake in the bank within the next 6 months, that is, by November 15, 2023.

By Friyana | May 18, 2023 11:54 AM Read more
1,000 new posts in Sikkim Police, 50% reserved for women: CM

At the 48th State Day of Sikkim, Shri. Prem Singh Tamang also said that the government will provide a monthly stipend of ₹5,000 to women for their 2nd child.

By Sajhyadri | May 18, 2023 11:10 AM Read more
FMCG CEOs: Consumers to benefit from price drops soon

These executives plan to decrease their products’ prices or boost their pack weights, thereby making them more affordable, now that they are obtaining raw materials at lower costs.

By Shivani | May 18, 2023 11:02 AM Read more
Indians consumed 6.1 trillion minutes of online videos: Report

Media Partners Asia, in its report, mentioned that YouTube had the largest share of this consumption in India between January 2022-March 2023 at 88%, raising its viewership to 12%.

By Aadeesh | May 18, 2023 11:00 AM Read more
Yamaha Motor India aims for 20% growth in sales volume

The firm expects to record 6.5 lakh unit sales this year, which will be driven by the post-pandemic recovery in customer sentiment.

By Friyana | May 18, 2023 10:58 AM Read more
Vedanta Resources seeks funding of $500-600 Million

Vedanta Resources Ltd. (VRL) is in talks with global banks including Deutsche Bank AG, JPMorgan Chase & Co., and Barclays Bank PLC. The capital will be used to repay existing debt.

By Shivani | May 18, 2023 10:21 AM Read more
Markets ‘too optimistic’ about inflation risks: IMF First Deputy MD

International Monetary Fund (IMF) First Deputy MD urged global central banks to maintain tight monetary policies, warning that any current relaxations could lead to worse measures later.

By Sajhyadri | May 18, 2023 10:20 AM Read more
E-scooters to get expensive as MHI proposes 25% cut in subsidy

The Ministry of Heavy Industries (MHI) proposed to lower the per unit electric 2-wheeler subsidy from the present 40% to 15%.

By Friyana | May 18, 2023 10:14 AM Read more
SaaS company Whatfix achieves $50 Million ARR

The firm’s Annual Recurring Revenue (ARR) is considered to be significant, being a key metric for such businesses. It was nearly $20 Million (around ₹164 Crores) in 2021.

By Aadeesh | May 18, 2023 10:09 AM Read more
Shriram Finance uncertain about stake sale of housing arm

The firm is deliberating whether to infuse fresh capital into the subsidiary by diluting 10-20% of its stake or an IPO listing.

By Friyana | May 17, 2023 04:59 PM Read more
Mumbai woman duped of ₹3.47 Lakhs in Netflix job offer scam

The victim, named Mihika Ghiyani, came across an Instagram page in April which claimed that Netflix is currently hiring, and spoke to its ‘Executive HR’ to eventually be duped of her funds.

By Aadeesh | May 17, 2023 04:42 PM Read more
Sanctioned/disbursed PMMY loans hit all-time high in FY23

Data from SBI Research revealed that sanctioned loan volume hit a new record of ₹6.23 Crores in FY23 as opposed to its earlier high of ₹6.30 Crores during FY22.

By Aadeesh | May 17, 2023 03:59 PM Read more
60% average variable pay announced for Infosys employees

Emails regarding the same will be sent to employees on Friday, 19th May 2023, and the amount will be disbursed with this month’s salary.

By Friyana | May 17, 2023 03:38 PM Read more
Education in Australia to cost higher for Indian students; Loan indexation rates to cross 7%

From 1st June 2023, student loan indexation will stand at 7.1%, up from 3.9%. This will affect those who’ve gotten a loan through the Higher Education Loan Programme (HELP).

By Shivani | May 17, 2023 03:32 PM Read more
MSME & startup M&As to get approval in 15-60 days

The Ministry of Corporate Affairs said that the revised rules related to Mergers and Acquisitions (M&As) will simplify the process and boost the overall industry.

By Sajhyadri | May 17, 2023 03:30 PM Read more
CBRE: Indian hospitality sector shows resilience & signs of recovery

In the 2020-2023 period, the industry is expected to have noted more than $0.4 Billion (about ₹3,296 Crores) of aggregate capital infusion.

By Friyana | May 17, 2023 02:56 PM Read more
Hallmarking of gold jewellery mandatory before sale

As per the new rules, gold assets and ornaments must now feature a Hallmark Unique Identification (HUID) number to ensure the promised purity and provide a distinctive identity.

By Aadeesh | May 17, 2023 01:50 PM Read more
Centre likely to enforce TDS on tax-free royalty payments

This amendment will especially concern royalty payments sent by IT and Information Technology-enabled Services (ITES) sectors, along with over-the-top (OTT) platforms.

By Shivani | May 17, 2023 01:47 PM Read more
Exporters project a growth of 11-13% for FY24

Apparel and cotton exporters expect their businesses to surge by 8-10% YoY in FY24 as well. These traders have anchored their optimism on an improving order book and the recovery of markets.

By Shivani | May 17, 2023 01:42 PM Read more
3 PSU non-life insurers require capital infusion of ₹17,500 Cr: ICRA

The credit rating agency stated that United India Insurance, Oriental Insurance, and National Insurance’s financial position is delicate and became worse in FY23.

By Aadeesh | May 17, 2023 01:38 PM Read more
IRDAI orders insurers to provide coverage for surrogacy under health policies

This move by the insurance regulator is expected to make the procedure more accessible and affordable for parents considering having children via this route.

By Friyana | May 17, 2023 01:27 PM Read more
Centre bans 928 defence items import to promote domestic growth

Many spares and sub-systems, among others, will undergo a phased import ban from December 2023 to December 2029, to boost the defence manufacturing sector’s self-reliance.

By Sajhyadri | May 17, 2023 12:55 PM Read more
Debt MFs attract inflow of over ₹1 Lakh Crore in April

Liquid funds accounted for nearly 60% of this value, with a net inflow of ₹63,219 Crores. Profiles with shorter maturities are expected to have benefited the most.

By Friyana | May 17, 2023 12:33 PM Read more
BSE relaunches derivative contracts with smaller lot size

The stock exchange relaunched its Bankex and Sensex derivative contracts with a lesser number of Futures and Options and a Monday-to-Friday expiry cycle.

By Sajhyadri | May 17, 2023 12:20 PM Read more
Government likely to set up mechanism to support, monitor progress of startups

This proposal was made after the number of startups in India surpassed 1 lakh. Reportedly, the Government will also use the mechanism to help businesses amidst external headwinds.

By Shivani | May 17, 2023 11:54 AM Read more
Credit Card on UPI to be viable: SBI Card CEO

At present, customers prefer UPI for low-value merchant payments and credit cards for high-value purchases. SBI Card’s CEO believes this will change after UPI's integration.

By Aadeesh | May 17, 2023 11:31 AM Read more
Reliance Jio to register over 50 crore subscribers by FY26

The company added 64 lakh subscribers in Q4FY23. Its Revenue Market Share (RMS) is expected to increase to 47% by FY26.

By Friyana | May 17, 2023 11:12 AM Read more
Tax officers introduce drive to stop fake GST registrations, evasion

The 'Special All-India Drive' will be held between 16th May 2023 to July 15. In this period, tax officers will conduct mandatory verifications and take additional measures to catch defaulters.

By Shivani | May 17, 2023 11:05 AM Read more
Bank NIFTY crosses 44K, 10-year bond yields drop below 7%

According to the government’s consumer price index numbers released on Friday, 12th May 2023, inflation in April declined to an 18-month low of 4.7%, compared to 5.7% in March and the 6.7% FY23 average.

By Aadeesh | May 17, 2023 11:03 AM Read more
IndianOil reports 67% rise in net profit for Q4FY23

Due to refined margins and improved marketing, the firm’s operational revenue surged by 10% to ₹2.26 Lakh Crores while its net profit stood at ₹10,059 Crores.

By Sajhyadri | May 17, 2023 10:50 AM Read more
Air India Express recruits over 250 cabin crew & 280 pilots

The airline held its recent hiring drives from 10th to 15th May 2023, in New Delhi, Bengaluru, and Mumbai, which was attended by around 300 pilots.

By Sajhyadri | May 17, 2023 10:15 AM Read more
Elon Musk to personally approve all hiring at Tesla

In an email to all employees, he informed executives to send him a list of requests pertaining to hiring on a weekly basis and cautioned them to ‘think carefully’ before sending him these.

By Aadeesh | May 17, 2023 10:06 AM Read more
CARE Ratings: Bombay Dyeing’s ability to repay debt is concerning

Bombay Dyeing & Manufacturing Co. Ltd. took loans of ₹500 Crores, ₹2,299 Crores, and ₹56 Crores from Bank of Baroda Ltd., Deutsche Bank AG, and ICICI Bank Ltd., respectively.

By Shivani | May 17, 2023 09:45 AM Read more
Jio-bp introduces new premium diesel in India

The diesel has the potential to allow each truck driver to save up to ₹1.1 Lakhs a year and offers fuel economy benefit of up to 4.3%, the firm claimed.

By Friyana | May 17, 2023 09:40 AM Read more
70% MSMEs believe over 50% of retail sales will soon be UPI-driven

The information was revealed in the study titled ‘Decoding Digital Payments: A Retailer Perspective’, released on Tuesday, 16th May 2023.

By Friyana | May 16, 2023 05:13 PM Read more
Government introduces AI-based portal ‘Sanchar Saathi’ to curb telecom scams

This offering reportedly allows telecom users to block or trace their stolen/lost phones even after a new SIM card is inserted into them, among other benefits.

By Shivani | May 16, 2023 05:12 PM Read more
Tesla execs to visit India, attempt expansion ops beyond China

The discussions will involve the possibility of locally sourcing components for Tesla’s cars and could result in a notable turning point in the relationship between the two parties.

By Aadeesh | May 16, 2023 04:38 PM Read more
KRERA: Projects cannot be deemed complete without occupancy, completion certificates

It said that completed projects will carry the ‘ongoing’ status unless both the Occupancy Certificate (OC) and the Completion Certificate (CC) have been obtained.

By Friyana | May 16, 2023 04:08 PM Read more
Shapoorji Pallonji may raise $1.6 Bn through private credit facility

The firm is also considering selling its assets, including a controlling stake in its engineering firm, which could raise around $2 Billion (nearly ₹16,449 Crores), among other means.

By Aadeesh | May 16, 2023 03:52 PM Read more
Vodafone CEO announces job cuts of 11,000 employees

The company’s new CEO, Margherita Della Valle said that these layoffs will take place over the next 3 years, to create a simpler and leaner organisation.

By Sajhyadri | May 16, 2023 03:40 PM Read more
Amazon to increase seller fees, product listings may get costlier

Seller fees and product return processing charges across several categories like beauty, apparel, groceries, and medicines will be hiked by Amazon.com, Inc. from 31st May 2023.

By Shivani | May 16, 2023 03:26 PM Read more
Blackstone sells $450 Mn worth of stake in IBS Software

On 15th May 2023, private equity firm, Apax Partners LLP-advised funds entered a definitive agreement to purchase the stake.

By Friyana | May 16, 2023 03:02 PM Read more
Morgan Stanley may cut 7% workforce in Asia-Pacific

China took the biggest hit because of its poor relations with the US and reduced economic growth which impacted dealmaking. The bank is expected to begin communications with affected staff soon.

By Aadeesh | May 16, 2023 02:09 PM Read more
India’s housing property sales grew by 48% in FY23

Residential real-estate sales rose to ₹3.47 Lakh Crores during the fiscal year, while the sales volume surged to 36%, accounting for 3,79,095 units sold.

By Sajhyadri | May 16, 2023 01:25 PM Read more
Berger Paints Q4 results out; Consolidated net profit slips by almost 16%

Berger Paints India Limited saw its consolidated net profit plummet to ₹185.7 Crores, down from a year-ago period’s figure of ₹221 Crores. However, its consolidated revenue soared by 11.7% YoY.

By Shivani | May 16, 2023 01:11 PM Read more
PVR INOX to close 50 cinema screens in 6 months

The multiplex operator mentioned that certain properties are either loss-making or are situated in malls that are close to the end of their life cycle with a low chance of revival.

By Aadeesh | May 16, 2023 01:00 PM Read more
S&P Global India Services PMI Business Activity Index soared to 62 in April

After falling to 57.8 in March 2023, it rose in April, upheld by a viable upturn in the insurance and finance segment. Fresh export orders also noted expansion at record levels.

By Shivani | May 16, 2023 12:27 PM Read more
CRED-owned Happay hands pink slips to over 150 employees

This layoff is a part of the start-up’s restructuring exercise. Prior to this development, the enterprise’s headcount stood at 450-500 employees.

By Friyana | May 16, 2023 12:27 PM Read more
Apple looks to manufacture AirPods and not iPads, Macs in India

The Indian government, however, is hopeful that Apple may manufacture Macs here, due to the revised Production Linked Incentive Scheme (PLI) for IT hardware, including increased SOPs.

By Aadeesh | May 16, 2023 12:18 PM Read more
Centre planning to hire retirees across various sectors

Senior citizens could be employed for part-time jobs in mentorship functions and consulting roles in healthcare, education, etc., as per official sources.

By Sajhyadri | May 16, 2023 12:00 PM Read more
Major consumer goods firms to continue high capex, expansion in FY24

Most of this will be dedicated to developing new factories, expanding the capacity of existing ones, or business expansion, such as retail outlets, according to some senior executives.

By Aadeesh | May 16, 2023 11:45 AM Read more
ZestMoney founders quit after PhonePe deal called off

Priya Sharma, Ashish Anantharaman, and Lizzie Chapman will leave Camden Town Technologies Private Limited (ZestMoney) in the next 4 months.

By Shivani | May 16, 2023 11:33 AM Read more
Banks cautious of lending funds to aviation firms

Industry executives revealed that lenders are asking promoters to pledge more private holdings or for increased collaterals, in exchange for credit facilities.

By Friyana | May 16, 2023 11:26 AM Read more
MGNREGS workers to benefit from welfare fund in Kerala

Kerala’s CM Pinarayi Vijayan said that under this employment scheme, workers aged 60+ years will be eligible for pension as part of the fund, including miscellaneous financial aid.

By Aadeesh | May 16, 2023 11:14 AM Read more
Over 6 lakh Indians filed for Schengen visas in 2022

As per official data, the country also faced one of the highest rejection rates at 18%. Slovenia, Malta, and Estonia denied the most visa requests.

By Sajhyadri | May 16, 2023 11:10 AM Read more
Formal job creation under ESI Scheme surged by over 8%

In March 2023, formal job creation surged by 8.1% Month-On Month (MoM) with the addition of about 17.3 lakh fresh workers to the Employees State Insurance Corporation (ESIC).

By Shivani | May 16, 2023 10:23 AM Read more
Tokenised Rupay Cards to now offer CVV-less payments

The National Payments Corporation of India said that people will no longer have to use the Card Verification Value (CVV) and other details for online transactions.

By Friyana | May 16, 2023 10:17 AM Read more
Firms to hire for both new roles & replacements in FY24: Report

About 77% of Indian firms will follow this trend, according to a survey of around 2,100 corporate executives, conducted by Kolkata-based, Genius Consultants Ltd.

By Sajhyadri | May 16, 2023 10:15 AM Read more
Shilpa Shetty invests over ₹2 Cr in Shark Tank fame WickedGud

Bhuman Dani, CEO and Founder of the start-up said that the actor’s influence shall help the firm reach out to more customers and promote conscious consumption.

By Friyana | May 16, 2023 09:25 AM Read more
Outgoing Puma India MD raises ₹430 Cr for his new venture

Convergent Finance LLP invested a majority of this capital in the venture. The remaining amount was raised by other individual investors.

By Friyana | May 15, 2023 07:10 PM Read more
DCB Bank hikes FD and savings account interest rates

According to the bank’s website, it now offers the highest returns of 8% for regular citizens’ FDs, 8.5% for FDs of senior citizens and 8% on savings accounts.

By Sajhyadri | May 15, 2023 07:00 PM Read more
Hero Electric’s IPO to be launched by 2025-26: CEO

Sohinder Gill, the firm’s CEO, added that they hope to reach up to 20 lakh two-wheeler sales in the coming three to five years before the public listing.

By Sajhyadri | May 15, 2023 06:10 PM Read more
SoftBank-backed firms cut costs amid funding winter, lay off 5,000 employees

As per recent data available with SoftBank Corp., a median cost-cutting of 70% was recorded amongst enterprises under the Japanese firm’s portfolio.

By Friyana | May 15, 2023 06:05 PM Read more
Jio & Airtel aim to boost consumer base via IPL

Jio is trying to advertise its latest postpaid plans and new VR headset, while Airtel is trying to increase its 5G services’ advertisement in the tournament.

By Sajhyadri | May 15, 2023 05:25 PM Read more
Hero MotoCorp shares surge by over 3% after firm reveals product launch plans

The automobile major will introduce approximately a dozen new two-wheelers, including Karizma’s return and the new model under its tie-up with Harley-Davidson.

By Friyana | May 15, 2023 05:12 PM Read more
India’s WPI inflation turns negative for 1st time since 2020

In April 2023, the WPI fell for the 11th month in a row, while the inflation rate slumped to –0.92% from March’s 1.34%, due to decreasing commodity prices.

By Sajhyadri | May 15, 2023 04:35 PM Read more
Neobanking start-up Niyo to launch a travel tech platform

It is expected to allow users to book tour packages, concierge services, travel experiences, and apply for visas and travel insurance.

By Friyana | May 15, 2023 04:26 PM Read more
Amazon’s Indian arm fires staff from HR & AWS verticals

Speaking about the fresh round of layoffs, sources revealed around 400-500 workers will be affected across the two verticals of Amazon Retail India Pvt. Ltd.

By Sajhyadri | May 15, 2023 02:50 PM Read more
UPI scam: Delhi-based journalist duped of ₹40,000

He alleged that the culprit hypnotised and convinced him to transfer the amount to him in two separate transactions of ₹20,000 each via UPI.

By Friyana | May 15, 2023 02:42 PM Read more
Manappuram Finance shares rally by 3% after strong Q4 results

At 9:40 am on 15th May 2023, the financial company’s shares on NSE were trading at ₹112.45, days after it announced a 58% surge in net profit for Q4FY23.

By Sajhyadri | May 15, 2023 01:50 PM Read more
Tata Steel aims to double production capacity by 2030, plans to upscale existing facilities

T. V. Narendran, MD and CEO of Tata Steel Limited said that the company sees ample growth opportunities to implement an expansion plan in its existing facilities.

By Friyana | May 15, 2023 01:31 PM Read more
Centre to revamp skilling programme to include AI training

A 16-member committee will be set up that will plan the courses, provide an estimate of expenses, and formulate guidelines for several skilling organisations.

By Sajhyadri | May 15, 2023 12:35 PM Read more
MF collections from NFOs drop by 42% in FY23

On the other hand, the number of New Fund Offers (NFOs) floated in the fiscal under review was higher than those in FY22.

By Friyana | May 15, 2023 12:17 PM Read more
Government to launch system to track, block lost or stolen mobiles

Dr. Rajkumar Upadhyay, CEO and Chairman of the Project Board at C-DOT, said that the system will be made operational across the country during this quarter.

By Sajhyadri | May 15, 2023 11:50 AM Read more
INOX Air Products to infuse ₹3,000 Cr in 10 sites across India

Siddharth Jain, MD of the firm told The Economic Times that the investment will be funded via a mixture of debt and internal accruals.

By Friyana | May 15, 2023 11:27 AM Read more
Creditors' recovery from defaulters soared to 36% of claims in FY23

The Insolvency and Bankruptcy Board of India (IBBI) showed that creditors realised ₹51,425 Crores out of total admitted claims valued at ₹1.42 Lakh Crores.

By Sajhyadri | May 15, 2023 10:45 AM Read more
PharmEasy reports first-ever EBITDA profit of ₹14 Cr in Apr

On the back of this operational profitability, the Mumbai-based enterprise’s parent company, API Holdings Limited has restarted funding talks.

By Friyana | May 15, 2023 10:20 AM Read more
SHRMTech 2023: Experts speak on India’s changing HR industry

Experts attending the two-day conference spoke on the importance of technological solutions like generative AI in improving the efficiency and scope of HR management.

By Sajhyadri | May 12, 2023 05:55 PM Read more
Reliance Retail acquires METRO Cash and Carry India

Valued at about ₹2,700 Crores, the deal stated that Reliance Retail Ventures Limited will take over METRO Cash & Carry India Pvt. Ltd.'s complete real-estate portfolio and its 31 stores.

By Shivani | May 12, 2023 05:13 PM Read more
9-12% salary hike expected in India’s financial services and banking sector

Of the 350 companies’ human resource professionals that responded to the survey, 57% said that the increments will be within the said range.

By Friyana | May 12, 2023 04:59 PM Read more
India’s tourism industry to reach $1 Tn by 2047: Report

The study, called “Charting the Course for India – Tourism Megatrends Unpacked”, further states that data-driven tourism will be a major growth catalyst.

By Sajhyadri | May 12, 2023 04:55 PM Read more
Indian indices hit ‘Bullseye’; Sensex crosses 62K mark

After Sensex commenced the session lower by 132.29 pts at 61,772.23, on 12th May 2023, the index managed to recover from its losses and end at 62,027.90.

By Chanel | May 12, 2023 04:35 PM Read more
Investments & infra in focus for next 25 years: FM

While on a visit to Japan, the Finance Minister told business leaders and investors that these two areas will help India become a developed country by 2047.

By Sajhyadri | May 12, 2023 03:40 PM Read more
Centre mandates gender-neutral hiring for Army Dental Corps

The apex court said that with this, grievances previously filed by the female dental doctors, led by a resident of Coimbatore, Gopika Nair, ‘stands satisfied’.

By Friyana | May 12, 2023 03:30 PM Read more
IPL matches increase viewership of TV, digital platforms

JioCinema saw its total video views exceed the 1,300-crore mark within 5 weeks after the matches started. The average time spent per viewer per match also shot up to 60 minutes too.

By Shivani | May 12, 2023 03:12 PM Read more
Bank of Baroda raises FD rates by 30 bps

Effective from 12th May 2023, the revisions will allow senior citizens to earn up to 7.75% interest. The maximum rate for the general public is reportedly 7.25%.

By Shivani | May 12, 2023 01:44 PM Read more
Twitter introduces encrypted DMs for verified users

The platform said that both the recipient and the sender will have to be ‘blue tick’ users or part of a verified organisation to exchange encrypted messages.

By Sajhyadri | May 12, 2023 01:25 PM Read more
Disney+ Hotstar's paid subscriber base reduced by 8%

During the last quarter, Disney+ Hotstar's paid subscriber base lost 46 lakh users, dropping to 5.29 crores, down from 5.75 crores in the December 2022 quarter.

By Shivani | May 12, 2023 01:06 PM Read more
TagZ raises over ₹16 Cr in pre-series A round

In its official press release, TagZ revealed that actor, Rannvijay Singha also invested in the company and that he will endorse the brand.

By Friyana | May 12, 2023 12:35 PM Read more
WhatsApp takes steps to reduce spam calls by 50%

The messaging platform rolled out several back-end fixes, including improvements to its ML and AI systems, after the IT Ministry threatened to send a notice.

By Sajhyadri | May 12, 2023 12:30 PM Read more
Eicher Motors announces Q4 performance results; PAT hits ₹906 Cr

During the period under review, the firm’s total revenue from operations ticked up by 19.1% to attain ₹3,804 Crore levels, while consolidated net profit surged ₹2,914 Crores.

By Shivani | May 12, 2023 12:09 PM Read more
SC allows Supertech to raise new funds to complete projects

Following this, Mohit Arora, MD of the firm told The Economic Times that the firm looks to gather ₹1,200-1,600 Crores from Oak Tree Financial Services LLC.

By Friyana | May 12, 2023 11:25 AM Read more
Suzuki Motor to make multiple strategic investments in India

The automaker’s Executive VP, Kenichi Ayukawa, said that he wants to try his best to make Indian customers happy and work in line with realising the nation’s goal of ‘Atmanirbhar Bharat’.

By Shivani | May 12, 2023 11:20 AM Read more
Elon Musk finds new Twitter CEO, takes on CTO role

While the identity of the new joinee has not been revealed, employees at the firm have discussed one of the possibilities as Marissa Mayer, Yahoo Inc.’s ex-CEO.

By Chanel | May 12, 2023 10:48 AM Read more
Adani Group plans share sale to raise around $2.5 Bn

The group will sell shares of three of its companies and use the funds for long-term capital expenditure and debt repayments.

By Sajhyadri | May 12, 2023 10:40 AM Read more
IMD issues heatwave warning for Maharashtra

A heatwave warning has been issued for Mumbai for the 4th time this season and for the first time this month. Areas like Raigad, Palghar, and Thane are also included.

By Friyana | May 12, 2023 10:39 AM Read more
Wadia Group obtained loans of $300 Mn from Deutsche Bank

The credit was disbursed after the Wadia Group provided collateral in the form of fixed deposits, which were worth about ₹1,560 Crores.

By Shivani | May 12, 2023 10:22 AM Read more
Google launches Pixel Fold, Pixel Tablet, and Pixel 7A

The Pixel Fold comes with a price tag of $1,799 (about ₹1.47 Lakhs), while both Pixel 7A and Pixel Tablet cost $499 (around ₹40,932 Crores) each and operate on Tensor 2.

By Aadeesh | May 11, 2023 11:56 PM Read more
Tata Capital launches UPI 123Pay for feature phones

The new service will allow customers to make secure payments, using both smartphones and feature phones, for microfinance options and low-value transactions.

By Sajhyadri | May 11, 2023 05:45 PM Read more
Vanguard Group trims Ola’s value by 35% to nearly $5 Bn

The investment management company owns 166,185 shares of ANI Technologies (Ola Cabs), which equates to a stake of about 0.7% in the cab and mobility startup.

By Shivani | May 11, 2023 04:12 PM Read more
SoftBank sells 2% stake worth $120 Mn in Paytm

After this sale, SoftBank will have about 11.17% stake remaining in Paytm or 708 crore shares. Ant Group is also considering bringing down its stake in Paytm to comply with SEBI’s rules.

By Aadeesh | May 11, 2023 02:03 PM Read more
Royal Orchid Hotels’ shares surge by 11%, hit new high

Over the last 5 weeks, Royal Orchid Hotels Ltd. has seen its stock surge by 50%, rebounding by 61% after slumping to ₹232.20 on 3rd April 2023.

By Shivani | May 11, 2023 01:58 PM Read more
Dr. Reddy's shares fall over 5% despite 10x rise in Q4 PAT

The pharma company’s net profit for the quarter surged from ₹87.5 Crores to ₹959.2 Crores but still fell short of the market expectations of ₹1,093.6 Crores.

By Sajhyadri | May 11, 2023 01:55 PM Read more
Google Cloud, Cognizant partner to train 25,000 staff

Under this partnership, Cognizant will also invest in product portfolio expansion and launches of innovation hubs in critical technology centres worldwide to enable collaboration.

By Aadeesh | May 11, 2023 01:06 PM Read more
Indian airlines to ramp up hiring and expansion

Data shows that the industry has around 1,000 to 8,000 white-collar vacancies, including those for administrative staff, customer engagement, and aviation engineers, among others.

By Sajhyadri | May 11, 2023 12:55 PM Read more
SEBI moots higher cap for AIF investments

At present, those with a net worth or an income below a certain limit have to infuse at least ₹1 Crore to invest in Alternative Investment Funds (AIFs).

By Chanel | May 11, 2023 11:13 AM Read more
Finance Ministry to give verdict on ₹3,000 Cr fund infusion

This will be done on the basis of three poorly performing public sector general insurance firms, who were asked to pursue bottomline growth rather than topline, and only underwrite good proposals.

By Aadeesh | May 11, 2023 11:01 AM Read more
Google’s AI chatbot Bard is now open to over 180 countries

The firm’s vice president wrote in a blog post that the chatbot will soon display multimodal content, allowing it to answer prompts in more than just text.

By Chanel | May 11, 2023 10:25 AM Read more
Zee Media to bid for insolvent broadcaster RBNL

Reliance Broadcast Network Limited (RBNL) can receive bids till 14th May 2023, after which the prospective resolution applicants’ provisional list will be issued on May 24.

By Sajhyadri | May 11, 2023 10:20 AM Read more
NARCL looks to buy Parenteral Drugs’ loans worth ₹1,100 Cr

Parenteral Drugs (India) Limited's principal outstanding loan stands at ₹398.2 Crores. However, the claim amount significantly increased due to payment defaults in 2016.

By Shivani | May 11, 2023 10:19 AM Read more
Inflated pay impacts start-up executives’ job search

Many professionals who have been looking to quit troubled start-ups have been finding it difficult to move jobs since founders of such enterprises are cautious about hiring them.

By Aadeesh | May 11, 2023 10:05 AM Read more
Recession fears push FIIs to exit Indian IT stocks

Infosys Technologies Pvt. Ltd. saw its FII holdings slip from 43.08% to 44.57%, while Tata Consultancy Services Limited said that its foreign investor shares slumped to 12.72% from 12.94% in the March quarter.

By Shivani | May 10, 2023 05:16 PM Read more
Intel plans more layoffs to bring down costs

A representative was quoted stating that Intel is focused on detecting efficiency gains and cost reductions via certain function-specific and business workforce downsizings, among others.

By Aadeesh | May 10, 2023 04:56 PM Read more
Mercury Ev-Tech opens new R&D base

The company has also started making batteries through its subsidiary, PowerMetz Energy Pvt. Ltd. and aims to increase production to 175 units per day.

By Sajhyadri | May 10, 2023 04:55 PM Read more
India recorded 7.88 lakh stillborn, neonatal, & maternal deaths in 2020: UN Report

The data revealed that the country tops the list of 10 nations that collectively account for 60% of such deaths along with 51% of all live births worldwide.

By Sajhyadri | May 10, 2023 03:30 PM Read more
MG Motor releases 5-year roadmap; Likely to pursue IPO by 2028

The organisation is exploring various pathways for its debut, like selling a certain percentage of the company stake to strategic investors and raising funds via private equity.

By Shivani | May 10, 2023 03:29 PM Read more
Appen rolls out cost-cutting plan, enters generative AI

The firm’s earnings took a hit in 2022 after spending cuts by its certain major customers, like Google LLC, Meta Platforms Incorporation-owned Facebook, and Amazon.com Inc.

By Chanel | May 10, 2023 03:16 PM Read more
Morgan Stanley: Credit loss impact on loans likely to be between 1-2.5%

The firm also stated that the potential impact on these lenders’ net worth may range between 5-20%. Some banks have revealed their probable impact to be 4-5% of loans.

By Aadeesh | May 10, 2023 03:03 PM Read more
Suniel Shetty launches new food delivery app ‘Waayu’

Launched in Mumbai on 9th May 2023 by brand ambassador and stakeholder Suniel Shetty, the venture aims to support restaurant partners by charging zero commission fees.

By Shivani | May 10, 2023 02:35 PM Read more
DoT deactivates 2.25 lakh fraudulent SIM cards in Bihar & Jharkhand

Telecom service providers also blacklisted around 517 Point of Sales that had apparently resorted to illegal and unethical measures while issuing the cards.

By Sajhyadri | May 10, 2023 02:30 PM Read more
Online hiring for white collar jobs fell by 6% in April

The foundit Insights Tracker also revealed that in spite of economic uncertainties, hiring activities rose significantly in April, while the market for emerging and new jobs improved.

By Aadeesh | May 10, 2023 01:50 PM Read more
IndusInd Bank surges by nearly 2% after securing UBS upgrade

After securing a double upgrade from SEBI-registered stockbroker UBS Securities India Private Limited, the shares of IndusInd Bank Ltd. rallied by 1.45% to hit ₹1,156 apiece.

By Shivani | May 10, 2023 01:04 PM Read more
JSW Infrastructure plans IPO worth ₹2,800 Cr

The JSW Group’s port operations arm has filed a Draft Red Herring Prospectus with SEBI and will utilise these proceeds to clear its debt and fund expansion projects.

By Sajhyadri | May 10, 2023 01:00 PM Read more
India, Israel sign agreement to provide jobs to 42,000 workers

This move is anticipated to help manage the rising cost of living and provide assistance to thousands of families waiting for nursing care.

By Aadeesh | May 10, 2023 12:59 PM Read more
Paytm Payments Bank introduces new UPI features

On 9th May 2023, the firm announced plans to roll out new features, including RuPay Credit Card on UPI, Split Bill, and UPI Lite for iOS devices, among others.

By Shivani | May 10, 2023 12:19 PM Read more
Start-up hiring demand rose 19% YoY in April: Report

As per the report by foundit, the country had more than 19,000 new ventures pre-pandemic. In 2022, this figure surpassed 80,000.

By Chanel | May 10, 2023 12:17 PM Read more
India’s pension scheme returns better than benchmarks: PFRDA

Deepak Mohanty, Chairman of the Pension Fund Regulatory and Development Authority (PFRDA) said that the national pension scheme offers annual returns of 9-12%.

By Aadeesh | May 10, 2023 12:14 PM Read more
Pidilite Industries confident of better margins from Q1FY24

Bharat Puri, MD of the firm, said that they will reach an EBITDA margin of 20-24%, owing to a drop in raw material costs and recovery in demand.

By Sajhyadri | May 10, 2023 12:00 PM Read more
Gold prices improve by ₹450 to ₹61,300/10 grams

The precious metal closed at ₹60,850 per 10 grams in the previous trade session, while silver declined by ₹380 to ₹77,400 per kg.

By Aadeesh | May 10, 2023 11:35 AM Read more
US corporate bankruptcies highest since 2010

According to data from S&P Global, the number of US firms that have declared bankruptcy so far in 2023 is much more than any year’s first four months since 2010.

By Aadeesh | May 10, 2023 11:33 AM Read more
Byju’s plans to raise $1 Bn amidst funding winter

If this potential fundraising comes through, it will be one of the biggest funding rounds in recent history amidst macroeconomic uncertainty and an ongoing funding winter.

By Chanel | May 10, 2023 11:26 AM Read more
ONDC reports stagnated e-commerce sales growth, impacted by tech snags

While Open Network for Digital Commerce (ONDC) has expanded its operations to now enjoy traction of around 20,000 orders every day, about 97-98% of these orders are hyperlocal grocery deliveries.

By Shivani | May 10, 2023 11:20 AM Read more
UK firms ramp up hiring of temporary staff

Hiring of permanent staff sharply fell in April 2023, while costs incurred from temporary workers rose to fresh highs, a report from KPMG and REC showed.

By Sajhyadri | May 10, 2023 11:05 AM Read more
NPPA mulls making vital health supplements affordable

The National Pharmaceutical Pricing Authority (NPPA) plans to cap the prices of medicines like vitamins A and C, anti-tetanus immunoglobulin, and glycerine.

By Chanel | May 10, 2023 10:41 AM Read more
55.6 crore Indians aided by national social security schemes: FM

Launched eight years ago, these plans include the Atal Pension Yojana, Pradhan Mantri Suraksha Bima Yojana, and Pradhan Mantri Jeevan Jyoti Bima Yojana.

By Sajhyadri | May 10, 2023 10:15 AM Read more
RBI mandates citizens to pay forex cards’ fees, charges in rupees

This regulation applies to forex prepaid cards, travel cards, and store value cards, which will come with their respective transaction and usage limits.

By Shivani | May 10, 2023 10:14 AM Read more
Rukart and SBI tie up to offer affordable loans

These lending options will help farmers and rural retailers buy Rukart’s ‘Subjee-Cooler’, which is used to increase the shelf life of vegetables and fruits.

By Sajhyadri | May 09, 2023 05:35 PM Read more
Pune man loses ₹96 Lakhs to an online scam

The fraudsters asked the victim to invest large amounts of money consistently, promising to reward him with a large return, only to cut off all contact afterwards.

By Shivani | May 09, 2023 05:20 PM Read more
iPhone manufacturer Foxconn acquires 300-acre land in Bangalore

According to the firm’s statement, filed with the London Stock Exchange, the land located in Devanahalli was acquired for about $37 Million (around ₹303 Crores).

By Friyana | May 09, 2023 04:14 PM Read more
Apple raises $5.25 Bn in 5-part bond sale

According to sources, the tech giant will use the sale proceeds for corporate operations, such as debt repayment, dividend payments, stock repurchases, etc.

By Sajhyadri | May 09, 2023 03:25 PM Read more
Fitch Ratings revises its GDP forecast for India to 6%

The firm expects the economy to rebound to 6.7% in FY25 as against the 6.9% projected previously, lower than 7%, the estimate made by the agency for FY23.

By Friyana | May 09, 2023 03:19 PM Read more
Axis Bank facilitates UPI for RuPay credit cards

This feature is anticipated to ensure greater flexibility to customers in payment options and will function similarly to linking one’s bank account to their UPI.

By Aadeesh | May 09, 2023 03:14 PM Read more
Canara Bank announces Q4 results; consolidated net profit surpassed ₹3,336 Crores

On 8th May 2023, the State-administered bank revealed that its consolidated net profit surged by 74%, owing to headwinds including declining provision costs and higher core income.

By Shivani | May 09, 2023 02:58 PM Read more
WhatsApp scam: International fraudsters target Indian users

In the two types of such frauds, scammers may pose as representatives of popular firms to lure victims or approach them via unsolicited video calls.

By Aadeesh | May 09, 2023 02:06 PM Read more
FM: Financial sector’s stability is a shared responsibility of regulators

Smt. Nirmala Sitharaman mentioned this at the Financial Stability and Development Council’s (FSDC) 27th meeting, held on Monday, 8th May 2023.

By Friyana | May 09, 2023 01:55 PM Read more
Razorpay parent entity set to relocate to India from US

The payments firm, which had to register itself abroad after raising capital from Silicon Valley investors, hopes to move back and list in India.

By Sajhyadri | May 09, 2023 01:45 PM Read more
ONDC threatens Swiggy, Zomato; Triggers price war via discounts

Eateries onboarded with the government platform are offering discounts of 30%-80%, allowing customers to pay through platforms like PhonePe, Paytm and Magicpin.

By Sajhyadri | May 09, 2023 12:55 PM Read more
MakeMyTrip, Microsoft partner to enable voice-assisted bookings

This feature will utilise Microsoft’s Azure Cognitive Services and Azure OpenAI Service to drive the in-platform stack. MakeMyTrip plans on expanding this feature to Indian languages.

By Aadeesh | May 09, 2023 12:54 PM Read more
Meta, Truecaller to rollout caller identification feature for WhatsApp

Co-Founder and CEO of Truecaller International LLP, Alan Mamedi revealed that the service is presently in its beta phase and may roll out globally later this month.

By Friyana | May 09, 2023 12:51 PM Read more
WestBridge Capital to invest around ₹800 Crores in Milky Mist

After the deal is closed, it will boost Milky Mist’s valuation to around ₹7,000 Crores. Negotiations between the two parties have reportedly been going on since 2022.

By Shivani | May 09, 2023 12:12 PM Read more
Mankind Pharma’s shares rise further after robust debut

The firm’s shares opened at ₹1,300/equity share on BSE, which is over 20% or ₹280 higher than its IPO price of ₹1,026-1,080/share, during the trade session on Tuesday, 9th April 2023.

By Aadeesh | May 09, 2023 12:11 PM Read more
India Inc. hiring employees returning after a career break

Several corporate sectors are hiring such people believing that these individuals can be quickly onboarded and assume key roles even with little guidance.

By Sajhyadri | May 09, 2023 12:10 PM Read more
General Atlantic to make investments worth over ₹8,000 Cr in India annually

The private equity firm will bet on companies that are contributing to the increase in technology usage and expansion of financial inclusion.

By Friyana | May 09, 2023 11:48 AM Read more
Air India extends VRS deadline to May 31

The airline has also informed that the acceptance of the release dates and VRS applications will be subject to the management’s discretion.

By Chanel | May 09, 2023 11:27 AM Read more
95% rise in car sales to fleet operators in FY23

As per estimates, 1.37 lakh vehicles were sold to cab service aggregators in FY23, which is an increase of 95% from the figure noted in FY22.

By Friyana | May 09, 2023 11:18 AM Read more
SEBI’s plan to let firms conduct refunds rejected by investor fund

At a consultation with stakeholders, SEBI proposed that the reimbursement procedure of unclaimed assets could be based on RBI’s Depositor Education and Awareness Fund (DEAF).

By Aadeesh | May 09, 2023 11:17 AM Read more
Invesco trims Swiggy’s share value by around 33%

As of 31st January 2023, the US-based investment management firm set the value of the delivery company’s shares at $3,305 (around ₹2.7 Lakhs) apiece.

By Sajhyadri | May 09, 2023 10:15 AM Read more
More Indians to pursue EB-5 visas post pandemic

To successfully obtain this visa, applicants must first spend a minimum of $800,000 (approx. ₹6.54 Crores) on creating 10 or more employment opportunities.

By Shivani | May 09, 2023 10:03 AM Read more
LinkedIn sacks 700+ employees, pulls down China-based app

In a letter addressed to employees, the firm’s CEO highlighted that this move will feature job cuts in support, sales, and operation teams, and is being done to streamline its operations and make quicker decisions.

By Aadeesh | May 09, 2023 09:52 AM Read more
Mutual funds show higher investments in InvITs and REITs

Exposure of such funds to Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) has considerably increased since the pandemic struck in 2020.

By Sajhyadri | May 08, 2023 04:35 PM Read more
Luxury housing sales surge by 151% YoY in Jan-Mar 2023

Delhi-NCR region reported a 216% high-end housing unit sales growth in Q1 2023 as against the year-ago period. Hyderabad noted an 800% rise, while Kolkata surged by 100%.

By Friyana | May 08, 2023 04:24 PM Read more
India Inc.’s Q4FY23 profit growth slowest in past 11 quarters

This result is considered to be the firms’ worst performance since the April-June period in 2020. Their cumulative net profit rose by 47.6% YoY in FY22’s fourth quarter, and by 3.4% during Q3FY23.

By Aadeesh | May 08, 2023 04:09 PM Read more
IT professionals find upskilling beneficial in boosting their careers: Survey

Around 87% of respondents said that upskilling programmes have helped them gain skills with training, which will boost their careers.

By Friyana | May 08, 2023 03:44 PM Read more
Centre likely to see high surge in RBI dividend for FY24

According to economists, RBI’s higher earnings will help balance the risks in tax revenue collections seen due to slower nominal GDP growth than expected.

By Sajhyadri | May 08, 2023 03:35 PM Read more
J&K Bank offered over 92% employment benefits to local youth

At a media interaction, Baldev Prakash, MD and CEO of J&K Bank, revealed that this development was observed during the Union Territory (UT) government’s landmark schemes.

By Aadeesh | May 08, 2023 03:18 PM Read more
Silver ETFs popular among investors, asset base reaches nearly ₹1,800 Cr

The investment class has managed to register this figure within 18 months of being introduced in India by SEBI, the market’s regulator.

By Friyana | May 08, 2023 02:17 PM Read more
India’s UPI, Aadhaar infra worth emulating by other nations: IMF paper

The organisation’s paper mentioned that when India’s Digital Public Infrastructure (DPIs) are used together, they enable cashless, paperless, digital, and privacy-oriented digital access to multiple services.

By Aadeesh | May 08, 2023 01:53 PM Read more
Fintech start-up Bueno Finance acquired by BetterPlace

The start-up was looking to raise more funds, while BetterPlace was aiming to enter the lending segment, a person aware of the matter revealed.

By Friyana | May 08, 2023 01:39 PM Read more
3one4 Capital raises $200 Mn in 4th early-stage fund

The venture capital investor’s fourth fund for technology-led start-ups includes assets under management worth over $750 Million (about ₹6,132 Crores), as per company officials.

By Sajhyadri | May 08, 2023 01:15 PM Read more
Paytm announces Q4 results; Revenue up by 52% YoY

The fintech company’s overall revenue ticked up to hit ₹2,335 Crores. Its net losses slipped to ₹168 Crores, down from standing at ₹763 Crores in March 2022.

By Shivani | May 08, 2023 12:39 PM Read more
India Inc. turns to defence veterans for occupying job roles

Here, such personnel come with vital skills like leadership, integrity, teamwork, accountability, problem-solving, and risk management, among others, which firms are on the lookout for.

By Aadeesh | May 08, 2023 12:35 PM Read more
Britannia shares sore as firm reports robust Q4 earnings

In FY23, a 47% YoY net profit growth was charted by the firm, which surpassed analysts’ estimates. It stood at ₹558.6 Crores, as against the ₹498.4 Crores noted in FY22.

By Friyana | May 08, 2023 12:20 PM Read more
Brokerage firms predict limited core business growth for Bharat Forge

Nuvama Institutional Equities and Kotak Institutional Equities have maintained their respective ‘reduced’ and ‘sell’ ratings on the stock, with unchanged prices.

By Sajhyadri | May 08, 2023 12:15 PM Read more
JSW Paints’ parent firm considers selling former’s stake amid expansion plans

The sale is being done as part of its attempt to further build capacity and create a nationwide presence for itself to enter into competition with its larger rivals.

By Aadeesh | May 08, 2023 11:46 AM Read more
10% hike expected in insurance premiums

International reinsurers have hiked their rates by about 40-60%, after being impacted by Europe’s geopolitical conditions and global weather-related setbacks.

By Chanel | May 08, 2023 11:38 AM Read more
Daikin India aims to become a $2 Bn company in 3 years

The Chairman and MD of Daikin Airconditioning India Private Limited said that they look to turn India into a production hub for its African and Middle Eastern markets.

By Friyana | May 08, 2023 11:37 AM Read more
Report: AI can slash about 300 million full-time jobs

The CEO of International Business Machines Corp. (IBM) told Bloomberg that automation and AI may replace 30% of the total jobs in the next 5 years.

By Shivani | May 08, 2023 11:36 AM Read more
IRDAI seeks to tighten norms for insurance advertisements

The regulator has drafted a proposal to impose higher responsibility on senior insurers’ management regarding the design and acceptance of media campaigns.

By Sajhyadri | May 08, 2023 11:10 AM Read more
Home buyers may get relief from bankruptcy crisis

At present, these properties are deemed as a part of the builder’s inventory, subject to resolution under the Insolvency and Bankruptcy Code (IBC), 2016.

By Aadeesh | May 08, 2023 11:10 AM Read more
Mass layoffs are ‘last resort’: Apple CEO

According to CNBC, the iPhone maker is in a better position, unlike its rivals, since it did not conduct hiring sprees during the COVID-19 pandemic.

By Chanel | May 08, 2023 10:50 AM Read more
Tata Starbucks aims for double-digit sales growth

In a conversation with The Economic Times, Sushant Dash, the CEO of the firm, said that the company will achieve this via menu innovations.

By Friyana | May 08, 2023 10:41 AM Read more
Senior Credit Suisse staff received unreported bonuses: Report

The SonntagsZeitung, a Swiss newspaper revealed that most of these surplus wages, which were not shown on the firm’s annual reports, had started back in 2008.

By Sajhyadri | May 08, 2023 10:35 AM Read more
FMCG companies project higher margins amidst lowering input costs

This can be attributed to tailwinds such as easing inflation, premiumisation of certain categories, and urban customers’ rising ability to afford price hikes.

By Shivani | May 08, 2023 10:33 AM Read more
Online gaming firms not in support of self-regulatory organisation

The gaming industry has been charting out plans for a self-regulator under the Ministry of Electronics and Information Technology’s (MEITY) proposed guidelines in April 2023.

By Aadeesh | May 08, 2023 10:28 AM Read more
Athena Investments launches new Enhanced Equity Fund

Athena Enhanced Equity Fund is the 2nd such scheme under the Trust Group’s fund, which uses a core-satellite approach to improve equity investment returns.

By Sajhyadri | May 07, 2023 02:15 PM Read more
Government modifies anti-money laundering laws

The revisions will now take into the act's jurisdiction all transactions facilitated by Chartered Accountants, Company Secretaries, along with Cost and Works Accountants.

By Friyana | May 05, 2023 07:30 PM Read more
Domestic investors now command over 25% of Dalal Street

Domestic Institutional Investors (DIIs), retail investors, and High-Net-Worth-Individuals (HNWI) share on NSE exceeded 25% for the first time, in Q4FY23.

By Shivani | May 05, 2023 05:54 PM Read more
Bears rule the market; Sensex shed 694.96 pts

During Friday’s session, on 5th May 2023, the market recorded its highest single-day low within the past two months, forcing Sensex to settle at 61,054.29.

By Chanel | May 05, 2023 05:33 PM Read more
Meesho hands pink slips to nearly 15% of its workforce

Vidit Aatrey, Co-Founder and CEO of the company, informed the staff members of the decision to let go of 251 employees in an e-mail on Friday, 5th May 2023.

By Friyana | May 05, 2023 05:31 PM Read more
Airtel devises AI-based solution for detecting fraud messages

According to an open letter by the telco to P. D. Vaghela, Chairman of TRAI, this solution will feature an anti-spam filter that is capable of blocking about 20 lakh messages each day.

By Aadeesh | May 05, 2023 03:34 PM Read more
TVS Emerald & Columbia Pacific to build new senior living project in Chennai

This 50-50 joint venture project by the two firms will be set up at Thaiyur. The housing society will occupy an area of around 2.7 acres and comprise 250 homes.

By Sajhyadri | May 05, 2023 02:10 PM Read more
10 fraudsters posing as Army officials arrested for duping people

Security agencies busted a gang of fraudsters after the Pune-based, Southern Army Command’s Military Intelligence (MI) unit received intel on the matter.

By Friyana | May 05, 2023 02:06 PM Read more
Ather, Ola Electric to reimburse e-scooter customers with charger costs

Through the initiative, Ather Energy Pvt. Ltd. and Ola Electric Mobility Pvt. Ltd. want to support the growth of India's EV ecosystem, boost customers’ trust, and add value.

By Shivani | May 05, 2023 01:07 PM Read more
India to revise power policy, could halt new coal plant capacity

As per government sources, these changes will help the country tackle climate change. Meanwhile, they do not apply to the units that have already been approved or are in development.

By Sajhyadri | May 05, 2023 12:40 PM Read more
Too Yumm brand enters Indian snacks category

Through this move, the parent company, RPSG Group is looking to establish a stronger presence for itself in the FMCG segment and achieve ₹100 Crores in sales during the first year of launch.

By Aadeesh | May 05, 2023 12:18 PM Read more
Cognizant to fire 3,500 workers amid fears of revenue drop

Highlighting the prevalent problems in the IT industry, Ravi Kumar S., the firm’s CEO, added that they will also give up office space of several lakh sq. ft.

By Sajhyadri | May 05, 2023 11:00 AM Read more
India’s service sector output soared to hit 13-year high in April

While the S&P Global India Services PMI Business Activity Index appreciated to 62, surging from 57.8 in March, India’s unemployment rate hit its 4-month high of 8.11% in April.

By Shivani | May 05, 2023 10:54 AM Read more
Tata Power posts 48% profit growth for Q4FY23

The firm’s net profit grew to ₹939 Crores and its consolidated revenue rose to ₹12,755 Crores, up by 6%. Meanwhile, its consolidated EBITDA hiked by 38% to ₹3,101 Crores during the quarter.

By Aadeesh | May 05, 2023 10:54 AM Read more
WHO survey reports signs of post-pandemic recovery in health systems

As of early 2023, nations saw lower disruptions in the provision of routine health services. They also noted a need to further invest in medical system recovery for the future.

By Friyana | May 05, 2023 10:42 AM Read more
HDFC Bank to open 675 new branches in rural, semi-urban areas

Through this initiative, HDFC Bank looks to attract roughly 1 lakh new customers and double its business in these regions.

By Friyana | May 04, 2023 06:18 PM Read more
Google staff reacts to CEO’s high salary amidst mass layoffs

As per an exchange filing, Google’s CEO, Sundar Pichai’s annual wage rose to about $226 Million (around ₹1,847 Crores), over 800 times more than the firm’s average employee salary.

By Sajhyadri | May 04, 2023 06:00 PM Read more
Kiwi rolls out new ‘Credit on UPI’ service

The company has received certification from NPCI, becoming the first app in India to offer such a service. It will be done via the issuance of RuPay credit cards in association with banks.

By Aadeesh | May 04, 2023 05:38 PM Read more
Qualcomm to lay off 5% of global workforce soon

Cristiano Amon, the firm’s CEO, explained that they are undertaking these cost-cutting measures and streamlining operations to cope with reduced sales.

By Sajhyadri | May 04, 2023 04:15 PM Read more
Nostalgic netizens react to Mumbai’s Essel World shutting down

An announcement on the theme park’s website revealed the news early in May 2023. Nostalgic citizens took to social media, lamenting Essel World’s shutting down.

By Sajhyadri | May 04, 2023 03:35 PM Read more
Gaming tech firm Unity to sack 600 employees

Unity Technologies, Inc. announced plans to hand out pink slips to around 8% of its workforce as it undergoes ‘corporate restructuring’ to ensure long-term growth and profitability.

By Shivani | May 04, 2023 03:33 PM Read more
RBI provides NBFC license to fintech firm GetVantage

As per its statement on 4th May 2023, the firm claims to have become India’s only revenue-based alternative funding and financing platform to get an NBFC license.

By Friyana | May 04, 2023 02:54 PM Read more
US Fed raises interest rates by 25 bps to counter inflation

The central bank has carried out the fastest rate hikes till date, increasing it 10 times since March 2023. It aims to bring down inflation to under 2%.

By Sajhyadri | May 04, 2023 02:10 PM Read more
Several Pune techies fall for cyber frauds in recent months

IT associations believe that this may be due to the interest in earning quick money and a lack of awareness amongst software engineers despite being well-trained and educated.

By Aadeesh | May 04, 2023 01:56 PM Read more
Magicpin fulfils over 10,000 orders per day on ONDC

Samast Technologies Private Limited (Magicpin) achieved this feat through its own seller portal and those of other start-ups.

By Friyana | May 04, 2023 01:38 PM Read more
New SUVs set to hit the Indian roads by 2025

As per industry estimates, the SUV segment is likely to see a surge in its overall market share from the present 43% to 48% by the end of FY25.

By Friyana | May 04, 2023 01:08 PM Read more
EV ride-sharing startup BluSmart bags funding of $42 Mn

About $37 Million (nearly ₹302 Crores) was pooled via equity with the remaining $5 Million (approx. ₹40.85 Crores) being secured through venture debt.

By Shivani | May 04, 2023 01:00 PM Read more
Labour Ministry revises employers PF contribution for higher wages

The ministry explained that the extra sum of 1.16% will come from the existing 12% employers’ contribution, adding that it will ease the pressure on employees.

By Sajhyadri | May 04, 2023 12:40 PM Read more
AI talent war moves to India, doubled salaries offered

Companies in non-tech fields are also increasing staffing in order to steer clear of the impact of the shifts in their industries. However, there is more demand for talent in India than supply.

By Aadeesh | May 04, 2023 12:28 PM Read more
TCS developing ChatGPT-like AI software for code generation

The firm’s COO, N. Ganapathy Subramaniam, said that they could integrate this generative AI solution with their MasterCraft platform for low-code software development.

By Sajhyadri | May 04, 2023 11:10 AM Read more
UPI merchant payments likely to hit $1 Trillion by FY26

Bain & Company mentioned in its report, called ‘Future of India Retail Payments’, that growth in merchant payments will be led by increased awareness, and an improvement in UPI’s merchant acceptance, among others.

By Aadeesh | May 04, 2023 11:01 AM Read more
Cognizant announces March quarter results; net profit up by 3% YoY

Owing to lower costs of administration and a considerable rise in other inflows, net profit surged to hit $580 Million (approx. ₹4,739 Crores) during the period under review.

By Shivani | May 04, 2023 11:00 AM Read more
Startups slashed employee expenses by $700 Mn in FY23

These Indian firms saved around $500 Million by laying off workers and about $200 Million by cost-cutting in sales bonus/commission, variable pay, etc.

By Sajhyadri | May 03, 2023 03:00 PM Read more
Shemaroo, NEAR Foundation partner to improve Web 3.0 digital infra

This partnership is anticipated to provide new opportunities for transparency, immutability and decentralisation within the entertainment and media industry.

By Aadeesh | May 03, 2023 02:58 PM Read more
Demand for co-working spaces, residential properties on the rise

Co-working spaces share in the market hit 27% in Q1 2023 from being at around 14% in Q1 2019. Housing sales in Bengaluru, Chennai, Ahmedabad and Delhi-NCR shot up by 12% as well.

By Shivani | May 03, 2023 02:42 PM Read more
UPI transaction volumes hit an all-time high of 890 crores in April

The aggregate volumes rose by 59%, while the cumulative value of payments made stood at ₹14.07 Lakh Crores as it surged by about 43% YoY.

By Friyana | May 03, 2023 01:16 PM Read more
Ford's March quarter performance details out

Owing to strong demand for SUVs and trucks, the company logged robust revenue and profit figures. However, growth was weighed down by its EV unit's losses.

By Shivani | May 03, 2023 12:27 PM Read more
Credit card dues surged by 31% in FY23, spends rose 47% YoY

The outstanding rose by ₹45,866 Crores to ₹1.94 Lakh Crores last fiscal, highlighting the surge in discretionary spending by consumers through unsecured loans.

By Sajhyadri | May 03, 2023 11:55 AM Read more
RBI data: Banks chart over 15% credit growth in FY23

This surge was fuelled by an increase in personal loan disbursals, along with credit provided to the services, and agriculture and allied activities sectors.

By Friyana | May 03, 2023 11:54 AM Read more
Online job fraud: Victims duped in Hyderabad, Gurgaon

Victims were asked to do tasks such as liking and subscribing to content on YouTube or Instagram and invest their money subsequently. They were asked to start with small amounts, and got returns, initially.

By Aadeesh | May 03, 2023 11:39 AM Read more
GoFirst files for insolvency, suspends all flights for 3 days

The recent grounding of over 50% of its aircraft has forced the airline to file for voluntary insolvency before the National Company Law Tribunal (NCLT).

By Shivani | May 03, 2023 10:45 AM Read more
HDFC to sell its education loan subsidiary Credila

Sources revealed that the decision was taken after the RBI dictated that Credila must be either merged with HDFC Bank or HDFC or be sold off to other parties.

By Sajhyadri | May 03, 2023 10:30 AM Read more
Bharti Airtel set to merge Sri Lanka ops with Dialog Axiata

As part of the arrangement, Airtel is set to obtain a stake in Dialog, which will represent the fair value of Bharti Airtel Lanka, its wholly-owned subsidiary.

By Aadeesh | May 03, 2023 10:24 AM Read more
Samsung bans use of ChatGPT after discovering data leak; AI risk concerns on the rise

Engineers at Samsung uploaded an internal source code to ChatGPT, which led to the data being accidentally leaked. The firm notified employees of the ban on 1st May 2023.

By Friyana | May 03, 2023 10:18 AM Read more
60-year-old man loses over ₹1.51 Lakhs to cyber fraud

The man stated that he was conned by a woman named Chen Erin who promised him a profit of ₹20 Lakhs if he invested in a trading firm based in Malaysia.

By Sajhyadri | May 02, 2023 06:10 PM Read more
Zypp Electric deploys 2,000 e-scooters in Bangalore

The firm also recruited 2,000 delivery executives, boosting job opportunities in the gig economy, while offering efficient last-mile deliveries.

By Friyana | May 02, 2023 06:05 PM Read more
Top cities report nearly 7% rise in average housing prices

The sharpest uptrend in real estate prices was reported in Bangalore, where the average rate appreciated by 10% over the past year.

By Friyana | May 02, 2023 04:25 PM Read more
Mahindra Finance’s shares rally by over 7% after Q4 results

The firm’s AUM rose YoY by 27%, as of 31st March 2023, amounting to ₹82,770 Crores. This was mainly due to continued growth in rural demand.

By Sajhyadri | May 02, 2023 03:25 PM Read more
ADB to consider issuing rupee-denominated bonds

Decisions regarding the matter will be taken based on the demand, supply, and market condition, the President of the Asian Development Bank (ADB) mentioned.

By Friyana | May 02, 2023 03:22 PM Read more
IBM: 7,800 jobs to be replaced by AI in the next 5 years

The firm looks to pause hiring for roles that could be replaced by AI, majorly in back-office functions like human resources, which will be slowed or suspended.

By Friyana | May 02, 2023 01:51 PM Read more
‘Make more larger than life films for theatrical releases’: PVR MD

Speaking on the OTT vs theatrical release debate, Ajay Bijli urged stakeholders to try and ensure that theatres remain the key source of film monetisation.

By Sajhyadri | May 02, 2023 01:15 PM Read more
Vice Media may declare bankruptcy, continues to look for alternatives

According to sources, Fortress Investment Group, the digital media disruptor’s debtholder, could end up controlling the firm in case of such an event.

By Friyana | May 02, 2023 12:53 PM Read more
IIHL receives funding offers of ₹50,000 Cr to acquire Reliance Capital

Some potential backers include Standard Chartered PLC, Barclays Bank PLC, Apollo Global Management, Inc., Farallon Capital Management, L.L.C., Värde Partners, Inc., etc.

By Shivani | May 02, 2023 12:45 PM Read more
Morgan Stanley to lay off 3,000 more employees by June

People familiar with the matter said that senior managers are likely to fire around 5% of staff, as the bank tries to survive a prolonged deal-making slump.

By Sajhyadri | May 02, 2023 12:10 PM Read more
Leading automobile firms chart double-digit growth in wholesales

This has been attributed to the robust demand in the market, particularly in the Sports Utility Vehicles (SUVs) segment. Meanwhile, retail sales growth stood at 3.5%.

By Friyana | May 02, 2023 12:02 PM Read more
Indian job market to grow by 22% in 5 years: WEF Report

The World Economic Forum (WEF)’s ‘Future of Jobs’ report also stated that the leading roles for industry transformation in India will be data scientists, analysts, and specialists in AI and ML.

By Sajhyadri | May 02, 2023 11:25 AM Read more
Myntra launches FWD portal, aims to attract nearly 1 crore Gen-Z shoppers

This new product was integrated into the official mobile application of Myntra, due to which the app was inoperative for nearly 11 hours on 1st May 2023.

By Friyana | May 02, 2023 11:22 AM Read more
Manufacturing PMI hits 4-month high at 57.2 in April

As per a private monthly survey, this was led by robust growth in new businesses, moderate price pressures, and a better supply-chain environment, among others.

By Chanel | May 02, 2023 11:16 AM Read more
Brookfield Asset Management acquires 51% stake in Rostrum Realty

Likely processed at an enterprise value of about ₹5,000 Crores, the deal involves 4 luxurious commercial properties situated near Gurugram, the Delhi airport, and Ludhiana.

By Shivani | May 02, 2023 11:16 AM Read more
Indian Railways earned ₹2,242 Cr by suspending senior citizen concessions in FY23

In its reply to an RTI query, Railways stated that it had withheld the concessions of around 8 crore senior citizens from April 1, 2022, to March 31, 2023.

By Sajhyadri | May 02, 2023 10:35 AM Read more
Swiggy shuts down grocery delivery service ‘Handpicked’

The cloud-enabled grocery delivery venture sold products like Coca-Cola Cherry, locally made kombucha, and methi khakhra sourced from Gujarat, among others.

By Shivani | May 02, 2023 10:25 AM Read more
Job demand slipped 5% in April amidst IT hiring corrections: Report

The Naukri JobSpeak Report showed that white-collar job demand stood at only 2,715 vacancies. In total, the platform noted 2,863 postings compared to last year.

By Chanel | May 02, 2023 10:23 AM Read more
Auto firms to ramp up Engineering, B-school campus hiring

The demand for talent has increased as firms look to renew their bets in the passenger vehicle segment with India emerging as a leading market.

By Friyana | May 02, 2023 10:23 AM Read more
Weekly Markets: Sensex reclaimed 60K level, Nifty above 18,000

After failing to recover its gains last week, Sensex managed to reclaim the 60,000 level. The index continued this momentum to end above 61,000, on 28th April 2023.

By Chanel | April 28, 2023 05:09 PM Read more
Average ticket size of PMMY loans rose by almost 2x in 8 years

Disbursals under the Pradhan Mantri Mudra Yojana (PMMY) rose from ₹38,000 in FY16 to ₹72,000 in FY23, a report by SBI Research revealed.

By Friyana | April 28, 2023 05:02 PM Read more
Mark Zuckerberg’s wealth rises by $10 Bn after Meta shares rally

The billionaire’s net wealth rose to over ₹7.14 Lakh Crores, after Meta Platforms, Inc. reported surprisingly strong first-quarter sales on 26th April 2023.

By Sajhyadri | April 28, 2023 04:00 PM Read more
Policybazaar set to offer enhanced corporate insurance solutions

Under ‘Policybazaar for Business’, the firm looks to adequately insure every domestic enterprise through customer-centric processes and digitalisation.

By Friyana | April 28, 2023 02:16 PM Read more
Delhi Police arrested an ‘online extortionist’ for scamming Instagram users

Juned Beg allegedly got popular Instagram accounts blocked on purpose. He would later approach users, stating that he will get their accounts unblocked for a fee.

By Shivani | April 28, 2023 12:36 PM Read more
OYO becomes cash flow positive in Q4FY23

Oravel Stays Limited (OYO) ended the quarter with ₹90 Crores of cash flow surplus, while the cash corpus of the firm on the balance sheet stood at ₹2,700 Crores.

By Friyana | April 28, 2023 11:54 AM Read more
Wipro announces Q4FY23 results, consolidated net profit slips marginally

The same slumped by 0.4% YoY to ₹3,074 Crores, down from the ₹3,087 Crores noted a year ago. However, its revenue from operations soared by 11% YoY to hit ₹23,190 Crores.

By Shivani | April 28, 2023 11:23 AM Read more
TimesPro launches new BFSI training course for freshers

The flagship module, called Banking Pro, will equip graduates with competent modern skills and make them highly sought-after recruits from the BFSI industry.

By Sajhyadri | April 28, 2023 11:20 AM Read more
Bihar’s ‘ATM Baba’ trains youths to break ATMs in 15 minutes

Details about Sudhir Mishra, the trainer, emerged after the arrest of four people on 25th April 2023, in connection to the robbery of ₹39.58 Lakhs from an ATM.

By Aadeesh | April 28, 2023 11:13 AM Read more
Delhi Police arrests man for cyberstalking & harassing women

The man is accused of having sent morphed videos and photographs to women via fake accounts on Instagram, blackmailing them for money.

By Friyana | April 28, 2023 10:51 AM Read more
Dropbox to lay off 16% staff & hire AI-based talent

The California-based company has become the latest tech enterprise to try and increase its presence in the growing AI industry with new offerings and products.

By Sajhyadri | April 28, 2023 10:35 AM Read more
Tickertape sacks 30% of its workforce

Anchorage Technologies Pvt. Ltd. (branded as Tickertape), laid off 30% of its staff as a part of its corporate restructuring process to become more financially sustainable.

By Shivani | April 28, 2023 10:29 AM Read more
Gap to sack nearly 1,800 staffers

The firm is looking to incur aggregate pre-tax costs of around $100-120 Million (about ₹817-981 Crores), comprising employee-related expenses of $75-85 Million (around ₹613-695 Crores).

By Aadeesh | April 28, 2023 10:08 AM Read more
Chandigarh: Nearly 3 lakh challans issued for traffic violations in 2023

Within the January-April 2023 period, a total of 2,96,213 citizens were fined for violating traffic rules in Chandigarh and 1,43,802 were charged for jumping the red light.

By Friyana | April 28, 2023 10:04 AM Read more
UPSRTC website hacked, bookings halted for 10 days

A statement from the Uttar Pradesh State Road Transport Corporation said that foreign criminals hacked into the portal at around 2:00 am on 27th April 2023.

By Sajhyadri | April 27, 2023 04:45 PM Read more
JioCinema app to feature exclusive content from Warner Bros., HBO

This is considered to be a notable development as it will let users access popular movies and shows like Game of Thrones, Lord of the Rings, and the Harry Potter TV series, among others.

By Aadeesh | April 27, 2023 03:45 PM Read more
NPCI’s subsidiary partners with PPRO to expand reach of UPI & RuPay cards

NPCI International Payments Limited recently signed a definitive agreement with PPRO Financial Ltd., to allow cross-border trade via UPI.

By Friyana | April 27, 2023 02:11 PM Read more
Coforge gifts iPads to 21,000 employees after exceeding $1 Bn in annual revenue

The company is set to incur a cost of ₹80.3 Crores for these devices to staff members. This benefit is not applicable to its marketing, sales, and other personnel.

By Aadeesh | April 27, 2023 11:44 AM Read more
Maruti Suzuki reports 43% surge in net profit for Q4FY23

The automobile giant posted a profit of ₹2,624 Crores for Q4FY23, as against the ₹1,839 Crores noted in the same period last year.

By Friyana | April 27, 2023 11:09 AM Read more
24-year-old investor launches new AIF for start-ups and SMEs

Kresha Gupta, became one of India’s youngest female investors with this Category II Alternative Investment Fund (AIF) called ‘Chanakya Opportunities Fund I’.

By Sajhyadri | April 27, 2023 10:50 AM Read more
Startups sacked nearly 9,400 employees in Q4FY23

Companies like BYJU’S, GoMechanic, Unacademy, and Ola sacked a considerable portion of their workforce, while senior executive hiring activities fell by almost 80% in March.

By Shivani | April 27, 2023 10:26 AM Read more
Meta’s Q1CY23 revenue grows by 3%, net income declines 24%

With a revenue of $28.65 Billion (about ₹2.34 Lakh Crores), the company has managed to beat the Wall Street forecast of $27.65 Billion (around ₹2.25 Lakh Crores), according to Refinitiv.

By Aadeesh | April 27, 2023 10:15 AM Read more
More layoffs at Amazon, company's Halo division to shut down

The company said that it would no longer support Halo services from July 31 and give a full refund to all users who bought the devices in the past year.

By Sajhyadri | April 27, 2023 10:05 AM Read more
Bajaj Finance reports over 30% surge in net profit for Q4FY23

It rose from ₹2,419.51 Crores noted in the year-ago period to ₹3,157.79 Crores in the period under review. The firm’s PAT for the entire FY23 grew by 64%.

By Friyana | April 27, 2023 10:05 AM Read more
Serum Institute doubles investment in Biocon Biologics

The institute raised its investment to $300 Million (approx. ₹2,457 Crores) in Biocon. As per the new terms, the latter will get access to 10 crore vaccine doses annually.

By Aadeesh | April 26, 2023 11:46 PM Read more
ChatGPT now features data control option amidst privacy concerns

Under this, the chatbot will neither record the users’ conversation history nor use it for enhancing its AI, the OpenAI LLC. revealed.

By Friyana | April 26, 2023 04:31 PM Read more
Myntra launches vernacular search option for native users

This feature is anticipated to enable further ease in shopping and discoverability on the company’s platform. It will also provide support for searches made in ‘Hinglish’.

By Aadeesh | April 26, 2023 04:27 PM Read more
Man cheated of ₹5.93 Lakhs on pretence of high returns on investment

The victim came across the online portal of a marketing and advertising firm in January and started investing ₹200. Initially, he also got minor returns each day, before getting scammed.

By Aadeesh | April 26, 2023 03:24 PM Read more
India’s leading IT firms note a 65% decline in hiring

The companies cumulatively added 68,886 employees on a net basis in FY23, compared to the 1.97 lakh recruited in FY22.

By Friyana | April 26, 2023 03:23 PM Read more
Indian firms are risk-ready: Report

The Corporate India Risk Index states that domestic firms’ risk profiles have considerably improved owing to better management and government policies.

By Sajhyadri | April 26, 2023 02:20 PM Read more
TCS to double salaries, reduce pay disparities for existing talent

The company has opted to enrol its employees into existing schemes, across all experience levels, to offer them a chance to raise their wages.

By Aadeesh | April 26, 2023 01:26 PM Read more
Booming leisure travel prompts hotels to expand presence in Tier-II cities

Towards the end of 2022, the share of hotel rooms located in Tier-II and III cities soared to account for 38% of the net inventory, up from the 33% registered 4 years ago.

By Shivani | April 26, 2023 01:21 PM Read more
PhonePe may forgo ZestMoney’s $18 Mn debt

In this fresh move, PhonePe looks to purchase the technology stack of the lender and possibly onboard 150 employees of the latter.

By Friyana | April 26, 2023 12:55 PM Read more
Bajaj Auto Q4 results out: Net profit dips, ₹140 per share dividend declared

The company saw a 12% jump in revenue from operations to ₹8,905 Crores in this period, while its revenue fell by 4% from the ₹9,315 Crores noted in Q3, on a sequential basis.

By Sajhyadri | April 26, 2023 11:40 AM Read more
Google's parent firm recorded revenue of nearly $70 Bn last quarter

Alphabet Inc.’s net profit stood at $15.05 Billion (about ₹1.23 Lakh Crores) against the $16.44 Billion (around ₹1.34 Lakh Crores) noted during the year-ago period.

By Shivani | April 26, 2023 11:34 AM Read more
Tata Consumer charts 23% YoY net profit growth for Q4FY23

It increased to ₹268 Crores, as against the ₹217 Crores reported in the same period last year. Revenue increased by 14% YoY from ₹3,175 Crores to ₹3,619 Crores.

By Friyana | April 26, 2023 11:14 AM Read more
3M to slash 6,000 jobs to reduce expenses, improve profitability

This move is also being done as part of the company’s restructuring efforts and is anticipated to bring down its annual costs by about $900 Million (about ₹7,376 Crores).

By Aadeesh | April 26, 2023 10:58 AM Read more
Blue-collar job openings increased by 7% YoY in March

According to a report by Billion Careers Pvt. Ltd., up to 57,11,154 vacancies were noted till the month, mainly in security service, HR, and admin jobs.

By Sajhyadri | April 26, 2023 10:40 AM Read more
SBI to issue unsecured US dollar bonds worth up to $1 Bn

This is after the lender received its Board of Directors’ approval to gather around $2 Billion (about ₹16,394 Crores) this fiscal, through overseas debt issuances.

By Friyana | April 26, 2023 10:39 AM Read more
PepsiCo logs double-digit organic revenue growth in March quarter

The company announced that its gross revenue in Africa, the Middle East and South Asia (AMESA), comprising India, surged by 1.49% to $1.01 Billion (approx. ₹8,279 Crores).

By Shivani | April 26, 2023 10:38 AM Read more
More Indians looking to upskill compared to global peers: Report

The Upskilling Trends in India for 2023 report analysed global trends that are influencing individuals’ choices on upskilling, based on maximum demand for courses in certain regions.

By Aadeesh | April 26, 2023 10:15 AM Read more
Demand hikes for affordable homes in Bengaluru outskirts due to new metro line

For instance, queries for Bengaluru Development Authority's 2-phased project in Komaghatta saw a 40-50% rise in inquiries, as it is close to the Kengeri metro station.

By Aadeesh | April 25, 2023 04:43 PM Read more
Disney begins 2nd layoff round across ESPN and other divisions

According to the entertainment giant, this is part of a larger companywide reorganisation setting, through which it aims to cut costs by $5.5 Billion (around ₹45,066 Crores).

By Sajhyadri | April 25, 2023 04:35 PM Read more
IBM-owned firm to layoff 4% of workforce

Matt Hicks, the CEO of Red Hat, notified employees regarding this via email, stating that this decision was necessary for them to compete within a new environment.

By Aadeesh | April 25, 2023 03:45 PM Read more
Two-wheeler sales soared in FY23 after 3 year-decline

According to a report by Jefferies, two-wheeler wholesales rose YoY by 19% to 1.6 crore vehicles, after a slump of 10% in FY22, 13% in FY21, and 18% in FY20.

By Sajhyadri | April 25, 2023 03:35 PM Read more
RBI allows HDFC-HDFC Bank merger entity to increase stake in subsidiaries

It noted its biggest single-day rise in over a year before closing at a 3-month high of ₹546.15 per equity share on the NSE.

By Friyana | April 25, 2023 02:44 PM Read more
Tamil Nadu Govt. withholds 12 working hour bill

The state’s Chief Minister, M. K. Stalin, made the announcement, adding that they will properly examine the opinions expressed against the bill and act accordingly.

By Sajhyadri | April 25, 2023 02:25 PM Read more
Trillium Capital offers to purchase Getty Images at nearly $4 Bn

The capital market firm has offered to buy Getty Images’ shares in a cash deal of $10 per unit, which means a premium of about 98% to the stock’s previous close.

By Aadeesh | April 25, 2023 01:53 PM Read more
GreenCell Mobility invests ₹1,500 Cr to increase e-bus supply in India

The firm aims to add another 1,200 e-buses for both inter and intra-city travel, while also setting up the required charging infrastructure.

By Friyana | April 25, 2023 01:41 PM Read more
Kedarnath Dham opens to pilgrims from today

The Uttarakhand Government, however, is no longer accepting pilgrim registration applications since the IMD predicted heavy snowfall to continue at the site.

By Sajhyadri | April 25, 2023 01:30 PM Read more
RBI streamlines provisioning norms for urban cooperative banks

In a circular, the central bank mentioned that this decision was taken after conducting a review, as part of the new framework.

By Aadeesh | April 25, 2023 01:11 PM Read more
Mall operators hope for 7-9% revenue rise in FY24

CRISIL Ratings Ltd. stated that mall operators will also benefit from robust retail sales, with up to 95% occupancy and 4-5% increments in contractual rents.

By Sajhyadri | April 25, 2023 12:35 PM Read more
Fortum looks to sell its solar projects in India for ₹1,600 Cr

This includes solar power projects with an aggregate capacity of 185 MW, spread across Madhya Pradesh, Karnataka, and Rajasthan.

By Friyana | April 25, 2023 12:30 PM Read more
New features launched on eShram portal for migrant workers

These will help capture the details of migrant workers’ family members and provide them with the benefits of women-centric and child education schemes.

By Sajhyadri | April 25, 2023 11:50 AM Read more
Local investors, global PE firms eye stake in BoB Financial Solutions

Private Equity (PE) firms like the Carlyle Group, and investors like Kisetsu Saison Finance India Private Limited, wish to buy up to 49% stake in the company.

By Friyana | April 25, 2023 11:41 AM Read more
India’s credit growth momentum could fall to 10% in FY24: Report

Nomura Holdings, Inc. stated that an expected drop in GDP growth to 5.3% and reduced inflation levels in FY23 are the key reasons for low bank credit growth projections.

By Aadeesh | April 25, 2023 11:22 AM Read more
LIC’s total premium grew by 17% to ₹2.32 Lakh Crores in FY23

In March 2023, the insurer held a market share of 62.58%, in terms of its collected premium. It also achieved the highest individual category premium, exceeding the ₹10,000 Crore level.

By Chanel | April 25, 2023 11:01 AM Read more
Ipca Labs to purchase over 33% stake in Unichem Laboratories

Under this, Ipca Laboratories will purchase 2,35,01,440 fully paid-up shares from one of Unichem Laboratories’ promoter stakeholders at ₹440 per unit.

By Friyana | April 25, 2023 10:54 AM Read more
Home rental rates in NCR surged by 25-40% last year

Through this, landlords look to recover the losses that they incurred, when they offered discounts to the tenants over the last 2 years.

By Friyana | April 25, 2023 10:49 AM Read more
Unacademy to reach group-level profitability in April: CEO

This forecast is only for the ongoing month and not the whole year. As the company looks to turn profitable, it’s been under pressure to cut its monthly cash burn.

By Chanel | April 25, 2023 10:07 AM Read more
Mobile phone production down by 20% since Jan

Furthermore, smartphone shipments fell by 30% YoY between October-December 2022, and by 18% YoY in January-March 2023, as per Counterpoint Technology Market Research’s latest data.

By Aadeesh | April 25, 2023 09:45 AM Read more
Hall tickets of MPSC exam candidates leaked on Telegram

Sometime after the news was spread, MPSC issued a notification confirming the breach. However, it said that the incident will not impact the scheduled exams.

By Friyana | April 24, 2023 05:47 PM Read more
Karnataka’s per capita income gap widens

An analysis of Karnataka’s districts across various metrics revealed this gap between the richest and poorest districts. In FY22, Bengaluru Urban’s average income came to ₹6.2 Lakhs, while it was ₹1.2 Lakhs in Kalaburagi.

By Aadeesh | April 24, 2023 05:10 PM Read more
Air India invests $200 Mn to enhance its digital infrastructure

The firm has already integrated new technology systems in certain key areas, while some are in the advanced stages of deployment.

By Friyana | April 24, 2023 04:52 PM Read more
Plot of sand in Dubai sold for $34 Million

This transaction meant a payment of over 5,000 Dirhams (about ₹1.11 Lakhs) per sq. ft., which is a new record, according to Knight Frank LLP.

By Aadeesh | April 24, 2023 04:18 PM Read more
BoM board plans fundraising up to ₹7,500 Cr for FY24

The bank plans to raise funds via means like a follow-on public offer and qualified institutional placement, among others, as per the meeting held on 24th April 2023.

By Aadeesh | April 24, 2023 01:44 PM Read more
Start-up funding drops below $100 Mn amidst shortage of deals

This is the second time this year that investments were noted below the key $100 Million (about ₹820 Crores) mark, due to a lack of fundraising activity.

By Friyana | April 24, 2023 01:31 PM Read more
Centre may reveal national retail trade policy, accident insurance scheme

An official with knowledge of the matter stated that the proposed policy will offer more credit and improved infrastructure to local traders, along with a grievance and consultative redressal mechanism.

By Aadeesh | April 24, 2023 12:44 PM Read more
Chhattisgarh records high mineral revenue of ₹12,941 Cr in FY23

Iron ore contributed the most to the aggregate turnover at ₹3,607 Crores, while coal followed close at ₹3,336 Crores.

By Friyana | April 24, 2023 12:34 PM Read more
Ex-Infosys employee earns 2x more salary at a brinjal farm in Japan

The techie earned around ₹40,000 per month at Infosys. Now, his income amounts to ₹80,000 and he is provided with free accommodation by his employer.

By Friyana | April 24, 2023 11:56 AM Read more
30% of sales to come from EVs in 2023: MG Motor

The firm’s MD and President revealed that it's second offering will launch next month. From May, it will introduce Comet, a two-door EV, in a phased manner.

By Chanel | April 24, 2023 11:49 AM Read more
Nearly 1,000 Blinkit delivery partners join rival firms

This was observed after workers protested the firm’s recent pay structure changes, causing many stores in Delhi, Noida, Faridabad, Gurgaon, and Ghaziabad, to go dark.

By Aadeesh | April 24, 2023 11:16 AM Read more
Office vacancy levels at 16.4% in Jan-Mar across top six cities

As per Colliers' report, this figure shows the resilience of the domestic commercial office market. Also, current demand and new supply have aligned, leading to stability.

By Chanel | April 24, 2023 10:58 AM Read more
Publicis Groupe set to ramp up hiring efforts in India

Jane Lin-Baden, CEO of Publicis Groupe APAC, noted that their Indian operations have seen continued momentum in 2022, and the country is a key engine for growth.

By Aadeesh | April 24, 2023 10:45 AM Read more
Kia India to focus on SUV, MPV offerings this year

Hardeep Singh Brar, the Vice President and Head of Marketing and Sales at Kia India, said that the firm has no plans to launch sedan offerings in the domestic market, as of yet.

By Friyana | April 24, 2023 10:18 AM Read more
Visa halts single-click checkout for Indian e-comm payments

While the card payments firm has stopped this service, it disclosed that the company is currently working on a more evolved version of network authentication.

By Chanel | April 24, 2023 10:16 AM Read more
Wipro board to consider share buyback on April 26-27

The company will announce its financial performance for the March-ended quarter and the whole fiscal, along with the buyback announcement, on 27th April 2023, the meeting’s final day.

By Aadeesh | April 24, 2023 10:05 AM Read more
India’s apparel market charts 15% growth in FY23

The Clothing Manufacturers Association of India (CMAI) revealed that this surge was driven by price hikes, even when the market noted a 3% drop in sales volume.

By Friyana | April 24, 2023 09:32 AM Read more
Wipro Consumer Care and Lighting to buy spice brand Brahmins

This is Wipro's 14th acquisition in the country’s FMCG sector after entering the business last year with an aim to become a notable name in the market.

By Sajhyadri | April 21, 2023 05:45 PM Read more
Indices show mixed trends; Sensex below 60,000-mark

On 17th April 2023, domestic indices snapped their 9-day winning streak with Sensex falling below 60,000 by 690 pts. After Friday’s marginal gains, the index failed to recover from its dropped level.

By Chanel | April 21, 2023 04:54 PM Read more
80,000 cyber champs in Gurgaon to help police tackle online frauds

The ‘Cyber Champ’ initiative will attract students from over 80 schools, who will receive training to tackle the growing number of cybercrimes in the city.

By Aadeesh | April 21, 2023 03:58 PM Read more
Private parties can also use Aadhaar authentication: IT Ministry

After this change, any non-government entity that wishes to use Aadhaar authentication will have to first submit a proposal to the concerned department/ministry.

By Sajhyadri | April 21, 2023 03:55 PM Read more
88% Indians find upskilling vital for career growth

According to the 2nd edition of the Pearson Skills Outlook, titled ‘Employee View’, 92% of workers utilise upskilling options offered by their employers.

By Sajhyadri | April 21, 2023 02:50 PM Read more
States likely to soften labour laws, attract MNCs

Many states like Uttar Pradesh and Tamil Nadu may amend their labour law policies to allow for flexibilities like 12-hour shifts, and night-time work for women.

By Aadeesh | April 21, 2023 02:36 PM Read more
Max Healthcare in lead to acquire CARE Hospitals

After around a year of staggered talks, TPG and Max signed an exclusive deal over bilateral negotiations with a potential valuation of ₹5,500-6,500 Crores.

By Sajhyadri | April 21, 2023 02:10 PM Read more
Rural housing under PMAY-G rises by 25% in FY23

The Centre has proposed building 52.8 lakh houses under the Pradhan Mantri Awas Yojana - Gramin, which will allow it to achieve the overall target of 2.95 crore constructed homes in FY24.

By Aadeesh | April 21, 2023 01:56 PM Read more
NBFCs’ education loan AUM likely to grow 35-40% in FY24

Capital market firm, CRISIL Ratings Ltd. said that this figure will rise to ₹35,000 Crores this fiscal, due to a surge of students going abroad for higher education.

By Sajhyadri | April 21, 2023 01:00 PM Read more
Hydropower firms to be financially impacted by new HP Govt. law

The Himachal Pradesh Government’s new levy on water usage could affect firms by making their functional projects more expensive. This will result in additional cost implications for end users.

By Aadeesh | April 21, 2023 12:48 PM Read more
HCLTech’s net employee additions dropped by 57.3% in FY23

The company’s target of hiring 30,000 freshers was also missed, with only 26,734 candidates recruited in the last fiscal. For FY24, it plans to employ 15,000 freshers.

By Chanel | April 21, 2023 12:34 PM Read more
Apollo to hire India credit chief, bets debt market growth

The firm will prioritise joint ventures with partner companies, similar to its other markets in South Korea and Australia. It has also set up a lending origination platform for Asia Pacific.

By Aadeesh | April 21, 2023 12:12 PM Read more
India’s smartphone market declines 20% YoY in Q1CY23

Market research firm, Canalys said that the country recorded 3.06 crore units of shipments in this period, compared to the 3.82 crore units shipped in Q1CY22.

By Sajhyadri | April 21, 2023 12:00 PM Read more
Apple eyes 2x or 3x investments in India: IT Minister

Rajeev Chandrasekhar, the IT Minister, is positive that the partnership between Apple and India will allow for significant headroom in investments, jobs, growth, and exports.

By Aadeesh | April 21, 2023 11:25 AM Read more
Nokia India’s Q1 net sales soar 327%

The Finnish consumer electronics maker reportedly earned around ₹7,680 Crores in this period, boosted by the continued 5G network expansion in the country.

By Sajhyadri | April 21, 2023 11:10 AM Read more
EPFO: Formal job creation dropped in February

Fresh subscribers under the Employees’ Provident Fund Organisation (EPFO) dropped to 13.9 lakhs in February 2023. A month earlier, 14.8 lakh members had joined the fund.

By Chanel | April 21, 2023 10:42 AM Read more
US unemployment claims rise to 2.45 lakhs

The U.S. Department of Labor data showed that the 4-week moving average of the claims fell by 500 to 2.39 lakhs. Moreover, 18.66 lakh people received these benefits by 8th April 2023.

By Aadeesh | April 21, 2023 10:39 AM Read more
Delhi Govt. raises minimum wages of unorganised sector workers

Raaj Kumar Anand, Delhi’s Labour Minister, claimed that the region's skilled, semi-skilled, and unskilled labourers now earn the highest wages compared to other Indian states.

By Sajhyadri | April 21, 2023 10:30 AM Read more
Fortis Healthcare plans to acquire Medeor Hospital for ₹225 Cr

The takeover is expected to be completed by 31st July 2023. All the firms involved have already signed a definitive agreement for the acquisition.

By Friyana | April 20, 2023 06:31 PM Read more
Jamtara-based fraud busted; Delhi Police arrest 6, seize over 21K sim cards

It took around 6 hours for the officials to count all the sim cards. Of these, around 16,000 belonged to India’s major cellular service providers.

By Friyana | April 20, 2023 05:53 PM Read more
Emkay Global gets SEBI's nod for MF business

In light of this news, the share prices of the company surged by 19.97%, hitting the upper circuit. It rose to ₹80.2 per equity unit.

By Friyana | April 20, 2023 05:17 PM Read more
162% growth in loan applications recorded in Tier 2,3 cities: Study

The report by Prodigy Finance mentioned that Lucknow and Vijayawada contributed majorly to this in 2022, with an uptick of 91% and 185%, respectively.

By Aadeesh | April 20, 2023 05:12 PM Read more
Twitter rival Koo lays off 30% employees due to funding crunch

A company representative stated that the global sentiment, at present, is more focused towards efficiency, rather than on growth.

By Aadeesh | April 20, 2023 03:28 PM Read more
Crypto slows down: Bitcoin rates fall below $30K

Despite noting a sharp decline of 4.5%, Bitcoin recovered some of its losses to trade at $29,175 (about ₹24.11 Lakhs), as of 9:50 AM, in London.

By Friyana | April 20, 2023 01:39 PM Read more
Home loan demand slumps; large lenders offer special interest rates

Lenders like ICICI Bank Ltd., SBI, and HDFC Bank Ltd. are trying to attract new customers by offering special home loan rates of 9%, 9.15%, and 8.5%, respectively.

By Shivani | April 20, 2023 01:23 PM Read more
Delhi Govt. likely to adopt faceless land registration mechanism in August

This move is anticipated to make the process of obtaining documents pertaining to lease rental agreements, land deeds, and related legal formalities, much easier, according to officials.

By Aadeesh | April 20, 2023 12:58 PM Read more
Wipro mandates freshers to take new tests or be terminated

These tests will have a negative marking of 0.25 for each question answered incorrectly. Those who fail to score at least 60% will be terminated immediately.

By Friyana | April 20, 2023 12:35 PM Read more
IndusInd Bank signs $100 Mn loan agreement with JBIC

This collaboration will enable the development of Japanese construction equipment firms in India, through requirement-based credit facilities to downstream and upstream companies.

By Aadeesh | April 20, 2023 12:13 PM Read more
Micro Labs’ MD buys ₹66 Cr bungalow in Bangalore

Alongside this amount, the healthcare firm’s Managing Director, Dilip Surana, paid a stamp duty fee worth more than ₹3.36 Crores.

By Chanel | April 20, 2023 11:47 AM Read more
Maharashtra Govt. activates 25 COVID-19 dedicated hospitals

These will be equipped with around 5,000 beds, over 2,000 ventilators, 37 Pressure Swing Adsorption (PSA) oxygen and 62 liquid medical oxygen plants.

By Friyana | April 20, 2023 11:42 AM Read more
BPCL to spend ₹1,600 Cr to set up 240 MW renewable power facilities

Sukhmal Kumar Jain, Director (Marketing) at BPCL, stated that his organisation is in talks to build wind and solar power facilities across Madhya Pradesh, Maharashtra and Uttar Pradesh.

By Shivani | April 20, 2023 11:41 AM Read more
PSBs to set up app for e-auctioning 5 lakh properties

This app has a target of six lakh transactions, including one lakh auctions and loan applications for these properties. It will also act as a repository for data, information and documents.

By Aadeesh | April 20, 2023 11:22 AM Read more
Snap India’s engagement, user base grew 2x in 2022

The firm’s CEO also informed that its Spotlight feature noted a 175% YoY growth last year, in terms of time spent on the application by India-based users.

By Chanel | April 20, 2023 11:18 AM Read more
Delhivery’s market share falls to 21.5% in FY23

A report by Bernstein Autonomous LLP revealed that this was due to a series of issues that were mainly centred around the integration/execution of Spoton Logistics Pvt. Ltd., its acquisition in 2021.

By Aadeesh | April 20, 2023 11:01 AM Read more
India’s gems & jewellery export surges by over 2% in FY23

This growth was witnessed even amidst the rising inflation in the US, geo-political pressures, and the lockdown in China that lasted for nearly 6 months.

By Friyana | April 20, 2023 10:47 AM Read more
Netflix Co-CEO: India is a ‘big prize’ for the company

After Netflix tweaked its pricing strategies and offered different customer-centric plans, its engagement rate soared by almost 30% YoY, with revenues rising by 24% in 2022.

By Shivani | April 20, 2023 10:41 AM Read more
Tata Nexon EV catches fire in Pune, company responds

As per Tata Motors Limited’s official statement, the cause of the fire was a repair job done by an unauthorised workshop, leading to a short circuit.

By Friyana | April 19, 2023 06:19 PM Read more
Builder-buyer agreement to simplify home-buying process

According to the Ministry of Consumer Affairs’ Secretary, this model agreement will protect homebuyers from potential risks and act as a seamless grievance redressal mechanism.

By Chanel | April 19, 2023 06:02 PM Read more
Amazon layoffs: Advertising department staff next in line

The firm’s employees will be let go from 20th June 2023, while those based in New Jersey and New York will be sacked starting July 17.

By Aadeesh | April 19, 2023 04:32 PM Read more
Start-ups bear the brunt of international funding winter

In Q1FY23, Indian start-ups raised $2 Billion (about ₹16,426 Crores), 75% lower than the year-ago period, information released by CB Information Services, Inc. showed.

By Shivani | April 19, 2023 04:13 PM Read more
Netflix Q1 results revealed; firm looks to curb unsanctioned password sharing

The firm’s performance surpassed Wall Street’s Q1 estimates. However, it still offered a lower-than-expected forecast on Tuesday, 18th April 2023.

By Friyana | April 19, 2023 03:56 PM Read more
WTO panel’s decision on import duties to be challenged by India

The World Trade Organization (WHO) ruled that the import dues levied by the nation on certain IT products are not consistent with the norms of world trade.

By Friyana | April 19, 2023 03:48 PM Read more
Centre re-imposes windfall tax on crude oil

The new rate will now be ₹6,400/tonne, with effect from 19th April 2023. With this, the Centre will obtain a share of the super-profits earned by producers as international prices surge.

By Aadeesh | April 19, 2023 01:28 PM Read more
More layoffs at Facebook, Instagram & WhatsApp: Meta

Meta sent people managers a memo on 19th April 2023, informing them to prepare for more layoffs. This decision is in line with the founder’s goal of achieving greater efficiency.

By Chanel | April 19, 2023 12:59 PM Read more
Disney plans another layoff round next week

This move will affect thousands of roles, including 15% of its staff in the entertainment division. It will also impact positions in its film and TV units, corporate, and theme parks.

By Aadeesh | April 19, 2023 12:39 PM Read more
Hathway Cable & Datacom reports net loss of over ₹14 Cr in Q4FY23

On the other hand, the firm noted a 2.4% jump in its operational revenue. It increased from ₹448.79 Crores in Q4FY22 to ₹459.59 Crores in the period under review.

By Friyana | April 19, 2023 12:38 PM Read more
Go First denies promoters' potential exit/stake shedding rumours

An official confirmed that the Wadia Group is neither going to exit the business nor offload its stake in the airline. Instead, it plans to infuse more capital into the budget carrier.

April 19, 2023 12:18 PM Read more
Apple created over 1 lakh direct jobs in 2 years: MoS IT

The Minister of State for Electronics and IT (Mos IT) informed that 70% of these workers consist of women, aged between 19-24 years.

By Chanel | April 19, 2023 11:36 AM Read more
Salaried taxpayers choosing new tax regime may struggle with ITR, TDS 

TaxBuddy’s Founder believes that a person may face some difficulties if they choose two different regimes for Tax Deducted at Source and Income Tax Returns.

By Chanel | April 19, 2023 11:24 AM Read more
Over 16 lakh new registrations under ESI Scheme in February

According to the payroll data on the Employees’ State Insurance (ESI) Scheme, about 11,000 new organisations were registered under the programme, during the month.

By Friyana | April 19, 2023 11:14 AM Read more
India’s G20 presidency is boosting travel, hospitality sector

So far, 100 G20-related meetings have been held in Pune, Jodhpur, Chennai, Bengaluru, Khajuraho, and Kolkata, which have been attended by more than 12,300 delegates.

By Shivani | April 19, 2023 11:09 AM Read more
PE investments in Indian real estate fell in 2023’s first quarter

Savills Property Services (India) Pvt. Ltd. revealed that only $45 Million (about ₹369 Crores) had been invested in Indian real estate, owing to ongoing economic and geo-political challenges worldwide.

By Aadeesh | April 19, 2023 10:52 AM Read more
27% decline projected in work demand under MGNREGS for FY24

The forecast regarding the Mahatma Gandhi National Rural Employment Guarantee Scheme was made against the backdrop of improved economic activities.

By Friyana | April 19, 2023 10:14 AM Read more
Visa interviews for Indian students to rise by 30% during summer

Mike Hankey, Consul General at the U.S. Consulate General Mumbai, stated that they sent 1.25 lakh Indians to study in the US in 2022, and are looking to increase this number in 2023

By Aadeesh | April 19, 2023 10:04 AM Read more
Senior citizen cheated of ₹83,000 while cancelling train ticket

The victim reportedly came across a helpline number online and spoke to a fake customer service executive, who directed him to download an app, to extract funds from his account.

By Aadeesh | April 18, 2023 04:31 PM Read more
Apple CEO inaugurates first retail store in India

Tim Cook, the tech giant’s CEO, also greeted a large gathering of people and customers outside the outlet and stated that the energy he witnessed in Mumbai was incredible.

By Aadeesh | April 18, 2023 03:09 PM Read more
Elon Musk’s new AI chatbot to rival ChatGPT

The new chatbot, called TruthGPT, is a maximum truth-seeking AI that will attempt to understand the universe’s nature. Musk believes that it’s unlikely to bring harm to people, as a result.

By Aadeesh | April 18, 2023 02:13 PM Read more
Andromeda’s loan disbursals rose by 63% to ₹60,000 Cr

By the end of March 2023, the company had disbursed about ₹26,328 Crores worth of home loans, as against the ₹17,505 Crores noted in the year-ago period.

By Friyana | April 17, 2023 05:49 PM Read more
HDFC Bank’s gold loan value rises by nearly 30% in FY23

A report by Nuvama Wealth and Investment Ltd. revealed this data. The bank also noted an 8% improvement from FY23’s third quarter.

By Aadeesh | April 17, 2023 05:12 PM Read more
Net inflows into gold ETFs declined to 4-year low in FY23

In FY23, net inflows into gold Exchange-Traded Funds (ETFs) fell sharply to ₹653 Crores. It had earlier provided returns of 14% in FY23.

By Aadeesh | April 17, 2023 04:20 PM Read more
TCS to give up to 15% increment to its top-performing employees

With a slowdown in the job market and mass layoffs by firms, the IT giant looks to retain more of its employees through this move.

By Friyana | April 17, 2023 04:10 PM Read more
CIDCO hiring drive to boost Navi Mumbai projects

Maharashtra’s Chief Minister believes that the employment drive will sharpen the focus on works related to major ongoing projects in the city.

By Chanel | April 17, 2023 03:55 PM Read more
Wholesale inflation rate eases in March, hits 29-month low

On 17th April 2023, the Ministry of Commerce and Industry revealed that the rate lowered to 1.34% in March 2023 from the 3.85% in February.

By Friyana | April 17, 2023 03:30 PM Read more
Western Digital restores services after cyber-attack

On 3rd April 2023, the company reported a network security incident that disrupted customers’ access to its My Cloud and SanDisk services, causing significant outages.

By Aadeesh | April 17, 2023 02:43 PM Read more
Credit Card spends reach an all-time high in March

In March, it hit an all-time high of ₹1.37 Lakh Crores, with consumers using the payments tool for both discretionary and non-discretionary spends.

By Friyana | April 17, 2023 01:33 PM Read more
Student start-ups to get support from entrepreneurship development, incubation centres soon

In phase one, 30 development entrepreneurship development centres and 4 incubation centres will be established at colleges and universities across the North East region.

By Shivani | April 17, 2023 12:58 PM Read more
G20 to create global definition for start-ups by July

The Foundation and Alliances Taskforce under the Startup-20 Engagement Group will establish a uniform terminology for the start-up ecosystem.

By Friyana | April 17, 2023 12:25 PM Read more
Govt to fill 373 vacancies in UP Police cyber wing: CM

At the recent UP Police cyber wing review meeting, the chief minister also informed that the department would receive its own administrative building to improve operations.

By Chanel | April 17, 2023 12:18 PM Read more
Electronics exports shot up by over 50% in FY23

The industry shipped products worth $23.6 Billion (approx. ₹1.93 Lakh Crores), propelled by the surge in mobile phone shipments.

By Shivani | April 17, 2023 12:16 PM Read more
Domestic start-ups shift banking operations back to India

Indian regulators may use this development to position the country as a possible alternative for affected businesses to consider.

By Chanel | April 17, 2023 12:01 PM Read more
Indian start-ups witness 75% decline in funding

A new research, called ‘Tracxn Geo Quarterly Report: India Tech - Q1 2023’ stated that Indian start-ups generated $2.8 Billion (about ₹22,944 Crores) in Q1 of 2023.

By Aadeesh | April 17, 2023 11:53 AM Read more
TCS expects more business from Credit Suisse-UBS merger

Chief Operating Officer (COO) of TCS, N. Ganapathy Subramaniam said that the way this merger has been structured by the regulators has brought stability.

By Friyana | April 17, 2023 11:36 AM Read more
Over 70% COVID-19 deaths reported are of senior citizens: Maharashtra Health Dept.

In the period between January to April 2023, 54 individuals succumbed to the disease, of which 38 belonged to the 60-plus age group.

By Shivani | April 17, 2023 11:31 AM Read more
HDFC Bank records 21% jump in net profit for Q4FY23

The firm’s consolidated net revenue also improved by 20.3% to ₹34,552.8 Crores in the same period. It further displayed a 21% growth in its deposits at ₹18.83 Lakh Crores.

By Aadeesh | April 17, 2023 11:08 AM Read more
Price gap between EV and ICE vehicles reduces; EVs become more affordable

As of 2020, the average price of an EV was over 2 times, which is about 137%, more than similar ICE variants. Since then, this gap has decreased to 73%.

By Friyana | April 17, 2023 10:49 AM Read more
Godrej Properties acquired 18 land parcels last fiscal

During this period, the Godrej Group’s arm also purchased Raj Kapoor’s bungalow in Chembur, Mumbai, to build a luxury housing project.

By Chanel | April 17, 2023 10:41 AM Read more
AG&P plans to acquire 70% stake in Hiranandani Energy

Following the deal, the remaining 30% stake will be held with Darshan Hiranandani. Through this move, AG&P aims to expand its CNG and LNG business in India.

By Aadeesh | April 17, 2023 10:25 AM Read more
Bodhi Tree cuts down 70% of planned investment in Viacom18

The amount has been reduced to ₹4,306 Crores, Viacom18 revealed, on 13th April 2023. Reliance Industries is now leading the investment with an infusion of ₹10,839 Crores.

By Friyana | April 14, 2023 06:31 PM Read more
Weekly Markets: Indices end in green; Bank Nifty closed above 42,100

While Indian indices extended their previous week’s gains, this progress was lost on 13th April 2023, as Sensex slipped by 114.2 points to 60,278.57 during the opening bell.

By Chanel | April 14, 2023 06:03 PM Read more
IDBI Bank revises FD rates, provides up to 7.65% interest

The bank has revised its interest rates on FDs below ₹2 Crores with effect from 12th April 2023. A maximum interest of 7.65% and 7.15% will be offered to senior citizens and the general public, respectively.

By Aadeesh | April 14, 2023 05:28 PM Read more
2 mutual funds offload Paytm stake despite rally

UTI Asset Management Co. Ltd. sold 1.1 lakh shares of the fintech, while DSP Mutual Fund traded 9,000 shares. Both firms further offloaded shares of other companies.

By Aadeesh | April 14, 2023 04:28 PM Read more
FM: G20 agrees on the need for global crypto regulations

The Finance Minister revealed this at a news conference that took place after the meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) concluded.

By Friyana | April 14, 2023 03:50 PM Read more
What happens to my mutual funds if I die?

It is advised to register nominees for your mutual fund accounts so that they can use them after your death. Read on to know the finer details of the process.

By Sajhyadri | April 14, 2023 03:15 PM Read more
SPJIMR’s PGPM students get over 170% hike in incoming salaries

The institute noted a 10% YoY rise in the average CTC for candidates, which came to ₹33.63 Lakhs for the top 25% and ₹30.90 Lakhs for the top 50%.

By Aadeesh | April 14, 2023 02:15 PM Read more
Air India to refinance its short-term loans

This decision was taken after the firm finalised its future credit requirements based on projected cash flows. The deal is expected to be finalised by next month.

By Friyana | April 14, 2023 01:29 PM Read more
Twitter, eToro partner to let users trade crypto & stocks

The Twitter app will now include a feature to let users trade with eToro, starting Thursday, 13th April 2023. They can also view market charts on a wide range of financial instruments.

By Aadeesh | April 14, 2023 01:18 PM Read more
HSBC to recruit 30 private bankers to provide wealth management services

The London-based financial institution’s private banking service is expected to be set up by June 2023, those aware of the matter stated.

By Friyana | April 14, 2023 12:42 PM Read more
Debt MFs note 6 month-high outflows in March

Hybrid and debt funds recorded outflows of over ₹50,000 Crores in March. Meanwhile, open-ended equity MFs noted a 31% jump in inflows at ₹20,534.21 Crores.

By Friyana | April 14, 2023 11:48 AM Read more
Indonesian hackers target 12,000 Indian websites, Centre issues alert

The Ministry of Home Affairs' Indian Cybercrime Coordination Centre’s (I4C) alert mentioned that the hackers launched Denial of Service (DoS) and Distributed Denial of Service (DDoS) attacks.

By Aadeesh | April 14, 2023 11:43 AM Read more
Over 71% surveyed employees concerned about potential layoffs: Report

83% of them confirmed that they plan to move jobs to avoid falling prey to uncertainties. Some respondents cited cost-cutting and over-hiring, among others, as reasons for layoffs.

By Shivani | April 14, 2023 11:41 AM Read more
Weekly jobless claims increase in US, signals slowdown in labour market

The initial claims for state unemployment benefits rose by 11,000 to 2.39 lakhs for the week that ended on 8th April 2023, higher than the 2.32 lakhs forecasted by economists.

By Aadeesh | April 14, 2023 11:09 AM Read more
Infosys forecasts 4-7% revenue growth for FY24, slowest in 6 years

Salil Parekh, the MD of the firm, said that the business environment remains ‘uncertain’. He revealed that the enterprise has no ‘clear view’ of FY24.

By Friyana | April 14, 2023 11:07 AM Read more
Banks’ growth driven by unsecured personal loans

Unsecured loans, in absolute terms, remained at ₹2.2 Lakh Crores between February 2022-23, and banks lent ₹1.18 Lakh Crores to large-scale corporates in the same period.

By Aadeesh | April 14, 2023 11:06 AM Read more
Government tries to attract semiconductor suppliers to establish units in India

Officials are in talks with multiple semiconductor-manufacturing organisations, trying to convince them to set up shops in several proposed geographies across the country.

By Shivani | April 14, 2023 10:58 AM Read more
FirstCry may hold secondary share sale at $3 Bn valuation

The firm is in talks with a few sovereign funds to enable certain shareholders of the company to sell their stake at a valuation of roughly $3 Billion (approx. ₹24,465 Crores).

By Chanel | April 14, 2023 10:32 AM Read more
Infosys’ workforce drops 46% YoY in FY23

The IT firm reduced its headcount by 3,611 in Q4 of FY23. This brought their total staff strength to 3,43,234, showing an attrition rate of 20.9%, for the period.

By Sajhyadri | April 13, 2023 06:43 PM Read more
vivo to set up Greater Noida facility with infusion of ₹1,100 Cr

After obtaining the due clearance from authorities, the facility will be able to produce almost 12 crore smartphones annually once it is fully operational.

By Sajhyadri | April 13, 2023 05:35 PM Read more
Rashtriya Rozgar Mela: PM distributes 71,000 joining letters

While virtually attending the recruitment drive on 13th April 2023, the Prime Minister said that startups have created over 40 lakh jobs in the country.

By Sajhyadri | April 13, 2023 03:50 PM Read more
IRDAI: Health Insurance for India’s Missing Middle report to be presented soon

The Insurance Regulatory and Development Authority of India has asked the industry to be ready to quickly provide the required solutions to people in this segment.

By Friyana | April 13, 2023 03:45 PM Read more
Around 30 Australians duped through fake call centres in Kolkata

Kolkata Police has already contacted the Australian Federal Police to reach out to the victims and record their statements. So far, 18 individuals have been arrested.

By Friyana | April 13, 2023 02:50 PM Read more
Amazon-backed Smallcase and Zerodha form JV for MF business

Zerodha Broking Ltd., already has SEBI’s initial clearance for building an asset management company (AMC). It now awaits the regulatory body’s final approval.

By Friyana | April 13, 2023 01:26 PM Read more
CBI probing Nagpur weapons firm’s data theft incident

Earlier this year, a group of hackers called BlackCat stole and leaked around 2 terabytes of Solar Industries India Limited's classified data on the dark web.

By Sajhyadri | April 13, 2023 01:20 PM Read more
HDFC Bank enters into an agreement with Export–Import Bank of Korea

On 12th April 2023, HDFC Bank Limited signed a pact called the "Master Inter Bank Credit Agreement" with the Export–Import Bank of Korea, agreeing to a line of credit worth $300 million (about ₹2,458 Crores).

By Shivani | April 13, 2023 12:41 PM Read more
FlexiLoans looks to raise $75 Mn for SME loans

According to two anonymous sources, the start-up has already begun holding initial talks with potential investors. Its existing investors may also consider participating.

By Chanel | April 13, 2023 12:13 PM Read more
PM to commit ₹3,400 Cr-worth health infra projects to Assam

The Prime Minister is also expected to visit AIIMS Guwahati to check the newly established campus and dedicate it to the public.

By Aadeesh | April 13, 2023 11:49 AM Read more
Apple boosted India’s iPhone output by 3x in FY23

iPhones worth about $7 Billion (about ₹57,386 Crores) were assembled in India in the last fiscal. Reportedly, the company is looking to diversify its supply chain beyond China’s boundaries.

By Shivani | April 13, 2023 11:48 AM Read more
India reports 10,158 new COVID-19 cases in past 24 hours

Data from the Health Ministry reported that the number of active infections in the country rose to 44,998, with a 4.42% daily positivity rate, as of 12th April 2023.

By Sajhyadri | April 13, 2023 11:25 AM Read more
RBI to stop lenders from exploiting penal charges

The regulator has found that certain lenders use penal charges as a ‘revenue enhancement tool’, leading to several customer disputes and grievances.

By Chanel | April 13, 2023 11:23 AM Read more
India’s economic growth for 2023 projected to slow down to 6%

The report by United Nations Trade and Development Conference (UNCTAD) further mentioned that global growth could fall to 2.1% for the year, compared to the earlier 2.2% forecast.

By Aadeesh | April 13, 2023 11:06 AM Read more
Union Health Minister mulls strict action against e-pharmacies

The minister will meet with the representatives of e-pharmacies, and discuss the Centre’s concerns over irrational drug sales, malpractices, and data privacy.

By Friyana | April 13, 2023 11:03 AM Read more
BlaBlaCar seeks to expand presence in India; Likely to establish first office in NCR

The firm had about 40 lakh active users in 2022. Its platform allows intercity drivers to offer spare car seats to travellers, thereby sharing the journey's costs.

By Shivani | April 13, 2023 10:50 AM Read more
Health Ministry modifies CGHS package rates

The Ministry of Health and Family Welfare has also simplified the referral process for all beneficiaries falling under the Central Government Health Scheme (CGHS).

By Sajhyadri | April 13, 2023 10:30 AM Read more
Banks take the lead in gold loan rush

As traditional banks gain during the ongoing gold loan rush, NBFCs like Muthoot Finance and Manappuram Finance are struggling to maintain their market share.

By Chanel | April 13, 2023 10:24 AM Read more
IMF: India expected to maintain a stable debt-to-GDP ratio

Paolo Mauro, Deputy Director, Fiscal Affairs Department, International Monetary Fund (IMF), also suggested simplification and rationalisation of GST.

By Friyana | April 13, 2023 10:20 AM Read more
TCS reports nearly 15% YoY growth in Q4FY23 profit

The company also announced a final dividend of ₹24/equity share for the fiscal, and its shares gained by 1% during the trade session of April 12.

By Aadeesh | April 13, 2023 10:16 AM Read more
PhonePe raises additional ₹820 Cr from General Atlantic & co-investors

These funds were raised in a new tranche of the firm’s ongoing $1 Billion fundraising round. It looks to raise another $250 Million (about ₹2,050 Crores) here.

By Friyana | April 12, 2023 06:34 PM Read more
DBS Bank India to launch 2 new credit offerings in FY24

The bank plans to expand its retail portfolio by entering the home loans segment in Q4FY24. It also aims to launch proprietary credit cards by June 2023.

By Sajhyadri | April 12, 2023 05:50 PM Read more
Flipkart’s new supply chain network to boost job creation

The new network in Tamil Nadu features eight facilities, including sortation and fulfilment centres in key locations like Chennai, Hosur, and Coimbatore. It also incorporates 200 delivery hubs.

By Aadeesh | April 12, 2023 05:14 PM Read more
Nestle India declared interim dividend of ₹27 per share

During its 64th Annual General Meeting, the FMCG manufacturer also announced the record date for determining stakeholder eligibility to be April 21, 2023.

By Shivani | April 12, 2023 03:32 PM Read more
Sula vineyards’ shares surge by 11% after Q4FY23 sales update

The company noted a 30% YoY increase in the total sales of its premium and elite wines, while its brand sales exceeded 10 lakh cases in FY23.

By Aadeesh | April 12, 2023 03:32 PM Read more
UBS mulls retaining Credit Suisse’s India-based unit

At present, Credit Suisse has over 40 wealth management staffers in India. Additionally, its overall headcount in the country stands at 7,000 employees.

By Chanel | April 12, 2023 03:07 PM Read more
The Oberoi Group launches Trident Residences in New Delhi

The hospitality chain stated that these apartments will be up for sale by the summer of 2023 and will include a fitness centre, lobby manager and concierge, among other amenities.

By Sajhyadri | April 12, 2023 03:00 PM Read more
BankBazaar to launch its IPO within the next 12-18 months

Prior to its IPO listing, the fintech looks to conduct a fundraiser round and will be guided on the matter by ICICI Securities Limited.

By Friyana | April 12, 2023 02:51 PM Read more
ICICI Prudential Life acquires Infosys shares worth ₹675 Cr

Tata AIA Life Insurance Company Limited and Kotak Mahindra Life Insurance Company Limited also reduced ₹39 Crores worth of their equity in Infosys, each.

By Friyana | April 12, 2023 02:12 PM Read more
WhatsApp looks to secure users’ online safety with new campaign

The campaign, called ‘Stay Safe with WhatsApp’ includes multiple security features, which will help protect users against messaging scams and in cases where their SIM card or phone is compromised.

By Aadeesh | April 12, 2023 01:25 PM Read more
India logs 7,830 new COVID-19 cases; active infections surpass the 40,000 mark

This was stated to be the greatest single-day surge in COVID-19 cases since 1st September 2022, when the country logged 7,946 fresh infections in one day.

By Shivani | April 12, 2023 01:06 PM Read more
SEBI orders AIFs to offer direct plan option to investors

Alternative Investment Funds should also ensure that individuals planning to join them via SEBI-registered intermediaries are added only via direct plans.

By Sajhyadri | April 12, 2023 01:05 PM Read more
Mercedes-Benz India reports record-high sales in FY23

It rose by 26.67% to 16,497 units in FY23. Santosh Iyer, MD and CEO of the firm, attributed this surge to the high demand for the company’s Top-End Vehicles.

By Friyana | April 12, 2023 12:14 PM Read more
NSE launches first-ever REITs and INvITs Index in India

The Nifty Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) Index aims to gauge the performance of REITs and InvITs that are publicly listed and traded on the NSE.

By Aadeesh | April 12, 2023 12:10 PM Read more
SP Group considering asset sales to raise about $2 Bn

Billionaire businessman Shapoor Mistry’s company is looking to sell its controlling share in Mumbai-based Afcons Infrastructure Ltd. and some of its ports.

By Sajhyadri | April 12, 2023 11:55 AM Read more
CBSE exempt from paying taxes with retrospective effect from FY21-25

The Finance Ministry has exempted the board from paying taxes on any revenue earned from textbook sales, examination fees, and publications, among other specified income sources.

By Chanel | April 12, 2023 11:08 AM Read more
Euler Motors lays off nearly 250 employees

The organisation is undergoing a restructuring process aimed at optimising operations. Reportedly, the sacked employees will be provided with severance packages and additional support.

By Shivani | April 12, 2023 10:50 AM Read more
IMF lowers India’s GDP forecast for FY24 by 20 bps

The International Monetary Fund also decreased its global GDP projection for 2023 and 2024 to 2.8% and 3%, respectively. This was a sharp decline from the 3.4% noted in 2022.

By Friyana | April 12, 2023 10:28 AM Read more
Four state governments generate ₹5,800 Cr via SDL auction

RBI had announced that Q1FY24’s indicative State Development Loan (SDL) borrowings may hit ₹2 Trillion, which is 81% higher than Q1FY23.

By Aadeesh | April 12, 2023 10:25 AM Read more
ICICI Bank launches PayLater EMI for UPI payments

Users eligible for the bank’s Buy Now Pay Later scheme can now choose from three instalment periods when paying via UPI QR codes for amounts over ₹10,000.

By Sajhyadri | April 12, 2023 10:00 AM Read more
Number of Indian start-ups grew 300 times since 2014

Union Minister Dr. Jitendra Singh stated that start-ups have increased to over 90,000 from roughly 350 in 2014 after the Prime Minister’s special scheme was rolled out in 2016.

By Sajhyadri | April 11, 2023 06:40 PM Read more
Bitcoin price exceeds $30,000 for first time since June 2022

This development was due to investors’ bets regarding the US Federal Reserve ending its aggressive monetary tightening cycle soon.

By Aadeesh | April 11, 2023 05:31 PM Read more
Royal Enfield to set up a new factory in Tamil Nadu

As per sources, the global 2-wheeler giant has already acquired a land parcel of 60 acres for this purpose in Cheyyar, a town located on Chennai’s outskirts.

By Friyana | April 11, 2023 05:29 PM Read more
SBI Foundation offers ₹30 Lakh grant to 8 social ventures

This was awarded to ventures that operate at the grassroot level. The grant was split between four winners who received ₹6 Lakhs each, while four runners-up got ₹1.5 Lakhs each.

By Aadeesh | April 11, 2023 04:32 PM Read more
General insurance sector’s premium income surges by 16% in FY23

It rose from ₹2.21 Lakh Crores in FY22 to ₹2.57 Lakh Crores in FY23. Meanwhile, a 26% increase was also noted in the premiums of the health insurance industry.

By Friyana | April 11, 2023 04:14 PM Read more
Credit-deposit ratio of banks to rise further in FY24

The latest data from the RBI also supports this view, as presented by industry experts. It shows that the CD ratio has risen to 75.8% as of 24th March 2023.

By Sajhyadri | April 11, 2023 03:35 PM Read more
IndusInd, Bandhan Bank emerge as top lenders in MUDRA Yojana

FY22’s data on the scheme showed these two firms lead, followed by SBI and HDFC Bank Ltd., among others. It was launched on 8th April 2015 to provide micro-credit to entrepreneurs.

By Aadeesh | April 11, 2023 02:55 PM Read more
Bajaj Finserv AMC looks to launch 7 NFOs, seeks SEBI approval

The firm is looking to launch schemes in significant equity categories like flexi-cap, mid-cap, large-cap, arbitrage and balanced advantage funds.

By Aadeesh | April 11, 2023 02:02 PM Read more
Man lost ₹5 Lakhs to imposter posing as Afghanistan’s ex-First Lady

The Mumbai-based senior citizen first received an email from the fraudster in February 2023. She asked for his help to invest in Indian markets and promised a 25% commission.

By Sajhyadri | April 11, 2023 01:50 PM Read more
SCI stock rallies amidst rising privatisation speculations

Requesting anonymity, two government officials said that the Centre is planning to sell off its stake in the Shipping Corp. of India Ltd. (SCI) in May 2023, after putting it off for many years.

By Shivani | April 11, 2023 01:38 PM Read more
ICICI Prudential Mutual Fund launches innovation-themed scheme

The fund’s objective is to produce long-term capital by investing in securities of firms and global ETFs/MFs that may benefit from innovation strategies.

By Friyana | April 11, 2023 01:06 PM Read more
TN: TANGEDCO sets up cyber security team to curb grid hacking

The corporation has established a Security Operation Centre (SOC) and an Information Security Division (ISD) through the redeployment of pre-existing officials for this purpose.

By Aadeesh | April 11, 2023 12:52 PM Read more
Apple to launch first two Indian retail outlets in April

In a statement, Apple mentioned that these new retail locations in Mumbai and Delhi signify a notable expansion, providing people with new ways to discover, browse and purchase its products.

By Aadeesh | April 11, 2023 12:03 PM Read more
Over 2 crore new demat accounts added in FY23

Even amidst sustained volatility and lower returns, 2.48 crore new demat accounts were added in FY23, with a monthly average of over 20 lakhs.

By Friyana | April 11, 2023 12:01 PM Read more
Tata Motors rallies 8% after announcing viable wholesale business growth

During the intra-day trading session of 10th April 2023, shares of Tata Motors Ltd. and Tata Motors – DVR Ltd. surged by about 8% each, with the latter at ₹235.45 apiece.

By Shivani | April 11, 2023 11:46 AM Read more
BCCI office-bearers get allowance hike of up to $1000

These allowance hikes were formally introduced by the organisation’s Apex Council during a meeting, held on 9th April 2023, although it’s been in effect since October 2022.

By Sajhyadri | April 11, 2023 11:25 AM Read more
OfficeBanao raises $6 Mn in seed funding led by Lightspeed

Lightspeed believes that OfficeBanao is well-positioned to change the non-transparent experience plaguing the industry currently, due to its experience and supplier network.

By Aadeesh | April 11, 2023 11:19 AM Read more
RBI: New IT service outsourcing guidelines to be effective from October

RBI revealed that these new norms will be applicable to NBFCs, credit information firms, Indian banks, primary cooperative banks, and all RBI-regulated entities.

By Friyana | April 11, 2023 10:51 AM Read more
SBI aims to raise $2 Bn from foreign bond sales in FY24

The State Bank of India will hold a board meeting on 18th April 2023, to discuss the process, which could involve selling senior unsecured notes in several tranches.

By Sajhyadri | April 11, 2023 10:40 AM Read more
Debit card usage drops 20% YoY, UPI poses challenge

Experts believe that UPI can prevent risks like fraud since users don’t need to type their PIN for payments, unlike debit cards.

By Chanel | April 11, 2023 10:34 AM Read more
India’s e-commerce logistics market to cross 10 billion parcels by FY28

This growth will be driven by new categories, developments in Tier-2+ cities, and D2C brands, according to a report by Redseer Strategy Consultants.

By Aadeesh | April 11, 2023 10:28 AM Read more
India’s EV sales surpassed the 1 Mn mark in FY23

Electric two-wheelers led the segment at 62%, completing sales of 7,26,976 units in the same period, followed by electric-three wheelers, accounting for 34%.

By Shivani | April 11, 2023 10:17 AM Read more
Google Pay glitch: Up to ₹88,000 credited to some users' accounts

Several Reddit users shared their experience with the glitch, where one user received $1,072 (about ₹87,873), while another got $240 (about ₹19,683).

April 11, 2023 09:42 AM Read more
Government building a ChatGPT-like bot to address user grievances

This chatbot will allow customers to converse with it using audio messages in various Indian languages, which will be created via the Bhashini platform.

By Sajhyadri | April 10, 2023 06:20 PM Read more
Triumph transfers its Indian marketing and sales operations to Bajaj Auto

Under the collaboration, which was first announced in 2020, all 15 dealerships of the global automobile major in India, will now be handled by Bajaj Auto.

By Friyana | April 10, 2023 06:14 PM Read more
Practo lays off 41 employees, engineering department impacted

The company clarified that this move was not related to its financial performance as its profits, margins, and revenues are at their all-time high.

By Aadeesh | April 10, 2023 05:41 PM Read more
Savings deposit rates barely changed in current cycle: RBI

This helped banks moderate the overall expenses of funds, and it aided in improving their net interest margins to 3.73% in December 2022 from the year-ago period.

By Sajhyadri | April 10, 2023 05:40 PM Read more
Crude oil, gold retain bullish momentum globally

Gold remains to be a preferred asset class for investors, with spot gold prices rising to a 52-week high level of $2,032 (about ₹1.66 Lakhs) per ounce.

By Friyana | April 10, 2023 05:15 PM Read more
Gold imports fell by 30% in April-February 2023

The precious metal imports declined due to global economic uncertainties and high customs duties, according to data from the Commerce Ministry.

By Aadeesh | April 10, 2023 04:38 PM Read more
7 killed in tree collapse; Govt. to provide ₹4 Lakh compensation

Maharashtra’s Deputy CM, Devendra Fadnavis announced this sum for each of the deceased victims' families. This incident occurred at a temple in the Akola district.

By Sajhyadri | April 10, 2023 04:20 PM Read more
Godrej Properties reports record-high quarterly sales bookings, shares rally

As per the official BSE filing, the sales bookings for the quarter rose to a record-high of ₹4,051 Crores, as it jumped by 56% from ₹12,232 Crores in Q3.

By Friyana | April 10, 2023 04:11 PM Read more
Raymond’s FY24 growth to be nearly double of inflation rate: Chairman

The firm’s MD and Chairman, Gautam Hari Singhania, stated that they are looking at high growth volumes from their new realty business, while their lifestyle venture pushes it further.

By Aadeesh | April 10, 2023 03:31 PM Read more
Apple reports 40% decline in PC shipments

An overall drop in PC shipments was noted in the sector, as it fell by 29% to 5.69 crore units. It dropped to a level lower than that recorded in early 2019.

By Friyana | April 10, 2023 02:37 PM Read more
Over 10% of women officers to be enlisted in Army’s artillery units

In January 2023, the Army Chief General announced opening the Regiment of Artillery to women officers, in a landmark move, followed by the government’s nod to the proposal in March.

By Aadeesh | April 10, 2023 02:34 PM Read more
Housing inventory overhang at 5-year-low in Q4FY23

This was found to be at 20 months for the top seven Indian cities, as per data released by ANAROCK Property Consultants Pvt. Ltd. on 10th April 2023.

By Sajhyadri | April 10, 2023 02:30 PM Read more
Maharashtra Govt. makes vacant land tax mandatory for registration of assets

officials now require plot owners to submit property tax receipts at the time of asset registration, along with proprietor details which are to be incorporated in the adangal (revenue record) copy.

By Shivani | April 10, 2023 02:01 PM Read more
Layoffs continue as ZestMoney to fire 100 workers

The digital payments provider will reduce its workforce by about 20% across departments, as part of its plans to sustain and continue the platform’s operations.

By Sajhyadri | April 10, 2023 01:45 PM Read more
Gold prices drop by 1% as US job data triggers rate hike concerns

Spot govld slipped by 0.9% to touch $1,990.69 (about ₹1.63 Lakhs) per ounce, while US gold futures were down by 1% at $2,006.30 (about ₹1.64 Lakhs).

By Friyana | April 10, 2023 01:41 PM Read more
LTIMindtree delays onboarding freshers, builds fears of elimination

According to freshers, this move may be a way for the company to do away with them, as offer letters will automatically get cancelled for non-participation in the programme.

By Aadeesh | April 10, 2023 01:41 PM Read more
Maruti Suzuki India looks to double SUV sales in FY24

The company is also working towards becoming the market leader in this quick-developing segment. It sold 2.02 lakh SUVs in FY23 and plans on selling about 5 lakh units this fiscal.

By Aadeesh | April 10, 2023 12:52 PM Read more
Amul’s MD: Revenue expected to surge by 20% in FY24

According to Jayen Mehta, the MD of Amul, the enterprise is likely to note a turnover of approximately ₹66,000 Crores, driven by the rise in demand.

By Friyana | April 10, 2023 12:50 PM Read more
Indian start-ups suffer 75% YoY funding decline in Q4FY23

Data from Tracxn showed that the number of funding rounds also fell by 63%, dropping to 301 in the March quarter of 2023 from 816 in the same period of 2022.

By Sajhyadri | April 10, 2023 12:50 PM Read more
India Inc to recruit more transgender employees to boost diversity and inclusion

CEAT Ltd., Larsen & Toubro Ltd., Vedanta Ltd., Tata Steel Ltd., and Mphasis Ltd., etc., are onboarding more LGBTQIA+ workers, especially in leadership positions.

By Shivani | April 10, 2023 12:21 PM Read more
Indiabulls Housing Finance & Oaktree Capital sign a ₹5,000 Cr deal to acquire loans

A jointly formed Special Purpose Vehicle will be utilised to infuse the capital. ₹3,000 Crores and ₹2,000 Crores will be invested by Oaktree Capital and Indiabulls Housing Finance, respectively.

By Friyana | April 10, 2023 12:00 PM Read more
Auto industry watchful about growth prospects amid untimely rains

This sector noted a 21% growth in total retail sales in FY23 but may now see reduced margins this year due to reasons like high-interest rates on loans for autos, increased costs, and rain.

By Aadeesh | April 10, 2023 11:32 AM Read more
Last fiscal’s credit growth highest since FY12

FY23’s loan demand was the greatest in 11 years. This was seen despite banks hiking their lending rates sharply to match external benchmarks.

By Sajhyadri | April 10, 2023 11:30 AM Read more
Hospitals to evaluate COVID-19 preparedness, conduct 2-day nationwide drill 

On 9th April 2023, officials revealed that Mansukh Mandaviya, the Union Minister for Health and Family Welfare, will visit AIIMS Jhajjar to supervise the drill on April 10.

By Friyana | April 10, 2023 10:52 AM Read more
Indian PSBs set to record ₹1 Lakh Crore profit for FY23

Public sector banks are likely to reach this milestone due to robust loan growth, a downtrend in bad loans, a drop in non-performing assets (NPAs), etc.

By Sajhyadri | April 10, 2023 10:40 AM Read more
Spike in spamming induces potential data breach, Bengaluru parents raise concerns

Hundreds of parents from Bengaluru are receiving spam messages/calls from pre-university colleges and coaching institutes, asking whether they need information on admissions.

By Shivani | April 10, 2023 10:35 AM Read more
Hyderabad’s HACK Summit to discuss cyber security

The session is being held on Wednesday, 12th April 2023, and will be conducted by the Hyderabad City Security Council (HCSC) and the Hyderabad City Police Commissionerate.

By Aadeesh | April 10, 2023 10:32 AM Read more
'Mangoes on EMI'; Pune trader announces first-ever offer

The fruit seller, Gaurav Sanas, explained that purchasing mangoes at his shop is similar to buying a mobile phone on EMI.

By Chanel | April 10, 2023 10:26 AM Read more
Hiring in hospitality sector, firms to recruit thousands of workers

These plans are in alignment with the commencement of new hotels and pipeline numbers this year. Mandates for hiring more women staff have also been issued.

By Aadeesh | April 07, 2023 02:39 PM Read more
COVID-19 cases continue to rise; 38.2% infections are XBB.1.16

As per the latest update from the Union Health Ministry, India saw a single-day rise of 6,050 cases on 7th April 2023, with a daily positivity rate of 3.39%.

By Sajhyadri | April 07, 2023 02:15 PM Read more
Housing sales in top 8 cities rise by 22% YoY in Q4FY23

It rose from the 70,630 units recorded in the year-ago period to 85,850 units in Q4FY23. A record-breaking 86% increase in new supply was also reported.

By Friyana | April 07, 2023 01:49 PM Read more
Govt. revises prices for PNG and CNG, to cost 10% less from April 8

This development was notified by Anurag Thakur, Union Information and Broadcasting Minister, following a meeting held by the Cabinet Committee on Economic Affairs.

By Aadeesh | April 07, 2023 01:14 PM Read more
Google revises Play Store policy to limit data access for loan apps

This will prohibit all such apps from seeing customers’ locations, contacts, call logs, photos, videos, etc. to prevent them from harassing borrowers for dues.

By Sajhyadri | April 07, 2023 01:00 PM Read more
Apollo Hospitals launches new AI-based preventive health profile program

It is called ‘ProHealth’, and is a first-of-its-kind innovation that is assisted by a predictive algorithm. It records a person’s health status to make predictions on potential risks accordingly.

By Aadeesh | April 07, 2023 12:20 PM Read more
UPI goes international with PayNow

This linkage between the payment systems of India and Singapore will start a new chapter of smoother cost-effective payments for Indians around the world. 

By Sajhyadri | April 07, 2023 12:15 PM Read more
Morgan Stanley CEO’s salary noted a 13% YoY hike last year

As per the firm’s filing, James Gorman’s net package increased to $39.4 Million in 2022. The revised wage includes delayed compensation for his performance.

By Sajhyadri | April 07, 2023 11:40 AM Read more
Delhi woman loses ₹8.6 Lakhs after clicking suspicious job link

After clicking on the job advertisement link on Instagram, she was contacted by a person named Rahul who directed her to deposit the amount as part of miscellaneous fees for the role.

By Aadeesh | April 07, 2023 11:32 AM Read more
Indian indices end FY24’s first week in green, Sensex closes above 59,000

Benchmark indices did marginally well throughout FY24’s first week with Nifty going past 17,000 points on April 6's close.

By Aadeesh | April 07, 2023 10:50 AM Read more
Repo rate hike pause brings respite for real estate sector

This decision is expected to boost residential real estate sales, especially in the mid-income, low-income, and affordable categories.

By Friyana | April 07, 2023 10:38 AM Read more
Air India hires over 3,800 workers in 6 months

The Tata Group-acquired airline also rolled out around 29 new staff policies and has sent out orders for 470 new planes, under its transformation plan.

By Sajhyadri | April 07, 2023 10:30 AM Read more
Esports industry in India to hit $140 Mn by 2027: Report

The State of India Gaming Report 2022 also showed that esports players grew to around 6 lakhs in 2022. This is expected to rise by another 2.5 times in the next 5 years.

By Sajhyadri | April 06, 2023 06:35 PM Read more
Axis Bank revises FD rates, offers up to 8.01% for senior citizens

These rates have been in effect since 4th April 2023 and will now offer a maximum of 7.26% and 8.01% interest to non-senior citizens and seniors, respectively, on deposits of tenor between 2 years and 30 months.

By Aadeesh | April 06, 2023 05:34 PM Read more
Businessman duped in SIM card swap fraud

The victim was wrongfully issued a replacement for his SIM card, which the fraudsters utilised to receive OTPs and other such alerts, and stole ₹40 Lakhs from his bank account.

By Aadeesh | April 06, 2023 04:48 PM Read more
Amazon to slash employee stock awards

These worker accolades, commonly known as restricted stock units (RSUs), account for a major portion of employees’ compensation packages.

By Shivani | April 06, 2023 04:42 PM Read more
Service sector growth decelerates in March

The S&P Global India Services PMI Business Activity Index was in green for the 20th consecutive month in March 2023, despite falling from February’s 59.4 to 57.8.

By Friyana | April 06, 2023 04:23 PM Read more
Dunzo to fire around 300 workers after getting funds of $75 Mn

The online delivery platform said that this step will help balance its business strategy and turn profitable before its scheduled IPO in 2025.

By Sajhyadri | April 06, 2023 03:40 PM Read more
UPI now the 2nd most preferred repayment mode for digital loans: Report

The report by CASHe further revealed that 84% of customers prefer a credit line over ‘Buy Now, Pay Later’ (BNPL) schemes and personal loans.

By Aadeesh | April 06, 2023 03:32 PM Read more
Private sector banks record firm deposit, credit growth in Q4FY23

This development occurred after lenders like HDFC Bank Ltd., Federal Bank Ltd., and IndusInd Bank Ltd., among others, managed to exceed industry averages.

By Aadeesh | April 06, 2023 02:34 PM Read more
Kotak Mahindra General Insurance, actyv.ai partner to offer bite-sized insurance products

With an aim to support business sustainability, Micro, Small, and Medium Enterprises (MSMEs) will be offered pocket-sized insurance products, through this partnership.

By Friyana | April 06, 2023 02:01 PM Read more
IKF Finance collects ₹250 Cr from Accion, other investors

Accion’s fund made an investment of ₹120 Crores, while the other investments came from other investors, including high-net-worth individuals and family offices.

By Aadeesh | April 06, 2023 01:41 PM Read more
Banks need to assess scalability of their digital apps, says experts

This advice comes after numerous customers complained to many banks about data outages. These typically occur due to an exponential hike in transaction volumes.

By Sajhyadri | April 06, 2023 01:35 PM Read more
RBI’s MPC Meet outcome: Repo rate kept unchanged at 6.5%

On Thursday, 6th April 2023, RBI’s Monetary Policy Committee (MPC) decided against hiking the repo rate, stating that it plans to retain its ‘withdrawal of accommodation’ policy stance.

By Shivani | April 06, 2023 01:07 PM Read more
Net business for BoM rose to ₹4.09 Lakh Crores till Q4FY23

The Bank of Maharashtra announced on 5th April 2023, that it has recorded a 29.59% credit growth for the March quarter, which stood at ₹1.75 Lakh Crores.

By Sajhyadri | April 06, 2023 12:40 PM Read more
Gujarat: Police help cybercrime victims retrieve ₹7L

4 cases of cyber fraud took place in the districts of Junagadh and Rajkot, Gujarat, wherein conmen attempted to dupe off a total of ₹7 Lakhs.

By Shivani | April 06, 2023 12:39 PM Read more
Shriram Finance launches new Unnati Jubilee FD scheme

The scheme will be available only for a limited period. As per the official statement, these special rates have been in effect since 5th April 2023.

By Friyana | April 06, 2023 12:37 PM Read more
IRDAI directs insurers to cut costs and pass on benefits to customers

This was mentioned in its latest guidelines, released on Wednesday, 5th April 2023, and further requested insurance firms to chart out clear plans for this.

By Aadeesh | April 06, 2023 12:01 PM Read more
Govt. sanctioned nearly ₹40,700 Cr under Stand-Up India Scheme

The Centre claims that the scheme has provided loans to over 1.8 lakh ST, SC, and women entrepreneurs, since its inception in April 2016.

By Friyana | April 06, 2023 11:31 AM Read more
SP Group in talks to raise $1.75 Bn by pledging Tata Sons stake

The group is reportedly looking to repay a part of its debt obligations and imbue cash into its operating firms. It has already pledged 9% out of its 18.37% stake in Tata Sons Pvt. Ltd.

By Aadeesh | April 06, 2023 11:20 AM Read more
Apple to open its first retail store in Mumbai soon

On 5th April 2023, the iPhone maker released a photo of the barricade around the new shop called Apple BKC, inspired by Mumbai’s iconic ‘Kaali Peeli’ taxi art.

By Sajhyadri | April 06, 2023 10:50 AM Read more
National Savings Certificate interest rate for Apr-Jun is now 7.7%

The new rate has increased by 70 bps and will be locked for five years on investments made during the ongoing quarter.

By Aadeesh | April 06, 2023 10:32 AM Read more
Booking window for 2023 Kia EV6 to open from April 15

Its 2 variants, the GT Line and GT Line AWD, will be available at a manufacturer’s suggested retail price (MSRP) of ₹60.95 Lakhs and 65.95 Lakhs, respectively.

By Friyana | April 06, 2023 10:29 AM Read more
Pandemic forced 40% salaried workers to take up jobs with casual wages

The rate lowered to 20% in Q2 of 2021. As per the recent India Development Update regarding urban workers, 39% of male and 25% of female workers were affected by the pandemic in Q2 of 2020.

By Friyana | April 06, 2023 09:32 AM Read more
Office leasing surges by 9% YoY in Q4FY23

In the January-March 2023 quarter, development completions amounted to approximately 1.16 crores sq. ft, as it increased by 31% from the year-ago period.

By Friyana | April 06, 2023 09:19 AM Read more
Debt fund investments rose to ₹31,708 Cr in March-end

This surge was reportedly seen after the Finance Bill amendment, which classified capital profits from debt mutual funds as short-term capital gains only.

By Sajhyadri | April 05, 2023 06:30 PM Read more
Mukesh Ambani becomes Asia’s richest person again

Ambani took the 9th spot on the Forbes Billionaires 2023 list, released on 4th April 2023, with a net worth of $83.4 Billion (about ₹6.83 Lakh Crores).

By Friyana | April 05, 2023 06:21 PM Read more
Layoffs at ICRC amidst fall in humanitarian aid resources

About 1,500 employees spread across countries will be let go, while activities in certain areas will be scaled down. It also plans on closing 20 of its operations located globally.

By Aadeesh | April 05, 2023 05:49 PM Read more
Wipro Consumer Care sales surpassed ₹10,000 Cr in FY23

The company also stated that, during the same period, its business grew by 17%, while some of its brands like Santoor and Enchanteur generated revenues of over ₹1,000 Crores.

By Shivani | April 05, 2023 05:47 PM Read more
Quick service restaurants expanding rapidly in India

This is being done due to the expectations of companies of strengthened consumer demand from non-metro and metro cities, in the upcoming quarters.

By Aadeesh | April 05, 2023 04:58 PM Read more
Reliance Industries and Jio raise $2 Bn loan in foreign exchange

This fundraising deal comes days after the two companies successfully received a high-demand syndication loan of $3 Billion from around 55 global lenders.

By Sajhyadri | April 05, 2023 04:55 PM Read more
Carmakers & dealers to entice buyers with pre-pandemic level discounts

These include dealer-level, corporate, and direct discounts, alongside exchange offers. This is amidst concerns regarding the falling demand and excess stock.

By Friyana | April 05, 2023 04:34 PM Read more
Papa John’s aims to open 650 joints in India by 2033

This move marks the firm’s re-entry into the country after shutting down operations in 2018 due to the failure in scaling its business with the previous partner.

By Aadeesh | April 05, 2023 04:21 PM Read more
Automobile sales surge by 14% YoY in FY23

3-wheeler sales surged by 69%, noting an all-time high of 86,857 units in March 2023. 2-wheeler and commercial segments grew by 12%, and 10%, respectively.

By Friyana | April 05, 2023 03:41 PM Read more
Have you heard that NSE is increasing equity trading hours?

On 21st February 2023, NSE India Ltd. extended the trading duration for interest rate derivatives to 8 hours. Find out how this can benefit market participants.

By Sajhyadri | April 05, 2023 03:00 PM Read more
Major cryptocurrencies rally by almost 70% after a year of losses

On Tuesday, 4th April 2023, Bitcoin’s year-to-date gains between January 1-April 4 stood at 68.56%, achieving a valuation of $28,280 per token (approx. ₹23.24 Lakhs)

By Shivani | April 05, 2023 02:34 PM Read more
Smartphone shipments likely reduced by 15% in Q1CY23

These sales were higher in January 2023, owing to online purchases made around Republic Day, but fell in February due to a decrease in post-sale footfalls. 

By Aadeesh | April 05, 2023 02:28 PM Read more
Indian firms may see lower wage hikes of 8-10% in FY24

After several companies reported high employee expenses last fiscal, HR experts predicted that workers are likely to receive the lower end of their increment range.

By Sajhyadri | April 05, 2023 02:10 PM Read more
Ministry of Corporate Affairs amends rules of Indian Accounting Standards

Under this, companies must now disclose details of their ‘material’, rather than ‘significant’ accounting policies in their financial statements.

By Friyana | April 05, 2023 02:09 PM Read more
ASSOCHAM requests RBI to halt interest rate hikes

Ajay Singh, ASSOCHAM’s President, stated that further hikes would go past the saturation point. This could become challenging for rate-sensitive sectors.

By Aadeesh | April 05, 2023 12:04 PM Read more
Mankind Pharma looks to launch ₹4,700 Cr IPO

An individual aware of the development stated that this fundraiser is slated to be one of the biggest of the ongoing fiscal and will be dependent on regulatory approvals.

By Aadeesh | April 05, 2023 11:26 AM Read more
IPL streaming attracts 10 crore new viewers to JioCinema

On the opening weekend, JioCinema noted over 147 crore video views and 5 crore new app downloads. Its new viewers came from the country’s top metros, Tier 1 and 2 towns.

By Friyana | April 05, 2023 10:51 AM Read more
India’s sports media expenses crossed ₹14,000 Cr in 2022

According to a report from the media investment firm GroupM, these costs, including celebrity endorsements and on-ground sponsorships, saw a jump of around 49%.

By Sajhyadri | April 05, 2023 10:50 AM Read more
521 new COVID-19 cases recorded in Delhi, highest one-day rise since August

The positivity rate was 15.64% on Tuesday, while the city’s COVID-19 death toll stands at 26,533. Most patients reportedly tested positive for XBB1.16 and its sub-variants.

By Shivani | April 05, 2023 10:21 AM Read more
Bajaj Finance reports 20% YoY jump in loan bookings for Q4FY23

The company’s loan bookings in the period under review grew to 76 lakhs, compared to 63 lakhs in FY22’s corresponding quarter.

By Aadeesh | April 05, 2023 10:18 AM Read more
Hyundai hikes prices of Creta, Venue, and other top models

The decision was taken after the firm reported a rise in input costs, along with upgrades made to the car engines to meet the new BS6 phase II emission standards.

By Friyana | April 05, 2023 09:31 AM Read more
Fraudster scams techie of ₹6 Lakhs by posing as IPS officer

The criminal informed the victim that her bank account and identity were being misused for ‘international terror funding’ and he took the amount to verify her account.

By Aadeesh | April 04, 2023 11:53 PM Read more
PhonePe introduces new e-commerce app on ONDC platform

On 4th April 2023, PhonePe Private Limited revealed the launch of its new shopping application, Pincode on the platform. It will focus on hyperlocal trade.

By Friyana | April 04, 2023 06:50 PM Read more
BYJU’s generates $700 Mn in new fundraising round

The fundraiser involves two separate deals of convertible notes and equity, which may be announced in the next two weeks. This move will help the firm sustain its liquidity crunch.

By Aadeesh | April 04, 2023 06:04 PM Read more
Over 2,000 job cuts at Walmart’s e-comm warehouses

Walmart is likely to terminate 1000, 600, 400, and 200 positions at Walmart’s facilities located in Texas, Pennsylvania, Florida and New Jersey, respectively.

By Shivani | April 04, 2023 05:56 PM Read more
Non-metro cities note employment growth in March

The Naukri JobSpeak Index revealed this data, as it noted a marginal increase of 5% on a YoY basis in March 2023 and remained flat in comparison to the month prior.

By Friyana | April 04, 2023 05:36 PM Read more
Haldiram Foods & Haldiram Snacks to demerge into single entity

The Competition Commission of India has approved the step and agreed to the proposed acquisition of the two FMCG firms into Haldiram Snacks Food Pvt. Ltd.

By Sajhyadri | April 04, 2023 05:15 PM Read more
Taco Bell partner looking to open 470 new outlets by 2030

With this, Burman Hospitality Pvt. Ltd. aims to bring the overall store count to 600, from the current 130, despite inflationary pressures slowing down demand.

By Aadeesh | April 04, 2023 04:46 PM Read more
ICICI Bank discontinues special FD scheme for senior citizens

After it was extended several times, the ICICI Bank Golden Years FD scheme offered by ICICI Bank Limited will be stopped on 7th April 2023.

By Friyana | April 04, 2023 03:06 PM Read more
SHFL to set up 10 more Small Business Loan branches in Tamil Nadu

Sundaram Home Finance Ltd. (SHFL) plans to open 10 more SBL branches in the state and hire around 100 additional workers, due to the success of its lending business.

By Sajhyadri | April 04, 2023 02:55 PM Read more
Start-up employees distressed about work pressures, look for new jobs

Multiple pressures like unachievable targets, persistent fear of layoffs, and toxic work cultures are troubling employees, forcing them to take such drastic measures.

By Aadeesh | April 04, 2023 02:34 PM Read more
HDFC Bank loan growth hikes by 17% in FY23

On a similar note, the private sector lender’s rural and commercial loans grew by roughly 30% over the figure noted on 31st March 2022.

By Chanel | April 04, 2023 02:20 PM Read more
SBI restores digital services after resolving technical glitch

The issue, which occurred on 4th April 2023, impacted many features of the bank, like UPI and Netbanking. It also caused failures during money transfers and credit card payments.

By Aadeesh | April 04, 2023 01:42 PM Read more
10% drop in white-collar job vacancies in India

This fall disrupted the sustained trajectory of growth in the Indian job market, as seen since October 2022, data compiled by Xpheno Private Limited revealed.

By Friyana | April 04, 2023 01:18 PM Read more
Augmentin tops February sales due to rising corona & flu cases

Sales of the anti-bacterial drug earned around ₹80 Crores in India’s pharma retail market, marking a 24% revival in the sector worth about ₹2 Lakh Crores.

By Sajhyadri | April 04, 2023 12:50 PM Read more
NBFCs lending to small firms to log inflows of $15 Bn

According to Avendus’ report, of India’s 6.4 crore MSMEs, only about 14% are able to access credit. The firm’s MD believes that this sector is the backbone of the economy.

By Chanel | April 04, 2023 12:13 PM Read more
India Inc. reported improved credit quality in FY23

Data released by multiple rating agencies showed that Indian companies’ credit quality remained resilient, despite experiencing inflationary pressures.

By Shivani | April 04, 2023 11:02 AM Read more
Swiggy CTO resigns to pursue his business venture

Swiggy announced that Madhusudhan Rao will replace Dale Vaz as the CTO. The latter will continue his role until May and will operate as an advisor for an extended duration.

By Aadeesh | April 04, 2023 10:54 AM Read more
Dhanlaxmi Bank records over 23% surge in gold loan book

The private sector bank recorded a 7.45% uptick in total deposits that surged from ₹12,403 Crores in March 2022, to ₹13,327 Crores in the same period this year.

By Friyana | April 04, 2023 10:46 AM Read more
BookMyForex enters partnership with Go First Airlines

The companies aim to provide hassle-free and seamless foreign exchange services to international travellers. Moreover, the partnership will look to strengthen the airline’s platform.

By Friyana | April 04, 2023 10:41 AM Read more
Direct tax collection for FY23 beats Budget Estimate

As per the data presented by the Finance Ministry, on 3rd April 2023, around ₹3.07 Lakh Crores were issued in FY23 as refunds.

By Chanel | April 04, 2023 10:20 AM Read more
Aeroflex Industries to launch ₹350 Cr IPO

It will consist of a fresh issue worth ₹160 Crores, along with an offer for sale (OFS) of up to ₹190 Crores by its promoters and existing shareholders.

By Friyana | April 03, 2023 06:33 PM Read more
Jharkhand Govt. expands pension coverage, 15 lakh people added in over 3 years

Data from the Department of Women, Child Development & Social Security revealed that there are now 21.45 lakh pensioners in the state, compared to the 6.6 lakh seen in November 2000.

By Aadeesh | April 03, 2023 05:28 PM Read more
Gujarat: Couple duped of over ₹1 Cr in cyber fraud

The scamsters had asked them to watch and rate movies. For this task, they were promised a daily income of ₹2,500 to ₹5,000.

By Friyana | April 03, 2023 04:54 PM Read more
Online doctor appointment scam used to dupe people

According to the police, there have been two such instances in the past week, where victims lost a combined amount of ₹2 Lakhs to cybercriminals.

By Aadeesh | April 03, 2023 04:37 PM Read more
Govt. initiates 3-month programme to boost social security schemes

This will be conducted from April 1 to June 30, the Ministry of Finance revealed in an official press release on Friday, 31st March 2023.

By Friyana | April 03, 2023 04:24 PM Read more
Bank of India raises FD rates on special term deposits

As per the bank, an additional 0.15% interest will be provided to super seniors, taking the rate up to 7.80%, as part of the ‘limited period special scheme’.

By Aadeesh | April 03, 2023 03:54 PM Read more
SpiceJet completes separation of its cargo and logistics business

The airline informed that its subsidiary, SpiceXpress, can now raise funds independently. Moreover, SpiceJet expects one-time earnings of up to ₹2,555.77 Crores.

By Friyana | April 03, 2023 03:28 PM Read more
Oil prices surge by almost 6% post OPEC+ output cuts

Major oil producers including OPEC+ cartel announced that they plan to reduce their outputs by over a million barrels per day, thereby inducing fears of another price hike.

By Shivani | April 03, 2023 03:17 PM Read more
Centre might levy 0.3% payments fee to make UPI viable: Study

According to the study, conducted by an IIT Bombay professor, this uniform facilitation fee could help fund the infrastructure needed for such transactions.

By Sajhyadri | April 03, 2023 03:15 PM Read more
Amul reveals performance data; revenue surged over 18% in FY23

The company noted a revenue of up to ₹55,055 Crores for the fiscal under review. This was driven by the rise in demand for branded consumer items.

By Friyana | April 03, 2023 02:41 PM Read more
Fuel sales growth in March declines due to untimely rains

Aside from the slowdown in the country’s petrol and diesel consumption growth, sudden rains also affected India’s farm sector and relevant transportation requirements.

By Aadeesh | April 03, 2023 02:41 PM Read more
I-T Dept. hurries tax evasion orders to meet 31st March deadline

These assessment orders were issued after the Income Tax Department sent show-cause notices for tax evasion-related offences, as per the Black Money Act, 2015.

By Sajhyadri | April 03, 2023 01:55 PM Read more
Kolkata’s housing registration up by 83% YoY in February

A report by Knight Frank LLP stated that 2,922 residential apartments were registered that month, compared to 1,593 in 2022’s corresponding period.

By Aadeesh | April 03, 2023 01:32 PM Read more
India’s manufacturing activity soared to 3-month high in March

Despite multiple rounds of layoffs in the manufacturing sector, its output and new order tally shot up, while input cost inflation fell.

By Shivani | April 03, 2023 01:23 PM Read more
Lack of cyber security professionals in India; 20K positions remain vacant

About 20,000-25,000 such positions remain vacant in India and are expected to keep rising as telecommunication firms boost 5G rollouts.

By Friyana | April 03, 2023 01:01 PM Read more
New Omicron subvariant accountable for 60% of COVID-19 cases

A member of the Indian SARS-CoV-2 Genomics Consortium (INSACOG) further stated that 25-30% of all infections are of the XBB variant’s sub-lineages.

By Aadeesh | April 03, 2023 12:45 PM Read more
Up to 36,000 jobs may be cut after UBS-Credit Suisse merger

Before the merger, Credit Suisse and UBS had a total headcount of about 50,000 and 72,000 employees, respectively.

By Chanel | April 03, 2023 12:11 PM Read more
RBI may increase benchmark interest rate by 25 bps

The central bank is likely to hike its repo rate on Thursday, 6th April 2023, in an attempt to control retail inflation and keep up with its global counterparts.

By Shivani | April 03, 2023 11:50 AM Read more
Jobs created by ChatGPT, AI can offer annual salaries of over ₹2 Cr

The new role of prompt engineers requires people to work with AI and obtain desired results while helping firms better equip their staff with such tools.

By Aadeesh | April 03, 2023 11:47 AM Read more
UPI transaction volumes hit 870 crores in March

In FY23, ₹14.05 Lakh Crores worth of payments were made via UPI, rising by 46% against FY22, when 5,406 transactions worth ₹9.6 Lakh Crores were processed.

By Friyana | April 03, 2023 11:44 AM Read more
Private data of 66.9 crore citizens stolen and sold

A senior official with Cyberabad Metropolitan Police said that notice has been served to around 11 firms for them to provide details on their database maintenance.

By Sajhyadri | April 03, 2023 11:30 AM Read more
Govt’s total liabilities rose to ₹151 Lakh Crores in Q3FY23

As per the Finance Ministry’s data, public debt accounted for roughly 89% of the total outstanding liabilities in December 2022’s quarter. This is less than September’s 89.1%.

By Chanel | April 03, 2023 11:11 AM Read more
McDonald’s to issue pink slips, temporarily closes US offices

A report by The Wall Street Journal revealed that the firm sent an email to the US employees, directing them to work from home for three days so that layoff decisions can be delivered virtually.

By Aadeesh | April 03, 2023 11:03 AM Read more
e-Market procurements via GeM exceeds ₹2 Lakh Crores

The Government e-Marketplace's (GeM) creation falls under Shri. Narendra Modi’s objective of operating government departments with high transparency and integrity.

By Aadeesh | April 03, 2023 10:21 AM Read more
India’s jobless rate hits 3-month high in March: CMIE

In recent times, the country has fallen behind in job creation. However, Shri. Narendra Modi has assured citizens that this problem will be addressed shortly.

By Chanel | April 03, 2023 10:19 AM Read more
Govt. hikes small savings schemes’ interest rates by up to 70 bps

On 31st March 2023, the Centre increased the interest rates applicable on 10 small savings schemes for the upcoming quarter of April-June 2023, with the highest offering being 8.2%.

By Shivani | April 03, 2023 10:18 AM Read more
8 States set up supervisory bodies to monitor direct selling activities

The authorities aim to boost the regulatory framework to eliminate organisations offering fraudulent schemes while safeguarding direct sellers’ interests.

By Friyana | April 03, 2023 10:10 AM Read more
Indices close FY23 in green; Sensex surged over 1,000 pts

Benchmark indices largely performed well during the last week of FY23. Friday’s session, on 31st March 2023, saw Nifty shoot past the 17,200 level.

By Chanel | March 31, 2023 07:28 PM Read more
Union Minister: India remains a bright spot despite global uncertainties

The Union Minister of Commerce and Industry, Piyush Goyal, cited some reports, stating that India may soon become the fastest-growing economy.

By Friyana | March 31, 2023 06:59 PM Read more
Bengaluru firm gifts ChatGPT Plus subscription to employees for better productivity

Capitalmind announced reimbursing employees for their subscriptions and mentioned that this programme has improved their productivity by around 5x.

By Aadeesh | March 31, 2023 06:37 PM Read more
CMIE: Customer sentiments rise by 6.7% in week ended March 26

The Centre for Monitoring Indian Economy (CMIE) noted a 0.86% average weekly customer sentiment increase, while the median surged by 0.93%, for the last 60 weeks.

By Friyana | March 31, 2023 05:58 PM Read more
ZestMoney considers layoffs after PhonePe deal falls through

The Goldman Sachs-backed company conducted a town hall on 30th March 2023, where its 450 workers were informed of layoffs across departments.

By Aadeesh | March 31, 2023 05:52 PM Read more
Zee signs a one-time settlement agreement with Standard Chartered Bank

It signed the agreement in adherence to the DSRA (Debt Service Reserve Account) claims/undertaking, as Siti Network Ltd. failed to repay its loans.

By Friyana | March 31, 2023 05:33 PM Read more
OpenAI confirms ChatGPT bug leaked users’ payment data

Besides this data, titles from someone’s chat history could have potentially become visible to others, if users were online at the same time.

By Aadeesh | March 31, 2023 04:53 PM Read more
Foreign Trade Policy 2023 to boost India’s global trade ties

The new policy, which was released on 31st March 2023, is expected to boost the country’s economy, enhance global trade ties, and promote sustainability.

By Adity | March 31, 2023 04:29 PM Read more
New guidelines for hallmarked gold sales to kick in from April 1

These new guidelines are aimed at safeguarding consumer interests by increasing their trust towards hallmarked gold jewellery with quality assurance and traceability.

By Friyana | March 31, 2023 04:04 PM Read more
ICICI Securities to double its wealth manager headcount

As the wealth management industry in India continues to grow, financial institutions are now deploying more resources to attract affluent customers.

By Amirtha | March 31, 2023 03:43 PM Read more
Indian firms’ fundraising fell by 10% in FY23: Report

Fundraising through overall market instruments declined to ₹11.73 Lakh Crores in the ongoing fiscal year compared to FY22.

By Aadeesh | March 31, 2023 03:42 PM Read more
Semiconductor firms in India to build talent pool

There is a need for engineers who are skilled in domain-specific and new-age tech. India is looking to position itself as the next major semiconductor manufacturing hub.

By Tina | March 31, 2023 02:11 PM Read more
Average prices rise as premium product sales surge in India

As per data provided by GfK India, the average selling price (ASP) has increased by up to 18% across several categories in 2022.

By Friyana | March 31, 2023 02:03 PM Read more
Maharashtra notes 63% daily jump in COVID-19 cases on March 30

The state recorded 694 new cases on Thursday, which was higher than the previous day’s count of 483. No deaths have been reported in this duration.

By Aadeesh | March 31, 2023 02:01 PM Read more
What to do if your employer delays EPF contribution?

As a salaried employee, you are entitled to a monthly contribution from your employer in your PF account. Find out what to do if there is a delay in this!

By Sajhyadri | March 31, 2023 01:30 PM Read more
PhonePe drops ZestMoney acquisition

As per reports, ZestMoney may struggle to find a new buyer due to little cash runway and significant debt. Meanwhile, PhonePe might offer the firm another line of credit.

By Adity | March 31, 2023 01:27 PM Read more
Virgin Orbit to cease operations, lays off 85% of workforce

The company made this decision after it failed to obtain additional funding for its operations and noted a swift decline in its business undertakings.

By Aadeesh | March 31, 2023 01:11 PM Read more
Navi Mumbai: Woman duped of over ₹2 Lakhs in Bitcoin fraud 

Under the pretext of high returns, the fraudster convinced the victim to transfer her money into two separate bank accounts.

By Friyana | March 31, 2023 12:31 PM Read more
Google’s laid off staff may receive ₹2.6 Crore in severance pay

The firm's staff in Ireland could get this amount, if they were employed under the company since 2003, the year it commenced its operations in the country.

By Aadeesh | March 31, 2023 12:09 PM Read more
Swiggy delivered 3.3 crore plates of Idlis last year

The food delivery company also highlighted that one user from Hyderabad placed orders worth ₹6 Lakhs for Idlis in the last 12 months.

By Aadeesh | March 31, 2023 11:01 AM Read more
Adani aims for 20% annual earnings growth to repay $23 Bn debt

People aware of this matter revealed that the Adani Group is redirecting its efforts on increasing business efficiency and debt reduction, rather than rapid expansion.

By Aadeesh | March 31, 2023 10:18 AM Read more
Wife of Ex-Attorney General of India buys a ₹160 Cr bungalow in Delhi

The property, located in the Golf Links locality, is stretched across 1806.35 sq. m. of plot land and the entire building’s covered area is 1869.7 sq. m.

By Friyana | March 31, 2023 10:05 AM Read more
Attrition rates in IT sector down to pre-pandemic levels

The average pay hikes offered by Indian companies to slip as the IT sector faces client shortages. Keep reading to know how this can affect you!

By Amirtha | March 30, 2023 07:06 PM Read more
J. P. Taparia family buys the most expensive residence in India

The family bought a sea-facing triplex apartment built by the Lodha Group in Malabar Hills, South Mumbai, for ₹369 Crores.

By Friyana | March 30, 2023 07:04 PM Read more
Apple may remove SIM trays in newer iPhone models

Starting in 2023, the firm will be taking off the eSIMs of its iPhones in France. If Apple goes ahead with this move, it’s likely that the same will be done in other parts of Europe.

By Amirtha | March 30, 2023 06:19 PM Read more
Magicpin becomes the biggest restaurant aggregator on the ONDC network

It has more than 22,000 restaurants operational in India and plans to introduce 5,000 more on the network within the next 3 months.

By Friyana | March 30, 2023 06:15 PM Read more
Govt: Import duty exempted on drugs to treat rare diseases

Before this move, the annual costs for such treatments were revealed to be significant, ranging between ₹10 Lakhs and over ₹1 Crore.

By Aadeesh | March 30, 2023 06:05 PM Read more
Asian stocks rise as banking crisis fears settle

For the third consecutive day, a hike was reported in MSCI Inc.’s broadest Asia-Pacific shares’ index outside Japan, as it rose by 0.3% on 30th March 2023.

By Friyana | March 30, 2023 05:27 PM Read more
Google cut out more than 5.2 billion ads in 2022: Report

In addition, over 43 lakh promotional content was restricted and more than 67 lakh advertiser accounts were suspended by the company, as per its Ad Safety Report 2022.

By Aadeesh | March 30, 2023 04:58 PM Read more
Delhi real estate: DDA approves ₹7,643 Cr budget, Elante Group launches projects

The DDA has also allotted ₹1,767 Crores for the construction and completion of houses. Meanwhile, Elante Group’s latest projects are located in two of Delhi’s most premium areas.

By Tina | March 30, 2023 04:48 PM Read more
Mumbai-Pune Expressway toll to rise by 18% from April 1

A senior executive said that while it increases by 6% annually, the 18% rate hike is done once in 3 years, as per the notification issued on August 9, 2004.

By Aadeesh | March 30, 2023 03:59 PM Read more
Sahara-SEBI fund: SC allows withdrawal of ₹5000 Cr to repay depositors

The amount will be taken from the roughly ₹24,000 Crores parked in the Sahara-SEBI escrow account. It will be transferred to depositors within 9 months.

By Friyana | March 30, 2023 03:54 PM Read more
Gold prices fall against firmer Dollar, reduces banking concerns

The Dollar Index also became higher, making the bullion less affordable for buyers with other currencies. Players are on the lookout for the US Fed’s data, due on Friday.

By Aadeesh | March 30, 2023 02:55 PM Read more
SEBI allows AMCs to launch more than one ESG scheme

Due to the global popularity of ESG funds, Indian policymakers are encouraging such investments. During market crashes, investors are likely to opt for these assets.

By Amirtha | March 30, 2023 02:48 PM Read more
Alliance Group acquires 9 acre-land in MWC Chennai

The real estate, acquired on a perpetual lease will be utilised by the Alliance Group to construct a multi-storey residential project called Urban Rise.

By Friyana | March 30, 2023 02:20 PM Read more
Unacademy sacks 12% staff in 4th layoff round

The edtech startup cited cost-cutting measures for the newest layoff. Its CEO explained that the venture had earlier taken steps to turn the business profitable.

By Tina | March 30, 2023 02:09 PM Read more
Delhi Development Authority’s FY24 budget to emphasise housing projects

This outlay will be used for renewing the civic infrastructure of Dwarka, Narela, and Rohini, and finishing outstanding residential projects.

By Aadeesh | March 30, 2023 01:50 PM Read more
FM: PSU banks recovered only 14% of written-off loans in 5 years

Out of this share, state-owned lenders only retrieved ₹1.03 Lakh Crores, meaning that the net written-off dues came to ₹6.31 Lakh Crores after the recovery.

By Aadeesh | March 30, 2023 12:57 PM Read more
Infosys to onboard defence veterans in India

The firm has already received a positive response for its first group of hired army veterans. This programme is presently operational at Infosys Public Services in the US.

By Chanel | March 30, 2023 12:29 PM Read more
TVS Emerald & HDFC Capital to set up a ₹1,000 Cr plotted development projects platform

This platform will cater to plotted development projects in Bengaluru and Chennai. Through the partnership, TVS Emerald wishes to grow its portfolio in southern India.

By Friyana | March 30, 2023 12:14 PM Read more
MF firms push for debt funds as tax benefits end soon

Retail investors are being encouraged to invest in debt funds by 31st March 2023. The demand for them is being led by HNIs, who are looking for gains after tax and indexation.

By Aadeesh | March 30, 2023 12:10 PM Read more
Apple’s ‘Made-in-India’ iPhone shipments hiked by 162%

Last year, the 'Made-in-India' smartphone shipment segment was led by Oppo with a share of 22%, followed by Samsung.

By Chanel | March 30, 2023 11:53 AM Read more
ICMR studies post-pandemic rise in sudden heart attacks

On 29th March 2023, the Union Health Minister informed that he held three meetings with scientists, regarding the matter. At present, they have data on comorbidity and vaccination.

By Chanel | March 30, 2023 11:26 AM Read more
Alibaba to split business into 6 groups as a restructuring move

Through this, the Chinese conglomerate can explore various listing or fundraising opportunities and also bring down widespread regulatory crackdowns.

By Aadeesh | March 30, 2023 11:24 AM Read more
Central Govt. to borrow nearly ₹9 Lakh Crores in H1FY24

These ₹8.8 Lakh Crores will be raised from the market through the issuance of bonds. The amount is more than double the figure in 2019.

By Friyana | March 30, 2023 11:10 AM Read more
SEBI allows PE funds to sponsor MF, strengthens trustee accountability

The board of the regulatory body further permitted self-sponsored asset management companies (AMC) to keep conducting the MF business.

By Friyana | March 30, 2023 11:06 AM Read more
Delhi’s COVID-19 cases jump to 300, logs 2 deaths

The positivity rate for 29th March 2023, rose to 13.89%, as revealed by the city’s health department. Meanwhile, 214 new cases were recorded on Tuesday.

By Aadeesh | March 30, 2023 10:12 AM Read more
Non-residents without PAN to file Form 10F manually by September 30

This extension will likely provide relief to such individuals, owing to their difficulties in receiving tax treaty benefits, and residents who engage in foreign remittances.

By Aadeesh | March 30, 2023 09:37 AM Read more
UPI payments remain free for customers, NPCI clarifies

In the statement released on 29th March 2023, the authorities affirmed that the interchange charge will not be levied on customers, but on PPI merchant payments.

By Friyana | March 30, 2023 09:11 AM Read more
GoMechanic acquired by LifeLong Group consortium

While the financial transaction remains unknown, the acquisition is said to prove beneficial for the Lifelong Group and the current employees of GoMechanic.  

By Harleen | March 29, 2023 06:51 PM Read more
ICICI Bank hikes bulk FD rates

The bank will now offer returns of 4.75% to 6.75% on FDs maturing between 7 days and 10 years. These new rates will be effective from 29th March 2023.

By Friyana | March 29, 2023 06:45 PM Read more
realme shuffles Indian arm’s upper management

The firm has promoted Madhav Sheth to VP of Business and Corporate Strategy (Global). realme will utilise his expertise and global background to strengthen its brand in overseas markets.

By Harleen | March 29, 2023 06:41 PM Read more
40% Army officers retire with disability pension, CAG orders probe

It was revealed that about 36-40% of officers and 44-58% of medical officers received this pension. CAG has requested the Army HQ and the Ministry of Defence to identify the reasons for this.

By Aadeesh | March 29, 2023 06:37 PM Read more
Developers offer attractive deals to lure homebuyers

Free furniture and modular kitchens are some gifts being given to potential customers this festive season. Cars and gold coins are also offered by some firms.

By Friyana | March 29, 2023 06:00 PM Read more
Microsoft launches Open AI GPT-4 based cyber defence system

This cyber security product can help professionals battle attackers through 65 lakh crore signals intercepted daily, increasing cyber safety worldwide.

By Harleen | March 29, 2023 05:50 PM Read more
₹235 Cr stolen by cybercriminals recovered in real time: Amit Shah

This was achieved with the help of the Indian Cyber Crime Coordination Centre (I4C), and over 250 financial intermediaries and banks to assist with conducting quick actions to help stop illegal transactions.

By Aadeesh | March 29, 2023 05:43 PM Read more
Pune man lost over ₹1 Lakh to online loan scam

A man from Pune was duped of ₹1.45 Lakhs by a cyber fraudster posing as a caller from a finance firm. The victim had been looking to apply for a loan.

By Amirtha | March 29, 2023 05:34 PM Read more
Over 500 apps blocked for cyber fraud, spoofing: Home Minister

The Union Home Minister, on 28th March 2023, disclosed that over 500 internet applications have been blocked and the Centre has taken initiatives for improved cyber security.

By Tina | March 29, 2023 05:16 PM Read more
Bajaj Finserv Direct Ltd., Ambit Finvest partner to launch new D2C loan platform

The new D2C app will serve as a web-based digital lending platform to provide loans to MSME owners via a fully automated and digital onboarding procedure.

By Aadeesh | March 29, 2023 04:37 PM Read more
Unified reservation system adopted by AirAsia India & Air India Express

Under this, both airlines have moved to a single website and adopted common customer support and social media channels.

By Friyana | March 29, 2023 04:33 PM Read more
Nearly 80% of early-stage start-ups lean towards workforce expansion

As per a report released recently, a 30% increase in hiring is anticipated by 31.92% of start-ups, while 28.08% plan team expansion in the 11-20% range.

By Friyana | March 29, 2023 03:25 PM Read more
Major growth in media consumption in India: Report

Video consumption on digital media platforms continues to grow in India, says a report by BCG. Pay-TV households are also steadily rising in the country.

By Amirtha | March 29, 2023 03:23 PM Read more
SVC & LAHARI initiates new realty project in Faridabad

he project is based on the theme of nature, and will include various green spaces, kids’ playing areas, temples, parks and will feature modern facilities and amenities.

By Aadeesh | March 29, 2023 02:45 PM Read more
SBI to conduct engagement survey for over 4 lakh employees

Employee engagement survey, ‘Abhivyakti’, is to be organised in SBI on a pan-institution level.

By Harleen | March 29, 2023 02:44 PM Read more
Apple rolls out new BNPL feature to boost sales

The new scheme offers customers a small ticket loan ranging from $50-$1000, splitting the repayment into 4 instalments. This is only applicable to in-app and online purchases.

By Tina | March 29, 2023 02:36 PM Read more
SEBI: Deadline for mutual funds nomination extended to Sep 30

Mutual funds holders are required to provide nomination details or declare their exclusion from it, in order to prevent their accounts from getting frozen, before the new submission date.

By Aadeesh | March 29, 2023 02:07 PM Read more
COVID-19 cases surge by 3.5x in 32 districts across India

In the last two weeks, 32 Indian districts, with more than 10% TPR, saw a 3.5 times surge in the number of COVID-19 cases. 

By Harleen | March 29, 2023 02:02 PM Read more
SML Isuzu announces price hikes to tackle rising input costs

The prices of its buses will be raised by 6%, while that of its trucks will be hiked by 4%. This is owing to the Bharat Stage 6 emission norms that will be enforced from April 1.

By Friyana | March 29, 2023 01:51 PM Read more
Prices of essential medicines to rise by 12% from April 1

This is considered to be the highest yearly price hike on such pharmaceuticals. It includes antibiotics, anti-infectives, and painkillers, among others.

By Aadeesh | March 29, 2023 01:02 PM Read more
GPay, Paytm transactions to get expensive

A 1.1% interchange fee is to be levied on payments made via Prepaid Payment Instruments (PPI) to merchants. This will be brought into effect from 1st April 2023.

By Friyana | March 29, 2023 12:58 PM Read more
Hiring intent hikes by 10% in manufacturing, services sectors

Q1FY24 is expected to see a steady incline in hiring activities with 64% of employers affirming their support towards pooling more talent for their headcount.

By Harleen | March 29, 2023 11:56 AM Read more
Over 36 cities, villages identified as cybercrime hotspots in 9 states

This was discovered by the Indian Cyber Crime Coordination Centre. The included regions are Andhra Pradesh, Uttar Pradesh, Gujarat, and Bihar, among others.

By Aadeesh | March 29, 2023 11:37 AM Read more
Corporate CAPEX expected to chart 10%-12% growth in FY24

Domestic firms’ increased focus in localisation, and conglomerates looking to lower global supply chain risks could lead to more private investments.

By Friyana | March 29, 2023 11:27 AM Read more
SC verdict on fraud loans likely to ease lenders’ concerns

Under this ruling, banks will now lay down a formal process, which includes a platform for listening to borrowers’ views, before labelling them as fraud.

By Aadeesh | March 29, 2023 10:38 AM Read more
Layoff crisis continues: GitHub fires over 140 engineers in India

The employees that were sacked are likely to be provided with 2 months’ salary worth of severance pay, people with information on the matter revealed.

By Friyana | March 29, 2023 10:13 AM Read more
PAN-Aadhaar linking deadline extended to June 30

This decision by the Central Board of Direct Taxes arrived a few days before the initial deadline of 31st March 2023, marking the fifth such postponement.

By Aadeesh | March 29, 2023 09:55 AM Read more
Air India set to offer 8-10% pay hike amidst growing competition

This will be the first-ever performance review to be conducted by the Tata Group, since its acquisition of the airline. Pilots will reportedly be the first to receive a raise in their wages.

By Aadeesh | March 28, 2023 06:39 PM Read more
MGNREGS jobs in Jan-Feb lesser than pre-pandemic levels

The decline in employment under the Mahatma Gandhi National Rural Employment Guarantee Scheme was noted for the first time in four years, after hitting its peak in June 2020.

By Aadeesh | March 28, 2023 05:56 PM Read more
Man turns ₹1 Lakh richer after banking error; Jailed 2 yrs later

After police officials approached Jeetrai Samant, it was discovered that the man thought Shri. Narendra Modi sent the amount to his Aadhaar-linked account.

By Chanel | March 28, 2023 05:15 PM Read more
Coca-Cola to offload bottling business in India

The move is in line with the beverage maker’s strategy to offload asset-heavy businesses, while shifting its focus to the enterprise’s brands.

By Friyana | March 28, 2023 04:53 PM Read more
Ad-based OTT business to be driven by diverse content, new users

TAM Media Research claimed that AVOD’s market share in India is likely to grow to 40%, from the current 29%, within the coming 5 years.

By Aadeesh | March 28, 2023 04:06 PM Read more
SBI Cards records highest new card activations

The bank issued about 3 lakh new cards, followed by Axis Bank, with nearly 2 lakh new customers. Kotak Mahindra Bank and ICICI Bank, reported 80,000 activations, each.

By Friyana | March 28, 2023 03:30 PM Read more
Fired H-1B visa workers have multiple options to stay: USCIS

Ur M. Jaddou, USCIS’s Director stated that such laid-off staffers may not be aware of other options that they can exercise, like changing their status, applying for relevant documents, and more.

By Aadeesh | March 28, 2023 02:51 PM Read more
WGC India Chief: Surge in rural cash circulation likely to drive gold demand

The upcoming monsoon season is also likely to determine the consumption rate of the precious metal, as it is expected to significantly impact market sentiments.

By Friyana | March 28, 2023 02:04 PM Read more
Ayushman Bharat 2.0 in development for 400 million mid-income citizens

At present, the Health Ministry and NITI Aayog are working on the proposed scheme’s outline to ensure health coverage for this section of the population.

By Aadeesh | March 28, 2023 02:01 PM Read more
EPFO fixes PF rate at 8.15% for FY23

This decision will impact EPFO’s 6 crore active subscribers. Over ₹90,000 Crores will be distributed across accounts on a total principal sum of about ₹11 Lakh Crores.

By Chanel | March 28, 2023 01:10 PM Read more
Staffing firms report rise in demand for delivery partners

ManpowerGroup revealed that although e-commerce firms have streamlined their delivery agent headcount, demand remains robust in logistics and other sectors.

By Friyana | March 28, 2023 01:04 PM Read more
Govt: Over 1.55 lakh posts vacant in three armed forces

The Minister of State for Defence informed the Rajya Sabha that such shortages are reviewed frequently, and measures to improve them are being undertaken.

By Aadeesh | March 28, 2023 01:02 PM Read more
Walt Disney begins laying off 7,000 employees

The CEO’s letter to employees stated that the 2nd firing round will occur in April 2023, on a larger scale. Additionally, the final job cuts will commence before the beginning of summer.

By Chanel | March 28, 2023 11:59 AM Read more
Indian start-up develops a platform to help banks in digital collections

Credgenics, a debt resolution platform, has undertaken the initiative to help prevent the accumulation of bad loans and ensure timely repayments.

By Friyana | March 28, 2023 11:51 AM Read more
India Inc’s hiring intent falls by 4% for Q1FY24

This decline has occurred due to firms being cautious amidst macroeconomic uncertainties, geopolitical tensions, recessionary trends worldwide, and the rationalisation of workforces.

By Aadeesh | March 28, 2023 11:44 AM Read more
AI automation may cut two-third jobs: Goldman Sachs

As per the firm’s research, the legal and administrative sectors will be hit the hardest. However, physically intensive jobs with low exposure to AI will be the least impacted.

By Chanel | March 28, 2023 11:21 AM Read more
Madhuraj Foundation buys over 1 crore shares of Trident

The company decided to make a block deal with the textile major and bought shares worth ₹31.89 Crores of the latter, through the open market route.

By Friyana | March 28, 2023 11:14 AM Read more
Credit guarantees of ₹4.06 Trillion sanctioned for small businesses

Ever since its launch in 2000, member lending institutions have been provided credit guarantees by CGTMSE for loans given to them by MSMEs without certain prerequisites.

By Aadeesh | March 28, 2023 11:02 AM Read more
EV makers in a rush to hire amidst rising demand

The India Energy Storage Alliance expects the domestic EV market to develop at a compounded annual growth rate of about 36%.

By Chanel | March 28, 2023 10:32 AM Read more
72.56 lakh houses delivered or completed under PMAY-U

A total of 1.20 crore houses, consisting of central assistance worth ₹2.02 Lakh Crores, have been sanctioned as part of Pradhan Mantri Awaas Yojana - Urban (PMAY-U).

By Aadeesh | March 28, 2023 10:04 AM Read more
Banks to gain nearly ₹3 Lakh Crores post MF tax law revisions

Taxes being levied on fixed-income mutual fund returns might lure more customers towards bank deposits, bringing relief to financers.

By Friyana | March 28, 2023 09:59 AM Read more
Delhi engineer finds job after being rejected by over 150 firms

The techie explained how it was more challenging to get a job, after having gained some industry experience, as compared to when he graduated.

By Friyana | March 27, 2023 07:00 PM Read more
Mumbai: Online scammers stole over ₹1 Crore from 81 UPI users

The latest UPI scam involves criminals first sending money to victims’ accounts and then requesting it back. In doing so, people’s accounts get compromised through malware.

By Aadeesh | March 27, 2023 06:16 PM Read more
India recorded over 1,700 cyber-attacks per week in last 6 months

The country’s healthcare industry was the most targeted sector, followed by defence and education sectors, as per Check Point Software Technologies’ President, Rupal Shah Hollenback.

By Aadeesh | March 27, 2023 05:37 PM Read more
OYO anticipates over ₹5,700 Crores revenue for FY23

The firm’s CEO informed employees at a town hall that they are looking to arrive at an adjusted EBITDA of about ₹800 Crores in the coming fiscal.

By Aadeesh | March 27, 2023 04:53 PM Read more
EPFO board holds a 2-day meeting, interest rate for FY23 may be discussed

The meeting will be held on the 27th and 28th of March 2023. Here, the interest rate for FY23 may be discussed, which is expected to stay above the 8% mark.

By Friyana | March 27, 2023 04:19 PM Read more
Niva Bupa attracts investors with $100 Mn fundraiser

Furthermore, the insurance firm anticipates a valuation of $2 Billion (about ₹16,474 Crores) as its pre-IPO capital generation.

By Aadeesh | March 27, 2023 04:05 PM Read more
5 top-level executives quit Nykaa amidst falling profits

A company spokesperson stated that they anticipate involuntary and voluntary exits in a growth-focused organisation like Nykaa. Moreover, they consider it a standard transition.

By Aadeesh | March 27, 2023 03:07 PM Read more
TISS Mumbai sees ₹49 Lakhs CTC offer during final placement

About 41% of the candidates received pre-placement offers (PPOs). Meanwhile, 64 of the 66 students were offered packages of ₹20 Lakhs and more.

By Friyana | March 27, 2023 02:45 PM Read more
Manipal Health to acquire AMRI Hospitals for ₹2,400 Crores

As per the deal, Manipal Health will pay 75% of the amount now, and the remaining after one year. In 2018, the initial acquisition discussions had begun for a value of ₹1,800 Crores.

By Aadeesh | March 27, 2023 02:11 PM Read more
ANAROCK: Housing sales expected to rise by 14% in Q4

The property consultant firm said that this figure is estimated to hit 1.13 lakh units, due to strong demand, despite the 6-9% hike in prices.

By Friyana | March 27, 2023 01:48 PM Read more
Global financial markets anticipate further turmoil before March-end

This is because investors’ sentiments were influenced by growing concerns about European and US lenders, affecting central banks’ ability to tackle inflation.

By Aadeesh | March 27, 2023 01:12 PM Read more
Lexus India plans to expand its sales infrastructure and customer base

Naveen Soni, President of Lexus India, stated that they will extend their offerings towards professionals to de-risk the business.

By Friyana | March 27, 2023 12:35 PM Read more
RBI may hike repo rates by 25 bps in April

To support this prediction, experts cited the present inflation level that’s well over RBI’s comfort zone and the recent aggressive stance of the US Federal Reserve.

By Chanel | March 27, 2023 12:15 PM Read more
Maharashtra records 437 new COVID-19 cases, count highest in Pune

The overall case tally rose to 81,41,457, while the fatalities surged to 1,48,435. One death each was noted in Kolhapur and Aurangabad, on 25th March 2023.

By Aadeesh | March 27, 2023 11:54 AM Read more
Sun Pharma fears revenue drop after ransomware attack

After this incident, the drugmaker deployed remediation and containment actions which affected some of its business operations, potentially resulting in a revenue drop.

By Chanel | March 27, 2023 11:44 AM Read more
Indian IT firms may reduce hiring of engineers by nearly 40%

So far in FY23, 2.8 lakh individuals were hired across the IT industry. The recruitment rate is expected to remain flat in Q4 of the ongoing fiscal.

By Friyana | March 27, 2023 11:42 AM Read more
Twitter: Parts of source code leaked online

A copyright infringement notice was sent by the company to GitHub, Inc., on whose platform the code had been posted. There is no exact information on how long the data was online.

March 27, 2023 11:14 AM Read more
RBI approves Paytm’s extension for PA license application

Until Paytm receives the Centre’s approval to re-submit its application, RBI has informed that the platform cannot onboard new merchants. However, it can still service existing clients.

By Chanel | March 27, 2023 11:04 AM Read more
Women take backseat in blue, grey-collar job market

During the pandemic, countless female employees resigned from their jobs to fulfil family obligations. As per data, their share in the blue-collar workforce fell to 6.34% in 2020.

By Chanel | March 27, 2023 10:50 AM Read more
High prices impacted spending on daily essential goods: Study

The study by Kantar Group also mentioned that over half of domestic households did not purchase many discretionary products in January 2023.

By Aadeesh | March 27, 2023 10:23 AM Read more
State-run banks to present strategies to tackle key business risks

This will outline the communication strategy to tackle any business risks or exigencies. PSBs affirmed that the Indian banking system continues to be robust.

By Friyana | March 27, 2023 10:22 AM Read more
Markets Closing Bell: Indices erased mid-week gains

After closing in green on 22nd March 2023, Friday’s session saw benchmark indices struggle to hold on to these gains. Meanwhile, the government proposed to levy taxes on debt mutual fund returns.

By Chanel | March 24, 2023 06:08 PM Read more
Canada to invite over 1 lakh immigrants via PNPs

Through the PNPs, the number of immigrants is expected to increase and reach up to 1,05,500 in the ongoing year and 1,17,500 by 2025.

By Friyana | March 24, 2023 05:46 PM Read more
Minister Rijiju: 1,080 vacancies in Uttar Pradesh district courts

This information was shared by the Union Minister of Law and Justice in an official written reply to queries from Neeraj Shekhar, MP of Rajya Sabha.

By Friyana | March 24, 2023 05:00 PM Read more
Xiaomi teams up with United Way India, aims to upskill transgender citizens

The programme is a collaboration between Xiaomi Technology India Pvt. Ltd. and the NGO to provide vocational training to 100 people from the community.

By Sajhyadri | March 24, 2023 04:50 PM Read more
Shriram Life to double rural presence via digital campaigns

According to the company’s MD, roughly 44% of their business is earned from this segment, and they plan to raise this figure to 50% by FY25.

By Chanel | March 24, 2023 04:43 PM Read more
BMC to raise about ₹355 Cr by auctioning assets of 67 tax defaulters

The body aims to recover property tax along with the imposed penalty through this. It is looking to appoint a private organisation for carrying out this task.

By Friyana | March 24, 2023 03:25 PM Read more
World TB Day 2023: PM Modi launches TB-Mukt Panchayat

The government aims to eliminate TB in India by 2025. For the same, the PM’s latest launch offers shorter preventive treatments with a care model that’s family-centric.

By Chanel | March 24, 2023 03:02 PM Read more
Tata Motors plans to set up new outlets for its EV offerings

Its subsidiary, Tata Passenger Electric Mobility Limited (TPEML) will be in charge of creating the strategy for developing a separate sales channel for EVs.

By Friyana | March 24, 2023 02:28 PM Read more
DigiClaim launched for faster crop insurance claim settlement

During the launch, actual claim transfers to beneficiary farmers’ bank accounts were demonstrated. This module is presently available in six Indian states.

By Chanel | March 24, 2023 02:09 PM Read more
Indian airports to record 26% higher revenue in FY24

On 22nd March 2023, CAPA India estimated that the aviation industry will earn up to ₹32,074 Crores, from around 39.5 crore net flyers in the fiscal year.

By Sajhyadri | March 24, 2023 02:05 PM Read more
Almost 50% of UP startups are led by women: Govt.

To promote their growth, the state IT department offers them an extra 50% financial assistance. The government, too, disburses a monthly allowance of ₹17,500.

By Chanel | March 24, 2023 01:24 PM Read more
Indian economic stability to improve in 2023: Economists

Financial firms like Barclays and Morgan Stanley have supported this claim, with reports predicting that India’s growth will rise from 6% to 6.3% this year.

By Sajhyadri | March 24, 2023 12:45 PM Read more
Govt. may impose tax on debt mutual fund gains

If this amendment to the Finance Bill 2023 is cleared, then debt mutual funds’ tax structure will be aligned with bank fixed deposits.

By Chanel | March 24, 2023 12:40 PM Read more
Data of nearly 17 crore citizens stolen and sold, 7 culprits held

This included personal and confidential information of defence personnel, the government, and other important organisations.

By Friyana | March 24, 2023 12:34 PM Read more
UPI to push Indian e-com market to $150 Bn in 3 years 

On the other hand, cash dealings’ transaction value is expected to decline by 34% in the next 3 years. As a result, digital wallet transactions may soar by 88% in value. 

By Chanel | March 24, 2023 11:56 AM Read more
Axis Bank introduces ‘MicroPay’, 30% cheaper than PoS

According to the private lender’s president, they have been working on affordable POS tools for India’s merchant community to boost the adoption of digital payments.

By Chanel | March 24, 2023 11:52 AM Read more
Vedanta may announce 5th interim dividend for FY23

The decision will be taken in an upcoming meeting, which is to be held on 28th March 2023. If declared, the record date will be set as April 7.

By Friyana | March 24, 2023 10:58 AM Read more
Accenture to cut 19,000 jobs

A spokesperson explained that these layoffs will vary across markets and countries based on the firm’s growth and footprint. Moreover, this figure may not apply to all geographies.

By Chanel | March 24, 2023 10:32 AM Read more
Canara Bank sells off nearly ₹121 Cr worth of stake in CIBL

It was purchased by SBI, the Russian joint venture., CIBL’s venture partner. The agreement for the sale was signed last year, on 11th November 2022.

By Friyana | March 24, 2023 10:13 AM Read more
Aadhaar-like system to be adopted by Morocco and Philippines

The Unique Identification Authority of India (UIDAI) has also received enquiries regarding the Aadhaar framework, from 8-10 other countries.

By Friyana | March 23, 2023 06:26 PM Read more
TVS Motors' EV market share goes up to reach 20% in March

TVS Motor Co. Ltd. has seen a noted rise in the sales of its two-wheeler, iQube and plans to add more vehicles to its EV line-up to further increase volumes.

By Sajhyadri | March 23, 2023 05:40 PM Read more
Old gold sale rises by 25% on YoY basis

Against the backdrop of yellow metal surpassing the ₹60,000 per 10 grams mark, old gold sales rose. Meanwhile, on 22nd March 2023, the metal’s sales declined by 20%.

By Friyana | March 23, 2023 05:34 PM Read more
Honda likely to launch new 300 cc model in India

This new offering is expected to be the upgraded version of the CB200X and may share the same engine as the CB300F, the streetfighter model offered by Honda.

By Friyana | March 23, 2023 04:51 PM Read more
Logitech slashes 300 jobs after computer accessories’ sales decline

According to Bracken Darrell, CEO and President of the company, the drop occurred due to lowered consumer and enterprise spending, along with poor macroe