Diversified business house Trident Group would become the first corporate to use Aadhaar Payment Bridge (APB) for disbursal of salaries to its employees.
While participation of start-ups in the space sector has largely been minimal so far, their involvement will be key towards building India's very own aerospace companies such as Maxar, Elon Musk's SpaceX and Rocket Labs, according to experts.
Markets regulator Sebi on Thursday came out with detailed modalities for implementation of the accredited investors framework, a move expected to open up a new channel of raising funds from sophisticated investors. The regulator has issued guidelines on eligibility criteria for accredited investors (AIs), procedure as well as validation for accreditation, procedure to avail benefits linked to accreditation and flexibility to investors to withdraw "consent", according to a circular. Sebi had earlier this month introduced the concept of "accredited investors" in the Indian securities market.
Located in a small township in the eastern part of Bengaluru is IBM's new Security Command Centre, which is surrounded by offices of multinational tech companies. This unit is the centrepiece of IBM's multi-million dollar investment to help businesses prepare for the growing threat of cyberattacks across the Asia-Pacific (APAC) region. This facility is the first of its kind in the region. It helps train in cybersecurity response techniques through highly realistic and simulated cyberattacks.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
A group of villagers from Meghalaya allegedly vandalised and burnt down a forest office in Assam's West Karbi Anglong district, following the killing of six people in violence that occurred in a disputed area along the border between the two states, officials claimed on Wednesday.
Moody's Investors Service on Monday said it has assigned a first-time B3 corporate family rating (CFR) to ANI Technologies, which operates ride hailing service Ola. Moody's CFRs are opinions of a corporate family's ability to honour all of its financial obligations. It has also assigned a B3 rating to the company's proposed senior secured term loan.
'I am seven months into the job, but it feels like seven years.'
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
This year saw no improvement in bilateral ties as India accused Pakistan of cross-border infiltration and re-activation of terror-launching pads near the LoC.
Having established its presence in the country, luxury carmaker Lexus is now looking to chart its next phase of growth in India as it looks to consolidate sales network and drive in new models, including fully electric cars in the country, according to a top company official. The company, which is the luxury car arm of Japanese auto major Toyota, initiated operations in India in 2017 and currently sells seven models in the country, including the locally-produced ES 300h sedan. Known for its self charging hybrid cars, the company is now gearing up to drive in battery electric vehicles, besides ramping up its existing product portfolio in the market.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
Venkataraman Krishnamurthy, who is considered as the turnaround man of several Indian corporate houses like BHEL, Maruti Udyog, SAIL and Gail (India), passed away on Sunday at the age of 97. Krishnamurthy is considered as "the father of public sector undertakings in India" by many in India Inc. Born in the temple town of Tamil Nadu's Karuveli, he started his career as an airfield technician during the Second World War.
Regional States will be worried that the US's nascent engagement with the Taliban behind the fig leaf of humanitarian aid enables the return of US intelligence personnel to Afghanistan, observes Ambassador M K Bhadrakumar.
The acquisition will make Airtel the largest mobile operator in the Republic of Congo with around 2.6 million customers, the company said in a statement.
The IAC would serve to bolster India's position in the Indian Ocean Region (IOR) and its quest for a blue water Navy
Afghanistan is "heading towards civil war" and terror group Al Qaeda "will probably come back" as the security situation in the region continues to deteriorate, UK Defence Secretary Ben Wallace said on Friday.
A railway station and a police vehicle were torched and several law enforcers injured in stone-pelting incidents on the fourth consecutive day of protests against Agnipath scheme on Saturday when a bandh was also called to press for the demand for rollback of the new scheme for recruitment in armed forces.
Food to be cooked in base kitchens instead of trains; private players to be involved
If they can sit together and hammer out 'Black Sea Initiative' deal for much needed food shipments, surely, they should be able to address the madness of the larger military conflict?
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
The fraud was operated from call centres in India to defraud hundreds of elderly and vulnerable people in the US, CBI officials said.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
The service will initially offer digital content from, Hotstar, Sun NXT, Eros NOW, Hungama Play via a single subscription fee of Rs 249 a month
Chief of Naval Staff Admiral Radhakrishnan Hari Kumar said on Friday that his force is fully capable of confronting any security threat and fully backed the ambitious tri-services reforms that included setting up of a maritime theatre command.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
'From our perspective, it will bring additional customers and from their perspective, it will get them younger customers.'
The Taliban has its backers, notably Pakistan and China. Their purpose is to have a monstrous entity near India's northern borders to keep democratic, secular India off-guard, observes Amulya Ganguli.
The United States has announced the end of its 20-year-old war in Afghanistan as the last American military flight flew out of the Hamid Karzai International Airport in Kabul shortly before the August 31 deadline.
"The embassy remains open and we plan to continue our diplomatic work in Afghanistan. The United States will continue to support consular services, and that includes the processing and operations of the Special Immigrant Visa Program, and we'll continue to engage in diplomacy with the Afghan government and the Afghan people. Additionally, we will continue our focus on counterterrorism," he said.
Chafing is an unpleasant reality that many people ignore, and it can truly mess up your lifestyle.
According to the book, 'Keenie Meenie: The British Mercenaries Who Got Away With War Crimes', authored by UK-based investigative journalist Phil Miller India's secret use of British mercenaries lasted for four months after the Indo-Lanka accord was signed between former Prime Minister Rajiv Gandhi and then Sri Lankan president Junius Jayewardene in 1987.
Shares of Zomato on Friday zoomed nearly 53 per cent in its debut trade against its issue price of Rs 76. The stock made its debut at Rs 115, reflecting a huge gain of 51.31 per cent against the issue price on the BSE. It then hit a high of Rs 138, a jump of 81.57 per cent.
Skylark Drones, a leading drone platform company that counts Tata Steel, Ultratech Cement, Softbank Energy among its customers has secured $3 million in a pre-series A funding round. It would use the funding to strengthen its product offerings and fuel international expansion.
While the first wave of moving work to India was driven by cost considerations, increasingly companies are banking on local talent to add value to their business by jointly developing products and solutions.
Higher secondary schools in the valley have been shut for over three weeks due to restrictions.
The Kolkata-based firm already has a presence in 22 states with over 2,000 branches and 5.9 million borrowers.
NDDB had helped dairy farmers direct their own development, placing control of the resources they created in their own hands.
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