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Pune based fintech startup OneCard became 104th unicorn of India following a new round of funding. Temasek, one of the world’s largest investors, led the Pune-based startup’s Series D round of over $100 million. The new round values OneCard at more than $1.4 billion (post-money), up from approximately $750 million in January of this year. OneCard […]
The Central Bureau of Investigation (CBI) has filed another FIR against Anil Ltd. in Mumbai, for an alleged fraud of Rs710 crores. The CBI this morning has carried out raids in seven places related to the company and its management team. These include locations in Ahmedabad and Pune. It is believed that the fraud is […]
Adani Group yesterday announced that it is participating in 5G spectrum auction, which will commence on July 26. However, the company refuted media reports and said that it was not interested to foray into telecom services. The company said that it had taken the decision to be a player in the 5G space in order […]
Torrent Pharmaceuticals has declared a 1:1 bonus issue, with Monday, 11 July fixed as the record date. Those holding 100 shares of the company on 8 July will own 200 shares as of 11 July. With the number of Torrent Pharma shares in the market doubling, the price of the shares dropped by close to […]
The Income Tax (IT) Department has said that Huawei Telecommunications India had resorted to unlawful means in order to evade paying taxes in India. The unit of Chinese technology company Huawei had allegedly sent back huge sums of money in the last two financial years, even when its income had slowed. According to sources, the […]
The Chinese smartphone manufacturer Vivo’s Indian subsidiary remitted 62,476 crore, or about 50% of its revenue, to China primarily to avoid paying taxes, the nation’s financial crime combating agency reported on Thursday. The Enforcement Directorate (ED) stated in a statement that “These remittances were made to disclose significant losses in Indian incorporated companies to avoid […]
Reliance Retail announced a long-term partnership with Gap Inc. on Wednesday to bring the iconic American fashion brand Gap to India. With this agreement, Reliance Industries’ retail arm has become the official retailer for Gap in India across all channels. Reliance Retail will introduce Gap’s latest fashion offerings to Indian consumers through a mix of […]
Prime Minister Narendra Modi is expected to formally launch the operations of JPMorgan Chase, Deutsche Bank, and Japan’s MUFG Bank at the International Financial Services Centre (IFSC) on July 15, giving Gujarat the biggest push in becoming the Indian hub for global finance. Finance Minister Nirmala Sitharaman is expected to attend the event. These organisations […]
The Directorate General of Civil Aviation (DGCA), on July 3 took a strong stand and demanded an explanation from IndiGo for massive flight delays throughout the country. The latest statistics show that the departure of the company’s 900 flights was delayed on Saturday. According to sources, this delay was caused because of not having enough […]
The Indian Finance Ministry announced a hike in the basic import duty of gold from 7.5 percent to 12.5 percent. According to some analysts, the decision was announced keeping in mind the tumbling Rupee and the country’s growing trade deficit as it widened to a record high last month. In a year, India’s trade imbalance […]
The Hurun Research Institute on Tuesday identified 122 future Unicorns in India from 25 cities as a part of the ASK Private Wealth Harun India Future Unicorn Index 2022. According to the list, Bengaluru is still the unicorn capital of India, with 46 unicorns, followed by Delhi NCR and Mumbai, which have 25 and 16 […]
The rupee fell to a new low against the US dollar on Wednesday, as domestic stock markets fell and foreign investors continued to sell Indian equities. The Rupee depreciated 18 paise to close at a record low of 79.03 against the US dollar, at 79.03/$1 on Wednesday. During the Session, the rupee touched an all-time […]
The Maharashtra government’s Energy Department signed an MOU with Adani Green Energy Group Ltd (AGEL) to generate 11000 MW of green power over the next five years. According to a government statement, it would require an investment of Rs 60,000 crore and would employ 30,000 people. According to the agreement, AGEL will establish Pumped Storage […]
The Reliance Jio board of directors approved the appointment of non-executive director Akash Ambani as chairman of the company’s board on Tuesday, according to a statement from the company. Mukesh Ambani, the chairman of Reliance Industries and Akash Ambani’s father, resigned as a director of the telecom giant on June 27. The announcement comes just […]
As monsoon arrives, distress shadows around Assam. On 27th June, eight more people died in the ruinous Assam floods. Additionally, 21 lakh people were affected and distressed because of the flash flood. Around eight deaths occurred during the day, including five from the Cachar district and one from Kamrup Metro, Morigaon, and Nagaon. They added, […]
Adani Group yesterday said that it had successfully achieved financial closure for Phase-1 of the Kutch Copper Limited (KCL) project, by raising the entire debt of Rs6071 Crores through a consortium of banks led by State Bank of India. The other consortium members are Bank of Baroda, Canara Bank, EXIM Bank of India, Indian Bank, […]
Zomato acquired Blinkit, an online commerce company, previously known as Grofers on Friday. Before the acquisition, Zomato had a 9% stake in the startup.The acquisition which was awaiting this day for months,was finally approved for Rs 4,447 crore. The online food delivery company, Zomato will acquire around 33,018 equity shares of Blink Commerce Pvt Ltd […]
With 11,739 new coronavirus infections reported Saturday, India’s active caseload rose to 92,576, according to the Union Health Ministry data updated Sunday 8 am. In cumulative effect, the country’s tally of Covid-19 cases now stands at 4,33,89,973. Twenty-five new fatalities took the death toll to 5,24,999, noted the data. The 25 new fatalities include 10 […]
Cooperation Minister Amit Shah yesterday said that cooperative banks should adopt modern technology and transparent banking methods to stay in the competition. He said that the role of these banks in India is immense as they can give loans to the smallest section of society for its upliftment. However, currently, the contribution of urban cooperative […]
Sonia Gandhi, the acting head of the Congress, asked on Wednesday to have her appearance before the Enforcement Directorate (ED) postponed “by a few weeks” until she had fully recovered from a lung illness and the COVID-19 virus. Sources claim that ED has granted her written plea for postponement of the summons in the National […]
