Indian Traders Shift to WazirX, CoinDCX Following Binance Crackdown
The world’s largest cryptocurrency exchange, Binance, has faced a major setback in India as the government has restricted access to its platform and other foreign crypto exchanges operating without local registrations. As a result, many Indian traders have moved their deposits to domestic rivals like WazirX, CoinDCX, and CoinSwitch Kuber, which have seen a surge […]
Government Receives Whitelist of Loan Apps from RBI Governor Shaktikanta Das, Non-Compliant Apps to Face Repercussions
RBI Shares Whitelist of Loan Apps Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the central bank has shared a whitelist of lending apps with the Centre. The list was compiled from loan apps used by regulated entities such as banks and non-banking financial companies (NBFCs). Action Against Illegal Loan Apps The Union […]
SECI Awards Adani with Green Hydrogen Electrolyser Facility Project
Adani Enterprises, one of India’s largest conglomerates, has received a major order from the Solar Energy Corporation of India (SECI) to set up an electrolyser facility for green hydrogen production. The order is part of the government’s Production Linked Incentive (PLI) scheme for green hydrogen, which aims to boost domestic manufacturing and reduce dependence on […]
Shree Mahalaxmi Mercantile Co-operative Bank Loses Licence: RBI’s Immediate Action
Immediate Cancellation The Reserve Bank of India (RBI) has cancelled the licence of The Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, Gujarat, with immediate effect. The bank has ceased to carry on banking business from the close of business on January 12, 2024. Reasons for Cancellation The Shree Mahalaxmi Mercantile Co-operative Bank does not have […]
Immediate Licence Cancellation of Hiriyur Urban Co-op Bank by RBI
Immediate Cancellation The Reserve Bank of India (RBI) has cancelled the licence of The Hiriyur Urban Co-operative Bank Ltd., Hiriyur, with immediate effect. The bank has ceased to carry on banking business from the close of business on January 12, 2024. Reasons for Cancellation The Hiriyur Urban Co-operative Bank does not have adequate capital and […]
Project MAN: Casagrand and Singapore Firm’s Joint Venture to Revitalize Kanniyakumari Tourism
Casagrand Contracts Pvt Ltd, the EPC venture of Casagrand Group, and Our SHINE GOGLOBAL Ltd, a Singapore-based company, have announced a historic partnership to transform Kanniyakumari into India’s Cape Town with an investment of USD 300 million. The initiative, titled Project MAN, aims to create a conscious tourism destination that offers meaningful entertainment, eco-friendly wellness […]
Dhanlaxmi Bank, ESAF Small Finance Bank, and Punjab and Sind Bank Face RBI Penalties
Overview of Penalties The Reserve Bank of India (RBI) has recently imposed monetary penalties on three financial institutions: Dhanlaxmi Bank, ESAF Small Finance Bank, and Punjab and Sind Bank. These penalties, amounting to a total of Rs 2.49 crore, were levied due to various non-compliance issues related to banking regulations. Dhanlaxmi Bank’s Non-Compliance Dhanlaxmi Bank […]
Redefining Success: Mera Market Hits Milestone with 30 Franchises in Indian Ecommerce
Introduction In the dynamic world of Indian e-commerce, Mera Market has emerged as a beacon of success, reaching the significant milestone of establishing 30 franchises across the country. This achievement is not just a numerical triumph but a testament to the company’s innovative approach and commitment to supporting startups in the e-commerce sector. The Journey […]
Karnataka Government Approves 73 Projects Valued at Over Rs 3,900 Crore
Overview The State-Level Single Window Clearance Committee (SLSWCC) headed by Karnataka Minister M B Patil on Friday approved 73 projects worth Rs 3,935.52 crore. The projects are expected to generate employment for nearly 15,000 people, according to a statement . The projects cover various sectors such as manufacturing, renewable energy, food processing, warehousing and logistics. […]
Expanding Reach: Swiggy and Tata Neu Collaborate with HDFC Bank for Cobranding
HDFC Bank, India’s largest private bank, has partnered with two of the country’s leading consumer platforms, Swiggy and Tata Neu, to launch co-branded credit cards. The cards, which are powered by Mastercard, offer attractive cashback and rewards to the customers across various online platforms. Swiggy HDFC Bank Credit Card The Swiggy HDFC Bank credit card, […]