Drone Startup Squadrone Partners with Geodia Industries
Bengaluru-based drone startup Squadrone Infra and Mining has announced a strategic partnership with Geodia Industries, a leading company in AI and ML-driven exploration technology. The collaboration aims to tap into the lucrative market of mineral exploration in India, Middle East, and South Asia, and to leverage state-of-the-art technology for sustainable development and innovation. Squadrone Infra […]
TVS’s Rs 1,000 Crore Investment in Capex
TVS Motor, the second largest two-wheeler maker in India, has announced that it will invest Rs 1,000 crore in capex for both electric vehicle (EV) and internal combustion engine (ICE) products in the financial year 2023-24. The company also plans to spend another Rs 1,000 crore on subsidies and acquisitions, including its premium motorcycle brand […]
CPCL and IIT-Madras Collaborate for Green Hydrogen Production
CPCL, a subsidiary of Indian Oil Corporation, has partnered with IIT-Madras to produce green hydrogen from seawater using renewable energy sources. The project aims to cover the entire value chain of hydrogen, from generation to utilization, and reduce India’s dependence on fossil fuels. Green hydrogen is a clean and sustainable alternative to conventional hydrogen, which […]
Madras High Court’s Clarification on GST for Gift Vouchers
The Madras High Court has clarified the GST implications of gift vouchers issued by Kalyan Jewellers. The court held that gift vouchers are actionable claims and not taxable unless they are for specified goods and value. Gift vouchers are popular instruments for gifting and purchasing goods and services. However, their taxability under the Goods and […]
Azim Premji Gifts Rs 500 Cr Worth Wipro Shares to Sons
Wipro founder Azim Premji has given 10.2 million shares, worth nearly Rs 500 crore, to his sons Rishad and Tariq, as per the stock exchange filing on Wednesday. The transaction does not alter the overall promoter and promoter group shareholding in the company, which remains the same. A generous gesture Azim Premji, who is known […]
Annapurna Finance Sells 10.4% Stake to Piramal Enterprises
Piramal Enterprises Ltd, the financial services arm of the Piramal Group, has announced that its wholly-owned subsidiary Piramal Alternatives Trust (PAT) will acquire a 10.4% stake in Annapurna Finance Pvt Ltd (AFPL) for Rs 300 crore. The deal will be done through a combination of purchase of equity shares and subscription to optionally convertible debentures. […]
General Insurance Council’s Campaign for Cashless Hospitalisation
The General Insurance Council, the representative body of non-life and health insurance companies in India, has launched a campaign called ‘Cashless Everywhere’ on January 24, 2024. The campaign aims to provide cashless hospitalisation to policyholders even in non-empanelled hospitals across the country. This is expected to ease the financial burden of policyholders, increase their choice […]
RBI’s Cybersecurity Talk with Urban Co-op Banks
The Reserve Bank of India (RBI) convened a conference in Hyderabad on January 24, 2024, bringing together Directors from select Urban Co-operative Banks (UCBs) of the Southern Zone. The conference aimed to address the escalating challenges of cybersecurity faced by UCBs and to enhance their resilience against cyber threats. Governance in UCBs The conference was […]
India, Oman IT Cooperation Pact Gets Cabinet Nod
India and Oman have agreed to enhance their bilateral cooperation in the field of Information Technology. The Union Cabinet, chaired by Prime Minister Narendra Modi, was apprised of a Memorandum of Understanding (MoU) signed between the two countries on December 15, 2023. Objectives of the MoU The MoU intends to promote comprehensive cooperation between India […]
MoD Signs Rs 1070 Cr Contract for 14 Patrol Vessels with Mazagon Dock
The Indian defence ministry has recently finalized a significant deal with Mazagon Dock Shipbuilders Ltd (MDL) for the acquisition of 14 fast patrol vessels. The deal, worth Rs 1,070 crore, aims to strengthen the capabilities of the Indian Coast Guard (ICG) and enhance the country’s maritime security. What are Fast Patrol Vessels? Fast patrol vessels […]