IDBI Bank’s Strategic Sale Likely to Finish in Next Financial Year
The government expects to complete the strategic sale of IDBI Bank in the next financial year, according to a senior official. The process of privatisation of IDBI Bank is on and once the regulator clearance is obtained, financial bids will be invited. Here are some more details about the deal. Introduction IDBI Bank is a […]
State Oil Refiners Denied Interim Budget Funds for Net-Zero
India’s state-owned oil refiners have been denied funds in the current fiscal year to achieve their net-zero carbon goal, according to the interim budget presented by finance minister Nirmala Sitharaman on Friday. The budget has also not provided any sum to buy crude oil to fill the country’s strategic reserves amid volatility caused by tensions […]
No Voting Rights on CEO Change: Byju’s to Investors
Byju’s, India’s leading edtech firm, has refuted the claims of some investors who seek to remove founder and CEO Byju Raveendran from his position. The company said that its shareholder agreement does not give them the right to vote on CEO or management change. Investors demand EGM to oust Raveendran A group of investors, including […]
CII: One Nation, One Election Key to Economic Development
The Confederation of Indian Industry (CII) has expressed its support for the concept of One Nation, One Election (ONOE), saying it will bring economic efficiency and reduce the cost of project delays by about half of current levels. The ONOE initiative aims to synchronize the election schedules for the Lok Sabha and State Assemblies, thereby […]
Cabinet Extends Animal Husbandry Fund; Dairy, Fisheries Set for Fillip
The Union Cabinet has approved the continuation of the Animal Husbandry Infrastructure Development Fund (AHIDF) till 2025-26 with an outlay of Rs.29,610.25 crore. The scheme will incentivize investments in various segments of the livestock sector, such as dairy, meat, animal feed, breed multiplication, animal waste management and veterinary drugs and vaccines. The scheme will also […]
CGTMSE: Collateral-Free MSME Loans Cross Rs 1.50 Lakh Cr
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a scheme launched by the Ministry of MSME and SIDBI in 2000 to provide collateral-free loans to micro and small enterprises (MSEs). The scheme aims to enhance the credit flow to the MSE sector by providing credit guarantee support to the lenders. According […]
RBI Imposes Ban on Paytm Bank Over Money Laundering, KYC Issues
The Reserve Bank of India (RBI) has taken a strict action against Paytm Payments Bank Ltd (PPBL), an associate company of One 97 Communications that runs Paytm, for violating several regulatory norms and guidelines. RBI has barred PPBL from accepting new customers, deposits, credit transactions, or top-ups in any of its platforms, including wallets, FASTags, […]
Modi Arrives in Odisha, Launches ₹68,400 Cr Projects
Prime Minister Narendra Modi arrived in Odisha on Saturday afternoon to unveil projects worth Rs 68,400 crore in the state, including the new campus of IIM-Sambalpur . The prime minister was accompanied by Chief Minister Naveen Patnaik, Governor Raghubar Das and Union Education Minister Dharmendra Pradhan. IIM-Sambalpur campus The prime minister inaugurated the new campus […]
Tata Motors Initiates Gigafactory Construction in UK
Tata Motors, the Indian automotive giant and owner of Jaguar Land Rover (JLR), has announced that it has begun construction of a battery cell gigafactory in the UK. The investment, worth over £4 billion, is one of the largest ever in the UK automotive sector and will create thousands of jobs and boost the country’s […]
ED to Investigate Paytm Bank on Money Laundering
The Reserve Bank of India (RBI) has ordered Paytm Payments Bank, a subsidiary of One 97 Communications, to stop accepting fresh deposits in its accounts or wallets from March 2024. The move comes amid concerns over persistent non-compliance with regulatory norms by the fintech giant. According to Reuters, the Enforcement Directorate (ED) will probe Paytm […]