Zomato: 2% Stake Sold by Antfin Singapore for Rs 2,827 Cr
Antfin Singapore Holding, an affiliate of Alibaba’s Ant Financial Group, has reduced its stake in online food delivery platform Zomato by 2 per cent through open market transactions on Wednesday. The sale, which involved offloading over 17.63 crore shares, was executed within a price range of Rs 160.11-160.40 per share, resulting in a deal size […]
New FDI Norms in Space Sector by DPIIT
The Department for Promotion of Industry and Internal Trade (DPIIT) has notified changes in the foreign direct investment (FDI) norms in the space sector, allowing up to 100% overseas investment in some activities. This is expected to attract foreign players and private companies into the segment, which has been largely dominated by the government so […]
SBI Criticised by Bank Federation Over Electoral Bonds Delay
The State Bank of India (SBI) is facing criticism from various quarters for seeking more time from the Supreme Court to disclose the details of electoral bonds purchased and redeemed by political parties since April 12, 2019. The apex court had struck down the Centre’s Electoral Bonds Scheme as unconstitutional on February 15, 2024, and […]
IOC: First Indian Firm to Fuel Formula 1
Indian Oil Corporation Ltd (IOC) – the nation’s top oil firm – will in three months start manufacturing fuel used in adrenaline-pumping Formula One or F1, motor racing as it looks to expand its basket of niche fuels. IOC Unveils ‘Storm’ Petrol for FIM Asia Road Racing Championship IOC, which already has three branded fuels, […]
RBI Directs Banks to Offer Multi-Network Card Choices
The Reserve Bank of India (RBI) has issued new guidelines for credit card issuers, aimed at providing more flexibility and options for customers. The central bank has mandated that card issuers must allow their eligible customers to choose from multiple card networks at the time of card issuance or renewal. This will enable customers to […]
IIFL Finance Gets $200 mn Boost from Fairfax After RBI Ban
IIFL Finance, one of India’s leading non-banking finance companies (NBFCs), has received a major boost from its top shareholder Fairfax India, which has committed to provide up to $200 million in liquidity support to the company. This comes after the Reserve Bank of India (RBI) imposed an embargo on the company’s gold loan disbursements, effective […]
PM Modi Unveils India’s First Underwater Metro in Kolkata
Prime Minister Narendra Modi on Wednesday unveiled multiple metro projects across the country, including India’s first underwater metro line in Kolkata. The 16.6-kilometre-long corridor will connect Howrah and Salt Lake, two of the most populous and important areas of the city. The project is expected to ease traffic congestion, enhance connectivity and boost economic activity […]
Airbus Partners with IIM Mumbai for Aviation Training
Airbus, the European aerospace giant, has signed a contract with the Indian Institute of Management Mumbai (IIM Mumbai) to provide aviation education to professionals and empower them with industry-ready skills through Airbus Beyond programmes. Airbus Beyond is an Airbus company that readies professionals for aerospace industry challenges. The programme offers courses in the areas of […]
Jio-bp and Hiranandani: A Partnership for EV Charging Infra
Jio-bp, the fuel retail joint venture of Reliance Industries and bp, has announced a partnership with House of Hiranandani to set up electric vehicle (EV) charging infrastructure at their properties across Mumbai, Hyderabad, Chennai, and Bengaluru . This is a strategic move to tap into the growing demand for EVs in India and to provide […]
JM Financial: ‘No Deficiencies in Loan Sanctioning’ Post RBI Curbs
JM Financial Products Ltd, a non-banking financial company (NBFC) and a subsidiary of JM Financial Group, has issued a statement claiming that there have been no material deficiencies in its loan sanctioning process, after the Reserve Bank of India (RBI) imposed restrictions on its financing activities on Tuesday. RBI curbs on JM Financial The RBI […]