Vedanta Holdings Boosted by Blackrock, ADIA, Funds
Vedanta Limited’s stock has been on a tear in recent months, experiencing a remarkable nearly 30% increase (around ₹322 per share) since December 2023. This impressive rally has been fueled by a surge in investment activity, with leading financial institutions and domestic mutual funds significantly increasing their stake in the company. BlackRock, ADIA Among Major […]
Voltas AC Reaches 2M Sales Milestone FY24
Voltas, a titan in the Indian home appliance industry, has cemented its leadership position in the air conditioner segment by achieving a phenomenal sales milestone. The company has surpassed the impressive mark of 2 million AC units sold in FY24, registering a stellar 35% growth year-on-year. This accomplishment not only underscores Voltas’ unwavering commitment to […]
ICICI Bank Loans Tata Steel Rs 2,675 Crore
Tata Steel has received a significant boost of Rs 2,675 crore in its ongoing financial restructuring efforts. ICICI Bank stepped in, sanctioning a crucial debt facility with a three-year term. This timely intervention comes as the Indian banking sector experiences a positive uptrend in credit growth. Punjab National Bank (PNB) reported an impressive 11.5% loan […]
Vi Board Approves Rs 2,075 Cr Raise from Aditya Birla
In a move critical for its survival, Vodafone Idea (Vi) received a much-needed shot in the arm from its promoter, the Aditya Birla Group. The company’s board, on April 6, 2024, approved a proposal to raise Rs 2,075 crore through a preferential share issue to Oriana Investments Pte. Ltd., an Aditya Birla Group entity. This […]
J&K Bank Teams with Paymart India for Virtual ATM
J&K Bank is shaking up the banking landscape in Jammu & Kashmir and Ladakh with the introduction of a Virtual ATM (VATM) facility. This strategic collaboration with Paymart India Pvt Ltd promises to enhance accessibility for customers, particularly in areas with limited traditional ATM reach. Cardless Convenience at Your Fingertips The VATM service streamlines cash […]
RBI Fines IDFC First Bank, LIC Housing Finance
The Reserve Bank of India (RBI) sent a strong message to the financial sector recently, imposing penalties on IDFC First Bank and LIC Housing Finance for non-compliance with regulatory norms. This move reinforces the central bank’s unwavering focus on maintaining a robust and fair financial ecosystem in India. IDFC First Bank Stumbles on Due Diligence: […]
Tata AIA Life Expands WhatsApp Payment Services
Tata AIA Life Insurance is shaking the foundation of the insurance industry with its groundbreaking expansion of WhatsApp payment services. This innovative move positions Tata AIA as the undisputed leader in India, offering a truly unmatched insurance experience through the ubiquitous platform of WhatsApp. Enhanced Convenience: A Plethora of Payment Options at Your Fingertips Previously, […]
RBI Launches UPI Cash Deposit, No ATM Card Required
The Reserve Bank of India (RBI) recently announced a groundbreaking move to further propel India’s digital payment ecosystem. Governor Shaktikanta Das, on April 5, 2024, revealed plans to introduce a UPI-based cash deposit facility. This eliminates the need for ATM or debit cards for cash deposits, marking a significant shift towards a more digital future […]
Namdev Finvest Secures $19M Funding from Maj Invest
Microtunneling further into India’s financial landscape, MSME-focused non-banking financial company (NBFC) Namdev Finvest has secured a fresh infusion of $19 million. The pre-Series C funding round, led by Maj Invest Financial Inclusion Fund III K/S, a private equity firm championing financial inclusion endeavors, will empower Namdev Finvest to extend its reach into underserved rural markets. […]
Walmart Vriddhi, D&B Team Up for MSME Credit, Contracts
Indian micro, small and medium enterprises (MSMEs) are gaining a much-needed boost. Walmart’s supplier development program, Vriddhi, recently announced a collaborative effort with Dun & Bradstreet (D&B), a leading data and analytics company. This partnership aims to empower MSMEs by providing them with easier access to credit and equipping them to compete for government contracts. […]