MGNREGS : 4-10% Raise in Rural Job Scheme Wages
In a move that will bring much-needed relief to millions of rural households grappling with rising inflation, the central government announced a revision to MGNREGS wages, effective March 27, 2024. This revision promises a significant boost to livelihoods, with wage hikes ranging from 4% to 10% depending on the state. State-wise Disparity: A Cause for […]
Torrent Power Secures 150 MW Renewable Energy Deal
Torrent Power Limited, a leading Indian power company, has taken a significant stride towards solidifying its position as a frontrunner in the renewable energy sector. The company recently secured a letter of award to supply 150 MW of clean energy, marking a substantial step forward in its commitment to sustainable power generation. Project Details: A […]
CP PLUS Spreads Made-in-Bharat Solutions Across India
Indian security and surveillance giant, CP Plus, is embarking on an ambitious nationwide expansion plan to empower every corner of India with its “Made-in-Bharat” security solutions. This initiative aligns perfectly with the Indian government’s Atmanirbhar Bharat mission, which prioritizes self-reliance and fosters domestic manufacturing. More Than Just Manufacturing: A ₹300 Crore Push for Innovation CP […]
Zee Cuts 50% Staff at Bengaluru Tech Center
In a move shaking up the Indian media landscape, Zee Entertainment Enterprises Limited (ZEEL) announced a significant restructuring at its Bengaluru-based Technology & Innovation Centre (TIC) on March 29, 2024. The restructuring translates to a workforce reduction of roughly 50%, impacting an estimated 325 employees – a substantial figure considering ZEEL’s annual report for 2023 […]
Government Plans ₹7.5 Lakh Crore Market Borrowing FY25
The Indian government has unveiled an ambitious borrowing plan, targeting Rs 7.5 lakh crore from the domestic market in the first half of the financial year 2024-25 (FY25). This figure marks a significant portion (53%) of the total borrowing target of Rs 14.13 lakh crore set for FY25. The raised funds will be used to […]
IRDAI Lists LIC, GIC Re, New India Assurance as D-SIIs
The Insurance Regulatory and Development Authority of India (IRDAI) has kept Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re), and New India Assurance Company Limited (New India Assurance) on its list of Domestic Systemically Important Insurers (D-SIIs) for the 2023-24 financial year. This decision, marking the third consecutive year of […]
HPCL, Tata alliance for Nationwide EV Charging
India’s electric vehicle (EV) landscape is poised for a significant transformation. In a move that could significantly accelerate EV adoption, Tata Motors and Hindustan Petroleum Corporation Ltd (HPCL) have announced a groundbreaking partnership to establish a nationwide network of 5,000 EV charging stations. This strategic collaboration, signed between Tata Passenger Electric Mobility Limited (TPEM) and […]
Karvy Investor Services Loses SEBI Merchant Banker Status
In a move that underscores its commitment to investor protection, the Securities and Exchange Board of India (SEBI) revoked the merchant banker license of Karvy Investor Services Ltd (KISL) effective March 28, 2024. This decisive action stems from a series of compliance failures identified by SEBI during a March 2023 inspection. SEBI Inspection Uncovers Concerning […]
Axis Bank Launches Digital Dollar FDs for NRIs at GIFT City
Axis Bank, a leading Indian private sector bank, has shaken up the NRI investment landscape with the introduction of digital US dollar fixed deposits (FDs) at GIFT City. This groundbreaking initiative, launched on March 27, 2024, signifies a major leap forward in streamlining NRIs’ investment experiences through digitalization. Effortless Onboarding Experience Gone are the days […]
Adani Green Energy Launches 775 MW Solar Projects in Gujarat
Adani Green Energy (AGEL), a subsidiary of the Adani Group, has cemented its position as a frontrunner in India’s renewable energy sector by successfully bringing online its colossal 775 megawatt (MW) solar power projects in Khavda, Gujarat. This achievement comes after AGEL secured all necessary clearances for the project. Landmark Project Bolsters Adani Green’s Renewable […]