Sumitomo Mitsubishi Bank approved for GIFT City branch
Japan’s leading financial powerhouse, Sumitomo Mitsubishi Banking Corp (SMBC), has secured approval to establish a branch within Gujarat International Finance Tec-City (GIFT City) situated in Gandhinagar.expand_more This strategic move signifies SMBC’s commitment to propelling Japanese investment into the dynamic Indian market. According to the Indian government, Japanese FDI into India has surpassed $30 billion since […]
Tata Steel to Invest Rs 6,600 Cr in Neelachal Ispat
Tata Steel, India’s leading steel producer with a current crude steel capacity of 30.1 Million Tonnes Per Year (MTPA) in FY23 , has made a strategic move to bolster its presence in the long product steel segment, a market estimated to reach $30.2 billion by 2027. The company announced a significant equity investment of up […]
Adani Family Invests Rs 6,661 Crore in Ambuja Cements
The Adani Group’s aggressive expansion strategy continues unabated. In a move that further cements their dominance in the Indian cement industry, valued at approximately Rs 1.08 lakh crore in 2023, the Adani family has infused a significant sum of Rs 6,661 crore into Ambuja Cements Ltd. This fresh capital injection translates to a 3.6% ownership […]
Wipro-GE Healthcare Invests Rs 8,000 Cr: Make in India
Wipro-GE Healthcare, a prominent player in medical technology and digital solutions, announced a game-changing investment of Rs 8,000 crore ($1 billion) in India over the next five years. This substantial infusion of capital aims to propel the company’s “Make in India for the World” initiative forward, with a multi-pronged approach: Aligning with National Goals and […]
Reliance Invests in Adani’s Power Project: Ambani-Adani Alliance
The Indian business landscape witnessed a historic shift on March 28, 2024, as Reliance Industries (RIL), led by Mukesh Ambani, acquired a 26% stake in a specific 500 MW unit of a 1,000 MW power project owned by Gautam Adani’s Adani Power Ltd. This Madhya Pradesh project, under Mahan Energen Ltd, marks the first-ever collaboration […]
NTPC Secures JBIC Loan for $200M Renewable Projects
State-owned power giant NTPC has ignited its renewable energy ambitions with a strategic $200 million loan agreement from the Japan Bank for International Cooperation (JBIC). This financing marks a substantial leap forward in NTPC’s diversification plans, transitioning from its traditional reliance on coal-fired power generation. The loan is expected to propel NTPC’s renewable energy project […]
RBI Advises Banks on Alternative Investment Fund Investments
The Reserve Bank of India (RBI) took a cautious step towards harmonizing regulations for bank investments in Alternative Investment Funds (AIFs) with a recent advisory issued on March 27, 2024. This revision follows a December 2023 circular that caused a ripple effect within the banking sector, with estimates suggesting a potential freeze on ₹2 lakh […]
Sonata Finance Acquired by Kotak Bank for Rs 537 Cr
Continuing its aggressive growth strategy, Kotak Mahindra Bank (Kotak Bank) announced a significant acquisition on Thursday, March 28, 2024. The bank signed a definitive agreement to acquire Sonata Finance Pvt Ltd, a prominent NBFC-MFI (Non-Banking Financial Company – Microfinance Institution), for Rs 537 crore. This strategic move strengthens Kotak Bank’s position in the rapidly expanding […]
LIC Crowned World’s Strongest Insurance Brand by Brand Finance
The Life Insurance Corporation of India (LIC) has rewritten insurance history by claiming the title of the world’s strongest insurance brand in the recently published Brand Finance Insurance 100 2024 Deciphering Brand Strength: Beyond the Numbers While a steady brand value of USD 9.8 billion showcases LIC’s financial stability, true strength lies in its exceptional […]
Audi Launches Pre-Owned Car Facility in Guwahati
On March 27, 2024, Audi India inaugurated its newest pre-owned car facility, Audi Approved: plus, in Guwahati, Assam. This marks the 26th outlet for the brand’s pre-owned car program in India, signifying a strategic expansion in the pre-owned car segment. Strategically located at Balughat, Jayanagar Tripura Road, Guwahati, the new showroom boasts a display capacity […]