Public Sector Banks to Present 3-Year Business Plans by March
India’s public sector banks (PSBs) are burning the midnight oil to meet a critical deadline set by the government. As per recent directives, all PSBs must submit comprehensive business plans for the period 2024-27 by March 31st, 2024. This directive applies to all state-owned lenders, encompassing giants like State Bank of India (SBI), Punjab National […]
Flipkart Ordered to Pay ₹10K for Cancelled iPhone Order
A recent order by the District Consumer Disputes Redressal Commission (DCDRC) in Mumbai has shed light on the importance of consumer rights and transparency in e-commerce transactions. The commission directed e-commerce giant Flipkart to pay ₹10,000 to a customer for mental harassment caused by the unexpected cancellation of their iPhone order. Case Details and Chronology […]
Indian Patent Office Grants Over 1 Lakh Patents in a Year
The Indian Patent Office (IPO) has crossed a historic milestone, marking a significant leap forward for the nation’s innovation spirit. For the very first time, the IPO granted a staggering over 1 lakh (100,000) patents in a single fiscal year, from March 15, 2023, to March 14, 2024. This unprecedented feat represents a growth of […]
Air India Cuts 180+ Non-Flying Jobs
Tata-owned Air India has shed over 180 non-flying staff in recent weeks, a move aimed at streamlining operations and improving its bottom line. The airline, acquired by the Tata Group in January 2022, has grappled with significant financial losses for years. Voluntary Retirement and Reskilling Initiatives Air India claims the affected employees were unable to […]
Flipkart Valuation Takes Rs 41K Cr Hit in 2 Years
E-commerce giant Flipkart finds itself navigating choppy waters after a recent report by its parent company Walmart revealed a significant decline in its valuation. Over the past two years, Flipkart’s valuation has shrunk from $40 billion at the end of FY 2022 (January 31, 2022) to $35 billion as of January 31, 2024. This translates […]
FSSAI Certifies Nearly 100 Jails as ‘Eat Right Campus’
In a significant victory for public health, the Food Safety and Standards Authority of India (FSSAI) has certified nearly 100 jails across the country as “Eat Right Campuses” by March 2024. This initiative impacts over 1.2 million people, including inmates and prison staff. It’s a major step forward for the Eat Right India movement, promoting […]
Muthoot Microfin Ventures into Telangana Market
Muthoot Microfin, a major player in India’s microfinance sector with over ₹9,209 crore in Assets Under Management (AUM) reported in FY23, announced its re-entry into the Telangana market after a 13-year hiatus. This strategic expansion is projected to significantly boost the company’s growth. Analysts predict a potential increase of over 35% in AUM to ₹12,500 […]
RailTel Secures ₹130 Cr Bihar Education Project Council Order
RailTel Corporation Limited, a public sector undertaking under the Ministry of Railways, has secured a significant order worth ₹130 crore from the State Project Director (SPD) of the Bihar Education Project Council (BEPC). Project Details This project focuses on the empanelment of an agency for supplying teaching and learning materials for classes 1 to 5 […]
RBI Increases Retail Loan Scrutiny, Eyes Top-Up Home Loans
India’s central bank, the Reserve Bank of India (RBI), is signaling a shift in its stance on retail lending. According to a report by a leading credit rating agency, retail loan disbursements in India surged by a whopping 18% year-on-year in the first half of 2023, reaching a staggering ₹ 15 lakh crore. This rapid […]
Max India Antara, IIT Delhi Collaborate for Senior Citizen Care
India’s demographic is rapidly shifting, with the elderly population projected to reach a staggering 300 million by 2050. This necessitates innovative solutions to address the challenges faced by senior citizens, particularly concerning assisted living and healthcare. Recognizing this critical need, Max India’s subsidiary, Antara Assisted Living, has joined forces with the prestigious Indian Institute of […]