Sebi’s Disclosure Norms: No Major Impact on FPIs
Sebi, the market regulator of India, has issued new disclosure norms for foreign portfolio investors (FPIs) that have high exposure to a single corporate group or significant overall holdings in India. The norms are aimed at preventing the circumvention of regulatory requirements such as takeover rules and minimum public shareholding norms by FPIs. However, sources […]
SoftBank Sells Additional 2% Stake in Paytm
SoftBank, the Japanese investment giant, has sold an additional 2% stake in Paytm’s parent company One97 Communications over the last month through open market operations, according to media reports. The investor has reduced its stake in the fintech giant from 13.24% at the beginning of FY24 to just a little over 5%, earning about Rs […]
Tata Capital’s Foray into Higher Education Loan Market
Tata Capital, the flagship financial services company of the Tata Group, has launched a new product in the education loan segment. The company aims to provide financial support to students who want to pursue higher education in India or abroad. The company offers collateral-free loans up to Rs 75 lakhs and secured loans up to […]
Cabinet Approves Rs 8,500 Cr Incentive for Coal Gasification
The Union Cabinet on Wednesday approved a Rs 8,500 crore incentive scheme for coal gasification projects, sources said. The adoption of gasification technology in India is expected to reduce the country’s reliance on imports of natural gas, methanol, ammonia and other essential products . What is coal gasification? Coal gasification is a process that converts […]
SBI Life Debuts Term Plans with Life Protection, Premium Returns
SBI Life Insurance has launched two new term plans that offer life protection and premium returns. These plans are Saral Swadhan Supreme and Smart Swadhan Supreme. They are designed to cater to the evolving needs of customers who want to secure their financial future and fulfil their commitments. The new term plans provide a lump […]
India’s First Self-Made Aircraft Seat Debuts at Wings India 2024
India’s aviation industry witnessed a historic moment as the country’s first-ever self-made aircraft seat was launched at the prestigious Wings India 2024 event. The seat, designed and manufactured by Bengaluru-based engineering company Timetooth, is a result of years of research and development in collaboration with the Directorate General of Civil Aviation (DGCA) and Indian airline […]
CCI Approves Burman’s Stake in Religare
The Competition Commission of India (CCI) has given the green light to the Burman family, the promoters of Dabur India, to acquire a majority stake in Religare Enterprises, a financial services company. The deal involves open market purchases and an open offer for up to 53.94% of the total share capital of Religare. Religare Enterprises […]
CCI Approves Tata’s Acquisition of Wistron Infocomm
Tata Electronics, a venture of Tata Sons, has acquired 100% of Wistron Infocomm Manufacturing (India), an iPhone supplier, with the approval of the Competition Commission of India (CCI). This deal will boost Tata’s presence in the smartphone manufacturing sector and strengthen its partnership with Apple. Introduction Tata Electronics, a greenfield venture of Tata Sons Private […]
JSW’s 38% Stake in MG Motor: Approved by Competition Commission of India
The Competition Commission of India (CCI) has cleared the proposed acquisition of up to 38% stake in MG Motor India by JSW Ventures Singapore, a subsidiary of JSW International Tradecorp and part of JSW Group. The deal is expected to boost the growth prospects of MG Motor India, which is engaged in the manufacturing and […]
RBI Announces Revised Eligibility for UCBs in Second Schedule
The Reserve Bank of India (RBI) has announced new eligibility criteria for inclusion of Urban Co-operative Banks (UCBs) in the Second Schedule to the RBI Act, 1934. The Second Schedule lists the banks that are eligible to participate in the statutory liquidity ratio (SLR) and cash reserve ratio (CRR) requirements, and also enjoy certain benefits […]