GAIL to Double Capacity at Dabhol LNG Terminal
India’s natural gas sector is experiencing a boom, and GAIL (India) Limited, the country’s leading gas marketing and transportation company, is taking a leading role in ensuring sufficient infrastructure to handle the surge. To address this growing demand, GAIL has announced a substantial expansion project for its liquefied natural gas (LNG) terminal located at Dabhol […]
Fairfax Invests Rs 500 Crore in IIFL Finance: Sources
In a move that could signal a revival, a subsidiary of Canadian investment giant Fairfax Financial Holdings has provided a much-needed Rs 500 crore shot in the arm to IIFL Finance. This financial aid comes after a challenging period for IIFL, which was hit hard by a Reserve Bank of India (RBI) ban on offering […]
Varthana Secures $10M Debt from BlueOrchard Finance
Varthana Finance, a non-banking financial company (NBFC) on a mission to bridge the affordability gap in education, has secured a significant debt financing round of $10 million from BlueOrchard Finance. This strategic injection of capital will act as a springboard for Varthana’s growth trajectory, allowing them to amplify their reach and empower a wider network […]
Jio, Blackrock Launch Wealth & Brokerage JV
Continuing their strategic partnership in the Indian financial sector, Jio Financial Services, a subsidiary of Reliance Industries, and BlackRock, the world’s largest asset manager, have announced a new joint venture (JV) to establish wealth management and broking businesses in India. This move signifies Jio’s ambition to transform itself into a comprehensive financial services powerhouse, while […]
Limited Offer: Rs 150 Base Airfare for 50-Minute Flight
Fasten your seatbelts, budget travelers! The skies are opening up for affordable adventures like never before. India’s innovative Regional Connectivity Scheme (RCS), launched in 2016, is making regional air travel more accessible than ever. This government initiative incentivizes airlines to operate on specific routes, bringing down base fares and connecting previously under-served cities. The ₹150 […]
RBI Places Restrictions on Pratapgarh Co-op Bank
In a move to safeguard depositors and ensure financial stability, the Reserve Bank of India (RBI) imposed significant restrictions on the National Urban Co-operative Bank Ltd., located in Pratapgarh, Uttar Pradesh, on April 15, 2024. This decisive action by the RBI stems from concerns over the bank’s deteriorating financial health. Limited Account Access for Customers […]
Port Restrictions Imposed on Essential Exports to Maldives
Recent reports suggesting a complete halt on essential commodity exports from India to the Maldives caused unnecessary panic. In a surprising move on April 5th, 2024, India’s Directorate General of Foreign Trade (DGFT) announced it would allow the export of essential supplies to the Maldives for the 2024-25 fiscal year. This decision comes amidst ongoing […]
India Post Bank Introduces AePS Service Fees
India Post Payments Bank (IPPB) introduced service charges for Aadhaar Enabled Payment System (AePS) transactions in June 2022. This article details the revised charges, services offered through AePS, and additional functionalities like NEFT/RTGS transactions for IPPB customers. Understanding AePS and Its Services AePS, a bank-led model, allows users to conduct various financial transactions at Point […]
India Launches Rupee-Kyat Payment for Myanmar Pulses
Indian consumers and businesses dependent on pulses, a crucial source of protein in the national diet, can finally exhale. April 2024 marked a turning point for pulse trade with the introduction of a direct Rupee-Kyat payment system. This initiative eliminates the previously cumbersome process of navigating multiple currency conversions, a burden that often translated to […]
Varun Beverages: Carbonated Drink Production in Gorakhpur
Gorakhpur, Uttar Pradesh – April 14, 2024 – Varun Beverages, the leading bottler of PepsiCo beverages outside the US, marks a significant stride forward with the inauguration of commercial production at its brand new ₹1,100 crore facility in Gorakhpur, Uttar Pradesh. This strategic move strengthens Varun’s foothold in North India, allowing them to cater to […]