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 […]
Bournvita, Brands Lose ‘Health Drink’ Tag
In a recent move with implications for consumer trust, the Indian government directed e-commerce platforms to remove Bournvita and similar beverages from the “health drink” category. This decision stems from the ambiguity surrounding the term “health drink” within the country’s food regulations. The Food Safety and Standards Authority of India (FSSAI) doesn’t have a specific […]
HMPL Board Sanctions Rs 486 Crore Fundraise
Hazoor Multi Projects Ltd (HMPL), a prominent player in India’s infrastructure development arena, has sent ripples of excitement through the industry with a bold move – a Rs 486 crore fundraising plan. This strategic initiative, approved by the company’s board on April 13, 2024, underscores HMPL’s commitment to accelerating its growth trajectory in the dynamic […]
Air India, Vistara Divert Flights from Iran
Indian airlines are navigating a landscape of heightened geopolitical uncertainty. On April 13, 2024, major carriers Air India and Vistara announced that they would be rerouting some of their flights to avoid Iranian airspace. This decision comes on the heels of an advisory issued by the Indian Ministry of External Affairs urging citizens to avoid […]
Ashneer Grover’s Fintech Leap: ZeroPe Medical Loan App
Ashneer Grover’s latest venture, ZeroPe, is making waves in the fintech sector with its innovative approach to medical loans. The app, currently in its testing phase, has been developed by Third Unicorn, a company founded by Grover post his exit from BharatPe. ZeroPe is set to provide instant pre-approved medical loans of up to ₹5 […]
Adani Green: World’s Biggest Renewable Energy Park in Gujarat
Adani Green Energy Limited (AGEL), India’s renewable energy trailblazer, is rewriting the clean energy narrative with the construction of the world’s largest renewable energy park in Khavda, Kutch district of Gujarat. This colossal undertaking, spread across a staggering 538 square kilometers (roughly five times the size of Paris!), is envisioned as a clean energy powerhouse. […]
Neobank Revolut India: PPI License Approval by RBI
Global fintech giant Revolut has received a significant boost for its Indian ambitions. The Reserve Bank of India (RBI) has granted Revolut India in-principle approval to issue Prepaid Payment Instruments (PPI), including prepaid cards and wallets. This approval marks a crucial step for Revolut’s domestic foray, allowing it to offer a broader spectrum of financial […]