IIFCL Advocates Infrastructure Status for Space Sector
India Infrastructure Finance Company Limited (IIFCL), a state-owned infrastructure financing firm, has urged the government to classify the space sector as part of the infrastructure sector. This move would enable more private investment and innovation in the field of space technologies and services. IIFCL’s role in space financing According to IIFCL’s chairman, PR Jaishankar, the […]
Wipro and Nutanix Join Forces for Hybrid Cloud Innovation
Wipro, a leading technology services and consulting company, has expanded its partnership with Nutanix, a leader in hybrid multicloud computing, to launch a new Nutanix-focused business unit. The new business unit will leverage the industry expertise of Wipro FullStride Cloud with Nutanix Cloud Platform to offer joint solutions for enterprises that want to enhance their […]
Pharma Tech Benefits Now Reach Non-MSMEs
The Indian pharmaceutical industry is undergoing a major transformation as the government has revamped the Pharmaceuticals Technology Upgradation Assistance Scheme (PTUAS) to support drug companies in upgrading their facilities to produce medicines conforming to global standards. The scheme now extends beyond MSMEs to pharmaceutical manufacturing units with a turnover of less than Rs 500 crore […]
Govt Rejects Vedanta HZL Demerger Proposal
The government of India has rejected Vedanta’s proposal to demerge its subsidiary Hindustan Zinc Limited (HZL) into three separate entities, citing national security and public interest concerns. The decision comes as a setback for Vedanta, which had announced its plan to demerge its diversified businesses into six listed companies in September 2023, aiming to unlock […]
Govt Introduces Spectrum Sandbox for Telecom Testing
The government has announced a new policy to facilitate spectrum testing for telecom equipment and R&D. The spectrum regulatory sandbox will allow entities such as educational institutions, telcos, and network manufacturers to apply for spectrum through a portal by paying a nominal fee. The sandbox will enable hassle-free and flexible environment for innovation and development […]
Aditya Birla Merges Firms to Form NBFC Giant
Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) have announced a scheme of amalgamation to create a large unified operating non-banking financial company (NBFC). The merger will result in reduction of legal entities and simplification of the group structure of Aditya Birla Capital. It will also comply with the scale-based regulations of the […]
Govt Extends Coal Import Mix Rule Amid Election Power Fears
The government has extended the mandate for power producers to import 6% of their coal requirements until June 2024 to avoid power shortage during the polls. This decision comes amidst domestic supply constraints and logistical bottlenecks that hamper the movement of coal via the railway network. The peak power demand is expected to surge significantly […]
Karnataka Bans Artificial Colors in Gobi Manchurian
The Karnataka government has taken a strict action against the use of artificial colors in Gobi Manchurian, a popular Indo-Chinese dish, and cotton candy, a fluffy confectionery. The state health department has issued an order banning the use of coloring agents like Rhodamine-B, which are considered harmful and unsafe for human consumption. Why the ban? […]
Court to SBI: Give Poll Bond Details in 1 Day, Not 3 Months!
The Supreme Court on Monday dismissed the State Bank of India’s plea seeking extension of time till June 30 and directed it to furnish the details of electoral bonds to the Election Commission by close of business hours on March 12 . A five-judge Constitution bench headed by Chief Justice D Y Chandrachud also directed […]
Tata Sanand Plant Surpasses 1M Car Production Record
Tata Motors Sanand plant in Gujarat, India, has achieved a remarkable feat by producing 1 million cars since its inception in 2010. The plant, which was initially set up to manufacture small cars, has evolved into a key facility for producing petrol, CNG and electric vehicles. A Journey of Transformation The Sanand plant started its […]