Rolls-Royce Extends Contract with TVS Supply Chain Solutions
Rolls-Royce, a global leader in technology and innovation, has announced that it has extended its contract with TVS Supply Chain Solutions (TVS SCS), a global supply chain solutions provider, for five years until 2029. The contract extension pertains to the advanced Parts Distribution Centre (PDC) located in Singapore, which serves the Asia Pacific markets for […]
SEBI Streamlines Business and Compliance Reporting
The Securities and Exchange Board of India (SEBI) has issued several circulars to streamline business and compliance reporting for intermediaries in the securities market. These circulars aim to enhance transparency, reduce redundancies, and facilitate ease of doing business. Centralization of FATCA and CRS Certifications at KRAs : SEBI One of the circulars, SEBI/HO/MIRSD/SECFATF/P/CIR/2024/12, dated February […]
RBI Article refuses IMF’s India Debt-GDP Ratio Claim
The Reserve Bank of India (RBI) has published an article in its monthly bulletin that rejects the International Monetary Fund’s (IMF) contention that India’s general government debt-GDP ratio could surpass 100% in the medium term due to the shocks caused by the COVID-19 pandemic and the subsequent fiscal stimulus. The article, titled ‘The Shape of […]
Amazon Delivery Now at 4,500 Feet in Uttarakhand
Amazon Delivery service, the e-commerce giant, has achieved a remarkable feat by delivering packages to Gajoli, a remote village in the Uttarkashi district of Uttarakhand. According to the company, it has become the first and only e-commerce company to deliver packages to Maharishi Ashram at Gajoli, situated at 4,500 feet in the Himalayan mountain range […]
EV Startup Vidyut Raised $10M by 3one4 Capital
Vidyut, an electric vehicle (EV) financing startup, has raised $10 million in its Series A round of funding, led by 3one4 Capital. The company plans to use the funds to expand its presence to 40 cities and offer a full-stack ecosystem for EV owners, including insurance, resale, servicing and maintenance. Vidyut was founded in 2021 […]
Bajaj Allianz Inaugurates New Office in Ayodhya, UP
Bajaj Allianz, one of the leading private insurance companies in India, has opened a new office in Ayodhya, Uttar Pradesh, to provide comprehensive insurance solutions to the customers in the city and nearby areas. The new office was inaugurated on 20th February 2024 by Mr. Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance, […]
India’s FIU Registers PayPal Under Anti-Money Laundering Law
PayPal, the American online payments gateway service provider, has finally registered its operations with the Financial Intelligence Unit of India (FIU-IND), in compliance with the Prevention of Money Laundering Act (PMLA) and the Reserve Bank of India’s (RBI) recent regulatory framework governing cross-border payment aggregators (PA-CB) . This comes after a protracted legal battle between […]
Tech Mahindra 100% Acquisition of Orchid Cybertech for $3.27M
Tech Mahindra, one of the leading IT services companies in India, has announced that it has acquired 100% stake in Orchid Cybertech Services Inc (OCSI), a Philippines-based customer experience firm, for USD 3.27 million (over Rs 27 crore) in an all-cash deal. The acquisition will strengthen Tech Mahindra’s relationship with TPG Telecom, a major Australian […]
Mitsubishi Acquires 30% of TVS Mobility’s New Entity
Mitsubishi Corporation, the Japanese conglomerate, has entered into a strategic partnership with TVS Mobility, one of India’s leading automobile dealerships, to acquire 30% stake in its new entity, TVS Vehicle Mobility Solution Ltd (TVS VMS). The deal was announced on February 19, 2024, and is expected to close by March 31, 2024. TVS VMS is […]
Sony Joins Prime Video to Launch Stream in India
Sony Pictures Entertainment has partnered with Prime Video India to launch a new OTT service called Sony Pictures – Stream. The service will offer international movies, popular TV shows, and content from SonyLIV and Crunchyroll India on Prime Video Channels. The service is available at an introductory price of Rs 399 per year. Sony Pictures […]