SHRESHTA: A Scheme for Progress
SHRESHTA is a new scheme launched by the government to provide quality residential education to meritorious SC students in the best private schools in the country. The scheme aims to empower SC students and facilitate their socio-economic progress. What is SHRESHTA? SHRESHTA stands for Scheme for Residential Education for Students in High Schools in Targeted […]
Shadowfax Stake Bought by NewQuest Gets CCI Nod
NewQuest Asia Fund IV (Singapore) Pte, a private equity fund of TPG Group, has received approval from the Competition Commission of India (CCI) to acquire a stake in Shadowfax Technologies, a tech-enabled logistics platform. What is Shadowfax Technologies? Shadowfax Technologies is a crowd-sourced and tech-enabled logistics platform that provides delivery services to various sectors such […]
Kotak Mahindra GI 70% Stake Bought by Zurich Insurance
Zurich Insurance Company Ltd., a leading global insurer, has received approval from the Competition Commission of India (CCI) to acquire up to 70% stake in Kotak Mahindra General Insurance Company Ltd. (Kotak Mahindra GI), a subsidiary of Kotak Mahindra Bank Ltd. The deal is expected to be completed by June 30, 2024. Background of Kotak […]
CPIH, AIL – II, Ontario Inc. Acquires Interise: CCI Approval
The Competition Commission of India (CCI) has approved the proposed combination involving acquisition of 100% shareholding of Interise Investment Managers Limited by the CPIH, AIL – II. and Ontario Inc. Who are the acquirers? CPIH, AIL – II and Ontario Inc. are the acquirers in this deal. CPPIB India Private Holdings Inc. (CIPH) is a […]
NHAI and Maharashtra Sign MoU for Ropeway Projects
The Maharashtra government has joined hands with the National Highways Logistic Management Limited (NHLML), a 100 per cent owned special purpose vehicle of the National Highway Authority of India (NHAI) for infrastructure development, to implement ropeway as part of the National Ropeway Programme ‘Parvatmala’. The state government has proposed a total of 40 ropeway projects […]
Banking Liquidity Deficit Down to ₹1.40 Lakh Crore: RBI
The liquidity situation in the Indian banking system has improved significantly in the first week of February 2024, as the government increased its spending and eased the pressure on money market rates. According to a report by MintGenie, the liquidity deficit in the banking system declined to about ₹1.40 lakh crore on February 4, from […]
Flywire and SBI Simplify Payments for Foreign Students
Indian students who want to pursue their education abroad can now enjoy a hassle-free and convenient payment process, thanks to the partnership between Flywire Corporation and State Bank of India (SBI), the largest lender in India. The partnership aims to offer Indian students an advanced digital checkout experience for their international educational payments, ranging from […]
India’s $78B Deal to Extend Qatar LNG Imports
India, the world’s fourth-largest consumer of energy, is likely to sign a $78 billion deal with Qatar, the world’s top exporter of liquefied natural gas (LNG), to extend its LNG imports for another 20 years beyond 2028 at rates that are lower than current prices, sources said. The deal will be signed between Petronet LNG […]
Digital Commerce Platform OTO Bags $10M from K L Rahul
OTO, a digital commerce and lending platform for two-wheelers, has raised $10 million in a funding round led by GMO Venture Partners. The round also saw participation from Turbostart, Indian cricketer K L Rahul, and a few other family offices. Existing investors Prime Venture Partners, Matrix Partners, and 9 Unicorns funds also joined the round. […]
HDFC Bank to Buy 9.5% Stake in ICICI Bank, 5 Others
HDFC Bank Group, the country’s largest private banking group, has received approval from the Reserve Bank of India (RBI) to acquire up to 9.5% stakes in six private lenders, including ICICI Bank, Axis Bank, YES Bank, Suryoday Small Finance Bank, IndusInd Bank and Bandhan Bank. The group comprises HDFC Bank, HDFC Asset Management Company (AMC), […]