Modi Arrives in Odisha, Launches ₹68,400 Cr Projects
Prime Minister Narendra Modi arrived in Odisha on Saturday afternoon to unveil projects worth Rs 68,400 crore in the state, including the new campus of IIM-Sambalpur . The prime minister was accompanied by Chief Minister Naveen Patnaik, Governor Raghubar Das and Union Education Minister Dharmendra Pradhan. IIM-Sambalpur campus The prime minister inaugurated the new campus […]
Tata Motors Initiates Gigafactory Construction in UK
Tata Motors, the Indian automotive giant and owner of Jaguar Land Rover (JLR), has announced that it has begun construction of a battery cell gigafactory in the UK. The investment, worth over £4 billion, is one of the largest ever in the UK automotive sector and will create thousands of jobs and boost the country’s […]
ED to Investigate Paytm Bank on Money Laundering
The Reserve Bank of India (RBI) has ordered Paytm Payments Bank, a subsidiary of One 97 Communications, to stop accepting fresh deposits in its accounts or wallets from March 2024. The move comes amid concerns over persistent non-compliance with regulatory norms by the fintech giant. According to Reuters, the Enforcement Directorate (ED) will probe Paytm […]
ONDC Network Launches Ticketing Service for Chennai Metro Rail
Chennai Metro Rail Limited (CMRL) has announced that it has integrated with the Open Network for Digital Commerce (ONDC), an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. This makes Chennai Metro Rail the first metro service in India to be available on the ONDC Network, […]
INR 1 Lakh Cr Corpus for Private R&D Incentives: Budget 2024’s Big Reveal
In a major boost to the research and innovation ecosystem in India, Finance Minister Nirmala Sitharaman announced a corpus of INR 1 lakh crore to provide interest-free loans for up to 50 years to the private sector for pursuing research and development in sunrise sectors. This is expected to enhance the competitiveness and productivity of […]
97.50% Rs 2,000 Notes Returned: RBI Announcement
The Reserve Bank of India (RBI) has revealed on February 1 that 97.50% of the Rs 2,000 currency notes in circulation as of May 19, 2023, have been successfully reintegrated into the banking system. This development follows the government’s decision to withdraw the high-denomination bills as part of the clean note policy. What is the […]
Govt’s ‘Bharat’ Rice Now at ₹29/kg in Retail Market
Rice is one of the most consumed staple foods in India, especially in the eastern and southern regions. However, the prices of rice have been rising steadily in the last one year due to various factors such as lower production, higher demand, export restrictions and stock limits. According to the official data, the retail price […]
Govt Ups Sovereign Gold Bond Issuance to 3,500 Cr in FY24-25
The government has announced two more tranches of sovereign gold bonds (SGBs) as part of the Sovereign Gold Bond Scheme 2023-24. The SGBs are an attractive investment option for investors who want to diversify their portfolio and hedge against inflation. The SGBs offer a fixed interest rate of 2.5% per annum on the face value […]
ESAF Bank and Edelweiss Tokio Unite for Life Insurance
ESAF Small Finance Bank, a leading bank in the rural segment of India, has joined hands with Edelweiss Tokio Life Insurance, a new age life insurance company, to offer life insurance products to its customers. The bancassurance partnership aims to provide financial security and protection to the unbanked and underbanked population in India. Benefits of […]
Govt, Google, Meta, IBM Pact for Innovation: MoS IT
The Ministry of Electronics and Information Technology (MeitY) has signed memoranda of understanding (MoUs) with Google, Meta and IBM to foster innovation and investment in India, according to Minister of State for Electronics and IT Rajeev Chandrasekhar . These agreements aim to enhance India’s standing and talent in the emerging technology domain, such as artificial […]