Zee Cuts 50% Staff at Bengaluru Tech Center
In a move shaking up the Indian media landscape, Zee Entertainment Enterprises Limited (ZEEL) announced a significant restructuring at its Bengaluru-based Technology & Innovation Centre (TIC) on March 29, 2024. The restructuring translates to a workforce reduction of roughly 50%, impacting an estimated 325 employees – a substantial figure considering ZEEL’s annual report for 2023 […]
Government Plans ₹7.5 Lakh Crore Market Borrowing FY25
The Indian government has unveiled an ambitious borrowing plan, targeting Rs 7.5 lakh crore from the domestic market in the first half of the financial year 2024-25 (FY25). This figure marks a significant portion (53%) of the total borrowing target of Rs 14.13 lakh crore set for FY25. The raised funds will be used to […]
IRDAI Lists LIC, GIC Re, New India Assurance as D-SIIs
The Insurance Regulatory and Development Authority of India (IRDAI) has kept Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re), and New India Assurance Company Limited (New India Assurance) on its list of Domestic Systemically Important Insurers (D-SIIs) for the 2023-24 financial year. This decision, marking the third consecutive year of […]
HPCL, Tata alliance for Nationwide EV Charging
India’s electric vehicle (EV) landscape is poised for a significant transformation. In a move that could significantly accelerate EV adoption, Tata Motors and Hindustan Petroleum Corporation Ltd (HPCL) have announced a groundbreaking partnership to establish a nationwide network of 5,000 EV charging stations. This strategic collaboration, signed between Tata Passenger Electric Mobility Limited (TPEM) and […]
Karvy Investor Services Loses SEBI Merchant Banker Status
In a move that underscores its commitment to investor protection, the Securities and Exchange Board of India (SEBI) revoked the merchant banker license of Karvy Investor Services Ltd (KISL) effective March 28, 2024. This decisive action stems from a series of compliance failures identified by SEBI during a March 2023 inspection. SEBI Inspection Uncovers Concerning […]
Axis Bank Launches Digital Dollar FDs for NRIs at GIFT City
Axis Bank, a leading Indian private sector bank, has shaken up the NRI investment landscape with the introduction of digital US dollar fixed deposits (FDs) at GIFT City. This groundbreaking initiative, launched on March 27, 2024, signifies a major leap forward in streamlining NRIs’ investment experiences through digitalization. Effortless Onboarding Experience Gone are the days […]
Adani Green Energy Launches 775 MW Solar Projects in Gujarat
Adani Green Energy (AGEL), a subsidiary of the Adani Group, has cemented its position as a frontrunner in India’s renewable energy sector by successfully bringing online its colossal 775 megawatt (MW) solar power projects in Khavda, Gujarat. This achievement comes after AGEL secured all necessary clearances for the project. Landmark Project Bolsters Adani Green’s Renewable […]
Annapurna Swadisht Buys ‘Arati’ Oil Brand for ₹28 Cr
Packaged food major Annapurna Swadisht Ltd. has set its sights on a new segment with the acquisition of the well-established ‘Arati’ brand mustard oil from R R Proteins and Agro Ltd (RRPAL) for Rs 28 crore. This strategic move, announced on March 27th, 2024, marks the company’s entry into the dynamic and profitable edible oil […]
RVNL-Salasar JV Secures ₹60 Cr Central Africa Project
A joint venture (JV) between state-owned Rail Vikas Nigam Limited (RVNL) and Salasar Techno Engineering Limited (STEL), a private steel player, has secured a transmission project worth approximately Rs 60 crore ($7.15 million) in Rwanda. This marks a significant achievement for both companies, particularly for RVNL, traditionally known for its expertise in railway infrastructure development. […]
Force Motors Ends Agricultural Tractor Venture
Breaking News: In a significant strategic shift, Force Motors, a leading Indian automaker, announced the closure of its agricultural tractor business effective March 31, 2024. This decision aligns with a comprehensive product rationalization program designed to streamline the company’s portfolio and prioritize segments with robust growth potential, particularly those aligned with sustainability goals. Revving Up […]