Adani Group Interested in Mumbai Airport Stake: Report
Adani Group, India’s second-largest airport operator through Adani Airports Holdings (AAHL), has set its sights on acquiring the remaining 26% stake in Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA). Currently, the AAI holds this stake, and AAHL is looking to take complete control of Mumbai International Airport (MIAL), which operates CSMIA. This news comes after […]
Bajaj Allianz Expands in Maharashtra with Wardha Office
Wardha, Maharashtra – Bajaj Allianz General Insurance’s latest branch in Wardha marks a significant milestone in the company’s strategic expansion across Maharashtra. This move is a testament to Bajaj Allianz’s dedication to making insurance more accessible to the people of Maharashtra and reflects its deep understanding of the unique insurance needs of the region’s residents. […]
RBI Tightens Regulations on P2P Credit Card Transactions
The Reserve Bank of India (RBI) has recently taken strict measures to curb the misuse of credit cards for peer-to-peer (P2P) payments through third-party service providers. This comes after the central bank found instances of customers using credit cards to pay rent and tuition fees via fintech apps that bypass the regulatory norms. The RBI […]
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 […]