Singapore Centre Denies Sony’s Plea Against Zee
The Singapore International Arbitration Centre (SIAC) has rejected Sony’s request to stop Zee Entertainment from pursuing the merger scheme that was cancelled by the Japanese media giant. Zee Entertainment has approached the National Company Law Tribunal (NCLT) in India to enforce the merger that was approved by the same tribunal in August 2023. Background of […]
Crisil Upgrades Adani Power’s Bank Loan Rating
Adani Power Limited (APL), India’s largest private power producer, has received a rating upgrade from Crisil Ratings, a leading credit rating agency, on its Rs 38,000 crore of bank loan facilities. The rating has been upgraded to ‘AA-‘ from ‘A’ with a stable outlook, reflecting the strong improvement in the business and financial risk profiles […]
11.48 Cr PANs Unlinked: Govt Collects Rs 600 Cr in Penalties
The Permanent Account Number (PAN) is a unique identification number issued by the Income Tax Department to taxpayers in India. The Aadhaar is a 12-digit biometric identity number issued by the Unique Identification Authority of India (UIDAI) to residents of India. The government has made it mandatory to link PAN with Aadhaar for filing income […]
Class 1-8 Students to Get Free Sweaters, Bags by UP Govt
The Uttar Pradesh government has announced a budget allocation of Rs 1,000 crore for providing free sweaters, shoes, socks and bags to over 2 crore students of classes 1 to 8 in government schools. The scheme aims to encourage education and improve the infrastructure of primary schools in the state. According to Finance Minister Suresh […]
KSRTC Rolls Out 100 ‘Ashwamedha Classic’ Buses
The Karnataka State Road Transport Corporation (KSRTC) has launched 100 new non-AC buses, branded as ‘Ashwamedha Classic’, for point-to-point express service between Bengaluru and Mysuru. The buses were inaugurated by Chief Minister Siddaramaiah on February 5, 2024, in front of the Vidhana Soudha in Bengaluru. The new ‘Ashwamedha Classic’ buses have a height of 3.42 […]
LICHFL Targets 2-Year Doubling of Housing Loans
LIC Housing Finance Ltd (LICHFL), one of the leading housing finance companies in India, has set an ambitious target of doubling its housing loan portfolio in the next two years. The company aims to achieve this by expanding its customer base, offering competitive interest rates, and launching innovative products and services. LICHFL’s Growth Strategy LICHFL, […]
VECV and ITC Collaborate for Sustainable Logistics
Eicher Trucks and Buses, a division of VE Commercial Vehicles (VECV) Limited, has joined hands with ITC Limited to promote sustainable and environment-friendly mid-mile logistics solutions across various ITC locations in India. As part of this collaboration, ITC, through its vendor partners, will progressively deploy over 100 units of India’s first 5.5-tonne electric vehicle, the […]
Noida Airport Gets Rs 1,150 Cr in UP Budget
Noida International Airport, the upcoming greenfield airport at Jewar in Uttar Pradesh, has received a major boost in the state budget for 2024-25. The UP government has allocated Rs 1,150 crore for the construction work of the airport, which is expected to be operational by September 2024 . India’s Largest Airport Noida International Airport will […]
First Time Ever: LIC Crosses Rs 1,000 Mark
Life Insurance Corporation (LIC), India’s largest life insurer and public sector undertaking (PSU), has achieved a historic milestone by crossing the Rs 1,000 per share mark for the first time on Monday, February 5, 2024. The stock hit an all-time high of Rs 1,028 per share, registering a gain of 8.8% in the current trading […]
Jio, HDFC Bank Eyeing to Buy Paytm Wallets
Paytm, India’s leading digital payments platform, is looking for a buyer for its wallets business, which is housed under Paytm Payments Bank. According to a report by Hindu Businessline, Jio Financial Services (JFSL) and HDFC Bank are among the frontrunners to acquire the business, which has over 300 million users. Why Paytm wants to sell […]