KisanKonnect, Backed by Shilpa Shetty, Secures Rs 31 Crore Funding Led by Climate-Tech Fund GFC
About the startup KisanKonnect is a Pune-based agritech startup that was founded in 2020 by Vivek and Nidhi Nirmal. The startup sources fresh vegetables and fruits directly from its network of 5,000 farmers and delivers them to customers in Mumbai and Pune through its own D2C app and farm-stores. It also has a line of […]
Wow! Momo Secures Rs 350 cr Funding from Khazanah Nasional Berhad; Early Backers Make Exit
Wow! Momo Foods, the parent company of Wow! Momo, Wow! China and Wow! Chicken, has announced that it has raised Rs 350 crore from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. This is the largest funding round for the company so far and values it at over Rs 2,400 crore. About the deal […]
No Exemption for SEZ Units from Compensation Cess under GST
The Andhra Pradesh High Court has recently delivered a judgment that has significant implications for the Special Economic Zone (SEZ) units in India. The court has held that SEZ units are not exempt from paying compensation cess under the Goods and Services Tax (GST) regime on imported goods. This decision may affect the cost and […]
Housing Finance Companies to Follow NBFC Standards: RBI’s New Deposit Rules
In a significant regulatory shift, the Reserve Bank of India (RBI) has proposed new rules for Housing Finance Companies (HFCs) to align them with the standards applied to Non-Banking Financial Companies (NBFCs). This move aims to tighten deposit mobilization rules and introduce a more robust regulatory framework. Key Changes Proposed The RBI’s move to harmonize […]
A New Chapter for Dharavi: Adani Group to Provide 350 sq ft Flats Complete with Kitchen and Toilet in Post-Redevelopment Plan
Dharavi, Asia’s largest slum, is set to undergo a major transformation as the Adani Group has taken up the challenge of redeveloping it in collaboration with the Maharashtra government. The project, which has been delayed for over two decades, aims to provide better living conditions and amenities to the eligible residents of the slum clusters. […]
Reducing Import Costs: India Secures Lithium Blocks in Argentina, Aims to Save ₹24,000 Crore
India has taken a major step towards securing its lithium supply chain by signing an agreement with Argentina’s state-owned mining and energy company to explore and develop five lithium blocks in the Catamarca region. The deal, which is the first-ever lithium exploration project initiated by India, is expected to save the country ₹24,000 crore in […]
Veefin’s SmartFin: Yes Bank’s New Solution for Streamlining Supply Chain Finance Digitally
Yes Bank, one of the leading private sector banks in India, has launched SmartFin, an advanced digital platform for supply chain finance (SCF) in collaboration with Veefin Solutions, a fintech company that specializes in SCF solutions. The platform aims to support micro, small and medium enterprises (MSMEs) by providing them with easy access to working […]
Empowering 1 Lakh Indians: PM Modi’s First Instalment Release to PMAY(G) Beneficiaries Under PM-JANMAN
Prime Minister Narendra Modi on Monday released the first instalment of Rs 540 crore to one lakh beneficiaries of the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN) rural housing scheme. The scheme aims to provide pucca houses to all the Particularly Vulnerable Tribal Groups (PVTGs) across 18 states and Union Territories by 2025. PM-JANMAN: […]
Building a Safer Future: ‘Standardized Development and Building Regulations, 2023’ by Bureau of Indian Standards
The Bureau of Indian Standards (BIS) has issued a new document that aims to revolutionize India’s built environment. The document, titled ‘Standardized Development and Building Regulations, 2023’, is encapsulated in Special Publication SP 73: 2023. It sets forth a comprehensive framework for ensuring safety, accessibility and sustainability in construction, aligned with the National Building Code […]
DEPWD and NHRDN Partner to Enhance Employment Prospects for Divyangjans
A landmark move In a landmark move, the Department of Empowerment of Persons with Disabilities (DEPWD) and the National Human Resources Development Network (NHRDN) have signed a memorandum of understanding on the closing day of the International Purple Fest in Goa. This strategic collaboration aims to aggregate employment opportunities for Divyangjans through the innovative PM-DAKSH-DEPWD […]