Dr. Reddy’s Aims to Acquire Novartis India
Dr. Reddy’s Laboratories, one of India’s leading pharma companies, is reportedly interested in acquiring a majority stake in Novartis India, the listed subsidiary of Swiss multinational Novartis AG. This comes after Novartis AG announced a strategic review of its 70.68% shareholding in Novartis India on February 16, 2024. Why Dr. Reddy’s wants Novartis India Dr. […]
Sebi Confirms Refund to 21 Lakh PACL Investors
The Securities and Exchange Board of India (SEBI) has announced that it has refunded Rs 1,022 crore to nearly 21 lakh investors of PACL Ltd, a company that ran illegal investment schemes for decades. The refund process was initiated by the Justice (Retd.) R.M. Lodha Committee, which was constituted by SEBI in 2016 to sell […]
E-Mobility Boost: M&M, Volkswagen Enter Supply Agreement
Mahindra & Mahindra Ltd. (M&M), one of India’s leading automakers, has signed a supply agreement with Volkswagen Group, the largest car manufacturer in Europe, for components of Volkswagen’s Modular Electric Drive Matrix (MEB) for Mahindra’s purpose-built electric platform INGLO. The deal will enable Mahindra to launch five all-electric SUVs in India based on its new, […]
Bandhan Bank Authorized by WB Govt for Tax Collections
Bandhan Bank, one of the leading private sector banks in India, has been authorized by the West Bengal government to collect tax and non-tax receipts through the Government Receipt Portal System (GRIPS). This will make it easier and convenient for the people of the state to pay their dues online. What is GRIPS? GRIPS is […]
LIC Launches Amritbaal Plan for Child’s Higher Studies
LIC, the largest life insurance company in India, has launched a new plan called ‘LIC’s Amritbaal’ to help parents save for their child’s higher education. The plan is a traditional endowment policy that offers guaranteed additions and maturity benefits. What is LIC’s Amritbaal Plan? LIC’s Amritbaal is a non-linked, non-participating individual savings and life insurance […]
NTPC and NALCO Sign Preliminary Power Supply Pact
State-owned power producer NTPC and aluminium major NALCO have inked a preliminary agreement to supply over 1,200 MW of round-the-clock power for the latter’s expansion of smelter plant capacity in Angul, Odisha. The MoU was signed on Friday in the presence of Dillip Kumar Patel, Director (HR), NTPC, and Jagdish Arora, Director (Project &Technical), NALCO […]
Ola Electric S1 Prices Cut by Rs 25,000: New Rates
Ola Electric has announced a price drop of Rs 25,000 for its S1 scooter range this month. The company said it has achieved this due to its strong cost structure, in-house technology and manufacturing capabilities, and eligibility to manufacturing incentives. What are the new prices of Ola Electric S1 scooters? The revised prices of the […]
FCI Authorised Capital Raised to Rs 21,000 Cr by Govt
The central government has increased the authorised capital of the Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore, according to a notification issued by the Ministry of Food on Friday. This move aims to provide additional equity capital to support the foodgrains stock held by the government-owned firm. What is […]
Paytm Bank Loses FASTAG Issuance Authority from NHAI
The National Highway Authority of India (NHAI) has removed Paytm Bank from its list of authorized banks for FASTag services. FASTag is an electronic toll collection system that uses Radio Frequency Identification (RFID) technology to deduct toll charges directly from the linked bank accounts. Paytm Bank, a subsidiary of One 97 Communications, is one of […]
Paytm Bank: RBI Extends Restrictions Deadlines to March 15
Paytm Bank, one of the leading payment banks in India, is facing a tough time as the Reserve Bank of India (RBI) has imposed severe restrictions on its operations. The RBI has accused Paytm of persistent non-compliances and material supervisory concerns, and has ordered it to stop accepting new customers, deposits, credit transactions, fund transfers […]