LIC Increased Investment in SBI Cards & Payments
Life Insurance Corporation of India (LIC), the largest institutional investor in the country, has increased its stake in SBI Cards & Payments Services Limited, the second-largest credit card issuer in India. LIC acquired more than three lakh shares of SBI Cards through open market purchases on February 9, 2024, taking its shareholding from 4.99% to […]
Green Hydrogen Pilot Projects Get Govt Guidelines
The Government of India has issued guidelines for implementing pilot projects for using green hydrogen in the transport sector under the National Green Hydrogen Mission (NGHM). The scheme aims to support the development of technologies and infrastructure for replacing fossil fuels with green hydrogen and its derivatives in buses, trucks, 4-wheelers and other vehicles. What […]
PayU and NPCI’s UPI Credit Line for Merchants
PayU, a leading payment solutions provider, has partnered with the National Payments Corporation of India (NPCI) to offer ‘Credit Line on UPI’ feature on its platform. This will enable PayU merchants to accept UPI payments from customers through pre-sanctioned credit line by banks. What is Credit Line on UPI? Credit Line on UPI is a […]
Govt’s PLI scheme Draws Rs 12,900 Cr for Steel
The government of India has launched a Production Linked Incentive (PLI) scheme for specialty steel in October 2021, with an outlay of Rs 6,322 crore over five years. The scheme aims to promote the production and export of high-grade steel products that have higher value addition and lower import dependence. Overview of the PLI scheme […]
Dream11 Insolvency: NCLAT Orders IRP Standstill
NCLT admits insolvency plea against Dream11’s parent company Dream11, India’s largest sports fantasy platform, is in trouble after the National Company Law Tribunal (NCLT) admitted an insolvency plea against its parent company, Sporta Technologies Private Limited, over a rent default of Rs 7.6 crore. The NCLT has appointed Madan Bajrang Lal Vaishnawa as the Interim […]
IndiGo-BOC Pact for 4 Airbus A320NEO
IndiGo, India’s largest airline by market share, has entered into a finance lease transaction with BOC Aviation, a leading global aircraft operating leasing company, for four Airbus A320NEO aircraft. The deal is part of IndiGo’s expansion strategy and fleet modernization efforts, as it aims to provide affordable, on-time, and hassle-free travel across its extensive network. […]
Paytm Faces ED Scrutiny Over Fema Breaches
Paytm, India’s leading fintech company, is under investigation by the Enforcement Directorate (ED) for alleged violations of the Foreign Exchange Management Act (FEMA), according to media reports. The ED is probing whether Paytm and its associate Paytm Payments Bank (PPB) have misused foreign funds or facilitated illegal currency transactions. The scrutiny comes at a time […]
Road Min to Extend EPC contracts to 10 Years
The Ministry of Road Transport and Highways is planning to extend the defect liability period for road contractors under engineering-procurement-construction (EPC) contracts from 5 years to 10 years, according to a senior government official. This move is aimed at improving the quality of road construction and reducing the maintenance cost for the government. What is […]
HDFC Life Ties Up with Lokmanya Society
HDFC Life, one of India’s leading insurers, has entered into a corporate agency tie-up with Lokmanya Multipurpose Cooperative Society, a prominent financial institution with over 200 branches across four states. The partnership will enable Lokmanya Society to distribute HDFC Life’s diverse range of life insurance products to its customers. About HDFC Life It is a […]
Adani Green Powers Up 551 MW in Gujarat
Adani Green Energy Ltd (AGEL), a part of the Adani Group, has announced the commissioning of 551 MW of solar power capacity at Khavda renewable energy park in Gujarat. The company achieved this milestone within a year of initiating work on the park, starting with the development of basic infrastructure, including roads and connectivity and […]