Govt appoints Siddhartha Mohanty as interim chairman of LIC: Report

Mar 12, 2023, at 08:20 pm

Mumbai: The Centre has appointed Siddhartha Mohanty as the interim chairman of the Life Insurance Corporation of India (LIC) for a three months period, starting March 14, according to CNBC.

IDFC Mutual Fund rebrands to Bandhan Mutual Fund

Mar 11, 2023, at 08:42 pm

Mumbai: IDFC Mutual Fund is set to adopt its new brand identity as Bandhan Mutual Fund on Monday.

US: California regulator shuts Silicon Valley Bank

Mar 11, 2023, at 02:15 pm

Washington: Silicon Valley Bank, Santa Clara, California, was closed on Friday by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver, marking the largest failure of a U.S. financial institution in recent years.

Rajeev Chandrasekhar holds consultations with stakeholders on the proposed Digital India Bill

Mar 11, 2023, at 07:58 am

New Delhi: Union Minister of State for Electronics & IT(MeitY) Rajeev Chandrasekhar held consultations with stakeholders on the soon-to-be introduced Digital India Bill.

NPS subscribers grow 22.88% y-o-y to 624.81 lakh

Mar 11, 2023, at 07:32 am

New Delhi/IBNS: The National Pension System (NPS) has witnessed a significant surge in its subscriber base over the past year, with the number of subscribers under various schemes rising to 624.81 lakh as of March 4, 2023, the Ministry of Finance said on Friday.

India-US bilateral Commercial Dialogue 2023: Collaboration in range of sectors, including semiconductors, renewable energy, agreed

Mar 11, 2023, at 05:34 am

New Delhi/IBNS: India-US bilateral goods and services trade has almost doubled since 2014, exceeding US $191 billion in 2022, with the United States becoming India’s largest trading partner in 2022, signalling accelerated growth of bilateral trade between both countries, said a Joint Statement issued after the conclusion of the India-US Commercial Dialogue 2023 on Friday.

India, US sign MoU on semiconductor supply chain and innovation partnership

Mar 11, 2023, at 04:03 am

New Delhi/IBNS: India and US on Friday inked a Memorandum of Understanding (MoU) for establishing a semiconductor supply chain and innovation partnership, an official statement said.

India's forex reserves increase to $562 billion in the week ended March 3 after five weeks of decline

Mar 11, 2023, at 02:38 am

Mumbai: India's foreign exchange reserves increased for the first time in five weeks and reached $562.40 billion as of the week ended March 3, according to the Reserve Bank of India's (RBI) statistical supplement released on Friday.

PM Modi, Sheikh Hasina to launch cross-border fuel pipeline on March 18: Report

Mar 11, 2023, at 02:14 am

New Delhi: Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will launch the first-ever India-Bangladesh cross-border oil pipeline on March 18 through video conferencing, Bangladesh's Foreign Minister A K Momen said on Friday, media reported.

Global Surfaces IPO to launch next week, sets price band at Rs. 133-140 per share

Mar 11, 2023, at 01:16 am

Kolkata: Global Surfaces Limited, a Jaipur-based suppliers of surface solutions, announced its price band for Rs 133-140 per share for its forthcoming initial public offering through book-building process.

Axis Mutual Fund launches ‘Axis S&P BSE Sensex ETF’

Mar 10, 2023, at 11:26 pm

New Delhi: Axis Mutual Fund, one among the fastest growing fund houses in India, announced the launch of their New Fund Offer – Axis S&P BSE Sensex ETF (An Open Ended Exchange Traded Fund Tracking S&P BSE Sensex TRI).

Honda Motorcycle & Scooter India launches 2023 H’ness CB350 & CB350RS

Mar 10, 2023, at 11:18 pm

Mumbai: Creating a stir in the mid-size segment, Honda Motorcycle and Scooter India today launched the OBD2B compliant 2023 H’ness CB350 & CB350RS.

Volkswagen India inaugurates a new sales, service touchpoint in Kota, Rajasthan

Mar 10, 2023, at 09:32 pm

Kota: Volkswagen Passenger Cars India strengthens its presence in Rajasthan with the inauguration of a new touchpoint in Kota.

Bitcoin trading below usd 20,000 after 8 pc drop

Mar 10, 2023, at 08:36 pm

Moscow: The price of Bitcoin, the largest cryptocurrency, dropped 8.07% and was trading at $19,970 on the Binance cryptocurrency exchange, trading data showed on Friday.

Jammu and Kashmir: UT witnessing beekeeping promotion project

Mar 10, 2023, at 07:51 pm

Srinagar:  The Jammu and Kashmir government is trying to increase bee colonies through cluster formation, encouraging bee-preneurship and bee-startups besides developing infrastructure for post harvest management, value addition and marketing, media reports said.

Jammu and Kashmir Bank introduces Chatbot to enable better service to customers

Mar 10, 2023, at 07:43 pm

Srinagar: Jammu and Kashmir Bank on Thursday launched  JIA (J&K Bank Intelligent Assistant) – an AI-enabled Chatbot to enable better service to customers.

B. Gopkumar to be next MD & CEO of Axis AMC; other key appointments announced

Mar 10, 2023, at 02:15 am

Mumbai: Axis Asset Management Company Ltd. (AMC) on Thursday appointed MD & CEO of Axis Securities B. Gopkumar the next MD & CEO of Axis AMC, according to a media statement.

Apple plans to make India its sales engine amid record revenues in the region: Report

Mar 10, 2023, at 01:17 am

iPhone maker Apple is focussing on India as its priority region amid a significant increase in demand for Apple products in the country. The plans include the elevation of its head of India and making the country sales engine for Apple, media reports said.

NSE cautions investors against person collecting money, seeking trading credentials

Mar 09, 2023, at 11:29 pm

Mumbai/IBNS: The National Stock Exchange (NSE) has cautioned investors against a person who is allegedly trying to extract trading account credentials from investors by offering to help them in stock market trading.

Jio Platforms unit Radisys to acquire Mimosa Networks for $60 million

Mar 09, 2023, at 09:16 pm

Mumbai: Radisys Corporation, a wholly owned subsidiary of Jio Platforms, would acquire Mimosa Networks for US$ 60 million on a debt-free, cash-free basis from Airspan Networks Holdings.

IndiGo appoints Mark Sutch for CarGo International as CCO

Mar 09, 2023, at 09:12 pm

Mumbai: IndiGo has appointed Mark Sutch as its new Chief Commercial Officer – CarGo International, according to a media statement.

Airbus wins order for two ACH160 helicopters in India

Mar 09, 2023, at 08:11 pm

New Delhi/IBNS: Airbus Corporate Helicopters has won an order for two ACH160 helicopters in India – the first sale of the type in the region, a company statement said.

SBI raises Rs 3,700 cr via AT-1 bonds

Mar 09, 2023, at 05:34 am

Mumbai: The country’s largest lender SBI has raised Rs 3,717 crores by issuing Additional Tier 1 (AT-1) bonds at a coupon rate of 8.25%.

Govt brings crypto trading under anti-money laundering provisions

Mar 09, 2023, at 05:01 am

New Delhi: The government has brought the cryptocurrency industry under anti-money laundering regulations as part of its ongoing efforts to strengthen legal control over digital assets.

SEBI tightens rules for buyback of shares through stock exchange route

Mar 09, 2023, at 04:56 am

Mumbai: The Securities Exchange Board of India has released a circular specifying restrictions on placements of bids, price, and volume for a company seeking to buy back its shares through the exchange route, media reports said.

Future Enterprises declared insolvent, to be auctioned off

Mar 09, 2023, at 04:18 am

Mumbai: After Future Retail, another Kishore Biyani-owned company, Future Enterprises, has been admitted to insolvency resolution and will be auctioned off in order to collect outstanding debts, a report in the media said.

Adani Group repays $500 million bridge loan to restore investors' faith: Report

Mar 09, 2023, at 03:33 am

Embattled Adani Group has settled a $500 million bridge loan due on Thursday, as part of its effort to restore faith in its financial stability following a critical report from US-based short seller Hindenburg Research, Bloomberg reported.

India's coal and power supply stretched to limit amid rapid growth in economic activities

Mar 09, 2023, at 02:19 am

New Delhi: The power generators and coal mines in India are currently experiencing significant pressure to keep up with the escalating demand for electricity, which has been fuelled by the country's rapidly expanding economy and swift electrification efforts, Reuters reported.

SoftBank CEO Masayoshi Son attends OYO founder Ritesh Agarwal's wedding

Mar 08, 2023, at 08:18 am

New Delhi: SoftBank CEO and founder Masayoshi Son attended the wedding ceremony of Ritesh Agarwal, the founder of OYO in Delhi. The occasion was also attended by several prominent corporate figures, including Vijay Shekhar Sharma of Paytm, Peyush Bansal of Lenskart, and Kalyan Krishnamurthy, the CEO of Flipkart, according to media reports.

Defence Ministry signs procurement deals with HAL and L&T

Mar 08, 2023, at 07:32 am

New Delhi/IBNS: The defence ministry on Tuesday finalised one deal each with Hindustan Aeronautics Limited (HAL) and Larsen & Toubro Ltd (L&T).