by PTI News | May 5, 2022 | 10:39 pm | Economy, News
Mumbai, May 5 (PTI) The RBI's surprise rate hike may have been prompted by its inability to convince the government to cut excise duty on petrol and diesel and take other supply-side measures to tame runaway inflation, sources aware of the central bank's thinking said on Thursday. There has been a record Rs 10 a [...]
by PTI News | May 5, 2022 | 10:38 pm | Corporate Action, News
Edtech firm Vedantu has laid off 200 employees as it did not find them in sync with the company's growth expectation. When contacted, the company spokesperson confirmed the development and said the firm is also hiring over 1,000 new people. "We have over 6,000 employees out of which 120 contractors and 80 full-time or 3.5 [...]
by PTI News | May 5, 2022 | 10:26 pm | Economy, News
New Delhi, May 5 (PTI) Delhi Chief Minister Arvind Kejriwal on Thursday announced the launch of his government's ambitious start-up policy, under which start-ups will get collateral-free loans and other benefits.The Delhi Cabinet on Thursday approved the implementation of the Delhi Start-up Policy.During an online briefing, Kejriwal announced that entrepreneurship classes and a 'Business Blasters' [...]
by PTI News | May 5, 2022 | 10:26 pm | Corporate Action, News
New Delhi, May 5 (PTI) Engineering firm ABB India on Thursday said its Chairman Morten Wierod has resigned."Morten Wierod vide letter dated May 5, 2022, has tendered his resignation from the position of Chairman and Non-executive & Non-independent Director of the Company, effective closure of business hours of May 5, 2022," a BSE filing said.The [...]
by PTI News | May 5, 2022 | 10:06 pm | News
New Delhi, May 5 (PTI) Responding to queries raised by the Department of Telecom, regulator Trai on Thursday stuck to its recommendations on creating a licensing framework for satellite-based connectivity for low bit rate applications like ATM, internet of things devices and traffic management. The Telecom Regulatory Authority of India (Trai) published its response to [...]
by PTI News | May 5, 2022 | 9:47 pm | Corporate Action, News
New Delhi, May 5 (PTI) Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset monetisation plans to pair debts.After receiving mandatory approvals from the government [...]
by PTI News | May 5, 2022 | 9:16 pm | News
New Delhi, May 5 (PTI) The power ministry on Thursday said Haryana, Uttar Pradesh, West Bengal, Odisha and Jharkhand have not yet issued tender or taken any significant actions to import coal to ensure the fuel supply to their power plants.In a statement, the ministry advised states to import coal for blending purposes so that [...]
by PTI News | May 5, 2022 | 9:12 pm | News
New Delhi, May 5 (PTI) Neobank startup Fi on Thursday said it expects to increase the user base to 3 million by the end of this year and revenue to flow into the company from lending product services initially. Founded by Sujith Narayanan and Sumit Gwalani, the ex-Google employees who pioneered GPay, Fi expects to [...]
by PTI News | May 5, 2022 | 8:59 pm | News
New Delhi, May 5 (PTI) TECHART, the leading international premium refinement brand for all Porsche vehicles, on Thursday forayed into the Indian market with the opening of its flagship store in Bengaluru. The Germany-headquartered firm is know for refining Porsche cars. "We are incredibly excited to bring TECHART to the Indian market today," TECHART CEO [...]
by PTI News | May 5, 2022 | 8:56 pm | Economy, News
Mumbai, May 5 (PTI) Battling a sharp surge in inflation, the Reserve Bank is all for a smooth monetary policy response and the desire to have smaller hikes led it to tighten the policy in an off-schedule meet, a source said on Thursday. Inflation has been massively impacted by Russia's invasion of Ukraine and will [...]
