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TCS is planning to invest Rs 600 crore in Kerala

TCS is planning to invest Rs 600 crore in Kerala

The Assembly was informed on Thursday that IT major Tata Consultancy Services (TCS) is planning to spend Rs 600 crore in the Kinfra Electronic and Manufacturing Cluster in Kalamassery, near Kerala's Kochi. P. Rajeev, the industries minister, also told the House that an in-principle decision has been reached and that a memorandum of understanding will [...]

The Reserve Bank of India is developing Digital Currency

The Reserve Bank of India is developing Digital Currency

According to deputy governor T. Rabi Sankar, the Reserve Bank of India (RBI) is now working on a phased rollout approach for a central bank digital currency (CBDC) and analyzing use cases to ensure minimal or no interruption. Some key issues, according to Sankar, include whether CBDCs should be used only in retail payments or [...]

Bajaj Finserv will Venture into Asset Management

Bajaj Finserv will Venture into Asset Management

Synopsis: It has applied for a license to create an asset management firm and is waiting for approval from the Securities Exchange Board of India. Bajaj Finserv's consolidated profit after tax fell 31.5 percent year on year to Rs 833crore in Q1FY22, while overall revenue fell 1.7 percent to Rs 13,949crore. The annual general meeting [...]

The Cabinet will approve 100 percent Foreign Direct Investment in BPCL

The Cabinet will approve 100 percent Foreign Direct Investment in BPCL

On July 22, sources told CNBC Awaaz that the Union Cabinet is expected to approve 100 percent foreign direct investment (FDI) in Bharat Petroleum Corporation (BPCL). The action will serve as a "booster for the divestment process," according to the newspaper. Private refineries, for example, are allowed full FDI, whereas PSUs are subject to a [...]

SBI, PNB, Canara Bank, 5 others buy stakes in the Bad Bank

SBI, PNB, Canara Bank, 5 others buy stakes in the Bad Bank

A bad bank is set up to take over the bad loans of other banks that have high NPAs at a market price. This bad bank- National Asset Reconstruction Company Limited (NARCL) received legal recognition earlier this month. Eight public sector banks have so far invested in the first round. Canara Bank purchased approximately 12 [...]

NPCI planning to take RuPay and UPI to Global Markets

NPCI planning to take RuPay and UPI to Global Markets

Synopsis: NPCI planning to take RuPay and UPI to global markets. This development comes soon after the MasterCard regulatory issues from the regulatory body of India the Reserve Bank of India. NPIC or the National Payment Corporation of India is planning actions with several international organizations to broader the worldwide access of RuPay and Universal [...]

Reliance Industries’ O2C, new energy biz may be valued over $100 Billion: Report

Reliance Industries’ O2C, new energy biz may be valued over $100 Billion: Report

According to a study by Wall Street firm Bernstein Research, Mukesh Ambani's Reliance Industries Ltd's intentions to invest 75,000 crores in solar, batteries, fuel cells, and hydrogen may result in a valuation of $36 billion (₹2.6 lakh crore) for the new energy industry. Reliance presently operates in three verticals: oil-to-chemical (O2C), which includes its refineries, [...]

Following the Saudi-UAE Compromise, OPEC+ to increase oil Output

Following the Saudi-UAE Compromise, OPEC+ to increase oil Output

Ending a two-week feud between Saudi Arabia and the United Arab Emirates, OPEC and its allies agreed to gradually add extra oil supply to the market.  The unusually public dispute, which put the cartel's unity to the test, was settled through a classic compromise, with Riyadh meeting Abu Dhabi halfway in its demand for a [...]

Adani Airport Holdings to own close to 98% stake in GVK Airport Developers

Adani Airport Holdings to own close to 98% stake in GVK Airport Developers

Synopsis: The operator of the country's second-largest airport, Mumbai International Airport Ltd (MIAL), has already been taken over by Adani Airport Holdings Ltd (AAHL). Due to its rights as a lender to the company, Adani Airport Holdings Ltd. (AAHL), the flagship holding company of Adani Group's airport division, will own roughly 98 percent of GVK [...]

Bankers will face huge disruption due to the ban on MasterCard from RBI

Bankers will face huge disruption due to the ban on MasterCard from RBI

Synopsis: All the banks in India depend solely upon cards network giant MasterCard for their businesses. Hence it will take at least 2 months to shift their business to any other company. Earlier this week the Reserve Bank of India took a crucial decision to ban the global cards network giant MasterCard from issuing new [...]

RBI warns of Downsides to Direct Financing of Government’s Deficit

RBI warns of Downsides to Direct Financing of Government’s Deficit

Synopsis: Governor of the Reserve Bank of India stated that RBI played a vital role in the government’s debt management, which helped speed up the transmission of the monetary policy during the pandemic time in the country. Governor Das also stated that in the present quarter retail inflation is at its highest levels. It is [...]

8% Dip in Credit Card buys for April-June Quarter

8% Dip in Credit Card buys for April-June Quarter

Synopsis: According to data and reports from ICICI securities, the second wave made very less impact on credit card spends when compared to the first wave. Credit card spendings seem to have recovered in June judging by trends, compared with a 7% month-on-month downtrend in May because of the second wave of the Covid-19 pandemic. [...]

TCS has positioned itself as a market leader in IT Managed Security Services

TCS has positioned itself as a market leader in IT Managed Security Services

Synopsis: According to Everest Group PEAK Matrix for IT Managed Security Services, Tata Consultancy Services has been positioned as a Leader (MSS). TCS has gained significant enterprise mindshare, according to the report, as a result of its extensive focus on leveraging AI/ML and automation. This has been backed up by strategic investments in platformed threat [...]