New Delhi, Apr 19 (PTI) Ethereum founder Vitalik Buterin’s Balvi Fund will invest USD 1 million (about Rs 7.6 crore) in partnership with startup ActiveBuidings to develop and deploy indoor air quality monitors and air cleaners in Maharashtra and Karnataka.Under the agreement, ActiveBuildings will deploy 5,000 Indoor Air Quality monitors and 10,000 air cleaners in [...]
New Delhi, Apr 19 (PTI) Debt-ridden Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 29.33 crore as interest on non-convertible debentures (NCDs). The due date for payment was April 18, 2022, it said in a regulatory filing. This is the third default by the Kishore Biyani-led Future group firm [...]
Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman on Tuesday held bilateral meetings with her counterparts from South Korea and South Africa, and discussed issues of mutual interest. "Union Finance Minister Smt. @nsitharaman had a productive meeting with South Korea Deputy PM and Finance Minister Mr Hong Nam-ki @moefkorea_eng on the sidelines of IMF-World Bank [...]
New Delhi, Apr 19 (PTI) Telecom operator Jio on Tuesday waived entry fee and installation charges for new customers opting for postpaid Jiofiber connections to strengthen its position in the segment.The company has also introduced monthly plans for JioFiber postpaid customers and given an option to subscribers of low-value plans to pay Rs 100 for [...]
New Delhi, Apr 19 (PTI) Amid talk of a looming power crisis due to insufficient domestic coal stocks, the Ministry of Power has favoured passing on to consumers the cost of generating electricity using high-priced imported coal. The move will help augment power availability as imported coal-based units, such as that of Adani group, Tata [...]
Mumbai, Apr 19 (PTI) The Reserve Bank has announced a slew of regulatory changes for non-banking lenders by amending the October 2021 circulars on scale-based regulations, which have brought in large NBFCs almost on par with bankers when it comes to addressing their credit risk concentration.The regulator on Tuesday issued four separate circulars: Large exposures [...]
Mumbai, Apr 19 (PTI) The Reserve Bank of India on Tuesday allowed Rural Cooperative Banks (RCBs) to raise funds from people in their area of operation or existing shareholders through a variety of instruments. RCBs, which include state co-operative banks and district central co-operative banks, can raise funds from preference shares and debt instruments, RBI [...]
India's second largest IT services firm Infosys has said that the situation in Ukraine has not impacted the demand environment when it comes to European clients, and the company will see over the next few quarters on how things pan out. Infosys CEO Salil Parekh, during a post-earnings investor call last week, also said as [...]
Mumbai, Apr 19 (PTI) The Reserve Bank on Tuesday said the limits for investment in government securities (g-secs), state development loans and corporate bonds will remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of outstanding stocks of securities for the current financial year.As of now, all investments by eligible [...]
Mumbai, Apr 19 (PTI) State-owned lender Punjab and Sind Bank on Tuesday declared Srei Infrastructure Finance and SREI Equipment Finance Ltd accounts as fraud.The lender said both the companies facing insolvency proceedings are non-performing assets (NPAs)."It is informed that the NPA accounts- SREI Infrastructure Finance Ltd (SIFL) with outstanding dues of Rs 510.16 crore and [...]
Mumbai, Apr 19 (PTI) Non-banking finance companies (NBFCs) will have to ensure while approving loans to the real estate sector that the borrowers have been granted permission from the government and other regulatory authorities for their projects, the Reserve Bank said on Tuesday. Besides, the regulator said NBFCs should not grant loans and advances totalling [...]
Washington, Apr 19 (PTI) Finance Minister Nirmala Sitharaman on Tuesday discussed a range of issues, including the current geopolitical situation and its economic impact, with IMF chief Kristalina Georgieva, and highlighted the Indian government's commitment to support growth through capital expenditure. During the meeting with Georgieva on the sidelines of the ongoing annual spring meetings [...]
Kolkata, April 19 (PTI) Bangladesh Commerce Minister Tipu Munshi met West Bengal Chief Minister Mamata Banerjee on Tuesday and discussed issues of common interest in the area of trade and investment and stressed the need for improving infrastructure at the border for trade facilitation, a statement said. The meeting took place on the eve of [...]
Chennai, Apr 19 (PTI): Global technology company Freudenberg Group on Tuesday has regrouped its battery and fuel cell business with effect from this month, a top official said on Tuesday. The company has made investments of Euros 7.1 million in the domestic market which include acquisition of a new plant in Sriperumbudur near here. "We [...]
Mid-tier IT company Larsen & Toubro Infotech on Tuesday reported a 16.8 per cent jump in March quarter net profit to Rs 637.5 crore, driven by healthy growth in its revenue on higher deal flow. The company had recorded a net profit of Rs 545.2 crore a year ago. The revenue from operations increased by [...]
New Delhi, Apr 19 (PTI) The Ministry of Road Transport and Highways (MoRTH) has made it compulsory for entities to use factory manufactured pre-cast concrete elements in projects within 100 kilometres radius of a pre-cast factory. The move is aimed at harnessing the benefits of pre-fabrication in the construction of national highways. In a statement [...]
Colombo, Apr 19 (PTI) Sri Lanka's embattled Prime Minister Mahinda Rajapaksa on Tuesday proposed to restore the 19th Amendment to the Constitution to curb the powers of his younger brother Gotabaya Rajapaksa and empower Parliament, as protests intensified against the government over its handling of the country's debt-ridden economy. Sri Lanka is grappling with unprecedented [...]
New Delhi, Apr 19 (PTI) Steel ministry will host the 'National Metallurgist Award 2021' event on Wednesday to recognize contributions of metallurgists working in the field of iron and steel. National Metallurgist Award was instituted by Ministry of Steel after extensive deliberations with the Ministry of Home Affairs (MHA). The ministry in a statement on [...]
New Delhi, Apr 19 (PTI) The electronic voting process for shareholders of the debt-ridden Future Retail Ltd (FRL) ended on Tuesday evening ahead of the meetings of the shareholders and creditors to approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail despite opposition from e-commerce major Amazon and an insolvency [...]
Mumbai, Apr 19 (PTI) The management of Larsen & Toubro Infotech (LTI) on Tuesday declined to comment on the "speculated" merger with group company Mindtree, maintaining that it remains focused on its own business for now. Reports of the planned merger, which emerged on Monday, have led to erosion of investor wealth as both LTI's [...]
