Mumbai, Mar 12 (PTI) Japanese financial group Mitsubishi UFJ Financial Group (MUFG) is establishing a USD 300 million fund to invest exclusively in Indian start ups, a senior official said on Saturday. "MUFG is establishing a 300 million US dollar fund named MUFG Ganesha Fund to invest exclusively in seeding Indian start ups," MUFG's Member [...]
New Delhi, Mar 12 (PTI) The government has sought feedback and suggestions from the industry and other stakeholders till March 25 regarding the upcoming national policy for the medical devices sector, an official release said on Saturday. The Department of Pharmaceuticals (DoP) has released on its website, an approach paper for the Draft National Policy [...]
Kolkata, Mar 12 (PTI) Tata Steel Ltd is looking at alternative markets for imports of coal as it faces uncertainties with its Russian suppliers and bankers, amid the Russia-Ukraine conflict, a company official said on Saturday. The geopolitical situation after Russia's invasion of Ukraine has also opened up steel export opportunities in Europe, following a [...]
New Delhi, Mar 12 (PTI) The Consumer Affairs Department will organise 'Consumer Empowerment Week' during March 14-20, coinciding with World Consumer Rights Day. In an official statement, the department said that the 'Consumer Empowerment Week' to celebrate and commemorate 75 years of progressive India and the glorious history of its people, culture and achievements. The [...]
The Media multibagger stock has given a return of 216.64% within a span of just one year. In the same period last year, the stock traded at Rs 53.50 per share. The stock seems to be making up for the lost momentum since inception. Over the last 6 months, the stock has earned investors 132.21%. The [...]
Interest rate on employees' provident fund deposits on Saturday was cut to a four-decade low of 8.1 per cent for the current 2021-22 fiscal from 8.5 per cent in the previous year. This is the lowest interest rate since 1977-78 on deposits that employees make towards their retirement fund. Interest rate on employees provident fund [...]
New Delhi, Mar 12 (PTI) Union minister Nitin Gadkari on Saturday said the government is targeting a pace of 50 km per day for national highways' construction in the country, and expressed hope that the pace in the current fiscal year will be higher than that in 2020-21. Addressing 'ET Global Business Summit' virtually, Gadkari said the [...]
New Delhi, Mar 12 (PTI) CPI MP Binoy Viswam on Saturday urged Finance Minister Nirmala Sitharaman to reconsider the decision of reducing the EPFO interest rate accusing the government of “throwing the working class under the bus”. In a letter he wrote to the minister, Viswam accused the BJP-led government of showing its “true colours” [...]
New Delhi, Mar 12 (PTI) The railways will now open food plaza, fast food units and multi-cuisine restaurants, taking over from its catering arm IRCTC, in a bid to generate non-fare revenue, according to an order issued by the Railway Board. The Indian Railway Tourism and Catering Corporation (IRCTC), which is responsible for serving food [...]
New Delhi, Mar 12 (PTI) Union minister Nitin Gadkari on Saturday said top officials of automobile companies have promised him that they will start manufacturing vehicles of flex-fuel variants within six months. Addressing 'ET Global Business Summit' virtually, Gadkari further said the government is working on a plan to shift public transport to 100 per cent clean energy [...]
New Delhi, Mar 12 (PTI) Bureau of Indian Standards (BIS) has seized 1,032 pressure cookers and 936 helmets which were found to be without ISI mark and violated the Quality Control Orders (QCO), the government said on Saturday. The BIS has conducted search and seizure operation for violation of QCO on helmets and pressure cookers, [...]
Dubai, Mar 12 (PTI) Union Steel Minister Ram Chandra Prasad Singh on Saturday said production of steel in India will increase in the years to come as it expands scale of reprocessing scrap materials. Speaking to PTI here, Singh said as part of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) it will be easier for [...]
New Delhi, Mar 12 (PTI) The RBI has lifted all restrictions on HDFC Bank, permitting it to launch new digital initiatives, the private sector lender said on Saturday. "We would like to inform one and all that the Reserve Bank of India (RBI) has lifted the restriction on the business generating activities planned under the [...]
New Delhi, Mar 12 (PTI) Union Minister Hardeep Singh Puri on Saturday launched the ‘India WaterPitch-Pilot-Scale Start-up Challenge’, under which the government will select 100 start-ups and they will be provided with Rs 20 lakh each as funding support as well as mentorship, a statement said. According to the Ministry of Housing and Urban Affairs, [...]
Mumbai, Mar 12 (PTI) Adobe Chairman and CEO Shantanu Narayen on Saturday said the software major's aspirations for India are not just related to products but to run global businesses from the country. He also said the company's employees in India are responsible for major part of every aspect of Adobe's business. "Our aspirations for [...]
Andhra Pradesh, India (NewsVoir) SRM University-AP, the choice destination of next-generation, has taken a unique initiative, one-of-its-kind in higher education, to launch a National Talent Hunt Hackathon in collaboration with Dare2Compete. The competition aims to reach out to talented GenZ with a flair for coding. It is scheduled to be held online with two stages [...]
New Delhi, Mar 12 (PTI) Interest rate on employees' provident fund deposits on Saturday was proposed to be cut to a four-decade low of 8.1 per cent for the current 2021-22 fiscal from 8.5 per cent in the previous year, sources said. This is the lowest interest rate since 1977-78 on deposits that employees make [...]
New Delhi, Mar 12 (PTI) Gifting platform Ferns N Petals on Saturday said Lighthouse India Fund III has invested Rs 200 crore (USD 27 million) in it. The company plans to use the funds to invest in improving its systems and technology to enhance customer experience for all gifting occasions, Ferns N Petals (FnP) said [...]
New Delhi, Mar 12 (PTI) India needs USD 20 billion (about RS 1.53 lakh crore) worth of investments each year to achieve its climate targets and fund its green transition, according to a report. The white paper by Ficci and Trilegal highlights that the country needs a large budget allocation, international finance from bilateral and [...]
New Delhi, Mar 12 (PTI) Sachin Bansal-led Navi Technologies has filed preliminary papers with Sebi to raise Rs 3,350 crore through an initial public offering (IPO). The proposed IPO is completely through a fresh issue of equity shares and there will be no offer-for-sale (OFS), according to the draft red herring prospectus [...]
