Cash strapped Indian telecom sector was looking at the govt for long and govt abides… The much anticipated reforms are announced. Broadly they provide deferment of the immediate regulatory payments and a cleaner future process to operate. Key points – 4 year moratorium on all spectrum and Adjusted Gross Revenue (AGR) dues. However, interest would … Read more
Consumer financier Bajaj Finance, which launched its wallet business this July, is aiming to onboard 20-25 million wallets onto its fold by March 2023. The company is currently onboarding 800,000 to 1 million new wallets every month, managing director (MD) Rajeev Jain said. Addressing an analyst call organised by Morgan Stanley, Jain said, “We are … Read more
In June, the government had advanced the target of achieving 20% ethanol in petrol (E20) by five years to 2025. At present, the average blend is around 8-9%. Given the overall better prospects, Triveni announced a capex of Rs 350 crore to more than double it’s distillation capacity over the next 9 months. Key points … Read more
Treasury Sec. Janet Yellen said Congress has until October 18 to raise the debt limit. She previously said the government’s ability to pay its bills will run out sometime in October. The GOP struck down a bill that would have raised the limit on Monday, refusing to help Democrats. See more stories on Insider’s business … Read more
The Supreme Court on Tuesday threw out Adani Gas Ltd’s challenge to the decision of the Petroleum and Natural Gas Regulatory Board (PNGRB) to award the city natural gas distribution (CGD) network for Sanand, Bavla and Dholka in Gujarat to Gujarat Gas. A bench of Justices U U Lalit, S R Bhat and Hrishikesh Roy … Read more
Kotak Mahindra Bank (KMB) has agreed to acquire 9.98% in KFin Technologies Private Limited (KFin) for a cash consideration of Rs 310 crore. Funds will be infused directly into the company via fresh share issue. Key points to note – KFin was earlier known as Karvy Fintech. However, in December 2019 it renamed itself to … Read more
Swiggy is finalising a new financing round of about $500-600 million that is likely to be led by US asset manager Invesco, according to three people aware of the matter. The exercise is likely to catapult the valuation of the online food delivery company to as much as $10 billion, which is double the valuation … Read more
Currently, India imports almost all semiconductors to meet demand estimated to reach around $100 billion by 2025. (Representative image) India and Taiwan are in talks on an agreement that could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year, people familiar with the … Read more