You announced on Thursday that the government will provide ₹30,600 crore in guarantees to the National Asset Reconstruction Co. Ltd to buy ₹2 trillion of bad loans from banks. This will be in a 15:85 split, with NARCL offering banks cash for 15% of the value of assets and issuing security receipts for the rest … Read more
Shapoorji Pallonji Group has decided to sell Eureka Forbes business to the Private Equity (PE) giant, valuing business at Rs 4,400 crore. Eureka Forbes is a 100% subsidiary of the listed group entity Forbes & Co (Forbes). Structuring of the transaction is very interesting – Normally, in such transactions, the holding company (Forbes in this … Read more
As per Mr Poonawalla, he was shocked when he first heard the news about SEBI barring Bhutada and seven others from the securities market for alleged insider trading of the shares of the Company (Poonawalla Fincorp earlier knows as Magma Fincorp). Following that, Bhutada stepped down from the post of MD on September 16, 2021, … Read more
Chief Minister Pinarayi Vijayan has inaugurated “Digital Hub” with a capacity to support 200 start-ups via video conferencing, said a press release from Chief Minister’s Office. The project is completed at Kalamassery in Ernakulam district. While inaugurating the Digital Hub, the chief minister said it is a significant step forward in the IT industry of … Read more
Facebook’s impact on a planet where nearly half the people alive use its product has reportedly become a point of contention among the company’s leadership. A meeting of Facebook leaders in early September focused on “whether Facebook has gotten too big,” and that the general tone was, “We created the machine and we can’t control … Read more
Airlines can now operate a maximum of 85 per cent of their pre-Covid domestic flights instead of the 72.5 per cent allowed till date, the ministry of civil aviation stated on Saturday. The carriers have been operating 72.5 per cent of their pre-Covid domestic flights since August 12, according to the ministry’s order. Between July … Read more
Apna.co, a professional networking platform for blue- and grey-collar workers, has entered the coveted club, or those companies with a valuation of $1 billion or more, in just 21 months, the fastest Indian startup to do so. The company said it had raised $100 million in a new financing round, led by existing investor Tiger … Read more