Business

Tata AIA Life Launches ‘Sampoorna Raksha Promise’

Tata AIA Life Insurance has recently unveiled its latest offering in the term insurance segment - Sampoorna Raksha Promise. This innovative product is designed to provide enhanced financial security to policyholders and their families, addressing various aspects of life insurance...

GAIL and Petron to Establish 500 KTA Bio-Ethylene Plant in India

On August 21, 2024, GAIL (India) Limited and US-based Petron Scientech Inc signed a Memorandum of Understanding (MoU) to explore the development of a 500 Kilo Tonne per Annum (KTA) bio-ethylene plant in India. This initiative will involve a 50:50...

Nestlé Announces Laurent Freixe to Succeed Mark Schneider as CEO

In a significant move that has caught the attention of the business world, Nestlé, the global food and beverage giant, has announced a pivotal change in its top leadership. This transition comes at a crucial time for the company as...

Zomato Acquires Paytm’s Entertainment Ticketing Business

In a recent development, Zomato has approved the acquisition of Paytm's entertainment and ticketing business for ₹2,048 crore in a cash deal. This move marks Zomato's expansion into the broader lifestyle services sector, including dining, movies, sports ticketing, live performances,...

NCLT Approves Slice-North East Small Finance Bank Merger

The National Company Law Tribunal (NCLT) has approved the merger of Slice, a leading fintech company in India, with North East Small Finance Bank (NESFB). This merger, sanctioned by the NCLT's Guwahati bench, marks a significant step towards enhancing financial...

NPCI Launches ‘UPI Circle’ for Secure Payments Among Trusted Users

The National Payments Corporation of India (NPCI) has unveiled a new feature called 'UPI Circle' on the Unified Payments Interface (UPI) platform, allowing primary UPI account holders to securely delegate payment responsibilities to trusted secondary users. This feature aims to...

NCLT Approves Slice and North East Small Finance Bank Merger

Fintech company Slice has received approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank. The Guwahati bench of the NCLT has sanctioned the scheme of arrangement and amalgamation involving several entities, including...

L&T Finance Achieves NBFC-ICC Status from RBI

L&T Finance Ltd. has transitioned from an NBFC-Core Investment Company (NBFC-CIC) to a Non-Banking Financial Company (Investment and Credit Company) (NBFC-ICC) following the merger of its wholly-owned subsidiaries, including L&T Finance, L&T Infra Credit Ltd., and L&T Mutual Fund Trustee...

BHEL Wins 1,600 MW Thermal Power Project from DVC

State-owned Bharat Heavy Electricals Ltd (BHEL) has been awarded a significant contract by Damodar Valley Corporation (DVC) to set up a 1,600 MW thermal power project. This project, known as the Koderma Supercritical Thermal Power Project (STPP), will be implemented...

India’s Industrial Production Growth Declines to 4.2% in June 2024

India’s industrial production, as measured by the Index of Industrial Production (IIP), grew by 4.2% in June 2024, marking the slowest growth in five months. This slowdown was driven by a deceleration in government capital expenditure and weak rural demand,...