Business

CRED Secures In-Principle Approval for Payment Aggregator License

CRED, the Bengaluru-based fintech start-up, has recently obtained in-principle approval for a payment aggregator license, as reported by the Economic Times. This significant development allows CRED to broaden its services beyond its focus on reward-based credit card payments. With the...

RBI Penalizes Five Co-operative Banks with Rs 60.3 Lakh Fine

The Reserve Bank of India (RBI) has imposed penalties totaling Rs 60.3 lakh on five co-operative banks for contravening various regulatory norms. These penalties primarily stem from non-compliance with specific directives issued by the RBI, encompassing bans on loans and...

RBI Expands Gold Hedging Options for Residents Amidst Price Surge

In response to the soaring gold prices, expected to surpass $2700 per ounce this year amidst escalating geopolitical tensions in the Middle East, the Reserve Bank of India (RBI) announced a significant policy amendment. This move allows resident entities to...

Sany India Launch of its Fully Electric Dump Truck

In a groundbreaking move, Sany India, a leading manufacturer of mining and construction equipment, has launched the SKT105E Electric Dump Truck. This remarkable feat marks a significant milestone in the Indian mining industry, as the SKT105E becomes the first locally...

Apple and CleanMax Collaborate to Advance Renewable Energy in India

Apple has partnered with CleanMax to deploy 14.4 megawatts of rooftop solar installations across six industrial sites in India, aimed at reducing emissions associated with its operations in the country. Joint Venture Overview Apple and CleanMax have established a joint...

Adani Family’s Investment in Ambuja Cements: Strengthening Stake and Cementing Growth

The Adani family, led by Gautam Adani, has infused ₹8,339 crore into Ambuja Cements Ltd., increasing their stake to 70.3%. This investment, part of a larger strategy, aims to bolster Ambuja's growth trajectory and cement its position in the market....

Mahindra Susten’s ₹1,200 Crore Hybrid Renewable Energy Project in Maharashtra

Mahindra Susten, a subsidiary of the Mahindra Group, enters the hybrid renewable energy sector with a ₹1,200-Crore project in Maharashtra, combining 101 MW wind and 52 MW solar capacity. The project aims to generate 460 million kWh of clean energy...

Fitch Affirms SBI and Canara Bank Ratings at ‘BBB-‘

Fitch Ratings has upheld the long-term issuer default rating (IDR) of "BBB-" for both the State Bank of India (SBI) and Canara Bank. The agency also maintains a "stable" outlook for these state-run lenders. Despite variations in risk appetite and...

India’s Trade Performance in March 2024: A Comprehensive Analysis

In March 2024, India's goods exports surged to a 12-month high at $41.68 billion, marking a significant achievement despite a slight decrease of 0.67% compared to the previous year. Notably, the goods trade deficit narrowed to $15.6 billion, the lowest...

Adani Green Energy Builds World’s Largest Renewable Energy Park in Khavda, Gujarat

Adani Green Energy Limited, an Adani Group company, is building the world's largest renewable energy park in Khavda, Kutch district of Gujarat. The park is spread over 538 square kilometers, which is about five times larger than the total size...