Business

Gurugram :  REC Limited, a Maharatna CPSE under Ministry of Power and a leading NBFC has received a ‘No Objection Certificate’ (NOC) from Reserve Bank of India (RBI) for setting up a subsidiary in Gujarat International Finance Tech-City (GIFT) in Gandhinagar, Gujarat. The decision to expand operations into GIFT, a burgeoning hub for financial services in India, comes as REC continues to diversify its portfolio and explore new avenues for growth. The proposed subsidiary will engage in a range of financial activities…

·         SACE’S FIRST JPY-DENOMINATED LOAN TRANSACTION IN INDIA ·         SACE’s FIRST GREEN LOAN TRANSACTION IN INDIA ·         PARTICIPATION FROM BANKS ACROSS ASIA, AMERICA AND EUROPE Gurugram – In a significant step towards sustainable development in India, REC Limited, a leader in the Indian power sector, has successfully availed a SACE-Covered Green Loan for JPY 60.536 Billion to finance Eligible Green Projects in India. This strategic investment reinforces REC’s commitment to foster sustainable growth, in alignment with the Company’s Green Finance Framework.   The green facility…

• Strategic partnership leverages Phi Commerce digital payment platform to streamline the payment collection process for the insurer’s premium collections. • Policyholders of the insurance company will experience a better quality of service with ease of transaction and one of the lowest transaction failures. Mumbai : India’s leading omnichannel payment solution provider Phi Commerce will manage payment solutions for Reliance Nippon Life Insurance Company (RNLICL) for streamlining the insurer’s payment processes, including premium collections, a company statement said. The arrangement…

Credit Card Rules: According to RBI, now credit card companies will have to allow you to change your billing cycle at least once. A credit card is a system in which every month, the purchases you make within a certain time frame are added up and then you are billed. To make everything run smoothly, you need to pay that bill before a specific date called the due date. This keeps your credit in good standing and helps you avoid…

New Delhi : E-commerce giant Amazon has pumped Rs 1,600 crore into its India arm, Amazon Seller Services, a regulatory filing by the company has shown. The investment comes as India’s e-commerce growth is expected to reach $200-230 billion by 2030, a steady 20-22 per cent rise. According to Amazon’s filing in the US, “The Board is hereby accorded for allotment of 1,66,00,00,000 (One hundred sixty six crore) equity shares of Rs 10 each aggregating to Rs 16,60,00,00,000 (One thousand…

Adani Ports & SEZ(APSEZ), one of the largest profit contributors for Adani Group has been given AAA rating by Care Ratings. This top assigned by credit-rating agencies signifies strongest level credit worthiness and the capacity to repay investors. This achievement also holds major significance for India’s private infrastructure sector, marking APSEZ as the first private infrastructure developer of its magnitude to get this recognition. Notably, Adani Energy Solution’s two transmission assets—WTGL(West Transmission Gujarat Limited) and Alipurdwar—have also been rated AAA…

Patanjali’s Divya Pharmacy has faced a recent setback as the Uttarakhand licensing authority suspended manufacturing licenses for 14 of its products. This action came in response to persistent complaints regarding misleading advertisements, which were found to violate both the Drugs and Magic Remedies (Objectionable Advertisements) Act and the Drugs and Cosmetic Act. Among the suspended products are Swasari Gold, Swasari Vati, Bronchom, Swasari Pravahi, and Swasari Avaleha. This move marks the latest development in an ongoing legal battle involving yoga…

The PSB has been declared as winner in three themes of EASE 5.0 reforms agenda Union bank of India, one of India’s leading public sector bank, has been declared as 2nd best bank in EASE 5.0 Reforms Index for FY 2022-23. Further, the Bank has been declared as winner in the following three themes of EASE 5.0 reforms agenda. Dr. Vivek Joshi, Hon’ble Secretary, Department of Financial Services, Ministry of Finance, felicitated the Bank at the citation ceremony organised by…

Hero MotoCorp inaugurated a new facility in Nepal, with its local partner, CG Motors. The new plant will have an annual capacity of 75,000 units. Hero MotoCorp has been present in Nepal since 2014 and now the company inaugurated its new assembly facility in Nawalparasi, with the aim of expanding its operations in the country rapidly. The new assembly facility will have a capacity of 75,000 units per annum and also focus on bringing in new investment and creating job…

New Delhi : The Reserve Bank of India has announced the auction for the sale of Government Securities worth Rs 32,000 crore. The auction is scheduled to take place on Friday and it aims to facilitate the sale (re-issue) of Government Securities through a multiple price-based method. The primary dealers can submit their bids electronically through the E-Kuber System between 09:00 A.M. and 09.30 A.M on Friday. “Underwriting Auction for sale of Government Securities for Rs32,000 crore on April 26,…