The Indian stock market experienced continued losses in the shortened week ending January 25. Factors contributing to the downturn included mixed corporate earnings, potential delays in the US Fed rate cut, heightened tensions in the Middle East, and persistent selling by Foreign Institutional Investors (FIIs). In the sectoral breakdown, the Nifty Media index witnessed a […]
Ride-hailing company Ola Mobility is set to roll out 10,000 electric two-wheelers in three cities within the next two months, with plans to expand the service nationwide by the end of the year. The announcement comes following the launch of Ola’s e-bike service in Delhi and Hyderabad, following a pilot project initiated in Bangalore in […]
The government has decided to reduce the capital support provided to state-owned oil marketing companies by half. Originally intended to enhance investments in energy transition projects, the support was reportedly designed to compensate three fuel retailers that incurred substantial losses in 2022 when they maintained retail petrol and diesel prices despite a surge in crude […]
In the context of the government contemplating amendments to the Insolvency and Bankruptcy Code (IBC) to provide relief to homebuyers, experts are suggesting similar adjustments to the Prevention of Money Laundering Act (PMLA). The Insolvency and Bankruptcy Board of India (IBBI) has recommended that the Committee of Creditors (CoC) should seek distinct resolution plans for […]
Artificial Intelligence (AI) Startup Krutrim, founded by Ola Chairman Bhavish Aggarwal, has secured $50 million in funding at a valuation of $1 billion. Matrix Partners India led the investment round, marking Krutrim as the first AI unicorn. The funds will be utilized to accelerate Krutrim’s mission of transforming the AI landscape and expanding its global […]
The Indian government is contemplating a move to permit cooperatives in animal husbandry, dairying, fish, and poultry to directly borrow from banks beyond just the National Bank for Agriculture and Rural Development (Nabard). This proposed action involves merging two funds, the Animal Husbandry Infrastructure Development Fund (AHIDF) and Dairy Processing and Infrastructure Development Fund (DIDF), […]
Borrowing from the Federal Reserve’s Bank Term Funding Program (BTFP), an emergency lending initiative, surged to a record high of $167.8 billion, marking a significant increase of $6.3 billion in the week leading up to January 24. The BTFP had experienced growing demand, primarily fueled by its interest rate falling below the rate institutions could […]
India’s foreign exchange reserves witnessed a decline of $2.79 billion, bringing the total to $616.14 billion as of January 19, according to recent data released by the Reserve Bank of India (RBI). This reduction in reserves is notable and calls for an examination of the contributing factors. A detailed breakdown of the components reveals that […]
The State Bank of India (SBI) has removed the ‘fraud’ designation from Religare Finvest Limited (RFL) following a directive from the Delhi High Court. RFL, a wholly owned subsidiary of Religare Enterprises Limited, faced financial losses since 2017, accumulating a total loss of Rs 2,270 crore until March 2022. The Reserve Bank of India (RBI) […]
The collapse of the planned $10-billion merger with Sony’s unit has intensified the challenges faced by Zee Entertainment, one of India’s leading TV networks. The pressure is now on Zee to explore new partnerships or shift focus to areas like digital entertainment for a revival. The proposed Zee-Sony India merger aimed to create a media […]