Indraprastha Gas Limited (IGL), the leading city gas operator in the country, is gearing up to establish 19 compressed biogas plants across four states, marking a significant expansion beyond its natural gas operations towards cleaner energy sources. The company has entered into Memorandum of Understanding (MoU) agreements with two technology partners to develop these compressed […]
Reserve Bank of India Governor Shaktikanta Das revealed that India’s foreign exchange reserves reached $622.5 billion for the week ending on February 2, marking a slight increase from the previous week’s figure of $616.73 billion, as reported by the RBI. Notably, in October 2021, the country’s forex reserves had surged to an all-time high of […]
The Reserve Bank of India’s (RBI) Monetary Policy Committee, led by Governor Shaktikanta Das, has projected a 7% growth rate for the Indian economy in the fiscal year 2024-25, as announced on Thursday. This forecast accompanies the decision to maintain the benchmark lending rates at 6.5% for the sixth consecutive time. The committee’s stance remains […]
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) opted to maintain the repo rate at 6.5% for the sixth consecutive time, signaling a commitment to a neutral stance and a gradual withdrawal of accommodation. This stance allows the RBI flexibility in managing liquidity, enabling adjustments to financial conditions by either tightening […]
Petronet LNG, India’s leading liquefied natural gas (LNG) importer, is set to ink an agreement on Tuesday with Qatar to extend its long-term LNG imports beyond 2028, according to sources familiar with the matter. The current deal, expiring in 2028, involves Petronet LNG importing 7.5 million metric tons of LNG annually from Qatar. The pricing […]
Byju’s secured a legal victory as a Bengaluru civil court rejected a plea by lenders challenging Manipal Group Chairman Ranjan Pai’s acquisition of a 40% stake in Byju’s subsidiary Aakash Institute. The lenders of Byju’s $1.2 billion term loan sought an injunction on Pai’s conversion of a loan of approximately $250-$300 million into equity in […]
The income tax authorities are scrutinizing online insurance aggregator PB Fintech, the parent company of Policybazaar and Paisabazaar, for alleged regulatory lapses and KYC non-compliance. A senior government official revealed that a survey has been conducted into the company, highlighting concerns about regulatory non-compliance with know your customer (KYC) norms. In response to the survey […]
Real estate giant DLF is venturing into the Mumbai market with its inaugural project in Andheri, and a company official has indicated that the apartments in this development are likely to be priced between Rs 5.5 crore and Rs 7.5 crore. The apartments, featuring three bedrooms and three-plus bedrooms, will have sizes yet to be […]
A coalition of startup founders has penned a letter to the Prime Minister, Finance Minister, and the Reserve Bank of India (RBI), urging a reassessment of the regulatory directive instructing Paytm Payments Bank (PPBL) to discontinue major banking services after February 29. Endorsed by a dozen entrepreneurs, including notable names such as Yashish Dahiya of […]
The growth in India’s services sector reached a six-month high in January, driven by accelerated expansion in new business fueled by robust demand from both domestic and international clients, according to a monthly survey. The HSBC India Services PMI Business Activity Index rose to 61.8 in January, up from 59 in December, marking the sharpest […]