On February 22, the Reserve Bank of India (RBI) announced that it will conduct a 13-day variable rate repo auction (VRR) of Rs 1 lakh crore on February 23. The auction is scheduled to take place between 10:30 am and 11:00 am, with the reversal of these funds set for March 7. “In light of […]
On February 22, state-owned lender Bank of Baroda announced that it successfully raised Rs 2,500 crore through Basel III Compliant Tier II Bonds at a coupon rate of 7.57 percent. The bank received an overwhelming response, with a total of 83 bids amounting to Rs 6,237 crore against the base issue size of Rs 1,000 […]
Bandhan Bank has recruited Rajeev Mantri, a seasoned banker with more than 25 years of experience in India, Singapore, and the UAE, as its Chief Financial Officer. Mantri will also serve as a key managerial personnel at the Kolkata-based private lender. During its meeting on Thursday, the Bandhan board approved Mantri’s appointment as CFO and […]
Indian Farmers Fertiliser Cooperative Ltd (IFFCO), a leading player in the fertiliser industry, has retained its position as the top cooperative among the top 300 cooperatives globally, according to a statement released on Thursday. The ranking is determined by the ratio of turnover to Gross Domestic Product (GDP) per capita, highlighting IFFCO’s significant contribution to […]
Explurger, the travel-centric social media platform co-founded by actor-entrepreneur Sonu Sood, secured a funding of Rs 37.3 crore from global technology company Affle in a Series A funding round on February 22. While Affle is disclosed as a major investor, the names of other participants in the funding round remain undisclosed by the startup. The […]
Infrastructure investment trust Bharat Highways InvIT revealed its plans to initiate its initial public offering (IPO) worth Rs 2,500 crore on February 28. The IPO, marking the InvIT’s debut in the public market, will run until March 1, with a price range of Rs 98-100 per unit, as disclosed by Bharat Highways InvIT in an […]
Dr. Samir Shah, a prominent media executive born in India, has been confirmed as the new BBC chairman, following approval by King Charles III. Shah, with over 40 years of experience in UK broadcasting, was selected as the government’s preferred candidate in December. His appointment underwent scrutiny by cross-party MPs before being confirmed for the […]
On February 22, Food and Public Distribution Secretary Sanjeev Chopra announced that sugar mills would now have the opportunity to sell Potash Derived from Molasses (PDM) to fertilizer companies, presenting an additional revenue stream for them. He stated that the price for selling PDM to fertilizer companies has been set at Rs 4,263 per tonne […]
As monsoon season approaches, the Electric Two-Wheeler (E2W) industry is already experiencing a downpour of discounts. Following price cuts by industry players like Ola Electric, Ather Energy, and Okaya EV, another Electric Vehicle (EV) startup, Bounce Infinity, has made one of its e-scooters more affordable by slashing its price by 21 percent. Backed by Sequoia […]
Aditya Birla Group’s recently launched paints venture, Birla Opus, anticipates achieving a high-single-digit market share by the end of FY25, aiming to secure the second position in the decorative paints market, according to the group’s Director, Himanshu Kapania, speaking at a post-launch media conference on February 22. These statements come amidst industry optimism regarding the […]