RBI fines HSBC Ltd for violating norms
Mumbai, May 29 - The Reserve Bank of India (RBI) has imposed a penalty of Rs 36.38 lakh on HSBC Limited for violation of directions on reporting requirements under the Liberalised Remittance Scheme of FEMA.
EET Retail continues to deliver on ambitious expansion plans
Stanlow, May 29 - EET Retail, the retail division of EET Fuels, has reopened two new service stations recently, with more expected to be opened throughout the year ahead.
CCMB, Aganitha to apply Generative AI for therapeutic design, research
Hyderabad, May 29 - The Centre for Cellular & Molecular Biology (CCMB) and Aganitha, a new generation 'in silico' solutions provider, signed a framework agreement to apply Generative Artificial Intelligence (AI) solutions for designing novel therapeutics and research tools addressing needs in multiple
D2C shipments market in India set to reach $2.7 bn by 2028: Report
New Delhi, May 29 - The D2C (direct-to-consumer) market in India is set to hit $2.2 to 2.7 billion by 2028, growing at 35-40 per cent (year-on-year) from 2023 to 2028, a new report said on Wednesday.
Axis Bank partners with Mastercard to launch NFC Soundbox
New Delhi, May 29 - Axis Bank on Wednesday said that it partnered with Mastercard to launch NFC Soundbox. The new soundbox will act as an all-in-one solution that will allow the users to accept Bharat QR, UPI, Tap & Pay and Tap
Menstrual hygiene management is need of the hour: ASSOCHAM CSR Council Chairperson
New Delhi, May 29 - Anil Rajput, Chairperson, ASSOCHAM National CSR Council, addressed the gathering at the Menstrual Hygiene Management Conclave & Awards held in New Delhi on the occasion of Menstrual Hygiene Day, 2024.
SEBI slaps Rs 5 lakh fine on AGI Greenpac for not disclosing accurate info to shareholders
New Delhi, May 29 - Markets regulator Securities and Exchange Board of India (SEBI) has slapped a Rs 5 lakh penalty on packaging products company AGI Greenpac for "failure to provide accurate, adequate, and explicit disclosure resulting in misrepresentation to the stock exchanges".
Over 30 lakh styles, 8,800 brands and 20 million expected visitors: Myntra EORS-20 live from May 31
New Delhi, May 29 - Celebrating a decade of revolutionising fashion through its marquee event, Myntra, one of India's leading fashion, beauty and lifestyle destinations, on Wednesday announced the 20th edition of its flagship fashion fiesta, the EORS (End of Reason Sale).
FIIs offload over Rs 24,000 crore in Indian equities in May
Mumbai, May 29 - Foreign institutional investors (FIIs) have turned aggressive sellers in Indian equity markets due to the outperformance of the Hong Kong index Hang Seng.
Rajeev Chandrasekhar welcomes US giant UPS to come and manufacture in India
New Delhi, May 29 - Union Minister Rajeev Chandrasekhar on Wednesday welcomed American major United Parcel Service (UPS) for its plans to manufacture tags used in tracking packages in the country.
Razorpay POS launches ‘Q-Zap’ to enable faster checkouts, zero queues
New Delhi, May 29 - Razorpay POS, the offline payments arm of the fintech major, on Wednesday launched 'Q-Zap', a payment solution for retailers, designed to enable faster checkouts and zero queues.
EV-maker Euler Motors raises Rs 200 cr to expand its operations to over 40 cities
New Delhi, May 29 - Electric Vehicle (EV) manufacturer Euler Motors on Wednesday said that it raised an additional Rs 200 crore to close its Series C funding round, bringing the total funding raised in this round to Rs 570 crore.
17 teams emerge as winners in ‘Build for Bharat’ initiative by ONDC, others
Bengaluru, May 29 - Seventeen teams emerged as winners in the 'Build for Bharat' initiative, launched by the government's Open Network for Digital Commerce (ONDC), in collaboration with Startup India, Google Cloud India, Antler in India, Protean and Paytm, it was announced on
Gautam Adani meets Japanese envoy, says his support for India ‘truly inspiring’
Ahmedabad, May 29 - Gautam Adani, Chairman of the Adani Group, said on Wednesday that he met Hiroshi Suzuki, Ambassador of Japan to India, adding that the envoy's appreciation for India's culture and his tremendous support for the country are "truly inspiring".
S&P Global upgrades India’s outlook to positive from stable amid robust economic growth
New Delhi, May 29 - Global rating agency S&P Global on Wednesday revised India's outlook from stable to positive on Wednesday, as the country continues to excel in long-term economic growth amid political stability.
RBI warns ARCs over evergreening distressed assets
Mumbai, May 29 - The RBI has found several instances of Asset Reconstruction Companies, which have been set up to recover NPAs of banks, not fulfilling their role but instead using innovative ways to structure transactions in order to circumvent regulations.
Robotics firm DiFACTO raises Rs 40 cr from Stakeboat Capital
New Delhi, May 29 - Robotics and automation solutions provider DiFACTO on Wednesday said it secured Rs 40 crore from private equity firm Stakeboat Capital in its Series A round.
Pluckk clocks Rs 100 cr ARR, aims to double revenue in 12 months
Mumbai, May 29 - Pluckk, a pioneering digital lifestyle-oriented fresh food brand, has concluded FY24 with an Annualised Revenue Runrate (ARR) of Rs 100 crore.
Fintech startup BharatX acquires Zenifi to enter medical lending market
New Delhi, May 29 - Y-Combinator-backed BNPL fintech startup, BharatX on Wednesday announced that it has acquired healthcare finance startup Zenifi to enter the medical lending segment.
Muthoot Pappachan Group announces Shah Rukh Khan as new brand ambassador
New Delhi, May 29 - Muthoot Pappachan Group (MPG), a 137-year-old leading business conglomerate in India, popularly known as Muthoot Blue, on Wednesday announced Shah Rukh Khan as its brand ambassador.