Kotak Bank goes into damage-control mode after RBI ban
Mumbai, April 25 - The top management of Kotak Mahindra Bank has gone into damage-control mode after RBI barred the lender on Wednesday from taking new customers online and issuing fresh credit cards with immediate effect.
Will make India our global export hub: Hyundai Motor chief
New Delhi/Seoul, April 25 - The chief of Hyundai Motor Group recently visited India and laid out a vision to bolster its operations there to utilise the country as a key export hub for the South Korean automaker, the group said on Thursday.
RBI crackdown triggers crash in Kotak Bank shares
Mumbai, April 25 - Shares of Kotak Mahindra Bank crashed by as much as 12 per cent in morning trade on Thursday to Rs 1,620 on BSE as investors dumped the stock following the RBI crackdown on the lender.
Happiest Minds acquires Noida-based PureSoftware Technologies for Rs 779 crore
New Delhi, April 25 - IT company Happiest Minds Technologies, on Thursday, said it has acquired Noida-based PureSoftware Technologies for $94.5 million (Rs 779 crore).
Kotak Bank promoter donated electoral bonds worth Rs 60 cr, but RBI cracks down on lender to protect customers
New Delhi, April 24 - Infina Finance, one of the promoter group entities of Kotak Mahindra Bank which was barred by the RBI on Wednesday from onboarding new customers, had donated electoral bonds worth Rs 60 crore to the BJP.
Nvidia acquires GPU software provider Run:ai likely for $700 million
New Delhi, April 24 - Graphics chip giant Nvidia on Wednesday said it has acquired Run:ai, a Tel Aviv-based workload management and orchestration software provider.
SEBI probes 2 funds for shorting Adani stocks before Hindenburg
New Delhi, April 24 - Adani Group stocks remained steady on Wednesday after the Securities and Exchange Board of India (SEBI) initiated a probe against two foreign portfolio investors, including one accused of allegedly shorting stocks in Adani Group companies prior to a
Financial services platform Northern Arc secures $80 mn funding from IFC
New Delhi, April 24 - Financial services platform Northern Arc on Wednesday said that it secured $80 million in funding from the International Finance Corporation (IFC), a member of the World Bank Group.
7 per cent job surge for fresh graduates in India’s manufacturing sector: Report
New Delhi, April 24 - India's manufacturing industry's intent to hire fresh graduates has jumped to 48 per cent in the first half (January-June) of 2024, an increase of seven per cent from 41 per cent in July-December 2023, a new report showed
Axis Bank clocks net profit of Rs 7,130 crore for Jan-March quarter
Mumbai, April 24 - Axis Bank on Wednesday reported a net profit of Rs 7,130 crore for the January-March quarter of 2023-24 compared to a loss of Rs 5,762 crore in the same quarter last year after it acquired Citi Bank's consumer business
Qualcomm expands Snapdragon portfolio with new platform to power AI PCs
New Delhi, April 24 - Chip-maker Qualcomm on Wednesday expanded its Snapdragon X Series portfolio with a new platform to deliver better performance, longer battery life and on-device AI capabilities for more Windows PCs.
UK begins probe into AI partnerships by Microsoft, Amazon
London, April 24 - The UK's Competition and Markets Authority (CMA) on Wednesday launched a preliminary probe into partnerships between tech giants over artificial intelligence (AI), like Microsoft and Mistral AI, and Amazon and Anthropic.
RBI issues red alert on illegal entities in forex market
Mumbai, April 24 - The Reserve Bank of India (RBI) on Wednesday issued an alert against unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of exorbitant returns.
Indian IT services sector to see 2nd-consecutive year of muted revenue growth: Report
New Delhi, April 24 - The IT services sector in India is likely to see a second-successive year of muted revenue growth, at 5-7 per cent in FY25, amid continuing global macroeconomic headwinds, a report showed on Wednesday.
Ultraviolette launches e-motorcycle ‘F77 Mach 2’ at Rs 2.99 lakh
New Delhi, April 24 - Electric vehicle (EV) company Ultraviolette on Wednesday launched a new e-motorcycle -- the F77 Mach 2 -- at a starting price of Rs 2,99,000.
REC okays Rs 1,869 crore loan for Kiru hydro project in J&K
Gurugram, April 24 - REC Limited, a Maharatna public sector company and a leading NBFC, has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) for providing a term loan of Rs 1,869.26 crore.
HUL posts 6 pc fall in Q4 net profit at Rs 2,406 crore, declares dividend of Rs 24 per share
Mumbai, April 24 - Fast-moving consumer goods (FMCG) giant Hindustan Unilever Ltd (HUL) on Wednesday reported a 6 per cent decline in net profit to Rs 2,406 crore for the January-March quarter from Rs 2,552 crore in the same period of the previous
RBI bars Kotak Mahindra Bank from onboarding new customers online, issuing fresh credit cards
Mumbai, April 24 - The Reserve Bank of India (RBI) on Wednesday directed Kotak Mahindra Bank Limited to stop onboarding of new customers through its online and mobile banking with immediate effect and also barred the bank from issuing fresh credit cards.
Sweden jobless rate rises to 9.2 pc, highest in nine months
Stockholm, April 24 - The Swedish unemployment rate increased in March to the highest level in nine months, figures from Statistics Sweden showed on Wednesday
91 pc of Indian firms will use half or more data to train AI models in 2024: Report
New Delhi, April 24 - About 91 per cent of Indian companies will use half or more of their data to train artificial intelligence (AI) models in 2024, a new report said on Wednesday.