In a landmark move to bolster India’s aviation and defence sectors, Adani Defence Systems & Technologies Ltd (ADSTL), a wholly-owned subsidiary of Adani Enterprises, has announced its acquisition of an 85.8% stake in Air Works India (Engineering) Pvt Ltd. The acquisition, valued at ₹400 crore, marks a pivotal step in Adani Group’s vision to enhance … Read more
The Reserve Bank of India (RBI) has taken a significant step to support small and marginal farmers by raising the collateral-free loan limit from ₹1.6 lakh to ₹2 lakh. This change, effective from January 1, 2024, is aimed at easing financial pressures on farmers, particularly amid rising agricultural costs. What Does the New Loan Limit … Read more
TransUnion CIBIL, one of India’s leading information and insights companies, has appointed Bhavesh Jain as its new Managing Director (MD) and Chief Executive Officer (CEO). Jain succeeds Rajesh Kumar, who resigned after a successful five-year tenure. Jain’s appointment highlights the company’s commitment to driving financial inclusion and digital transformation in India. Leadership Transition at TransUnion … Read more
In a significant corporate development, Coca-Cola has sold a 40% stake in its Indian bottling arm, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to Jubilant Bhartia Group. This move aligns with Coca-Cola’s global asset-light strategy. Key Details of the Deal Impact on Coca-Cola and India Remarks by Leadership Sanket Ray, Coca-Cola India’s President, welcomed Jubilant Bhartia … Read more
Elon Musk has made history by becoming the first person in the world with a net worth surpassing $400 billion (approximately ₹33,938 crores), according to the Bloomberg Billionaires Index. This extraordinary milestone comes after a major insider share sale at his aerospace company, SpaceX, boosting his wealth by about $50 billion. Elon Musk’s Wealth Surge: … Read more
Yes Bank announced the appointment of Manish Jain as its Executive Director (ED) for a term of three years, starting December 11, 2024. This decision has been approved by the Reserve Bank of India (RBI). Professional Background Manish Jain joined Yes Bank in 2023 as the Country Head of the Wholesale Banking Group. He brings … Read more
Foreign Direct Investment (FDI) inflows into India have crossed the remarkable $1 trillion milestone, covering the period from April 2000 to September 2024. This achievement solidifies India’s position as a leading global investment destination, showcasing its robust economy and favorable business environment. Let’s explore this milestone and its significance for India’s growth trajectory. Key Highlights … Read more
In a major stride toward combating financial fraud, the Reserve Bank of India (RBI) has introduced MuleHunter.AI, an advanced AI-driven tool developed by its Innovation Hub (RBIH). Designed to identify mule bank accounts used in illicit financial activities, this innovative technology aims to fortify India’s banking system against growing cybercrime threats. What Are Mule Accounts? … Read more
The Reserve Bank of India (RBI) has unveiled the Secured Overnight Rupee Rate (SORR) as a new benchmark for the interest rate derivatives market. This significant move aligns with global best practices, promising greater transparency and reliability in India’s financial markets. What is SORR? The Secured Overnight Rupee Rate (SORR) is a benchmark rate based … Read more
The Central Bank of Sri Lanka (CBSL) has taken a landmark step in monetary policy by introducing the Overnight Policy Rate (OPR) as its primary policy instrument. This move, effective 27 November 2024, aims to enhance the efficiency of monetary transmission, stimulate economic activity, and guide inflation towards a 5% target over the medium term. … Read more
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