Financial Software and Systems (FSS), a Chennai-based payments technology company, has announced that it is expanding its footprint to strengthen digital payment capabilities in Saudi Arabia.
This amount is significant as OEMs currently have a capex of around Rs 25,000 to Rs 30,000 crore per year in terms of enhancing their capacity for model launches and upgradation of existing models, said Brickworks Analytics (BWA) research.
PSU miner Coal India (CIL) will increase prices of thermal coal for both regulated and non-regulated sectors across grades by Rs 10 per tonne effective from December 1.
The banking sector’s non-performing assets (NPAs) will shoot up to 10-11% of gross loans as on March 31, 2022, from 8% on June 30, 2020, ratings firm S&P Global said in a report on Tuesday.
Fintech firm Cashfree has raised $35.3 million in series B funding led by growth stage financial services investor Apis Growth Fund II. Existing investor Y Combinator also participated in the funding round.
Exports will continue to play a critical role in the revival and growth of Indian economy and e-commerce exports help lower the entry barrier for Indian MSMEs to build and scale their exports business, Kamra said.
Credit and Finance for MSMEs: While 25 ministries and 79 CPSEs had bought goods worth Rs 2,346.82 crore from MSMEs in May, the number of borrowers also went up to 26 ministries, and 100 CPSEs purchasing Rs 5,096.53 crore products and services from MSMEs in October.
Department of Telecom Member (Technology) K Ramchand said all technologies including satellite communication will be leveraged for providing broadband to all citizens.
The incorporation of SHG members as BC Sakhis helps in ensuring financial inclusion, timely capitalization, digitalization of SHG transactions, and overall development of the community.
Credit and Finance for MSMEs: The recommendations come days after the government had announced an extension to its Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) from October 31, 2020, to November 30 and further till March 31, 2021, to offer collateral-free credit support to Covid-hit MSMEs.
The Maharashtra government's decision to make coronavirus negative report mandatory for those entering the state from four certain states is expected to impact the domestic travel demand further, ratings agency Icra said.
Edible oil major Adani Wilmar on Tuesday said its annual revenue is more than Rs 30,000 crore and it will continue to grow with planned capacity expansion in cooking oil, food and personal care businesses.
Callers will soon be required to add '0' prefix for making calls from landlines to mobile phones in the country, with the telecom department asking telcos to make necessary arrangements by January 1 to implement the new system.
The International Air Transport Association (IATA), which in June had forecast $100 billion in losses for the two-year period, said it now projects a $118.5 billion deficit this year alone, and a further $38.7 billion for 2021.