Industry

NBFCs request finmin to include education sector in ECLGS 3.0

The Finance Industry Development Council (FIDC) told the government, in a letter, that loans to educational institutions across the country exceed Rs 10,000 crore and, in the absence of support, lende

The scheme allows funding to these sectors up to 40% of total credit outstanding as on February 29, 2020, to the extent of Rs 500 crore.

Power industry seeks priority in vaccination

“One of our members has reported 75 positive cases in their Chattisgarh plant recently,” the letter from APP, reviewed by FE, pointed. The Maharashtra government has already categorised all electr

Power consumption in the country fell 8.5% y-o-y to 625.6 BU in the first half of FY21 as industrial and commercial activities remained muted amid lockdowns.

As more states impose curbs, e-commerce companies brace for operational challenges

Although they are better equipped to deal with the crisis this year than the last, a varying set of regulations mandated by individual states have made the task arduous.

Small businesses, which sell a significant share of these products, will be impacted due to the cancellations.

Northern Arc raises Rs 40-cr debt from KMB to support micro entrepreneurs

The deal is the latest in a series of sanctions received by Northern Arc from development finance institutions (DFIs), as recognition for its role in enabling debt for under-banked retail households,

Funds raised so far have been instrumental in enabling Northern Arc to provide finance to micro-loan borrowers and SMEs in India, who were severely impacted by the pandemic.

Delhi lockdown: Flipkart, Amazon suspend orders for non-essential goods following government order

Delhi is notably the second big market after Maharashtra to impose a ban on e-commerce platforms from shipping non-essential items to consumers.

amazon, Delhi lockdown, Flipkart, COVID-19

Paytm, India’s most-valued startup, expands ESOP scheme to USD 604 million

To attract and retain talented professionals, Paytm had amended certain aspects of its ESOP policy last year.

Paytm, Paytm news, Paytm latest

After blockchain test in space, JPMorgan offers solution to improve global funds transfers between banks

JPMorgan is working with 12 Taiwan banks for testing the use of blockchain technology to improve money transfers between banking institutions globally.

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RBI sets up panel to review working of asset reconstruction companies

The six-member committee will be headed by Sudarshan Sen, former Executive Director, Reserve Bank of India.

RBi news

Delhi traders welcome 6-day lockdown — ‘much-needed step’ to contain spread of coronavirus

"The lockdown imposed by the Delhi government in consultation with the Lieutenant Governor is welcome. It was a much-needed step to break the chain of infection, said Praveen Khandelwal, secretary gen

Mandatory hallmarking rule will disrupt the jewellery business affecting livelihood of millions, says jewellery association

Ease of Doing Business for MSMEs: Gems and jewellery industry body GJC said that only 33% of India’s districts have Assaying & Hallmarking (A&H) centres that testify the purity of the gold jeweller

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Nocca Robotics sees 20-25 times jump in demand for Covid ventilators, seeks Centre’s help

"Till February, we were supplying 70 (ventilators). Now we have been approached for around 1,500 ventilators but we have not accepted the orders. Our infrastructure can support production of 60-70 ven

He said that there are certain components that the company procures from the US and Europe and even component suppliers were not ready for this kind of demand.

GJC seeks postponement of mandatory hallmarking to June 2022 due to COVID, lack of infra

In a letter written to the Consumer Affairs, Food and Public Distribution Ministry, GJC pitched for extending the deadline to June 2022 instead of June 2021 due to the COVID-19 situation. Also, out of

Govt spent nearly 50% less to buy Covid supplies from MSMEs before second wave via Amazon of govt buying

Ease of Doing Business for MSMEs: The decline in government spending followed the drop in daily new Covid cases in the country from as high as 96,000 as of September 17, 2020, to around 9,000 as of Fe

All the contractors in Spiti valley too have been asked to ensure Covid-19 tests for their labourers, he added.

Bajaj Consumer posts over two-fold jump in Q4 profit at Rs 55 cr

Total expenses of Bajaj Consumer Care, which operates mainly in the beauty care category, were at Rs 189.17 crore as against Rs 158.69 crore, up 19.21 per cent.

Its revenue from sale of goods was higher at Rs 244.86 crore as against Rs 172 crore in the year-ago period.

WhatsApp says it fixed two outdated software bugs following CERT-In advisory

Instant messaging app WhatsApp on Monday said it has addressed two bugs that existed on its outdated software and that it had no reason to believe that "these vulnerabilities were ever abused".

WhatsApp

ESAF Small Finance Bank raises Rs 162 cr via preferential allotment

Small finance lender ESAF Small Finance Bank on Monday said it has raised Rs 162 crore as equity through preferential allotment of shares.

SC stays proceedings before Delhi HC in Amazon Future case

The Supreme Court Monday stayed the ongoing proceedings before the Delhi High Court in the case related to the amalgamation of Future Retail Ltd (FRL) with Reliance Retail.

Amazon

1,000 vacancies for nearly 5 lakh jobseekers: Modi govt’s MSME job portal seems struggling to take off

Skill, Labour, Talent for MSMEs: The total recruiters registered on the platform were 6,080 while 28,746 candidates were placed till April since the portal’s launch, at a rate of around 845 placemen

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BIF seeks reversal of hike in import duties on components, PCBAs; writes to DoT, finance ministry

Industry body Broadband India Forum (BIF) has approached the telecom department and the finance ministry seeking reversal of hike in import duties on components and PCBAs effected in recent Budget, sa

spectrum

Indian-origin billionaire brothers buy UK fast food chain Leon

Indian-origin billionaire brothers Mohsin and Zuber Issa have acquired a popular British fast food chain, Leon, as part of what they described as their goal to grow their foodservice operations in Bri

Delhi lockdown: Complete closure not a solution, says RAI

With the Delhi government announcing a six-day lockdown, Retailers Association of India (RAI) on Monday said a complete closure is not a solution, while calling for a balance between lives and livelih

Northern Arc raises Rs 40 cr debt from Kotak Mahindra Bank to help small businesses

To support small businesses and households hit by the pandemic, digital debt platform Northern Arc Capital has raised Rs 40 crore debt from Kotak Mahindra Bank

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Everything to know about WhatsApp Pink, a new virus that can potentially give hackers complete control over your phone

Not just Coronavirus, there's another virus that Indians must be wary of. Even as COVID-19 continues to wreck havoc in the real world, there is another virus on the prowl, called WhatsApp Pink, that c

Covid carnage: Micro retailers see 40% monthly business loss amid fresh restrictions to curb pandemic

Ease of Doing Business for MSMEs: Ever since the second Covid wave struck India post-mid-February and gathered pace last month, state governments have been scrambling with measures to curb the rise in

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SBM bets on tie-ups to grow India ops; not to add branches

SBM Bank India wants to grow its business through granular liabilities collection and booking fees by aiding in various banking transactions, its managing director and chief executive Sidharth Rath to

SRM Bank India, DBS Bank India, new branches of SRM bank,private sector lender Lakshmi Vilas Bank, retail business

RIL’s Mukesh Ambani celebrates his 64th birthday today; 5 interesting facts about Reliance chief

Reliance Industries Ltd (RIL) Chairman Mukesh Ambani is celebrating his 64th birthday today.

Mukesh Ambani, RIL, Reliance Industries

Razorpay raises $160 mn funding from Sequoia Capital, GIC, others; Valuation triples to $3 bn

Razorpay on Monday said it has raised USD 160 million (about Rs 1,192.6 crore) in funding from Sequoia Capital, GIC and others with the valuation of the payment solutions provider tripling to USD 3 bi

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