Industry

RBI slaps Rs 1 crore fine on Indian Bank for violating cyber security norms

The RBI has imposed, by an order dated November 30, 2018, a monetary penalty of Rs 10 million on Indian Bank for contravention of Circular on Cyber Security Framework in banks, the central bank said i

Thousands of jobs created due to Modi’s Ayushman Bharat; healthcare jobs surge in November: Naukri

While the healthcare industry registered a remarkable year-on-year increase of 34%, banking and financial services sector saw a decline of 23% in hiring activity during the month, according to The Nau

Zomato delivery boy eats into customers’ orders; company finds solution to avoid such cases

The delivery boy wearing Zomato t-shirt is seen replacing each box after resealing them, back into the delivery bag. The company claims the video to be from Madurai, Tamil Nadu.

Urjit Patel’s resignation signals dangerous trend: AIBEA

Although the All India Bank Employees' Association (AIBEA) had earlier demanded RBI Governor Urjit Patel's resignation, his calling it quits on Monday has left the banking body shocked and disturbed a

Google CEO Sundar Pichai defends company’s ‘integrity’, denies any ‘political bias’

The chief executive officer of Alphabet Inc's Google on Monday defended the integrity of the company's products a day ahead of a congressional hearing where he is expected to face tough questions from

Nearly 40% Indian firms unaware of object data storage: Survey

As more and more Indian firms aim to go digital, 39 per cent of those are still unaware of object-based data storage that offers cost-effective and flexible modern data management, a new survey said o

iPhone sales banned in China: Apple to appeal against the ruling, accuses Qualcomm of playing dirty tricks

Apple accused Qualcomm of playing dirty tricks, including asserting a patent that had already been invalidated by international courts, and other patents that it had never before used.

Growth skids: Passenger vehicle sales record fourth straight monthly drop

Consumer sentiments remained low owing to high-interest rates & rising fuel prices, leading to a muted sales growth during the month

Santro eats into Maruti’s mini car market share

Compared with the period before Santro’s launch on October 23, Hyundai’s market share went up from 11.58% in September (5,309 units) to 20.30% in November (9,010 units).

NTPC close to buying out UP government’s 50 per cent equity in Meja power project

The Meja Urja Nigam (MUNPL) is a 50:50 joint venture between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam in Allahabad

Essar Steel case: Lenders ask NCLT to dismiss plea to consider Ruias’ offer

The bench will continue to hear arguments on December 13. Meanwhile, operational creditors urged the tribunal to conduct day-to-day hearings on the matter

SC seeks response from govt on RCom’s appeals against TRAI’s prepaid balance directives

The Supreme Court on Monday sought response from the Centre and telecom regulator Trai on appeals by Anil Ambani-led Reliance Communications (RCom) challenging Trai’s directions that asked the firm

Payment solutions firm Razorpay ventures into SME lending

The company has also announced the launch of The X Club, a subset of the Razorpay X.

Jaypee insolvency case: Homebuyers seek secured financial creditors status

Homebuyers are considered financial creditors under the amended IBC and their views will be considered while deciding the resolution plan of a company

Meat delivery firm Licious raises $25 million in Series-D round

Licious was founded in 2015 by Abhay Hanjura and Vivek Gupta. The firm operates on a farm-to-fork business model where it owns the entire back-end supply chain

SBI hikes MCLR by 5bps to 8.55 per cent across tenures

The move comes after HDFC Bank on Friday hiked its short-term MCLR by 5 bps to 8.40% 8.45% and 8.55% for the one-, three- and six-month tenures, respectively.

Promotor stake dilution: Kotak bank moves Bombay HC against decision

As per the central bank's rules, the bank must reduce its promoter shareholding to 20% by December 31, 2018 and 15% by March 31, 2020.

Insolvency proceedings: PNB to put Jayaswal Neco exposure on sale

PNB has also put on sale 24 other bad-loan accounts worth an aggregate Rs 1,779 crore. Twelve of these are being offered only on a full-cash basis, with the rest is being sold through a mix of cash an

Plastic makers pull up Tamil Nadu govt over ban, may consider legal option

The state government in June this year issued an order, banning usage of single use plastics from January 1 next year.

Uncertainty to determine fate of steel industry for 2019

During the first 8 months of the current year, the total imports of finished steel by India have gone down by only 2.3% compared to the previous year, while exports have fallen by around 35%.

Fall in North America orders a cause of concern for Bharat Forge

Decline in North America Class 8 truck orders in November the first in two years; expensive valuation; ‘Neutral’ retained

TEECL balance sheet offers comfort in hard times

EPC segment growth and margin concerns warrant a cautious stance; earnings revised; TP cut to `231

Hope for smooth transition with approach acceptable to all: India Inc on RBI Governor’s resignation

We are looking forward to a smooth transition which leads to good results in terms of an approach that is acceptable to all and good for the economy."

The only second Indian startup to be acquired by Google; check what it does

Where is my Train allow users to check the train status without the internet or GPS access. The startup uses information from cell tower to get trains’ location.

VCs poured nearly $4 billion across 515 deals in Indian startups in 2018, highest since 2015

The fundraising momentum this year saw a steep rise to $2.3 billion raised by VCs across 22 funds from just $0.9 billion raised across 19 funds in 2017.

Lending startup CASHe crosses Rs 650-crore mark in loan disbursement

CASHe claims of reaching the mark in 33 months since its launch in 2016, with annual growth of more than 80% for unsecured loans.

Vijay Mallya loses! Big win for Modi as UK Court orders extradition of former liquor baron

Vijay Mallya’s extradition will now be referred to the UK Secretary of State. The absconding businessman now has 14 days to appeal the extradition order.

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