BUSINESS

13 Jul

Reliance Industries invests into 10,000 equity shares of RNESL

editor0 CommentsBUSINESS, Business, India

Reliance Industries Ltd said on Monday that it has invested Rs 1 lakh in cash in 10,000 equity shares of its newly incorporated subsidiary Reliance New Energy Solar Ltd (RNESL). RIL noted that RNESL is yet to commence its business operations. RNESL has been incorporated to undertake activities relating to solar energy, the company said in a regulatory filing. “It is hereby informed that the company has invested Rs 1,00,000 in cash in 10,000 equity shares of Rs 10 each of ‘Reliance New Energy Solar Ltd’ (RNESL), a newly incorporated wholly-owned subsidiary,” it said. The filing added that the investment…

13 Jul

Banks move NCLT to invoke personal guarantee of promoters

editor0 CommentsBusiness, BUSINESS, India

Several banks have started moving the National Company Law Tribunal (NCLT) to invoke the personal guarantees given by promoters of defaulting companies. According to banking sources, leading banks, including State Bank of India (SBI), Bank of Baroda (BOB), and Union Bank of India (UBI) have approached different benches of NCLT to invoke the personal guarantee of 17 big defaulters including Atul Punj of Punj Lloyd (Rs 3,000 crore), Sanjay Singal of Bhushan Power and Steel (Rs 47,150 crore), and Wadhawans of DHFL (Rs 79,000 crore). Sources says that banks have decided that for invoking the personal guarantees, only the lead…

13 Jul

KFC India extends medical supplies to hospitals

editor0 CommentsBUSINESS, Business, Covid19

Aiming to provide support to team members and communities in need through the ongoing Covid wave, KFC India strengthened its efforts. As part of its ‘KFC Care’ campaign, the brand has undertaken various relief initiatives. Supported by the Yum! Foundation, KFC Care pledges to provide medical supplies & essentials to hospitals, food relief kits and home care Covid kits to underprivileged families. To safeguard the safety and well-being of its team members, the brand has extended a Vaccination Drive for its team members across more than 480 KFC restaurants in the country. In association with partners as ResponseNet and Smile…

13 Jul

Northeast Launchpad is open to entrepreneurs

editor0 CommentsBusiness, BUSINESS

India's largest DIY e-commerce website builder, Instamojo launched Northeast Launchpad. It is a first-of-its-kind initiative to identify and support the growth of budding entrepreneurs from India’s North East region. Instamojo is a Do-It-Yourself (DIY) SaaS platform for MSMEs in India. The company provides online storefronts and online payment solutions to small, independent enterprises, MSMEs, and startups to run a successful online business. The online business planning event is aimed to give aspirants a real-world experience in order to fine-tune their business goals, along with mentoring sessions on raising funds, marketing, compliance and commercialization of products. The best business plan stands…

12 Jul

LIC IPO gets CCEA’s green signal

editor0 CommentsBusiness, BUSINESS, India

The Cabinet Committee of Economic Affairs (CCEA) has given in-principle approval to LIC’s initial public offering (IPO) while keeping the government’s plan alive. A top official source said that the CCEA, in its meeting on July 7, approved the reworked plan for IPO finalised by the Department of Investment and Public Asset Management (DIPAM), clearing several impediments for the country’s largest IPO. “We have also fixed the way for the offer and how investors should be roped into the insurer. With this, the road has been cleared for the IPO that, in any case, we were planning for FY22,” the…

12 Jul

India can become $15 tn economy in two decades: Adani

editor0 CommentsBUSINESS, Business, India

Gautam Adani has said that India can become a $15 trillion economy in the next two decades and emerge to be among the largest global markets, Adani Chairman said in Annual General Meeting (AGM) meet. Addressing the AGM of Adani Group, he noted that although there will be bumps along the road, the largest middle class that will ever exist, augmented by an increase in the working-age and consuming population share, will positively impact India’s growth. On the group achieving the $100 billion market cap, he said that the performance of the group’s listed entities propelled its portfolio to cross…

08 Jul

First Amazon Digital Kendra in Surat

editor0 CommentsBusiness, BUSINESS

The first Digital Kendra of Amazon India has been launched in India in Surat (Gujarat). Shri Vijay Rupani, Chief Minister of Gujarat inaugurated the first Amazon Digital Kendra in a virtual event along with Amit Agarwal, Senior VP and Country Head, Amazon India and Manish Tiwary, VP, Amazon India. Amazon Digital Kendras are resource centers that will provide micro small and medium enterprises (MSMEs) the opportunity to learn about benefits of eCommerce and avail a range of third party services such as shipping and logistics support, cataloging assistance, digital marketing services, GST and taxation support to kick start their journey…

07 Jul

Tide launches a new campaign – #TideforTime

editor0 CommentsBusiness, BUSINESS

The biggest laundry brand globally and the leading fabric care brand in India from P&G, Tide has launched their newest campaign #TideforTime with a new film. With this campaign, Tide is shining the spotlight on the story of many households across the country, where everyday tasks take up most of the hours, leaving little time for anything else. The new #TideforTime film has already garnered more than 3MM views. Tide is also showing the way by highlighting simple ways in which families can make time. With its Double Power, Tide can provide superior cleaning in the soak or machine itself,…

07 Jul

Indo-German Project – Her&Now

editor0 CommentsBusiness, BUSINESS

In partnership with the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India and on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is implementing the ongoing project ‘Economic Empowerment of Women Entrepreneurs and Start-ups by Women (Her&Now)’ in India. Aiming to identify and capitalize on the key sectors driving the women-led microenterprises in various geographical areas of India, and the top interventions that may be introduced to support and catalyse the ecosystem in these sectors and regions, GIZ’s Project Her&Now has come out with a detailed report…

06 Jul

PropTiger report: Real Insight (Residential) – Q2 2021

editor0 CommentsBusiness, BUSINESS

Real Insight (Residential) – April-June (Q2) 2021, a quarterly analysis of India’s 8 prime residential markets by leading online real estate company PropTiger.com shows that Home sales and new launches both declined in Kolkata during the April-June period of 2021 due to the impact of the second wave of the coronavirus pandemic. The cities included in PropTiger’s analysis include Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi NCR, Mumbai MMR and Pune. The sale of 1,253 homes during this period in Kolkata resulted in a 5% annual and 63% sequential decline in numbers, the report showed. Among India’ eight prime residential markets,…