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Tag: India

  • Deposits in bank accounts opened under Jan Dhan scheme cross Rs 1.5 trn

    Deposits in bank accounts opened under the Jan Dhan scheme, launched about seven and half years ago by the government, have crossed the Rs 1.5 lakh crore mark. As per the latest finance ministry data, the total balance in over 44.23 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was at Rs 1,50,939.36 crore at December end, […]

    January 10, 2022

  • Jharkhand announces incentives up to Rs 10cr for investment in tourism

    The Jharkhand government announced a slew of fiscal incentives for those willing to invest in developing tourism facilities, including hotels and resorts, amusement parks, ropeways and adventure sports, to give a boost to the sector and attract tourists to the state. The incentives were announced in the recently-unveiled state tourism policy, which aims to make […]

    January 10, 2022

  • Ex-RBI Governor Urjit Patel Appointed VP of Asian Infrastructure Investment Bank

    Former Reserve Bank of India (RBI) governor Urjit Patel has been appointed as a vice-president of the Beijing-based Asian Infrastructure Investment Bank (AIIB), a multilateral funding institution, according to sources in the bank on Sunday. India is a founding member of AIIB with the second-highest voting share after China. It is headed by the former […]

    January 10, 2022

  • Reliance Retail picks 25.8% stake in Dunzo for $200 million

    Reliance Industries Ltd’s retail arm has invested $200 million (around ₹1,488 crore) in Bengaluru-headquartered Dunzo as it looks to get a foothold in the country’s rapidly growing market of quick delivery. With the investment of $200 million, Reliance Retail will own 25.8% stake in the online delivery platform on a fully diluted basis. Existing investors Lightbox, […]

    January 7, 2022

  • State Bank of India invests $20 million in Pine Labs

    Bengaluru: India’s largest lender, the State Bank of India NSE 0.90 %, has invested $20 million in Pine Labs, the fintech startup said Tuesday without sharing any further details of the deal. The IPO-bound online payments and merchant solutions platform raised around $700 million in multiple tranches last year and was last valued at $3.5 billion. ET reported […]

    January 5, 2022

  • Alka Mittal becomes first woman to head ONGC as CMD

    Alka Mittal, director of human resources at energy major Oil and Natural Gas Company (ONGC), has been given the additional charge of chairman and managing director, the company announced on January 3. With this appointment, Mittal has become the first woman ever to head ONGC as its CMD. She will hold the post for six months or until […]

    January 4, 2022

  • West Bengal announces fresh curbs, restricts flights from Mumbai, Delhi

    The West Bengal government on Sunday said flights from Mumbai and Delhi were being restricted to twice a week from January 5 as new Covid cases in the state mounted to 6,153 from 1,089 on December 29. In a letter to the civil aviation ministry, the state government said that in view of the rising Covid cases […]

    January 3, 2022

  • Economists feel an uptick in investment and demand in FY23 will broad-base growth

    The economic recovery is likely to be broad-based and more durable in the next financial year as Covid-battered micro, small and medium enterprises (MSMEs), informal industries and contact-intensive services see a pick-up in capital investments and healthier balance sheets due to revival in demand, say economists. The resurgent Omicron variant, persisting shortages and bottlenecks, and […]

    January 3, 2022

  • Here’s where stock investors should consider putting their money in 2022Here’s where stock investors should consider putting their money in 2022

    Coming off several years of outsized gains in the stock market, investors may be hoping 2022 is like deja vu again. Don’t count on it. While future performance is impossible to predict with certainty, many financial advisors expect returns will come back down to Earth. “We have been telling clients to expect a lackluster year […]

    December 30, 2021

  • NPS to allow 4 changes per fiscal in investment pattern

    Pension fund regulator PFRDA will soon allow subscribers of the National Pension System (NPS) scheme to change investment pattern as many as four times during a financial year as there has been a demand to increase the limit, its chairman Supratim Bandyopadhyay said Tuesday. Currently, NPS subscribers are allowed to change the investment pattern twice […]

    December 30, 2021

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