Procter & Gamble India announced on Monday the appointment of Kumar Venkatasubramanian as its new chief executive officer, effective from May 1, 2024. Venkatasubramanian, aged 48 and an alumnus of IIM Calcutta, began his journey with P&G in the sales team in India in 2000. With over two decades of experience, mostly in India across … Read more
In January, Russia upheld its status as India’s leading crude oil supplier, contributing to almost a third of the country’s total crude imports, according to recent data from the commerce ministry. With a surge of 41% year-on-year, the value of crude oil imports from Russia reached a significant $4.47 billion. Sequentially, these imports rose by … Read more
Morgan Stanley’s chief Asia economist has expressed reservations regarding India’s ability to match China’s remarkable 8%-10% economic growth rates over the long term, despite maintaining optimism about India’s prospects. In an interview with Bloomberg Television, Chetan Ahya indicated that India’s economy is expected to sustain a steady growth rate of 6.5%-7% over the long term. … Read more
Bengaluru-based Varthana Finance, a non-banking finance company (NBFC) specializing in providing loans to affordable private schools and students for higher education, has completed the acquisition of India School Finance Company (ISFC)’s school loan portfolio across 14 states, totaling ₹126 crore. As part of this transaction, Varthana Finance will assume ownership of the loan portfolios associated … Read more
Flipkart, a prominent player in the e-commerce sector, has witnessed a significant downturn in its valuation over the span of two years. According to recent reports, the company’s valuation has plummeted by a staggering $5 billion from January 2022 to January 2024. This revelation comes to light through equity transactions orchestrated by Flipkart’s parent company, … Read more
Noida Police made a significant breakthrough on Sunday, arresting YouTuber Elvish Yadav in connection with a startling case involving the provision of snake venom at a suspected rave party he allegedly organized. Yadav, aged 26, has been remanded to 14 days of judicial custody following his arrest. The accusations stem from an event purportedly held … Read more
In a significant overhaul to its Dialer app ecosystem, Google has recently implemented a pivotal change: the removal of the highly-utilized Nearby Places Search feature. Initially phased out from the beta version in February, this feature has now been officially eliminated from the latest stable version (version 125) of the Dialer app for Android devices. … Read more
In a move set to reshape the leadership landscape of India’s diagnostic sector, Dr. Lal PathLabs Limited, a prominent player in the industry, has unveiled its latest appointment. Shankha Banerjee is slated to step into the role of Chief Executive Officer (CEO) and Key Managerial Personnel, effective May 21, 2024. The decision, unveiled through an … Read more
According to the individual filing the complaint, a resident of Dadar, he initiated an order for an iPhone from Flipkart on July 10, 2022, and completed the transaction by paying ₹39,628 through his credit card. In a recent verdict, the Consumer Disputes Redressal Commission in Central Mumbai has ruled against e-commerce giant Flipkart, holding it … Read more
It’s truly commendable to witness BPCL’s continued success and unwavering commitment to excellence, as exemplified by its 5th position in The Business World Real 500 list for 2024. This achievement not only highlights BPCL’s consistent financial performance but also underscores its resilience and adaptability in navigating the dynamic business landscape. BPCL’s ability to excel in … Read more
In response to growing scrutiny, the Modi government has made a significant policy reversal regarding the regulation of artificial intelligence (AI) in India. Previously, the government had issued an advisory mandating intermediaries and platforms to seek governmental approval before deploying “under-tested” or “unreliable” AI models and tools in the country. However, in a recent development, … Read more
As Mumbai gears up for its pivotal role in the Lok Sabha elections slated for May 20, 2024, anticipation brews regarding the operational status of the city’s esteemed stock exchanges, namely BSE (Bombay Stock Exchange) and NSE (National Stock Exchange). Given historical precedents observed during the 2014 and 2019 polls, it is widely speculated that … Read more
As artificial intelligence continues its rapid evolution, major tech companies are relentlessly advancing their AI models, enhancing their capabilities and versatility. Alongside the ubiquitous web-based versions, there’s a growing focus on crafting mobile iterations of these models, with Google emerging as the latest powerhouse to delve into this arena. Reportedly, Google is in the works … Read more
Despite facing global headwinds, India reported a robust 12% annualized growth in merchandise exports, totaling $41.4 billion for the month of February. This impressive performance has contributed to narrowing the contraction in the country’s exports during the first 11 months of the fiscal year 2023-24 by 3.6%, amounting to $395 billion. The update was provided … Read more
According to a government official, India’s recently unveiled electric vehicle (EV) policy, which includes import duty concessions for EV manufacturers under specified conditions, is poised to become a compelling magnet for investments. The official suggests that not only Tesla Inc. but also numerous other global companies within the sector are likely to be drawn to … Read more
Following a board meeting on March 15, the Securities and Exchange Board of India (SEBI) announced the introduction of a new optional settlement cycle. In a press release, SEBI stated, “The Board approved the launch of a Beta version of optional T+0 settlement, for a limited set of 25 scrips, and with a limited set … Read more
According to a report from The Economic Times, Air India is anticipated to implement layoffs affecting approximately 200 employees as a component of the Tata Group’s broader restructuring of its aviation business. As per insights provided by The Economic Times, Air India is poised to trim its workforce by approximately 200 individuals, aligning with the … Read more
According to a recent report from Bloomberg News, US authorities are currently delving into potential instances of bribery involving entities associated with the Adani Group, including its founder Gautam Adani, to secure favorable treatment for an energy project in India. The investigation, spearheaded by the US Attorney’s office for the Eastern District of New York … Read more
Global brokerage firm Nomura has expressed bullish sentiment towards Axis Bank, issuing a ‘buy’ call on the stock. Nomura’s analysis suggests an attractive valuation, prompting them to set a target price of Rs 1,250 per share. This target implies a potential upside of over 20% from the current level of Rs 1,034. Despite facing a … Read more
Following the green light from the National Payments Corporation of India (NPCI) allowing One97 Communications Limited to join the UPI platform as a third-party app, Paytm’s landscape is evolving with the integration of Yes Bank and Axis Bank onto its app interface, effective from early March 15. This integration heralds a new era, enabling users … Read more