For employees of four public sector general insurance businesses, the Finance Ministry has announced an average 12% pay increase beginning in August 2017. “This Scheme may be called the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2022,” a gazette notification dated October 14, 2022, said. It added […]
When it comes to adopting a position on moonlighting, which is defined as side jobs people engage in alongside their core employment, the Indian IT industry is divided. While computer behemoths like Wipro and Tata Consultancy Services (TCS) view it as unethical and inconsistent with their basic beliefs, Tech Mahindra embraces the practice and intends
The test preparation platform Ace Creative Learning, often known as Deeksha, was purchased by the Indian edtech company Vedantu for $40 million (Rs 330 crore). Deeksha will bring around 13,000 of its students to Vedantu’s platform thanks to this funding. It will also make use of the pedagogical content, educational technology, and live lessons already
The third fund from early-stage venture capital firm Fireside Ventures was completed at Rs 1,830 crore ($225 million), twice the size of its second fund. It will continue to invest in companies that produce goods for markets outside of India. In 2017, Fireside Ventures was founded. Kawaljit Singh, Vinay Singh, Kannan Sitaram, and Dipanjan Basu
MS Dhoni, a former captain of India, has acquired shares in the plant-protein start-up “Shaka Harry,” which sells a variety of meals and snacks. Dhoni was introduced by the company as an investor and brand ambassador at an event in Bengaluru. A growing number of start-ups are teaming with celebrities in which they provide a
MS Dhoni is an investor and brand ambassador of plant protein start-up, Shaka Harry Read More »
Sameer Nigam and Rahul Chari, the co-founders of the Indian digital payments business PhonePe, invested an undisclosed sum in the RuPay Prime Volleyball League (PVL) and bought the Mumbai Meteors, the league’s eighth club. The PVL’s franchise owners are also the league’s stakeholders. Additionally, Abhijit Bhattacharya, a former captain of the Indian national volleyball team,
Co-founders of PhonePe join Prime Volleyball League to acquire the Mumbai franchise Read More »
The Finance Ministry said on Sunday that the gross tax receipts for the federal government have increased by 24% year over year for the current fiscal year. Net revenues increased by 16% year over year to Rs 7.45 lakh crore, exceeding the FY23 Budget Estimate by more than 52%. According to the government, tax receipts
In FY23, gross direct tax receipts increased by 24% to Rs 8.9 lakh crore Read More »
The central government and the Life Insurance Corporation (LIC) of India have made the decision to sell their 60.72% ownership holding in IDBI Bank. As of June 30, the two owned over 94% of IDBI Bank, with the Center holding a 45.48 % interest and LIC holding a 49.24% stake. According to the specifics, the
LIC and Central Government of India will divest 60.72% stake in IDBI Bank Read More »
Titan, a member of the Tata Group, reported on Thursday that its overall revenues increased 18% over the same period last year. According to a quarterly update, the company, which operates in the areas of Jewellery, Watches & Wearables, and EyeCare, has experienced “strong double-digit growth across most businesses.” Titan expanded its retail network by
Titan reports a 15% increase in sales for the September quarter Read More »
The Reserve Bank intends to make considerable use of artificial intelligence, machine learning, and advanced analytics to analyse its massive database and enhance regulatory supervision of banks and NBFCs. The central bank is attempting to engage outside specialists for this purpose as well. While the RBI already employs AI and ML in supervisory procedures, it
RBI to employ AI and ML to enhance regulatory supervision Read More »
