Tata Sons has won the final bid for acquiring national carrier Air India, according to government sources. Tata Sons had submitted the final bid for Air India on September 15 and emerged as the frontrunner to acquire the airline. SpiceJet promoter Ajay Singh had also submitted a bid for the airline while the Tata Sons […]
Ola Electric raises $200 mn funding, valuation touches $3 bn
Ola Electric has raised over $200 million in a funding round, led by Falcon Edge, Softbank and others. The latest funding round took the company’s valuation to $3 billion. The current round of funding will help Ola accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car.
Govt eases re-export timeline of containers by 3 months to curb shortage
Central government on Saturday announced a three-month extension for re-export of containers without attracting import duty to prevent export of empty containers. The step has been taken in an attempt to ease the container shortage being felt by exporters. Ordinarily, containers kept in the country beyond six months are subject to import duty to promote […]
Centre extends PAN-Aadhaar linking deadline till March 31
Central government has extended the deadline for linking Aadhaar with the permanent account number (PAN) till March 31, 2022. The income tax (I-T) department informed that the last date for the Aadhaar-PAN linking, which was earlier September 30, has been further extended by 6 months. This is the fourth time the government has revised the […]
BMW Group India pledges Rs 8 crore to fight COVID-19 pandemic
BMW Group India on Tuesday pledged a total of Rs 8 crore towards the fight against the COVID-19 pandemic in the country. An additional contribution of Rs 5 crore has been made on top of the company’s earlier commitment of Rs 3 crore. The company’s efforts are dedicated towards augmenting healthcare infrastructure and medical services […]
RBI approves transfer of Rs 99,122 crore as surplus to govt
Reserve Bank of India (RBI) has decided to transfer a surplus of Rs 99,122 crore to the central government for the accounting period of nine months ended March 31, 2021. The central bank has also decided to maintain the Contingency Risk Buffer at 5.50 per cent. The central bank took the decision to transfer the […]
Gautam Adani becomes Asia’s 2nd richest person
Adani Group’s chief Gautam Adani has become the second richest person in Asia, surpassing the Chinese bottled water billionaire Zong Shanshan. Adani’s net worth stands at $66.5 billion while Zhong Shanshan’s total worth is pegged at $63.6 billion. Only Reliance Industries Limited’s (RIL) chief, Mukesh Ambani, is now richer than Adani in India. This means […]
Central govt approves Rs 18,100 crore PLI scheme for ACC battery manufacturing
Central government has recently approved the Production Linked Incentive (PLI) scheme for promoting battery storage at an estimated outlay of Rs 18,100 crore. With the objective to promote the ‘Make in India’ initiative, National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract investment of Rs 45,000 crore. The proposal aims to […]
Harley-Davidson to ride in new electric motorcycle soon
Harley-Davidson announced a new plug-in motorcycle as part of its launch of a stand-alone electric brand. The “first LiveWire branded motorcycle” will debut July 8 at the International Motorcycle Show. The iconic American manufacturer already uses the LiveWire as the model name of its one existing electric bike, which starts at $29,799.
Zomato launches mini-menus for home-style food across the country
Zomato has launched new ‘mini menus’ for home-style food to cater to people battling poor health. The new feature has been launched in collaboration with “thousands of restaurants across the country”. Zomato’s new feature has been launched in collaboration with “thousands of restaurants across the country”.