CATEGORIES

Less time for tech tweaks likely behind BBPS issue

A shorter window to comply and delayed prioritisation of technology systems may have hindered banks' efforts to comply with the Bharat Bill Payment System (BBPS) interface.

Easing inflation no respite for people's financial woes: Kantar

Almost a third of India is under \"severe A financial stress\" and consumers are finding it difficult to manage their expenses though inflation has eased, said a new report by Kantar on Friday, adding the rural market was a \"bright spot\".

Google pauses plan to levy service fee on real-money gaming apps on PlayStore

Tech giant Google on Friday announced its decision to pause its experiment aimed at expanding the number of realmoney gaming (RMG) apps on its Play Store in countries without a central licensing framework.

India tech stack will help stimulate growth: Paranjpe

HUL executive chairman says FMCG continues to be strong in India

'Managed this fundraise because of business performance'

After raising $665 million in this year's largest funding round, at a valuation of $3.6 billion, quick commerce major Zepto is gearing up for an initial public offering (IPO). AADIT PALICHA, co-founder and chief executive officer (CEO), tells Aryaman Gupta in a video interview that the company is close to turning profitable, even as it looks to expand into newer markets. Edited excerpts:

SoftBank signs indemnity clause over Unicommerce 'promoter' tag

SoftBank has entered into an indemnity agreement with Snapdeal founders Kunal Bahl and Rohit Bansal - after markets regulator Securities and Exchange Board of India (Sebi) classified the Japanese investment major as the \"promoter\" of IPO-bound Unicommerce eSolutions.

Rising China imports powering India's electronics output

The expansion of India's electronics production is becoming increasingly dependent on imported components from China and Hong Kong, especially key products such as PCBs, micro assembly, semiconductor devices, LEDs, integrated circuits, and capacitors.

Arcelor-Nippon pushes back against raw material import policy

ArcelorMittal's India joint venture has privately warned trade officials in New Delhi that a plan to curb imports of a key raw material for steelmaking overlooks the implications of the Red Sea crisis, a letter showed.

Zepto raises $665 mn to double valuation

Marks one of the largest financing in q-comm; valuation hits $3.6 bn

Pine Labs plans $1 bn IPO in India after shift from Singapore

Likely to seek over $6 bn valuation; may go for pre-IPO round

KPMG plans C-suite topup to power Project Himalaya

From advisory to technology and human resources, KPMG, one of the Big Four firms, is ramping up its senior leadership teams across verticals as its Project Himalaya is set to become operational in the next few months, according to people in the know.

Highway capex may rise up to 10%

The Centre is considering a 5-10 percent increase in capex deployment for highway development in the country in the upcoming Union Budget for 2024-25, according to senior government officials.

RELATED-PARTY TRANSACTIONs - ₹2.68 trn awaits shareholder nod next week

Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors the latter two are part of the Sensex - will decide on combined related-party transactions of more than 2.68 trillion proposed for this financial year and later.

Average woman executive director takes home 40% less than men

Share of women in senior, middle management roles has also declined

77% Indians want stronger climate action: UNDP poll

Four in five people want their governments to take stronger action to tackle climate change, according to a United Nations survey.

Fitness trackers, desk yoga: India Inc stretches forward

Come June 21, Srinagar will witness Prime Minister Narendra Modi lead the International Yoga Day event from the banks of Dal Lake.

Ixigo IPO puts spotlight on rival travel platforms

Analysts caution against chasing momentum in the pack

Framework for holdco price discovery launched

Market regulator Sebi on Thursday announced a framework for special call auctions with no price bands for price discovery of investment holding companies.

General Atlantic, Asia Opportunities sell 4.9% stake in PNB Housing Fin

Foreign investors General Atlantic and Asia Opportunities V (Mauritius) on Thursday sold a 4.9 per cent stake in PNB Housing Finance for ₹1,004 crore through open market transactions.

Govt seeks exemption for sovereign funds from RBI's AIF rules

The Centre has asked the Reserve Bank of India to exempt sovereign funds from a recent set of tightened rules concerning investments in alternate investment funds (AIFS), according to two government sources and a fund official.

Benchmark indices scale fresh highs

Benchmark indices Sensex and Nifty hit new lifetime highs on Thursday, fuelled by intense buying in market heavyweights Reliance, ICICI Bank and HDFC Bank amid a recent surge in foreign capital inflows.

FIIs buy bank stocks, impetus may sustain

Total index futures bought by them hit 56,911 on June 19

Ola, Emcure get Sebi nod for IPOS

Electric two-wheeler company Ola Electric and Bain Capital-backed Emcure Pharmaceuticals have received the Securities and Exchange Board of India's (Sebi's) approval to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Thursday.

Rupee hits new low on importer demand, corporate outflows

The rupee plunged to a new low of 83.65 against the US dollar on Thursday, driven by corporate outflows and robust demand from local importers, dealers said.

90 Indians among 1,000 dead in Mecca

The death toll at the Haj pilgrimage amid intense heat in Saudi Arabia has gone past 1,000, news agency AFP reported.

Dell announces new AI factory with Nvidia GPUs

The Chief Executive Officer (CEO) and Chairman of Dell Technologies Michael Dell announced on X that the company is developing the Dell AI factory with Nvidia graphics processing units (GPUs) to power Grok- the AI model created by Elon Musk's company, XAI.

Sunak set for crushing defeat: Poll forecasts

Rishi Sunak's Conservative Party is heading for an electoral wipeout in the UK general election on July 4, according to three major polls on Wednesday, including one that projected even the premier will lose his seat.

Xi's mystery PBOC plans surface with biggest shift in years

It started with a cryptic quote from President Xi Jinping buried in a 172-page book on the financial sector.

OpenAI cofounder bets on 'safe superintelligence' firm

At OpenAl, Sutskever led a team focused on safely developing better-than-human Al

SoftBank's Masayoshi Son ready for next big bet

SoftBank Group Founder Masayoshi Son declared he's ready to swing for the fences when he makes his next big tech bet, suggesting the Japanese conglomerate is on the cusp of making a major investment in AI.