Top headlines: Paytm to raise Rs 12,000 crore; Wipro announces salary hike

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Paytm to raise Rs 12,000 crore via fresh equity, remove Sharma's promoter tag
 

One97 Communications, the parent company of Paytm said the company intends to raise Rs 12,000 crore ($1.6 billion) by issuing fresh equity. The company’s much-awaited IPO is expected to come by November this year. This, among other things, will be on the agenda at an extraordinary general meeting (EGM) scheduled to be held in Delhi on July 12. READ MORE...

RBI allows Centrum to set up small finance bank, paves way for takeover of PMC Bank

Paving the way for takeover of crisis-ridden Punjab and Maharashtra Cooperative Bank (PMC), the Reserve Bank of India on Friday granted in-principle approval to the Centrum Financial Services to set up a small finance bank. Centrum Financial Services was one of the applicants for takeover of the PMC Bank. READ MORE...

Support from all sides needed to nurture economic recovery hit by 2nd wave of Covid: RBI Guv
 

Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides -- fiscal, monetary and sectoral -- to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. READ MORE...

Wipro to roll out salary hikes for junior staff from Sep 1

IT services major Wipro on Friday said it will give wage hikes to junior employees with effect from September 1, 2021. "Wipro Limited will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (Assistant Manager and below), effective September 1, 2021. In January 2021, the company had announced salary hikes for eligible employees in these bands, who form 80 per cent of the company's workforce – this is the second hike in this calendar year," Wipro said in a statement. READ MORE...