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Indian travel market to cross $125 billion by FY27, says report

The surge in travel is fueled by improving airport infrastructure and increasing access to passports

L&T Infotech Q2 net profit rises 21% to Rs 552 cr, revenue up 26%

'We report the strongest sequential revenue growth and best ever Q2 of 8.9% in constant currency terms,' says company CEO

RBI penalises Standard Chartered Rs 1.95 cr for gaps in customer protection

Regulator found that bank did not credit amounts involved in unauthorised electronic transactions (shadow reversal) and did not report cyber security cases within prescribed time

RBI imposes Rs 1 crore penalty on State Bank of India

'This action is based on the deficiencies in regulatory compliance,' says RBI

Hyderabad-based Penna Cement gets Sebi nod for Rs 1,550 crore IPO

The IPO includes fresh issue of Rs 1,300 crore and anoffer for sale of up to Rs 250 crore by its promoter PR Cement Holdings, which currently holds 33.41% stake in the company

Contenders for Citibank's retail arm still in due diligence stage

Lender may take time till December to finalise a buyer, no shortlist made so far, says a source

Delhivery names 3 top execs from finance and mfg as independent directors

Career banker and former IndusInd Bank MD-CEO, Ramesh Sobti, and Marico Industries chief Saugata Gupta join former JP Morgan India CEO Kalpana Morparia on the supply chain firm's board

SC stays GST on royalty paid by petitioner to state for mining rights

GST at the rate of 18 per cent is imposed on royalty given to the state governments for mining rights

Nifty Auto index gains over 3% on Tata Motors-TPG deal boost

Tata Motors holds approximately 12 per cent weight in the Nifty Auto index, and trails Maruti Suzuki and Mahindra & Mahindra

InMobi to acquire London-based app ads performance tracker Appsumer

Appsumer has been the intelligence platform of choice for consumer brands such as Miniclip, Picsart and Viber. It was funded by Galvanise Capital and named a Top-100 UK startup

Swiggy plans entry into community commerce with Swiggy Bazaar: Sources

Firm plans to leverage group buying model, puts out job postings on LinkedIn and Getwork for the upcoming vertical

VerSe Innovation acquires social networking app GolBol for undisclosed sum

GolBol's entire team including co-founders will join VerSe to help accelerate the work being done to modernize and multiply the impact of Josh

D2C jewellery brand Melorra raises $24 mn in funding round led by 9Unicorns

Melorra's vision is to bring the fast-fashion model into jewellery, where they launch a new collection every week and 75 designs every Friday

Education startup Playto Labs raises Rs 4 cr in seed funding from IPV

The funds raised will be used in building a strong team and expanding its customer base

Venture debt firm BlackSoil provides Rs 35 cr growth capital to 5 startups

Investor says unique business positioning of the five firms and ability to survive through adversities like Covid is what made them attractive propositions for BlackSoil

Edtech firm Creative Galileo gets $2.5 mn in funding led by Kalaari Capital

Kalaari Capital's investment came from CXXO, an initiative to promote female founders in India's start-up ecosystem.

Tax collections to foreign trade, economic recovery maintains momentum

Employment conditions and consumer sentiments have also improved dramatically, suggests CMIE data

Union Cabinet likely to approve Gati Shakti master plan on Tuesday

Gati Shakti will be a digital platform that will bring 16 ministries to provide real-time access to information and data on various infrastructure projects

Reserve Bank of India retains advisory committee on Srei group companies

On October 04, 2021, RBI had constituted a three-member panel to assist Rajneesh Sharma, Administrator in discharge of his duties

CCI penalises PMP Infratech, Rati Engg for rigging tender floated by GAIL

PMP Infratech fined Rs 25 lakh, Rati Engineering to pay Rs 2.5 lakh; personnel managing and controlled the two firms also penalised, cease-and-desist order passed