Page 229 - Bs Reporter

Fintech startup Finvu AA raises $2.5 million in seed funding for expansion

Finvu AA will use the fresh funds to expand the team in engineering, and business development and enhance its product offerings

Clear strengthens compliance suite; acquires CimplyFive for undisclosed sum

This is Clear's second company acquisition in 2022 after it acquired Xpedize, an invoice discounting platform, in March

Adani Power to seek shareholder approval for Rs 5,000-crore project

The proposed transaction will involve the sale by Adani Power of its special purpose vehicles or subsidiaries to AdaniConneX

Singapore Airlines to restore network in India to pre-pandemic level

It is adding flights to Bengaluru, Chennai, and Kochi

Godi India to set up lithium-ion cell giga factory; gets BIS certification

Godi India is the first in the country to have certification from the Bureau of Indian Standards' for lithium-ion cells made using its home-grown technology

ClimateTech firm Climes raises $1.2 mn seed capital from Sequoia, others

The company's tech allows consumer-facing brands to turn climate-positive in a matter of hours. Its tech-stack integrates seamlessly with the checkout pages of everyday consumer brands

Auto service firm GoMechanic launches Rs 30 cr partner stock option scheme

Programme, which covers workshops, retailers, distributors and consultants pan-India, will have a 4-year vesting duration with yearly vesting at 25% and a cliff period of a year

NICL picks Cognizant for accelerating, managing its digital transformation

NICL is one of India's leading public sector general insurance companies

LIC to hold first AGM on Sept 27 via video-conference, other AV means

LIC Board sets August 26 as record date for dividend payment, approves investment in proposed rights issue of LIC (Nepal) Ltd

Indian cryptocurrency exchange Vauld suspends withdrawals, trading

Company says it's looking for new potential investors as it considers the option of restructuring

RBI slaps penalties on Kotak Mahindra Bank, IndusInd Bank

The monetary penalty was imposed on IndusInd Bank as it failed to adhere to customer due diligence procedure in the accounts opened using OTP based e-KYC, in non-face-to-face mode

Non-bank PSOs need approval for takeover or sale of business, says RBI

After approval, a public notice of at least 15 calendar days needs to be given before making the changes

HDFC Bank receives no objection letter from RBI for merger with HDFC

The RBI nod comes a day after both HDFC and HDFC Bank got no-objection from both stock exchanges, namely BSE and NSE

Muthoot Finance gets RBI approval to open 150 new branches across India

Muthoot Finance says it will hire 600 more people for the expansion

Mirae NBFC arm floats new product offering loans against MF holdings

Customers can avail instant loans of up to Rs 3 crore by pledging their equity and debt MF holdings on a mobile app

Edtech startup Kreedo raises $2.3 million in pre-Series A funding

Founded in 2012 by husband-wife duo Mridula Shridhar and VK Manikandan, Kreedo is on a mission to change the way early learning is delivered in budget private schools and preschools

Mauritius-based PEs not to pay additional capital gains tax, says MRA

IVCA had said the move to treat all income from Indian AIFs as dividends would wreak havoc on funds with a presence in Mauritius and investments in India

Food and beverage firm PepsiCo India hands over ad duties to Leo Burnett

This came after a multi-agency pitch, which saw Leo Burnett winning the mandate

Irdai and NHA to develop National Health Claims Exchange to settle claims

Based on a presentation by R S Sharma, CEO of NHA, chairman of Irdai Debasish Panda, has proposed creation of a working group with representation from the industry

Sebi imposes fine of Rs 36 lakh on PGIM Asset Management and its CEO

The new DDPI system is designed to prevent misuse of client securities by brokers