Page 278 - Bs Reporter

B2B networking platform Anar raises $6.2 mn in seed funding round

The Anar business app caters primarily to small-and-medium businesses (SMBs) across the value chain, from manufacturers to retailers and resellers, helping them connect and interact with one another

Forbearance gives Indian banks time to build capital buffers: Fitch

No need for equity capital till FY25 to meet 8% CET1 level

Shadez raises $200K in pre-series A round led by Inflection Point Ventures

The startup is operating across Mumbai, Pune & Vadodara and has painted over 200 homes in Mumbai till date with over 400,000 sqft

Supreme Court rejects ArcelorMittal Nippon India's plea on arbitration

The SC bench of Justices Indira Banerjee and J K Maheswari held that the trial court can consider the Section 9 Arbitration Act application filed by Essar against ArcelorMittal

Shareholders of Tata Sons clear proposal to raise Rs 40K cr as fresh debt

The nod comes at a time when the group has ambitious plans to enter the e-commerce business

Moody's upgrades Tata Steel to Ba1 from Ba2; stable outlook

The stable outlook underscores Moody's view that Tata Steel will continue to strengthen its balance sheet, liquidity profile and financial policies to enhance its credit quality further

State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR

Also, it has cut its prime lending rate by 5 bps to 12.20 per cent

SC rejects ArcelorMittal plea on arbitration in cargo handling dispute

Two-judge bench holds that trial court can consider application filed under Section 9 of the Arbitration Act by Essar against ArcelorMittal

Google, 3one4 Capital, and Temasek invest Rs 453 cr in neo-bank Open

Existing investor Tiger Global also participates in Series C round; Open claims to be one of the country's largest SME banking platforms; last Feb it had processed $11 bn in transactions

CNG-PNG use could soar on all-time high price edge over other fuels: Crisil

Rating agency sees 25-27% surge in sales, driven in part by rebounding vehicular mobility and industrial activity as well

GTM Buddy raises $2mn in seed round led by Stellaris Venture Partners

The company said it would use the funds for improving its product capabilities and building teams for sales, marketing and customer relations

Online retail store Gobbly raises Rs 7.2 crore in angel funding round

The company said it would use the funding to strengthen its position as one of the fastest-growing retail tech startups in India

HCL signs up with Korea's HANCOM for global expansion, tech solutions

HCL will support training for software development at HANCOM's in India research and development centre, which was established in 2016.

RBI and Singapore central bank to link payment systems by July 2022

The RBI and MAS hope to complete the linkage by July 2022 "on a reciprocal basis without a need (for users) to get onboarded onto the other payment system".

Adani Transmission, Max Financials, Laurus Labs to gain from FTSE rejig

The three stocks are part of several other domestic companies likely to get added to FTSE indices. Adani Transmission is likely to see the largest inflows at $121 million

Aadhaar seeding must for EPF deposits from Sept, extended for north-east

Specified industries such as construction, plantation also given time till December 31

Irdai extends last date for sale of Covid plans till March 31, 2022

Earlier, in March this year, the regulator decided to extend the timeline for the sale and renewal of such policies till September, looking at the prevailing situation

India Inc sees 219 deals worth $8.4 bn in August, record volumes since 2005

Volumes have almost doubled over August 2020, transaction values jumped by 5.8x driven by a 13x rise in PE investment values, as per Grant Thornton Bharat Deal Tracker

FUDR raises $140,000 from US-based accelerator Expert Dojo, angel investor

The company currently works with 500 F&B outlets across 50 cities to help them generate annualised GMV of $3 million. It is growing at 25% MoM, adding 300 new F&B brands a month

TCS, NXP Semiconductors announce tie up for digital transformation

TCS will accelerate Dutch firm's cloud adoption to improve business agility and build digital foundation.