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State govts' borrowings to be lower by Rs 50,000 crore in Q1: ICRA

During Apr 1-May 2 FY2023, only Andhra Pradesh (Rs 44 billion), Maharashtra (Rs 40 billion), Punjab (Rs 25 billion) and Haryana (Rs 15 billion) raised through State Development Loans (SDL)

Hero MotoCorp Q4 profit falls 28%; revenue drops 14% to Rs 7,422 cr

The company's board has recommended a final dividend of Rs 35 per share

IIFL, Open Financial Technologies enter JV, launch neobank for MSMEs

Initial capital of JV Rs 120 crore; no technology capex as the same is being Offered by Open on a per-customer basis

Fintech Kaleidofin raises 2nd tranche of $15 mn Series B equity funding

According to the company, the proceeds of this round will be used to strengthen tailored credit solutions for informal sector customers.

Traceable AI raises $60 mn in series B at at $450 mn-plus valuation

The investment round was led by IVP and other investors include Tiger Global and existing investors Unusual Ventures and BIG Labs

SaaS firm Toplyne raises $15mn Series A led by Tiger Global, Sequoia

The team will use the funding to aggressively deliver on the product roadmap, and scale the data science, engineering, product, and design teams

RBI board approves Rajiv Ranjan as MPC member after Mridul Saggar retires

Ranjan was an advisor in-charge in the monetary policy department, before he was elevated as an executive director.

India's pharma exports touch Rs 1.8 trillion in FY22, flat over FY21

India ranks third worldwide for production in terms of volume and 14th by value, says commerce ministry.

Rise Capital begin operations in India; appoints Anuj Mehta has India head

Rise Capital has already invested in two Indian startups, TradeX and SaveIn, both in the fintech space.

TVS Motor April sales rise 24% to 295,308 units; exports increase 6%

TVS Motorcycle sales grew by 4%, from 133,227 units in April 2021 to 139,027 units in April 2022

Fino Payments Bank promoters vote against reappointing chairman, others

The resolution to reappoint Mahendra Kumar Chouhan and Punita Sinha was voted down by 80% of shareholders of Fino Payments Bank, which included 100% of the promoter group

IDFC First Bank net profit at Rs 342 crore surges 168% in March quarter

Bank says the economic impact of the coronavirus is diminishing to help its asset quality, lending

Rainbow Children's Medicare's IPO subscribed 12.4x on institutional push

Institutional demand for IPOs of both Rainbow Medicare and Campus Activewear, which closed this week, have been strong. Experts say this is a healthy sign for LIC's IPO, which opens next week

IndusInd Bank Q4 net up 51% to Rs 1,401 cr on lower provisions, higher NII

Net interest income increased by 13% YoY and 5 per cent sequentially to Rs 3,985 crore

RBI issues norms for compensation key managerial staff at NBFCs

Finance companies need to set up nomination and remuneration committee, which will oversee the framing, review and implementation of compensation policy with board approval

JM Financial elevates Sonia Dasgupta as CEO of investment banking

She succeeds Adi Patel and Atul Mehra who have been Co-Heads of Investment Banking business till date

Insurers allowed exposure to fin, insurance upto 30% of investment assets

Accordingly, the limit of 25% of investment assets stands revised to a limit of 30% of investment assets

DCC likely to meet on Friday to discuss pricing of 5G spectrum

DCC may discuss whether the issue of E band should be referred to the regulator to fix a base price in case it is auctioned

India's fertiliser subsidy may go up by 55% to record Rs 2.5 trillion

The government will not increase retail prices of urea and also provide adequate subsidies to ensure that the maximum retail prices of non-urea fertilisers remain at the present level, sources said

PNB Housing Finance profit rises 33% at Rs 170 crore in March quarter

Its net interest income fell by 37 per cent in the reporting quarter to Rs 377 crore