Indian IT players like TCS, Infosys, Wipro, HCL Technologies, Mphasis, and LTIMindtree have exposure to some of the troubled banks

Global banking crisis. Illustration: Binay Sinha

Business Standard

China's financial market regulators are monitoring the over valuation of India-listed companies which have business dealings with Chinese-origin companies in Asia, following a recent dispute settlement of two firms from both countries, informed sources said on Friday.
The sources cited a judgement by the Singapore International Commercial Court (SICC) this month, involving India's Kiri Industries and DyStar Global Holdings (Singapore), a subsidiary of the world's largest dye manufacturer from China.
The Hong Kong-based sources pointed out that Kiri's hope for a USD 603.8-million buyout of its stake by DyStar is looking dim.
The deal, as per the sources, is the buyout of Kiri's 37.57 per cent interest in Dystar which was valued at USD 603.8 million.
China's regulatory approvals for such a massive outflow of funds is unlikely, as regulators in Beijing are convinced that the Indian company's stake is highly overpriced due to speculative play in share prices.
Hong Kong-based Senda ...

China's financial market regulators are monitoring the over valuation of India-listed companies which have business dealings with Chinese-origin companies in Asia

Press Trust of India

Will also have to maintain edit log of changes made in books of accounts; experts say no firm will be able to delete an entry, will only be able rectify it

The rise in demand for STEM-qualified women is expected to rise the highest in the retail and e-commerce industry

Celebrating Women's Day with the power of the gig economy: Have a big idea? Here's how you can convert it into a business venture!

Globally, only 50 companies out of 322 have set targets to reduce business travel, with technology company Wipro paving the way in India

IANS

LIC's debt exposure in Adani group companies fell marginally to Rs 6,183 crore as of March 5 from Rs 6,347 crore as of December 31, 2022, Parliament was informed on Monday.
In a written reply to the Lok Sabha, Finance Minister Nirmala Sitharaman said, "The Life Insurance Corporation of India (LIC) has informed that its debt exposure to Adani Group of Companies, was Rs 6,347.32 crore and Rs 6,182.64 crore, as on December 31, 2022, and March 5, 2023, respectively".
LIC has a debt exposure of Rs 5,388.60 in Adani Ports and SEZ as of March 5. The exposure in Adani Power (Mundra) was Rs 266 crore, Adani Power Maharashtra Ltd - Phase I (Rs 81.60 crore), Adani Power Maharashtra Ltd - Phase III  (Rs 254.87 crore), Raigarh Energy Generation Ltd (Rs 45 crore) and Raipur Energen Ltd (Rs 145.67 crore), as per the reply.
Sitharaman said five public sector general insurance companies have informed that they do not have loan/credit exposure to the Adani Group of Companies.
"Public Sector Banks ha

LIC's debt exposure in Adani group companies fell marginally to Rs 6,183 crore as of March 5 from Rs 6,347 crore as of December 31, 2022, Parliament was informed on Monday

Razorpay is offering domestic start-up clients to move their money into their Indian current accounts as FDI through the firm's partner banks

SVB, Silicon valley bank

Around 18 per cent of India's unicorn startups are founded or co-founded by women and 20 other firms are in pipeline to become unicorn, a joint study said on Tuesday.
The study conducted by TiE Delhi NCR, research firm Zinnov, Google, NetApp and venture capital firm Indian Angel Network found that despite comparable metrics, success, and high entrepreneurial intent, socio-cultural barriers hinder women founders' growth.
"Approximately 18 per cent of India's total unicorns are founded by women, with 20 Potential Unicorns in the pipeline," the study said.
The startups that are in the pipeline to become unicorns include WinZO, Doubtnut, Infinity Learn, Locus, Pratilipi, Portea, SirionLabs, etc.
Women founded or co-founded start-ups that have already become unicorns include acko, BYJU's Pristyn Care, MyGlamm, MobiKwik, Open etc.
The total valuation of unicorn built by women founders stands at over USD 30 billion and total equity investments raised by them is over USD 12 billion.
The 

startups, funding, business

Around 18 per cent of India's unicorn startups are founded or co-founded by women and 20 other firms are in pipeline to become unicorn, a joint study said on Tuesday.

Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country's deputy IT minister said he had suggested that local banks lend more to them going ahead

Reuters

The collapse of SVB in the US had left the Indian startup ecosystem worried. More than 1,000 Indian startups were likely to have exposure to the SVB

Silicon Valley Bank, SVB, SVB Bank

Amid US administration's move to backstop collapsed Silicon Valley Bank's (SVB) despoits, IT minister Ashwini Vaishnaw has said the developments are "reassuring" and will bring relief to startups.
The Biden administration in the US has announced that depositors of the failed Silicon Valley Bank will have access to their money from Monday. Federal regulators have stepped to back all SVB deposits.
"SVB resolution is reassuring. (It) will bring relief to startups," Vaishnaw told PTI.
US President Joe Biden on Monday sought to reassure Americans that they can have confidence that the US banking system is "safe" and vowed stricter bank regulation after a string of bank failures raised concerns about the nation's financial stability.
After receiving recommendations from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling the FDIC to complete its ..

SVB was deeply entrenched in the tech startup ecosystem and the default bank for many high-flying startups

Meta-owned Instagram has announced it will put ads into the platform's search results to reach people actively searching for businesses, products and content

Goa Chief Minister Pramod Sawant on Tuesday asked people to take precautions in the wake of a rising number of COVID-19 and influenza infections in the country.
Sawant also said the count of coronavirus cases went up slightly in the coastal state.
The state government is monitoring the situation amidst the rise in COVID-19 and influenza cases in the country, the chief minister said, adding that people will have to take precautions while the government has already issued an advisory.
People who are feeling flu-like symptoms should avoid crowded places and opt for isolation, he said.
Goa reported 17 new COVID-19 cases on Monday, taking the overall tally to 2,59,297. The number of active cases is 109.
The state has not recorded confirmed influenza cases so far.
According to the Union Health Ministry data updated on Tuesday, India logged 699 new cases of coronavirus, while the active cases increased to 6,559.

Goa Chief Minister Pramod Sawant on Tuesday asked people to take precautions in the wake of a rising number of COVID-19 and influenza infections in the country.

Auto components major Bosch Ltd on Wednesday announced leadership changes with Guruprasad Mudlapur appointed as its Managing Director, and President of the Bosch Group in India with effect from July 1, 2023.
He will succeed Soumitra Bhattacharya who will be retiring from Bosch India effective June 30, 2023, after 28 years of service in various capacities, the company said in a regulatory filing.
Further, Bosch said from July 1, 2023, Sandeep Nelamangala, currently, Executive Director at Bosch Ltd and Executive Vice-President, Mobility Solutions at Bosch India, will be appointed as Joint Managing Director of Bosch Ltd.
Mudlapur will be responsible for the strategic growth and overall performance of the business in the region. At the same time, he will continue to be chief technology officer for Bosch Ltd, it added.
He has more than 15 years of experience in the Bosch Group and has held various positions in engineering and business management. Most recently, he was joint managing ...

Auto components major Bosch Ltd on Wednesday announced leadership changes with Guruprasad Mudlapur appointed as its Managing Director, and President of the Bosch Group in India

Chhattisgarh Chief Minister Bhupesh Baghel on Sunday said that BJP does not want common people to get the benefits of reservation

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Electric vehicles (EV) financing digital platform RevFin Services is targeting to finance 20 lakh vehicles in the next five years, with an aim to grow three to four times every year, according to its CEO & Founder Sameer Aggarwal.
With the Indian electric vehicle industry poised for an accelerated growth, he said the company is confident of meeting its target and would continue to raise funds through debt and equity going forward for the purpose.
"From a long-term perspective we have taken a very strong position on EVs, and we have committed to financing two million electric vehicles in the next five years," Aggarwal told PTI.
Asked if the target is not too steep, considering RevFin has financed 17,118  EVs in the last 51 months, he said,"The monthly loan disbursement is growing month-on-month by about 15 per cent. So overall, it has grown almost four times in the last one year. If we continue the kind of growth that we are currently on we will actually achieve these numbers."
In .

Electric vehicles

The revised Hinduja stand has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the Hindujas offer which led to a call for second auction and litigation by the other bidder

Reliance Capital

The only resolution done for a financial services company under special powers of RBI Section 227 was DHFL which was won by Piramal Group

TII will acquire 67 per cent, while Premji Invest will acquire the remaining 33 per cent

Tube Investments

Union Minister Piyush Goyal on Friday said India aspires to take its technical textiles market to USD 40 billion in the next 4-5 years from USD 22 billion at present.
In a virtual address at a conference on geo textiles, the Textiles Minister also expressed hope to build a domestic technical textiles market of up to USD 300 billion by 2047.
Currently, India is the fifth largest producer of technical textiles in the world with a market size of nearly USD 22 billion.
To achieve these objectives, Goyal underlined the need to focus on improving productivity at manufacturing and supply-chain levels.
Technical textiles are functional fabrics that have applications across various industries including automobiles, civil engineering and construction, agriculture, healthcare, industrial safety, personal protection etc.
"We will have to introduce economies of scale and also have to work on research and development to innovate and come up with attractive products which are in the future going

Piyush Goyal

India logged 1,890 new coronavirus cases, the highest in 149 days, while the active cases increased to 9,433, according to the Union Health Ministry data updated on Sunday.
The country had recorded 2,208 cases in a single day on October 28 last year.
The death toll has increased to 5,30,831 with seven deaths. While two deaths each were reported by Maharashtra and Gujarat in a span of 24 hours, three were reconciled by Kerala, the data updated at 8 am stated.
The daily positivity was recorded at 1.56 per cent while the weekly positivity was pegged at 1.29 per cent.
The Covid case tally was recorded at 4.47 crore (4,47,04,147)
The active cases now comprises 0.02 per cent of the total infections, while the national COVID-19 recovery rate has been recorded at 98.79 per cent, the ministry said.
The number of people who have recuperated from the disease surged to  4,41,63,883, while the case fatality rate was recorded at 1.19 per cent.
According to the ministry's website, 220.65 crore

A healthcare worker collects the nasal swab sample of a  woman for COVID-19 testing amid a surge in Coronavirus cases across the globe, at Coronation Hospital, in Dehradun.

Coronavirus test

ISRO's heaviest rocket LVM3 carrying 36 satellites belonging to UK-based OneWeb Group lifted off from this space port on Sunday.
The second dedicated mission for NewSpace India Ltd, the commercial arm of Indian Space Research Organisation is part of the agreement signed with Network Access Associates Ltd, United Kingdom (OneWeb Group Company) for launch of 72 satellites into Low-Earth orbits(LEO).
The first set of 36 satellites of OneWeb Group company was launched on October 23, 2022 by ISRO.
At the end of the 24.5 hour countdown, the 43.5 metre tall rocket blasted off at 9 am from the second launch pad here, about 135 km from Chennai.
Bharti Enterprises is a major investor in OneWeb group, which is engaged in the implementation of the constellation of low earth satellites.
It is a global communication network powered from space, enabling connectivity for governments and businesses.
The launch was the 18th for OneWeb Group company while for ISRO, it would be the second mission in

Isro, Isro logo

Former Jharkhand Chief Minister Raghubar Das asked BJP workers in Jharkhand to pull up their socks and work sincerely for the victory of the saffron party in the 2024 Lok Sabha and Assembly elections.
Das the BJP national vice president told the party workers to interact with people across the division and make them aware about the welfare schemes launched by the central government under Prime Minister Narendra Modi.
Addressing BJP workers on Saturday, Das stressed the need for strengthening booth level committees to win polls.
He alleged that the Hemant Soren government in Jharkhand has "failed" to deliver on all fronts.
The former CM alleged that no work is done in Jharkhand without 'cut money'.
BJP Jharkhand unit president Deepak Prakash said the party has dedicated workers and they will help the saffron party to win the 2024 Lok Sabha and Assembly elections with their hard work.

BJP, BJP flag

Mumbai Indians won their first five games and then lost two to put their position in the final in jeopardy. However, their victory in the eliminator was one to remember

Mumbai Indians in Women's Premier League 2023. Photo: @mipaltan

WPL 2023

Russian President Vladimir Putin announced plans on Saturday to station tactical nuclear weapons in neighbouring Belarus.
Putin said the plan was in response to Britain's decision this past week to provide Ukraine with armour-piercing rounds containing depleted uranium. Russia falsely claimed these rounds have nuclear components.
Belarusian President Alexander Lukashenko has long asked for the weapons, Putin said, speaking in an interview on Russian state television.
He said construction of storage facilities for the weapons in Belarus would be completed by July 1.
Russia used the territory of Belarus as a staging ground to send troops into Ukraine, and Moscow and Minsk have maintained close military ties.

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