Page 39 - Bengaluru

Indian Bank opens specialised startup cells in 10 cities across the country

Public sector Indian Bank on Wednesday said it has set up 10 startup cells across different centres in the country to serve its specialised banking requirements. Accordingly, the startup cells have been set up in Ahmedabad, Bengaluru, Coimbatore, Chennai, New Delhi, Gurgaon, Guwahati, Hyderabad, Kanpur and Mumbai. Under the initiative, the Chennai-based public sector bank said a bouquet of tailor-made banking products and services were designed for the startups keeping in mind their unique and specialised banking requirements. It includes offering payment gateways, corporate credit cards and credit facilities apart from the existing products of the bank, a press release said. "The launch of the startup cells is a major milestone in Indian Bank's journey to support the growth of the startup ecosystem in India," Indian Bank MD and CEO S L Jain said after inauguration of the centre in Chennai. After the opening, Jain also virtually inaugurated nine startup cells in the different citi

Tata Realty buys 102,000 sq metre land in Bengaluru from Graphite India

Tata Realty and Infrastructure Ltd (TRIL) has bought over 1.02 lakh square metres of land in Bengaluru from Graphite India Ltd for Rs 986 crore. In a regulatory filing earlier this week, Graphite India said that a committee of directors approved a proposal to sell 1,02,349.33 square metres of land in Bengaluru for an aggregate consideration of Rs 986.13 crore to TRIL's two subsidiaries TRIL Bengaluru Real Estate Five Ltd and TRIL Bengaluru Real Estate Six Ltd. The land has been sold, along with the structures standing thereon having an aggregate built-up area of 12,674 square feet, the filing said. The company received the entire consideration on August 7, and the registration process was also completed on the same day. TRIL is a 100 per cent subsidiary of Tata Sons. Graphite India manufactures graphite electrodes as well as carbon and graphite speciality products. It has six plants in India. According to real estate consultant Anarock, real estate developers remained active in la

JP Morgan opens new million square feet plus offices in Mumbai, Bengaluru

American financial services major JPMorgan Chase has opened two new facilities in Mumbai and Bengaluru, which will become two of its largest technology and operations centres globally. The Mumbai campus is a 1.16 million square feet facility located on the 23-acre Nirlon Knowledge Park, which is one of the largest finance and technology hubs located along the Western Express Highway at Goregaon, northwest of the megapolis while the new 1.12 million square feet-Bengaluru hub is located within the Embassy Tech Village, on the Outer Ring Road, the company said in a statement on Tuesday. Mumbai and Bengaluru are an integral part of our sustained success, and these new facilities demonstrate our continued commitment to India and our people, said Daniel Wilkening, the chief administrative officer for India corporate centre at JPMorgan Chase. The two new campuses will enable our people with state-of-the-art technology, flexible, efficient, and inclusive workspaces that are powered by ...

Macrotech eyes Rs 12k-cr sales revenue from land parcels in MMR, Bengaluru

Realty firm Macrotech Developers Ltd has acquired five land parcels in Mumbai region and Bengaluru during April-June quarter to develop housing projects with a revenue potential of Rs 12,000 crore. Macrotech Developers MD and CEO Abhishek Lodha said the company has added new projects worth Rs 12,000 crore in the first quarter of this fiscal year as against the annual guidance of Rs 17,500 crore. "We are not revising our annual target for new business development as of now," he told PTI. Macrotech Developers, which sells its properties under the Lodha brand, buys land outrightly and also forms joint development agreements (JDAs) with landowners to create pipeline for future real estate projects. "We are preferred partner for landowners for both outright deals as well as JDAs," Lodha said. According to an investor presentation, the company added four land parcels in Mumbai Metropolitan Region (MMR) and one in Bengaluru. Five projects with around Rs 12,000 crore GDV (gross developme

Lenovo plans to hire 1,000 techies at shared support centre in Bengaluru

PC maker Lenovo plans to hire around 1,000 technical people at its first shared support centre opened in Bengaluru for global customers, a senior company official said on Wednesday. The centre will provide technical support to its customer across various verticals. "As we launched the Shared Support Center, we are about 100 people strong and as we grow, we will add to the 1,000 number," Managing Director of Lenovo India Shailendra Katyal told PTI. The company has not disclosed the investment amount. "This strategic infrastructure investment is poised to drive exponential growth, offering cutting-edge solutions and services while solidifying Lenovo's position in India as a prominent global tech hub. We take pride in contributing to the nation's progress and job creation, while empowering businesses worldwide," Katyal said. The centre has a Digital Workplace Solutions (DWS) setup team for employees working remotely and in hybrid modes, the company added. The facility will deliver r

After Sequoia split, India's Peak XV to hold CEOs meet for first time

The invite-only Peak XV "Founder Retreat" is planned for Aug 18-19 in the tech hub of Bengaluru, dubbed the Silicon Valley of India and the base of many startups

CM Siddaramaiah to meet Nitin Gadkari regarding Bengaluru-Mysuru Expressway

With accidents on rise on the Bengaluru-Mysuru Expressway, Karnataka Chief Minister Siddaramaiah on Saturday said he would meet Union Minister for Road Transport and Highways Nitin Gadkari and point out the flaws on the expressway and changes to be made. Speaking to reporters after inspecting accident-prone areas of the Expressway near Mandya, Siddaramaiah accused the BJP government of inaugurating it in a hurry ignoring the flaws that was resulting in accidents. "I am going to Delhi and will meet Gadkari and ask him to rectify things (on the Expressway). A proposal for Rs 150.81 crore has been sent to the Centre for improving the service road," the Chief Minister said. According to him, the work will start from November this year. To a question on the alleged toll collection going on at those stretches which are still incomplete, the Chief Minister said the state government had no role to play as it is being done by the National Highway Authority of India (NHAI). "We are not ...

Not akin to residential units, hostel accommodation to attract 12% GST: AAR

Students will have to shell out more for hostel accommodation as a 12 per cent GST would be applicable on the rent paid, the Authority of Advance Ruling said in two separate cases. The Bengaluru bench of the Authority of Advance Ruling (AAR) said hostels are not akin to residential dwelling units and hence are not exempt from Goods and Services Tax (GST). In an advance Ruling sought by Srisai Luxurious Stay LLP, the AAR said GST exemption was applicable on the accommodation services, of charges up to Rs 1,000/- per day, provided by hotels, clubs, campsites etc. till July 17, 2022. "PG/Hostel Rent paid by inhabitants do not qualify for GST exemption as the services provided by applicant are not akin to renting of residential dwelling for use as residence," the Bengaluru bench said. GST on reverse charge will be applicable on the rental to be paid to the landowners by the applicant as the services of the applicant are leviable to GST and thus the applicant has to obtain GST ...

Tata Motors delivers prototype of indigenously-developed e-bus to BMTC

Tata Motors on Friday delivered a prototype of its indigenously-developed electric bus to the Bengaluru Metropolitan Transport Corporation. The Bengaluru Metropolitan Transport Corporation (BMTC) has placed an order for 921 advanced e-buses with the auto major, Tata Motors said in a statement. As part of the larger order signed between TML Smart City Mobility Solutions Ltd -- a wholly-owed subsidiary of Tata Motors -- and BMTC, the company will supply, operate and maintain 921 units of 12-metre low-floor electric buses for 12 years, the statement said. The bus is equipped with modern features, providing commuters a hassle-free travel experience, Asim Kumar Mukhopadhyay, managing director and chief executive officer at TML Smart City Mobility Solutions Limited, said. To date, Tata Motors said it has supplied over 900 e-buses across multiple cities in the country.

Karnataka dy CM Shivkumar visits Bengaluru to review heavy rain situation

Notably, all schools in five talukas of Chikkamagaluru district stood closed on Monday amid the prediction of heavy rains in the region

Russia's largest lender Sberbank to establish IT centre in Bengaluru

Russia's largest lender Sberbank's branch in India has received permission from the Reserve Bank of India to establish an information technology unit in Bengaluru, where it plans to employ up to 200 IT specialists. The new IT office would house Sberbank's in-house data processing centre, it said. While Sberbank's India branch has been active in New Delhi since 2010 and offers a wide range of financial services, the Bengaluru office will be fully focused on developing information technologies, the state-owned bank said in a statement on Friday. Anatoly Popov, Deputy Chairman of Sberbank's Executive Board, said: "The Bangalore (Bengaluru) hub will not only handle the technological needs of our Indian branch but also develop and implement new digital products for its clients. And in the longer term, we plan to employ up to 200 IT specialists in our new unit", he said.

Major terror plot averted in Bengaluru, 5 suspects arrested with explosives

Bengaluru police officials said all five suspects were jailed in connection with a 2017 murder case in the Central Jail

'United We Stand' is Oppn's slogan as leaders begin brainstorming session

With a call for unity, top leaders of 26 opposition parties began crucial deliberations on Monday to chalk out their joint programme aimed at defeating the BJP in the 2024 Lok Sabha elections. Congress leader Sonia Gandhi and Trinamool Congress (TMC) chief Mamata Banerjee, who were seated next to each other, Congress president Mallikarjun Kharge, Rahul Gandhi, chief ministers M K Stalin, Nitish Kumar, Arvind Kejriwal and Hemant Soren and RJD chief Lalu Prasad were among those who attended the dinner meeting where discussions were held to finalise the agenda for the formal talks starting Tuesday morning. Sources said NCP chief Sharad Pawar was the only leader among the invitees not present at the meeting at Taj West End Hotel and he would arrive on Tuesday along with his daughter Supriya Sule. "It was a good meeting," Mamata Banerjee later said. The leaders sat in front of a huge banner with "United We Stand" slogan, which was also put on posters that dotted the streets of Bengalu

Sharad Pawar to attend Opposition conclave in Bengaluru on Tuesday

Nationalist Congress Party (NCP) president Sharad Pawar, battling a crisis in his party, will attend the meeting of Opposition parties in Bengaluru on Tuesday, a party spokesperson said. Sharad Pawar has decided to attend the meeting of Opposition parties in Bengaluru tomorrow. He will go there irrespective of what is happening here, said NCP chief spokesperson Mahesh Tapase. Top leaders of 26 opposition parties are set to brainstorm in Bengaluru on Tuesday and are likely to start the work on a common minimum programme and announce a joint agitational plan to take on the BJP in the 2024 Lok Sabha polls. Notably, Sharad Pawar's nephew Ajit Pawar and eight MLAs of NCP loyal to him joined the Shiv Sena-BJP government in Maharashtra on July 2. While Ajit Pawar was sworn in as deputy chief minister, the eight other MLAs took oath as ministers. Ajit Pawar was subsequently allocated the key finance portfolio while his camp managed to bag heavyweight ministries like Cooperation and ...

Stalin, DMK MP Baalu arrive in Bengaluru ahead of joint Oppn meeting

The opposition parties are seeking to put up a united front to take on the BJP in the 2024 Lok Sabha polls

AAP will participate in Oppn parties' meeting in Bengaluru: Raghav Chadha

The Aam Aadmi Party (AAP) will attend a meeting of opposition parties in Bengaluru to chalk out a joint strategy to take on the BJP unitedly in the 2024 Lok Sabha elections, party leader Raghav Chadha announced on Sunday. After a meeting of the AAP's highest decision making body -- political affairs committee (PAC) -- at party national convenor and Delhi Chief Minister Arvind Kejriwal's residence here, Chadha also welcomed the Congress' decision to oppose in Parliament the Centre's ordinance on the control of administrative services in Delhi. The AAP had earlier said it would join the meeting in Bengaluru only if the Congress extended its support to the AAP in opposing the Delhi ordinance in Parliament. After the PAC deliberations, Chadha announced that the AAP under the leadership of Kejriwal will participate in the opposition meeting in Bengaluru, beginning with a dinner on Monday. This will the second meeting of more than a dozen opposition parties as they seek to chalk out a jo

Mamata Banerjee to attend next opposition meet in Bengaluru on July 17-18

According to sources, eight new parties have extended their support to the Opposition parties' efforts to present a united front against the BJP ahead of the 2024 Lok Sabha polls

ZappFresh acquires Dr Meat for $3 mn to expand into Bengaluru market

Startup ZappFresh, which sells meat in Delhi-NCR through its online platform, has acquired Dr. Meat in a deal value of USD 3 million as part of its strategy to enter the Bengaluru market. The company has fully acquired Bengaluru-based Dr. Meat, a brand operated by Sukos Foods, ZappFresh said in a statement. The company did not disclose the deal value. However, the market sources said that the deal was valued at around USD 3 million. The acquisition of Dr. Meat aligns perfectly with ZappFresh's growth strategy and vision for the future, it added. ZappFresh aims to enter new markets with Bengaluru being the first target. Deepanshu Manchanda, founder of ZappFresh, said, "Dr. Meat's demonstrated ability to achieve substantial scale without compromising its bottom line resonates strongly with ZappFresh's vision. We have been profitable for the last 4 years and anticipate reaching revenue of Rs 70 crore within 12 months in Bengaluru alone, while targeting a top line of Rs 300 crore by

MD, CEO of the Bengaluru-based Aeronics Internet killed by ex-employee

While the duo died on their way to the hospital, the attacker is still on the run

Fictiv formalises investment in India as its third manufacturing hub

Digital manufacturing company Fictiv, backed by billionaire investor Bill Gates and tech-cum-manufacturing major Honeywell, on Tuesday announced the opening of its India-based headquarters in Bengaluru. After an initial launch in Pune and positive feedback from its customer base on the advantages provided by the region, the company is formalising its investment in India as its third manufacturing hub, joining its successful operations in the United States and China, Fictiv said in a statement. "India has proven to be an emerging epicentre of R&D, manufacturing talent, and supply chain excellence," said co-founder and CEO of Fictiv Dave Evans. To lead its operations in India, Fictiv has appointed Uday Shenoy as General Manager. Shenoy brings over two decades of experience to the role, including supply chain and manufacturing operational knowledge from organisations like Tata Advanced Systems Ltd., Bombardier Aerospace, Hindustan Aeronautics Ltd., and HCL Technologies. "As General .