Dual investor interest surfaces in SpiceJet; equity infusion up to Rs 1,500cr anticipated

New Delhi (IANS) In what looks like a significant development for SpiceJet, two major investors have expressed interest in injecting equity into the airline, sources in the know of things claimed.

The airline's board is set to convene on…

Govt to make GIFT City global hub of new age finance & tech services: PM Modi

New Delhi,(IANS) Prime Minister Narendra Modi on Saturday said the government wants to take GIFT IFSCA beyond traditional finance and ventures and make it the global nerve centre of new age global financial and technology services.

Addressing…

India poised to become $30 tn economy by 2047: Piyush Goyal

New Delhi (IANS) Commerce and Industry Minister Piyush Goyal on Friday said that India was poised to become a $30 trillion economy by 2047 with the collective efforts of the government and industry pushing towards an exponential growth rate to achieve…

RBI retains repo rate at 6.5%, GDP growth at 7%, inflation at 5.4%

Chennai (IANS) As predicted by economists, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.5 per cent.

Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta…

Global investors, Central Bank heads, regulators express confidence in India’s growth story: RBI Governor

Chennai (IANS) Global investors and Governors of various central banks and other regulators are showing greater confidence in the potential of Indian economic growth and the country’s capacity to grow, said Shaktikanta Das, Governor, Reserve Bank…

Sarvam AI raises $41 mn led by Lightspeed, largest by an Indian AI startup

Bengaluru (IANS) Indian generative AI startup Sarvam AI on Thursday said it has raised $41 million in its Series A round led by Lightspeed and supported by Peak XV Partners and Vinod Khosla-run Khosla Ventures.

This represents the largest raise…

Dunzo fails to pay Nov salaries to its present employees: Report

New Delhi (IANS) Homegrown quick-grocery delivery provider Dunzo has failed to pay November salaries to its current employees, despite partnering with OneTap, a revenue financing firm, earlier this year, media report said on Thursday.

Earlier…

Govt going for vote on account on Feb 1, no big bang announcements: Sitharaman

New Delhi, Dec 7 (IANS) Finance Minister Nirmala Sitharaman has said that the upcoming Union Budget on February 1, 2024 to be presented in Parliament ahead of the Lok Sabha elections will not be a regular budget but only a vote on account so the government…

India’s EV market can touch $100 bn revenue by 2030 if key issues addressed: Report

New Delhi (IANS) India's electric vehicle (EV) market has the potential to achieve over 40 per cent penetration with $100 billion revenue by 2030, a substantial increase from the current 5 per cent penetration, if the policymakers address some…

Ola Electric's net loss surges to Rs 1,472 cr in FY23 as expenses grow

New Delhi (IANS) Bhavish Aggarwal-driven Ola Electric’s net loss nearly doubled to Rs 1,472 crore in FY23, from Rs 784.1 crore in the previous fiscal year, as expenses surged significantly.

The IPO-bound electric vehicle company reported an…