OYO trims 10% of its workforce, aims 250 new hires

New Delhi (IANS) Hospitality major and IPO-bound OYO on Saturday said it is downsizing 10 per cent of its 3,700-strong workforce, laying off 600 employees while hiring 250 fresh members in the team.

OYO is merging its product and engineering…

Homegrown smart TV brands capture record 22% market share in India

New Delhi (IANS) Indias smart TV shipments grew 38 per cent (on-year) in the third quarter (Q3) and the share of homegrown brands showed the fastest growth to register a record 22 per cent share of the overall shipments, a new report showed on Friday.

Fintech platform KreditBee raises $80 mn, aims to diversify portfolio

New Delhi (IANS) Leading fintech platform KreditBee on Friday said it has raised $80 million as part of its ongoing Series-D investment round, as it aims to cross asset under management (AUM) of more than $1 billion over the next 6-9 months.

The…

RBI's Monetary Policy Committee may hike policy rate by 25-35 bps: Experts

Chennai (IANS) The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may hike the repo rate between 25-35 basis points (bps) in its upcoming meeting, said experts.

"We expect a 35 bps rate hike in the upcoming meeting. The Consumer…

India public cloud market to reach $13 bn by 2026: Report

New Delhi (IANS) The overall India public cloud services market is expected to reach $13 billion by 2026, growing at a compound annual growth rate (CAGR) of 23.1 per cent for the 2021-26 period, an IDC report said on Thursday.

The India public…

BS-IV vehicle scam: ED attaches assets worth Rs 22cr; Ashok Leyland says probe not against it

Chennai/New Delhi (IANS) The probe by the Enforcement Directorate (ED) is against a scrap customer and not against Ashok Leyland, said a top company official.

The Enforcement Directorate (ED) on Wednesday said that it has attached properties…

Reliance Capital COC rejects all bids, decides liquidation

Mumbai (IANS) The Committee of Creditors (COC) of Reliance Capital (RCAP), in its meeting held on Wednesday, has decided to reject all the binding bids that it received from the bidders on Monday.

The COC is now considering sending Reliance…

RBI's MPC to meet soon; decision of Nov 3 meeting under wraps contrary to law

Chennai (IANS) The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is expected to meet soon to decide on the repo rate to contain inflation.

The MPC had met on November 3, to discuss what it would tell the central government…

Domestic air passenger traffic crosses 4-lakh mark for two straight days

New Delhi (IANS) For two continuous days, domestic air passenger traffic in the country crossed the four-lakh mark during this weekend.

Airlines carried 4,05,963 passengers on Saturday and operated 2,767 flights. The growth continued even on…

DHFL 34,615 cr loan fraud case: Money laundered via 87 shell firms

New Delhi (IANS) The Central Bureau of Investigation (CBI) in its charge sheet lodged in the Rs 34,615 crore DHFL loan fraud case has said that the accused created 87 shell companies and 2,60,000 fake borrowers to launder money. The charge sheet was…