General Atlantic to invest Rs 3,675 cr in Reliance Retail ventures

Mumbai (IANS) Reliance Industries Limited on Wednesday announced that global growth equity firm General Atlantic will invest Rs 3,675 crore into its subsidiary Reliance Retail Ventures Limited to pick up 0.84 per cent equity stake in the company.

'Put RBI under Prompt Corrective Action for effective sectoral control'

Chennai (IANS) With bank after bank in private sector getting into problems, the latest being the Lakshmi Vilas Bank (LVB), the efficacy of Reserve Bank of India (RBI) as the sectoral regulator will soon be a question mark, said a top leader of a…

Steel industry writes to PMO as iron ore exports to China surge during Covid

New Delhi (IANS) India's steel industry is seeking a ban on exports of iron ore and has petitioned the Prime Minister's Office (PMO) in this regard.

Government data show that from April to August this year, India's iron ore production…

Bounce back: Mother Dairy sees revival, plans more health-based products

New Delhi (IANS) Diversified FMCG major Mother Dairy foresees business revival as the demand contraction triggered due to Covid-19 pandemic weans-off.

Talking to IANS, Mother Dairy Fruit & Vegetable's Managing Director Sangram Chaudhary…

All assets and liabilities only in India, nothing overseas, fully disclosed

New Delhi (IANS) Anil Ambani has made full and fair disclosure of all his assets and liabilities in proceedings as required in a UK Court, and he has reaffirmed that he personally holds no assets outside India.

The matter pertains to an alleged…

Govt-owned NABARD gives clean chit to Reliance Commercial Finance

New Delhi (IANS) Government owned National Bank for Agriculture and Rural Development (NABARD), the second largest lender to Reliance Commercial Finance Limited (RCF) with over Rs 1,100 crore of secured loan exposure has given clean chit to RCF and…

Rs 3L cr PLI scheme for 10 sectors to boost domestic manufacturing

New Delhi (IANS) In a major push to domestic manufacturing in the country, the government proposes to pump in over Rs 3 lakh crore through an umbrella production linked incentive (PLI) scheme that will run simultaneously in 10 identified sectors for…

RBI's role in Dhanlaxmi Bank Board should be reviewed: AIBEA

Chennai (IANS) The role of Reserve Bank of India (RBI) in the Board of Directors of Dhanlaxmi Bank (originally Dhanalakshmi Bank) should be reviewed, said a top official of the largest union in the banking sector.

Stating that the small private…

Centre plans non-tariff barriers on toy imports early next year

New Delhi (IANS) In line with its ambitious plan to make India a toy hub and self-reliant in the segment, the Union government is likely to go a step forward and impose further non-tariff barriers on toy imports.

Official sources told IANS…

GST e-invoicing mandatory from October

New Delhi (IANS) No further relaxation is likely in terms of e-invoicing as the Centre is set to go ahead with the decision to make GST e-invoicing mandatory for companies with annual turnover of over Rs 500 crore for their business-to-business transactions…