Silver Lake to invest Rs 5,655.75 cr in Jio Platforms at an equity value of Rs 4.90 lakh cr

Mumbai (IANS) In yet another major development, Reliance Industries Limited ("Reliance Industries") and Jio Platforms Limited ("Jio Platforms") announced on Monday morning that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms.

This…

After Facebook, Silver Lake to invest Rs 5,655 crore in Reliance Jio Platforms

Mumbai, May 4 (IANS) After Facebook invested over Rs 43,000 crore in Jio platforms last month, Reliance Industries Limited (RIL) on Monday announced that US private equity firm Silver Lake will invest Rs 5,655 crore (nearly $750 million) into Jio…

Implement stimulus package of 10% of GDP, make India hospitable for investment: Salve

New Delhi (IANS) Renowned legal luminary and Queen's Counsel Harish Salve said implementing a stimulus package amounting to 10 per cent of GDP on the lines of the UK and US, would not be tough for India. In an exclusive interview to IANS, Salve…

India's NPS bucks Covid induced downtrend; sees rise in AUM

New Delhi (IANS) India's National Pension System (NPS) has bucked the downtrend triggered by Covid-19 outbreak and the subsequent nationwide lockdown to contain it. During the first three weeks of April, the scheme along with the Atal…

RBI cancels banking license of CKP Co-operative Bank

Mumbai (IANS) The Reserve Bank of India has cancelled the banking licence of CKP Co-operative Bank, as its financial position has become unsustainable.

Accordingly, the RBI took the decision on April 28 which came into effect at the close of…

E-commerce players welcome relaxations in operations

New Delhi (IANS) E-commerce players have hailed the government's relaxations regarding sale of non-essential products starting May 4.

Although the government has allowed the sale of only essential products on the red zone through e-commerce…

Goyal to talk logistics, industrial activity resumption of biz leaders

New Delhi (IANS) Commerce and Industry Minister Piyush Goyal is scheduled to talk to industry representatives on Friday over video-conference regarding smooth resumption of operations and the logistical issues as the lockdown restrictions are eased.

RIL Board approves Rights Issue of up to Rs 53,125 cr, first in three decades

Mumbai (IANS) The Board of Reliance Industries Ltd (RIL) on Thursday approved a Rights Issue of up to Rs 53,125 crore at Rs 1,257 per share.

In a regulatory filing, RIL said: "At its meeting held today, i.e., April 30, 2020 considered and approved,…

Coal set for largest decline since World War II, says IEA

New Delhi (IANS) In a historic shock amid Covid-19 pandemic, coal is set for the largest decline since World War II alongside sharp reductions for oil and gas, the International Energy Agency (IEA) said on Thursday in a report.

Nuclear power…

Govt likely to announce stimulus package on Friday

New Delhi (IANS) The stimulus package for the industry hit by a lockdown of more than a month when economic activity has ground to a halt is expected to be announced soon.

The package has been in the works for a while and top government officials…