The Reserve Bank of India has turned down the proposal of Muthoot Finance Ltd. to acquire IDBI Bank’s mutual fund business, said sponsoring a mutual fund isn’t in consonance with the activity of an operating NBFC. According to a regulatory filing by IDBI Bank Ltd. on November 24, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.
India is probably going to post current account surplus within the current financial year as there’s moderation in import because of under heating of the economy triggered by the COVID19 crisis. This crisis is different from what the world witnessed during the taper tantrum, Said Chief Economic Adviser K V Subramanian on Monday
Mindtree Ltd. the mid-sized software services exporter signed a 5 year deal with a leading wind turbine maker company. The Nordex Group has chosen Mindtree for its business transformation partner to simplify and modernise and transform its entire IT landscape globally, while providing scalability to support the company’s growth plans, consistent with an exchange filing by the Indian company. The size of the deal, however, wasn’t disclosed.
Kolkata based Emami Ltd. is seeking to take advantage on Indian consumers slowly leaning towards homegrown brands following the government’s ‘Atmanirbhar bharat’ campaign for its newly launched home hygiene products besides tapping on increased awareness due to Swachh Bharat initiative, according Emami Ltd. Director Mohan Goenka.
A locally developed COVID-19 vaccine could complete its final trials within 2 months, raising hopes for a rapid roll – out in a country with the world’s second highest number of covid infections. Said India’s health minister on Sunday. The state-run ICMR and privately-held Bharat Biotech this month started third-stage trials of COVAXIN, in a process that would involve 26,000 volunteers, It is the most advanced Indian experimental vaccine.
Realty firm Prestige Estates Ltd. will develop 4 new housing projects in Goa, Bengaluru and Hyderabad. The company will invest nearly Rs 2,000cr amid recovery in demand for residential properties.
Elaborating on these 4projects Prestige Estates Projects ltd. Executive Director Business Development- Swaroop Anish said, The company launched a middle income housing project “Prestige Tranquil” in Hyderabad early this month.
