Invest in India News

  • Lupin seeks more time from commerce ministry to complete project in Indore SEZ

    New Delhi, Apr 18 () Drug firm Lupin has sought more time from the commerce ministry to complete its project, with proposed investment of Rs 205.69 crore, in the Indore Special Economic Zone (SEZ).

    The company is setting up its pharma unit in Indore SEZ to manufacture pharmaceutical formulations - metered dose inhalers and dry powder inhalers.

  • DeMo: ED seizes 146 kg gold jewellery worth over Rs 82 cr of Hyderabad group

    New Delhi, Apr 18 () About 146 kg of gold jewellery worth over Rs 82 crore has been seized by the ED after searches at the premises of a Hyderabad-based jeweller and his associates in connection with a post demonetisation money laundering case, the agency said Thursday.

  • DCB Bank net profit rises 50 pc to Rs 96 cr in March quarter

    New Delhi,  Private sector DCB Bank Thursday said its net profit rose by 50 per cent to Rs 96 crore during the fourth quarter ended March on healthy core income and restricted bad assets.

    The bank's net profit was Rs 64 crore in the corresponding January-March quarter of 2017-18.

  • Corporate ministry withdraws memo barring manufacturing entities from operating as LLPs

    NEW DELHI: The ministry of corporate affairs (MCA), late on Tuesday night, issued an 'update' on its website withdrawing the contentious memo that had restricted entities engaged in manufacturing from registering as a Limited Liability Partnerships (LLPs). This memo had also restricted private companies engaged in manufacturing from converting into LLPs.

  • Government targets IRCTC, IRFC IPOs by September, to raise about Rs 1,500 crore

    NEW DELHI: The government is targeting to raise about Rs 1,500 crore from initial public offerings (IPOs) of two railway companies -- IRCTC and IRFC -- by September, an official said. The finance ministry earlier this year initiated the process of launching an IPO of Indian Railway Finance Corporation (IRFC) but the company has told the railway ministry that their borrowing cost will go up if it gets listed, the official said. A final call on this would be taken by the Union Cabinet.

  • BoM partners with M1Xchange for MSME bill discounting

    New Delhi, Apr 17 () State-owned Bank of Maharashtra (BoM) Wednesday said it has partnered with M1Xchange TReDS platform for MSME bill discounting.

     Trade Receivables Discounting System (TReDS) is a digital platform to support micro, small and medium enterprises (MSMEs) to get their bills financed at a competitive rate through an auction where multiple registered financiers can participate.

  • WPI inflation hits 3-month high in March on costlier food, fuel

    NEW DELHI: Annual wholesale price inflation (WPI) jumped in March to its highest level in three months on the back of a spurt in prices of food and fuel, posing a fresh challenge for policymakers to remain watchful on the price front.

    Official data released on Monday showed inflation, as measured by the wholesale price index, rose an annual 3.2% in March, higher than previous month’s 2.9% and above 2.7% posted in the same month a year earlier .

  • BookMyShow invests in fintech firm AtomX

    Online ticketing platform BookMyShow (BMS) Tuesday said it has invested in Pune-based payments technology company, AtomX.

    "This further strengthens the company's market leadership in out-of-home entertainment landscape across ticketing, producing and managing on-ground operations across various live entertainment experiences," BMS said in a statement.

  • K'taka mining dependents stage protest at Jantar Mantar

    New Delhi, Apr 16 () Mining dependents of Karnataka Tuesday staged a protest here at Jantar Mantar to press for nondiscriminatory practices in iron ore trade in the state and sought immediate action by the Centre in "rescuing their livelihoods from prejudiced policies" prevailing in the state.

  • Khadi sales zoom 28%, KVIC eyes Rs 5,000 crore in FY20

    NEW DELHI: Khadi doesn’t seem to have been hit by any demand slowdown, with sales rising 28% to Rs 3,215 crore in 2018-19, making it one of the most rapid rise in recent years.

  • Cabinet approves MoU between India and Bolivia on Cooperation in the field of Geology and Mineral Resources

    The Union Cabinet chaired by Prime Minister Narendra Modi has given ex-post facto approval to the Memorandum of Understanding (MoU) between India and Bolivia on Cooperation in the field of Geology and Mineral Resources. The MoU was signed in Bolivia in March, 2019.

     

    Impact:

  • Low-carbon, green and climate resilient urban infrastructure is the need of the hour: Vice President

    Creation of green infra, solar & water conservation must form part of town planning;

    Promote Public Transport, reduce dependency on fossil fuel: VP tells town planners

    Calls upon Asian countries to promote clean and green technologies;

    Inaugurates 4th Resilient Cities Asia-Pacific (RCAP) Congress 2019

  • Solo loans drive growth in credit to MSMEs

    Mumbai: Micro loans availed by borrowers in their individual capacity for business have been the fastest growing segment in commercial credit. According to data compiled by TransUnion Cibil and Sidbi, micro loans to individuals have grown at 19.2% year-on-year as on December 2018 as compared to 14.4% growth in overall bank credit. There is an increasing number of small businessmen borrowing in individual capacity as access to credit improves.

  • Ministry of Rural Development presents Recommendations for Fostering Higher Inclusive Growth to the Finance Commission.

    The Ministry of Rural Development headed by Secretary Shri Amarjeet Sinha, today made a detailed presentation on the Ministry’s plans on fostering higher inclusive growth, equity, efficiency and transparency – to the Chairperson Shri N.K. Singh and Members and senior Officials of the Fifteenth Finance Commission.

     

  • INS Shikra hosts Naval Investiture Ceremony

    The Naval Investiture Ceremony for 2019 was held at the naval helicopter base INS Shikra of Western Naval Command (WNC), Mumbai on 10 Apr 19.