Business Current Affairs

L&T Infotech announced to merge with Mindtree to become 5th-largest IT firm

L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group, on Friday announced a merger that would create India’s fifth-largest IT services provider. This combined entity will be known as LTIMindtree. This proposed integration will see Mindtree and LTI join strengths to create an efficient and scaled up IT […]

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Air Asia to merge by Tata Group with Air India

The Tata Group has been attempting to improve Air India’s performance since its takeover in January 2022. That includes its on-time performance. The Tata’s most recent job is to consolidate their aviation operations. The Competition Commission of India (CCI) has already been notified of Air India’s intention to merge with AirAsia India. Regardless of how the relevant markets are defined, the airline claims that the Proposed Combination

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PM Modi inaugurates Global Patidar Business Summit via video conferencing

PM Modi has inaugurated the Global Patidar Business Summit (GPBS) via video conferencing, it was organized by Sardardham in Surat. The summit was organised under the ‘Mission 2026’ to provide momentum for the socio-economic development of the Patidar community. The theme of GPBS 2022 is “Aatmanirbhar Community to Aatmanirbhar Gujarat and India” The Summit is organized every two years. The first two Summits

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Twitter adopts limited-term shareholder rights

Twitter’s board of directors has recently adopted a limited-term shareholder rights plan to prevent anyone from having more than 15% stake in company, the plan is also called a ‘poison pill’. This will make it harder for Elon Musk to acquire the social media company. Currently, Elon Musk has around 9% of Twitter’s shares and he has offered to acquire all

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Amends FEMA rules to allow 20% FDI in LIC

The government has amended the rules of the Foreign Exchange Management Act (FEMA) to open the way for up to 20% Foreign Direct Investment (FDI) in the Life Insurance Corporation of India (LIC). The government is also planning to dilute its stake in LIC through the Initial Public Offering (IPO). SEBI has also given approval to the draft papers and the insurer

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Jio-bp and TVS Motor to collaborate on EV solutions

Jio-bp and TVS Motor Company announced that they have agreed to explore the creation of a robust public EV charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp’s growing network in this space. Customers of TVS electric vehicles are likely to gain access to Jio-extensive bp’s charging network, which is also open to other vehicles,

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Flipkart Foundation launched for growth of rural area and women

Homegrown e-commerce giant, The Flipkart Group has constituted and launched the Flipkart Foundation, a new platform with focus on development in rural areas and providing equitable access to growth opportunities for women and other disadvantaged communities. Flipkart Group has launched the Flipkart Foundation which will aim to build an inclusive, equitable and sustainable society in the country.

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Centre extends existing foreign trade policy (FTP) by six months untill September 2022

The government is set to extend the validity of the current foreign trade policy (FTP), which provides a road map for boosting external commerce in goods and services, by 6 months through September 30, 2022. This is the fourth extension given to the existing FTP policy.

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Google Pay, Pine Labs tieup to offer ‘Tap to Pay’ for UPI users

Google Pay, in collaboration with Pine Labs, on March 30 announced the launch of Tap to Pay for UPI transactions, a feature that until now was only available for debit and credit cards. The initiative has been launched in collaboration with Pine Labs.To complete a payment, All a user will need to do is tap their phone on

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NPCI launches “UPI Lite – On-Device wallet” functionality for UPI user

National Payments Corporation of India (NPCI) will soon launch UPI Lite in India soon. It is an on-device wallet alternative for Unified Payments Interface (UPI) customers which will be in line with the central bank’s paradigm. UPI Lite will enable small-value transactions in offline mode. In phase 1, UPI Lite will process transactions in near

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