Business Current Affairs

SIDBI launches ‘waste to wealth creation’ programme 2022

Small Industries Development Bank of India (SIDBI) has launched the ‘Waste to Wealth Creation’ programme for women in the Sundarbans in West Bengal. In this, the women will make ornaments and showpieces from the fish scales. SIDBI will extend benefits to 50 women indirectly generating revenues from alternate livelihoods. Under this programme, Later, these women are expected to become a trainer […]

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Paisabazaar.com launches ‘Paisa on Demand’ credit card in partnership with RBL bank

Paisabazaar.com, a digital platform for consumer credit, has partnered with RBL Bank Limited to offer ‘Paisa on Demand’ (PoD), a credit card that will be exclusively available on the Paisabazaar platform. To build products that offer integrated services for the large under-served segments across India. This is the third product under Paisabazaar’s neo-lending strategy. Along with the features of a

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Axis Bank set to buy Citigroup’s India retail banking business

Axis Bank Ltd. is nearing a deal to buy Citigroup Inc.’s India retail banking business in a transaction that could be valued at about $2.5 billion. An agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve Bank of India. The deal would include a cash

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Razorpay buys majority stake in Malaysian startup “Curlec” at over $19 mn valuation

Fintech unicorn Razorpay has acquired a majority stake in Curlec in a deal that values the Malaysian payments startup at over $19 million. Razorpay will fully acquire the company later in 18 months. Overall this is the fourth acquisition of Razorpay and the first acquisition in a foreign country. Prior to this, Razorpay has acquired

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Sony buys ‘Destiny’ game developer Bungie for $3.6 billion

Sony Group Corp. is purchasing Bungie Inc., the U.S. video game developer behind the popular Destiny and Halo franchises, for $3.6 billion to bolster its stable of game-making studios. The deal announced on Monday by Sony Interactive Entertainment is the third significant video-game acquisition this month, following Microsoft Corp.’s purchase of Activision Blizzard Inc. for $69 billion two weeks ago and Take-Two

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Tata Sky Rebrands itself as Tata Play

Tata Sky, one of the leading Direct to Home (DTH) platforms, has dropped the word ‘Sky’ from its name after 15 years and rechristened itself as Tata Play on January 26, 2022. The company also announced that Tata Play subscribers can now get access to Netflix via its Tata Sky Binge+ service. The new brand identity Tata Play

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SBI and Tata Power joins hand for financing solar projects

State Bank of India (SBI) on Monday said it has entered into an agreement with Tata Power Solar Systems for financing of solar projects. The lender has also set up a dedicated centralized processing cell – ‘Surya Shakti Cell’, at the Ballard Estate in Mumbai. The Surya Shakti Cell will process all the loan applications for Solar Projects

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Tata group acquires Odisha-based Neelachal Ispat Nigam Ltd (NINL) for Rs 12,100 crore

Tata Steel Long Products has won the bid to acquire Neelachal Ispat Nigam Ltd (NINL) for around Rs 12,100 crore at a time when the steel sector is going through an upturn. Neelachal Ispat Nigam Ltd (NINL) is a steel plant located in Kalinganagar in Odisha and was shut in March 2020 due to continued losses.

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NPCI to observe February 2022 as ‘UPI Safety and Awareness Month’

National Payments Corporation of India (NPCI) and the UPI ecosystem have announced the UPI Safety and Awareness initiative. NPCI and the ecosystem comprising leading banks and fintech will observe February 1 to 7 as UPI Safety and Awareness Week and the whole of February as ‘UPI Safety and Awareness Month’, said a statement on Monday. NPCI

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Meta partners with FICCI to support 5 lakh women-owned SMBs across India

Meta said on Friday that it has partnered with FICCI to enable and support 5 lakh women-led small businesses across India Meta will undertake this initiative under its #SheMeansBusiness programme, in partnership with FICCI’s ‘Empowering the Greater 50%’ initiative. The announcement was made during Meta’s inaugural National Women Entrepreneurship Summit to encourage industry dialogue around supporting the MSMEs across sectors. Meta will be extending support

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