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News Global Esports Announces Multi-Million Dollar Deal In Their Seed Funding Round By Venture Catalysts
India's gaming company Global Esports has announced a multi-million-dollar deal by raising their seed round of funding from Venture Catalysts. With the Esports industry growing at a rate of 38 per cent YOY, this funding will enable GE to capitalize on the growing popularity of online gaming in Asia, which has more than 50 per cent of the...
- 18 hrs ago
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News SBI Plans To Establish Nearly 10 Lakh YONO Cash Points
State Bank of India, the country's largest lender, is planning to establish nearly 10 lakh YONO Cash Points in the country over 18 months, said its Chairman Rajnish Kumar on Wednesday. The platform is secure and will eliminate the requirement of using debit cards, Kumar said. "A customer can make bill payments and can do digital transactions by using the YONO cash feature. We are...
- 18 hrs ago
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News Sensex Tumbles 268 Points; Tata Motors Tanks 9%
Benchmark equity index Sensex slumped 268 points on Wednesday, dragged by losses in ITC, HDFC, L&T and ICICI Bank as investors remained wary of an economic slowdown. After plunging 305 points, the 30-share Sensex settled 267.64 points, or 0.72 per cent, lower at 37,060.37. It hit an intra-day high of 37,406.55 and a low of 37,022.52. The broader NSE Nifty too ended 98.30 points, or 0.89 per...
- 18 hrs ago
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News NCLAT Asks Jet Lenders If They Would Cooperate With Dutch Court Administrator
The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked lenders of Jet Airways whether they would cooperate with the Dutch court administrator who is also pursuing insolvency proceedings against the debt-ridden carrier. A three-member NCLAT bench headed by Chairman Justice S J Mukhopadhyay asked the Committee of Creditors (CoC) of Jet Airways to file an...
- 18 hrs ago
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News Parle May Cut Up To 10,000 Jobs Amid Slowdown, Falling Demand
Parle Products Pvt Ltd, a leading Indian biscuit maker, might lay off up to 10,000 workers as slowing economic growth and falling demand in the rural heartland could cause production cuts, a company executive said on Wednesday. A downturn in Asia's third-largest economy is denting sales of everything from cars to clothing, forcing companies to curtail production and raising hopes...
- 21 hrs ago
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News CG Power Hits Lower Circuit Limit; Yes Bank Tumbles Over 4 Per Cent
Shares of CG Power and Industrial Solutions on Wednesday slumped 20 per cent to touch their lowest trading permissible limit for the second consecutive day amid alleged financial irregularities in the company. On the BSE, the scrip tumbled 20 per cent to touch its 52-week low of Rs 11.80. On the NSE, the shares plunged 19.93 per cent to reach their lower price brand at Rs 11.85....
- 21 hrs ago
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News DHFL Resolution: Union Bank Says Lenders May Convert Debt Into Equity
Resolving the crippled mortgage lender DHFL's over Rs 90,000 crore debt is "not so easy" and banks are considering converting their outstanding into equity, Union Bank of India said Tuesday. Rajkiran Rai, the managing director and chief executive for the state-run UBI, which is the lead-lender to the crippled housing financier, Tuesday clarified that if the...
- 21 hrs ago
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News Link Bulk Deposits To Repo For Effective Transmission Of Interest Rates: SBI Report
For effective transmission of the RBI's lower policy rates, the country's largest lender SBI on Tuesday suggested the regulator should ask banks to link incremental bulk deposits to repo rate as it would help in reducing cost of funds without hurting small depositors and senior citizens. Reserve Bank of India (RBI) Governor Shaktikanta Das has stressed...
- 21 hrs ago
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News India's GDP Growth Set To Slow Further In Apr-Jun Quarter To 5.7%: Nomura
India's economic growth is set to slow further in the April-June quarter of this year to 5.7 per cent amid contraction in consumption, weak investments and an under-performing service sector, says a Nomura report. According to the global financial services major, even though growth is set to slow further in Q2 (April-June) the economy is expected to see some recovery...
- 21 hrs ago
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News BookMyForex Partners With Yes Bank To Launch Forex Card On Visa Network
BookMyForex.com, the marketplace for foreign exchange and remittances, announces the launch of a co-branded Multi-Currency Forex Travel card in partnership with Yes Bank and Visa to offer a seamless experience to Indian overseas travellers. Customers will now be able to buy Forex Travel Cards at the click of a button on the BookMyForex platform and get free doorstep delivery...
- 22 hrs ago
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