India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
Tags: India
Kingfisher Airlines, Grant Thornton India Under SFIO Probe Over 'Inflated Valuation'
Serious Fraud Investigation Office (SFIO) has been probing on Vijay Mallya's Kingfisher Airlines and Grant Thornton India regarding the 'inflated valuation' that reached over Rs 4,000 crore. The valuation came out just as the airline company is dealing with a cash crunch with previous loans considered to be non-performing assets.
ICICI Bank Ltd. Funds Increased as World Asset Management Inc. and Other Hedge Funds Added Stakes
World Asset Management Inc increased its stakes in ICICI Bank Ltd thus increasing the bank’s fund. The bank will now have sufficient funds to lend to eligible borrowers who want to have their own business and houses.
India's Former Famous Smartphone, Micromax Now Scrabbles
Micromax has been the popular smartphone company in India but with the introduction of other cheaper smartphones from other companies, Micromax is now struggling to keep pace with its competitors. It is now seeking partnership for expansion to produce television and tablets outside its home country.
Nestle India's Maggi Failed Sample Tests in Uttar Pradesh, Results Show 1.85 Percent of Ash Content
A sample test conducted by Uttar Pradesh food safety officials found that Nestle’s Maggi noodles contain more percentage of ash than permitted by the regulations. However, the company has denied the accusation, stating that the claim is based on the wrong standard.
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With the release of the yearly budget many are hopeful that their lives will change for the better especially for those who live in the rural areas. The allocated budget focuses mainly on the agrarian sector, health and social and infrastructures that could help alleviate sufferings and give comfort for the less fortunate.
The King of Good Times, or Vijay Mallya, reached an agreement with spirits giant Diageo to leave the booze business. He is resigning his position as United Spirits Ltd chairman while Diageo takes full management ownership of the company.
Former Hong Kong music popstar turned venture capitalist Andrew Chung established his own firm 1955 capital. With a $200 million fund, he expects to bring clean technology to China.
Punjab drug consume is one of the higest in India. The main reason of this is unemployment and frustrated economic expectations. Another factor that plays an important role is the easy access to drugs.
Mobile startup Jana has a new influx of cash and an old industry hand as a new adviser. It recently nabbed a $57 million funding from Verizon Ventures for expansion in developing countries.
Apple Inc is planning to increase investment in India. The company recently indicated that it is eyeing the second largest market in the world for long-term investment opportunities.
Local smartphone manufacturer Ringing Bells, launched an affordable smartphone called the Freedom 251 on Wednesday. With immense support from the India government, it released the smartphone in attempt to connect every Indian.
One of India’s biggest drug maker, Cipla, has received the government’s approval allowing the company to carry out an investment agreement formed last year with Mauritius-based FIL Capital Investments. Cipla is one of the 10 companies which had their clearance while the government also rejected 5 other foreign investment proposals.
The micro venture capital (VC) funding space in India is witnessing a robust activity. A rising new breed of venture capital investors is keen on early-stage investment in startups. About 12 micro venture capital funds are operational in India.
