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Patanjali, DS Group to acquire Magma General Insurance

Sanoti Properties LLP, owned by Adar Poonawalla, has approved the sale of its insurance subsidiary, Magma General Insurance Limited (formerly Magma HDI General Insurance Company Limited), to Patanjali Ayurved Limited and DS Group for approximately ₹4,500 crore, subject to regulatory approvals. The transaction is structured as per a Share Purchase Agreement (SPA), with Celica Developers...
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RBI Governor meets with fintechs, PSOs

Reserve Bank of India Governor Sanjay Malhotra today met with non-bank Payment System Operators (PSOs) and fintechs along with their associations and self-regulatory organisations in Mumbai, according to a statement. The interaction was a part of the RBI’s series of engagements with the payments and fintech ecosystem. Earlier, the RBI Governor had met with heads...
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Infibeam partners with Sutex Cooperative Bank for enhancing net banking facility

Infibeam Avenues Ltd’s flagship payment gateway brand, CCAvenue, has partnered with The Sutex Co-operative Bank Ltd to help bolster the bank’s net banking facility. The new collaboration will enable Sutex Co-operative Bank Ltd to route secure direct debit digital payments to its merchants, including multi-currency payments, simplifying transactions for both businesses and customers, stated an...
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HDFC Bank has launched Project HAKK (Hawai Anubhavi Kalyan Kendra) to provide support and services to Indian Air Force (IAF) pensioners, veterans and their families.

HDFC Bank has launched Project HAKK (Hawai Anubhavi Kalyan Kendra) to provide support and services to Indian Air Force (IAF) pensioners, veterans and their families. In this regard, the Bank has signed a Memorandum of Understanding (MoU) with the IAF acting through the office of the Assistant Chief of Air Staff – Accounts & Air...
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Banking system liquidity deficit may spillover into at least Q1FY26, requiring continuation of infusion measures, say experts

While the Reserve Bank of India (RBI) has doubled down on liquidity injection measures to help banks tide over liquidity deficit in the run up to the financial year (FY) end, fixed income market experts expect the deficit pressure to spillover into at least the first quarter of FY26, requiring continuation of these measures. Further,...
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GTRI Urges Government to Withdraw Mandatory Quality Control Norms on Steel Fasteners

New Delhi, Mar 13 (KNN) The Global Trade Research Initiative (GTRI) has called on the government to withdraw the mandatory quality control norms on steel fasteners, warning that their implementation will disrupt industrial supply chains and create regulatory challenges. The Quality Control Order (QCO), issued by the Department for Promotion of Industry and Internal Trade (DPIIT) in...
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When consumption push and fiscal consolidation go hand in hand

The budget this year came in the background of an economic slowdown led by weak urban consumption and lower government capex. Hence, finance minister (FM) Nirmala Sitharaman was expected to stimulate growth while continuing on the path of fiscal consolidation. The budget has delivered on this by incentivizing urban consumption through tax cuts while continuing...

Kerry Washington invests in wedding marketplace Cheersy

Kerry Washington is expanding her angel investment portfolio, serving as lead investor in the pre-seed round of the wedding marketplace Cheersy.  Cheersy, which was founded in 2024 by Amy Shack Egan, helps couples find day-of service wedding coordinators and has raised a total of $550,000, from other investors including Christina Tosi, the founder of Milk...

Tax changes in budget will increase bank deposits by ₹40,000-45,000 crore: DFS secretary M Nagaraju

The finance ministry expects ₹40,000-45,000 crore to flow into banks as deposits from the various tax changes announced in the Budget, including raising the tax-free income level to ₹12 lakh, financial services secretary M Nagaraju said during a media interaction on various Budget proposals on Monday. Union Budget 2025, which finance minister Nirmala Sitharaman presented...

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