Author: News Desk

Steady Growth: ₹241.43 Crore Net Collection in India Ranbir Kapoor’s latest release, “Animal,” has taken the Indian Box Office by storm, crossing the ₹240-crore mark within just four days since its December 1 release. According to industry tracker Sacnilk, the film has reported a net collection of ₹241.43 crore in India, showcasing consistent numbers even on its fourth day, where it collected ₹39.9 crore. Weekend Triumph: ₹137.73 Crore in First Three Days The film had an impressive start, collecting ₹63.8 crore on its opening day. By the end of the weekend, “Animal” had amassed ₹137.73 crore, with collections of ₹71.46…

Gautam Singhania, the Chairman of Raymond’s Group, and his wife, Nawaaz Modi, have become the talk of the town due to their dynamic presence in the business world. With Gautam Singhania’s net worth of ₹11,660 crores and a significant share in the family’s wealth, the couple’s business dealings have gained more attention, especially in light of the allegations raised by Nawaaz against Gautam. Raymond’s Group: A Business Giant Raymond’s Group stands as one of India’s foremost business families, and Gautam Singhania has been at the helm of this conglomerate. However, recent controversies, fueled by Nawaaz Modi’s accusations, have shifted the…

On Monday, Pankaj Chaudhary, the Minister of State for Finance, informed the Lok Sabha that 28 crypto exchanges and virtual digital asset service providers have successfully registered with the Financial Intelligence Unit–India. Notable names among them include CoinX, Unocoin, Bitbns, Zebpay, WazirX, Coinswitch, CoinswitchX, and Rario. In response to a query by Lok Sabha MP Lavu Sri Krishna Devarayalu regarding the applicability of anti-money laundering guidelines and reporting requirements to offshore crypto exchanges serving the Indian market, Minister Chaudhary confirmed, “Yes, the guidelines and reporting requirements are applicable to offshore crypto exchanges servicing the Indian market. The process of registration…

Allen Career Institute has successfully acquired Doubtnut, an AI-driven doubts solving platform, aiming to develop technology-centric learning solutions focused on enhancing students’ educational outcomes. Allen expressed that Doubtnut’s team will persist in refining the doubt resolution experience for students. Reports from reliable sources estimate Doubtnut’s value at $10 million in this deal. Despite previously securing $52 million in total funding from investors like WaterBridge Ventures and Peak XV Partners, the company was last valued at $154 million in January 2022. Nitin Kukreja, CEO of Allen, emphasized the importance of timely doubt resolution in education and expressed excitement about leveraging Doubtnut’s…

Kerala has earmarked a substantial budget of over INR 12,400 crore for the development of a green transport corridor, complemented by an allocation of INR 90 crore for the initial phase of the green hydrogen valley project. The comprehensive funding aims to cover all aspects of the hydrogen value chain, encompassing production, distribution, and transportation, with a focus on establishing three hydrogen valley platforms. The “Green Corridor” project, connecting the Ernakulam Town and Ernakulam Junction railway stations with a 2.5km stretch, had its detailed project report (DPR) submitted by Kochi Corporation in 2020. The state envisions the creation of two…

Launched in 2015, the Mudra Yojana Scheme is a government initiative supporting small and micro-enterprises. Highlighting its commitment to gender equality, Finance Minister Nirmala Sitharaman emphasises that women are accorded top priority under the PM Mudra Yojana scheme. This initiative is a game-changer, particularly for women entrepreneurs, providing them with crucial financial aid to kickstart or expand their businesses. Inclusive Financing for Women: Under this scheme, there’s a unique offering called the Mudra Yojana Loan Scheme or Mahila Udhyami Yojana. It’s tailor-made for women, offering loans up to Rs 10 lakhs without the need for collateral. The interest rates are low, and repayment terms are flexible,…

Indian refiners have rekindled ties with Venezuela, resuming oil purchases through intermediaries. Sources reveal that Reliance, a major player in the Indian refining sector, is set to engage with executives from Venezuela’s state-owned firm PDVSA in discussions regarding direct sales. This move comes on the heels of the temporary easing of U.S. sanctions on Venezuela, allowing for a renewed trade relationship between the two nations. Temporary Lift of U.S. Sanctions Sparks Renewed Interest The temporary lifting of U.S. sanctions in October prompted a surge in spot sales of crude and fuel from Venezuela, primarily directed towards China. India, once the…

Wipro Consumer Care-Ventures, the startup investment arm of Wipro’s consumer division, has unveiled its second fund with a substantial corpus of Rs 250 crore. This fund will be dedicated to supporting and investing in emerging consumer startups across India and Southeast Asia. Continued Focus on E-Commerce Driven Startups: The fund, according to Sumit Keshan, Managing Partner of Wipro Consumer Care-Ventures, will primarily target e-commerce driven companies from the Pre-Series A stage onward. The investment approach involves taking a minority stake, capped at 25%, while continuing the strategy of actively assisting and nurturing startups as needed. Strategic Sector Focus: Keshan emphasised…

Bitcoin surged to $40,000, marking its highest value since May 2022, as the leading digital asset extended its rebound in 2023. The increase is attributed to expectations of interest-rate reductions and growing demand from exchange-traded funds, according to a Bloomberg report. In the early hours of Monday, the cryptocurrency gained approximately 1%, reaching $40,005 in Singapore. This brought its 2023 surge to 142%. Bitcoin had last touched the $40,000 mark before the collapse of the TerraUSD stablecoin, which contributed to a broader downturn in digital assets. Investors are increasingly confident that the Federal Reserve has concluded its rate hikes as…

India’s workforce has been at the centre of a heated debate recently, sparked by Infosys co-founder NR Narayana Murthy’s controversial suggestion that the country’s youth should work 70 hours a week to compete with rapidly advancing economies. However, Kris Gopalakrishnan, another co-founder of Infosys, has a nuanced perspective on this matter. Speaking at the Infosys Prize event in Bengaluru on November 15th, Gopalakrishnan shared his thoughts on the 70-hour workweek and its implications for India’s progress. Individual Choice and Responsibilities: Gopalakrishnan emphasised the importance of individual choice in deciding the number of hours one dedicates to work. In his view,…