Author: News Desk

 Appointment ahead of Economic SurveyThe Union government on January 28, appointed V Anantha Nageswaran as the Chief Economic Advisor (CEA). Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds K V Subramanian, who demitted office of CEA in December 2021 after the completion of his three-year term. According to an official statement Nageswaran assumed charge on January 28.His appointment comes two days ahead of the Economic Survey for 2021-22 which is expected to give a growth projection of around 9 per cent for the next financial year as Asia’s third-largest economy is showing…

New ventures Zomato has decided to enter into the financial services business and will create a non-banking finance company (NBFC) as a wholly-owned subsidiary for the purpose. The proposed paid-up capital of NBFC will be Rs 3 crore and the authorised capital is pegged at Rs 10 crore. The name of the company is being finalised subject to approval by the Ministry of Corporate Affairs, Zomato said in a filing with the BSE. However, the subsidiary will need Reserve Bank of India’s approval to carry on the financial services business. In a stock exchange filing, Zomato had said it will…

 Google’s $1 billion investment in Airtel:Internet giant Google will invest USD 1 billion in telecom major Bharti Airtel. It includes equity investment as well as a corpus for potential commercial agreements to be identified and agreed on mutually agreeable terms for the next five years. India Digitization Fund:Google’s investment is part of its Google for India Digitization Fund. Out of the total investment, USD 300 million will go towards implementing commercial agreements. It will include investments in scaling Airtel’s offerings via innovative affordability programs as well as other offerings aimed at accelerating access and digital inclusion across India’s digital ecosystem. This…

https://youtu.be/9tDUawCtL3o Regulatory scrutiny and geopolitical unrestAlmost 30,000 Bitcoin millionaires have been wiped in the last three months as the volatile cryptocurrency is witnessing a free fall — from $69,000 in November to nearly $36,000 – owing to regulatory scrutiny and geopolitical unrest. According to data acquired by financial news portal Finbold, between October and January, the number of Bitcoin addresses holding over $1 million has reduced by 28,186 or 24.26 per cent.In general, the Bitcoin-rich list has plunged over the last three months.  “Wallets holding over $100,000 have dropped 30.04 per cent from 505,711 to 353,763. The number of addresses with…

https://youtu.be/CE7svgajkOU IPO openEdible oil major Adani Wilmar’s public issue, comprising fresh equity shares, opened for subscription and will conclude on January 31. The price band of the three day share sale is fixed at 218-230 per share. Ahead of its IPO, Adani Wilmar Ltd had raised 940 crore from anchor investors. Acquisitions plansMarket observers say that Adani Wilmar shares premium were available at Rs 44 in the grey market. The company’s shares are expected to list on stock exchanges BSE and NSE on February 8, 2022. Adani Wilmar sells cooking oils under the ‘Fortune’ brand. The proceeds of the public issue will…

 Tatas back in Air India cockpitAir India on January 27 came back to the Tata Group as the historic divestment process was finally completed with all formalities concluding successfully. Chairman of Tata Sons N Chandrasekharan met Prime Minister Narendra Modi as the officials started the final handover procedure at the Air India office in New Delhi. The old members of the board stepped down making place for the new board to take over in the first landmark privatization move in the last decade..  History of Air IndiaAir India, formerly Air-India, was established in 1932 by the legendary industrialist and philanthropist…

https://youtu.be/VMGYKMSqkss ‘Jugaad Jeep’Anand Mahindra, Chairman of Mahindra Group, is well known for his generosity of gifting Mahindra cars. Recently, he gifted a Mahindra Bolero to a person after he was impressed by the exemplary work of a man in Maharashtra. The gift to the man was due last year. Anand Mahindra was impressed by the man’s creation. He had promised to give a car and the promise was fulfilled this year with a new while coloured Mahindra Bolero.Last year, Anand Mahindra noticed a man driving a homemade car. A blacksmith from Maharashtra, Dattaraya Lohar, made a Jeep using various scrapped parts of…

https://youtu.be/kkpM7Lp3u8Q Barber G. Ramesh Babu is different. Billionaire barber G.Ramesh Babu’s success story is astounding. According to Forbes, he is one of the 140 billionaires in India with over 400 cars, including high-end brands such as Rolls Royce, Mercedes-Benz, Jaguar, BMW and Audi.Poor childhood, done all kinds of jobsRamesh Babu was born in a poor family in Bengaluru. His father was a barber in a salon on Bridge Road. Ramesh lost his father while he was studying in Class II. After his father’s death, his mother started working as a maid to support the family. The family struggled with everything from clothes,…

https://youtu.be/aR2xp7KlkxY Prestigious SUVHyundai Motor India has exported 32,799 units of the Creta SUV in the year 2021, with a growth of 26.17% year-on-year, claims Hyundai. According to Hyundai India, this makes Creta the most exported SUV in India.“HMIL is a leading SUV exporter in India with over 2.62 lakh units sent overseas with the Creta contributing to over 93% of the total SUV exports” an official said.Hyundai currently has a footprint in 100 plus countries, forming an integral part of Hyundai Motor Company’s global export hub. HMIL saw a growth of 91% in its export orders owing to the brand’s immense…

https://youtu.be/LPwfpQmg-_U Huge growth in electronics manufacturingIndia can reach $300 billion worth of electronics manufacturing and exports by 2025-26, a new IT Ministry report said. The electronics manufacturing industry grew from $37.1 billion in 2015-16 to $67.3 billion in 2020-21, The Vision Document 2.0 by the IT ministry said. It emphasized that products segments will cover mobile phones, IT hardware, consumer electronics, wearables and hearables, LED lighting etcShift in strategyAccording to the document, there is a complete shift in strategy to “Make in India for the World”.India’s domestic electronics market is estimated to reach $150-180 billion over the next 4-5 years. This…