Weekly Business News: India Business News Weekly Roundup 10 to 15 January 2022

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India Business News Weekly Roundup 10 to 15 January 2022. News on Corporates, policies, budget, start-up world, funds, funding. Here’s a roundup of all the India business news that created the buzz in India this week:india business news weekly roundup 10 to 15 january 2022

Corporates – India Business News Weekly Roundup 10 to 15 January 2022

  • RBI to set up a new and separate Fintech Department to focus and facilitate innovation in the Indian fintech sector.
  • SJVN Ltd is given the license by the Central Electricity Regulatory Commission for “Category I” for inter-state trading of Power in entire India.
  • SJVN Ltd will be setting up two grid-connected solar power projects of 125MW capacity in the Jalaun and Kanpur Dehat in Uttar Pradesh.
  • Karur Vysya Bank has notified its customers to directly pay the customs duty via the ICEGATE platform of CBIC.
  • NABARD has forged a partnership with Arthimpact Digital Loans to provide fintech solutions and forward linkage support to self-help groups.
  • GOI has notified that Vodafone Idea, Tata Teleservices, and Tata Teleservices Maharashtra will not become PSUs after the interest payable on dues is converted to government equity.
  • A central government PSU, RailTel, to set up Edge Data Centres at railway premises across Tier 2 & 3 towns in India.
  • Braithwaite and Co., a central PSU, eyes for Rs 2500 crore turnover by 2025 after achieving Mini Ratna Category l Status.

India Business News Weekly Roundup 10 to 15 January 2022

  • Rs 2,50,005.88 crore has been added in market valuation by the top eight most valued companies together in last week. The lead gainers were Reliance Industries and Tata Consultancy Services.
  • As per IRDAI data, a 7% increment from Rs 17,662.32 crore to Rs 18,953.09 crore has been notified in gross direct premium by non-life insurance companies in December 2021.
  • Paytm records a four-fold jump in the disbursement of loans, in terms of value and numbers, from its platform in December 2021. It disbursed 44 lakh loans worth Rs 2,180 crore in the current quarter. It had disbursed 8.81 lakh loans worth Rs 470 crore in 2020.

India Business News Weekly Roundup 10 to 15 January 2022

  • As per GOI data, the retail inflation based on CPI jumped to 5.59% in December 2021, as compared to 4.91% in November 2021.
  • According to NPCI data, Paytm Payments Bank Ltd. is the biggest receiver of UPI with 926.17 million transactions and SBI has emerged as the biggest remitter in December.
  • According to RBI’s data, India’s foreign exchange reserves have declined from USD 633.614 billion to USD 632.736 billion in the week ending on January 07, 2022.

India Business News Weekly Roundup 10 to 15 January 2022

  • According to Scheduled Banks’ Statement of Position in India, bank credit has grown by 9.16% from Rs 107.02 lakh crore to Rs 116.83 lakh crore and deposits by 10.28% from Rs 147.26 lakh crore to Rs 162.41 lakh crore in one year time period.
  • As per the auto industry body SIAM, the wholesales of passenger vehicles in India declined by 13% from 2,52,998 units in December 2020 to 2,19,421 units in December 2021.

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India Business News Weekly Roundup 10 to 15 January 2022

Start-up world, funds, funding and investments – India Business News Weekly Roundup 10 to 15 January 2022

  • A legal notice has been sent to Kotak Mahindra Bank by the MD of BharatPe for failing to provide finances to IPO of Nykaa.
  • VAAN Electric Moto Pvt Ltd, an E-mobility start-up, raised funds worth Rs 6 crore from an oil and gas services company, Asian Energy Services Ltd.
  • The CEO of Microsoft Corp., Satya Nadella, has now become an investor and adviser of Indian fintech firm, Groww.
  • Oye Rickshaw will deploy over 1,00,000 e-rickshaws and expand its operations to 25 cities in the current year.
  • A digital gold loan lender, Rupeek, has reported its loan bookcrossing Rs. 7,500 crore mark in 2021 indicating the financial distress caused due to the pandemic.

Start-up world, funds, funding and investments – India Business News Weekly Roundup 10 to 15 January 2022

  • LegalPay has partnered with Jumbo Finance Ltd. for providing Interim finances to companies undergoing the process of Corporate Insolvency Resolution.
  • FPL Technologies Pvt Ltd has raised around Rs 555 crore funds as part of a Series C funding round led by existing QED investors along with participation from Janchor Partners, Sequoia Capital India, Matrix Partners, etc.
  • Lohun Cleantech, a battery pack manufacturing, and recycling start-up, to raise $100 million in a Series B round of funding for increasing its capacity in the Indian market and for setting up facilities in Europe and the US.
  • Settl, a Co-Living start-up, has expanded its operations in North India by adding 200 beds across four properties in Gurugram.
  • Recognize, a technology investment platform has raised $1.3 billion for its maiden fund from endowments and investors based in the US.
  • LEAD, a school edtech platform, has raised $100 million worth of funds in a Series E funding round led by WestBridge Capital and GSV Ventures, and has joined the Unicorn club.

Some stats: India Business News Weekly Roundup 10 to 15 January 2022

  • Due to its merger with Equitas Small Finance Bank, Equitas Holdings Ltd will divest its stake in its subsidiary Equitas Technologies Pvt Ltd.
  • ANIL, a new subsidiary, has been set up by Gautam Adani for undertaking green hydrogen projects, generating low carbon electricity, and manufacturing wind turbines, batteries, and solar modules to become the world’s largest renewable energy company.
  • Reliance Industries has bought the Mandarin Oriental Hotel in New York and will be paying $98.15 million to acquire 73.37% of the hotel.
  • Oberoi Realty reported a two-fold jump in the sales bookings for the third quarter from Rs 971 crore in 2020 to Rs 1965 crore in 2021.
  • Reliance Industries Ltd and Welspun are the leading firms to acquire the bankrupt Sintex Industries.
  • Vodafone Idea has raised Rs 5000 crore via short-term loans led by State Bank of India, Induslnd Bank, HDFC Bank, and Union Bank of India.
  • Platinum Illumination Trust has bought around 5.43 crore units of Mindspace Business Parks Real Estate Investment Trusts for Rs 1,740 crore through open market transactions.
  • A six millionth vehicle unit has been rolled out by Suzuki Motorcycle from its Gurugram based manufacturing facility.
  • The First Letter of Credit has been issued by Axis Bank, on behalf of Lalit Pipes & Pipes Limited, on Secured Logistics Document Exchange.

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Tie-ups – M&As – India Business News Weekly Roundup 10 to 15 January 2022

  • Timex Group India Ltd, a leading watchmaker, has been granted the rights to manufacture, and distribute Guess & Co. branded watches in India.
  • Anupam Rasayan, a chemical maker, has signed a $95 million worth Letter of Intent with a multinational crop protection firm to supply a new life science-related active ingredient.
  • Rs 1,500 crore worth of properties in Delhi has been sold by DLF Ltd. in the 1st phase of its newly launched housing projects.
  • L&T has dispatched two large ethylene oxide reactors, weighing 1200 tonnes each, from Gujarat to the overseas petrochemical complexes.
  • NBFC Shrinithi Capital has tied up with IndoStar Capital Finance for a co-lending arrangement worth Rs 300 crores.
  • Federal Bank has launched an online lending platform, federalinstaloans.com to facilitate quick approval for MSMEs across India.
  • Fintso has collaborated with smallcase to provide investment opportunities to 15 lakh retail investors on its wealth tech platform.
  • GMR Infrastructure Ltd. has become India’s first pure-play airports listed company.
  • Tata Teleservices has announced to convert the interest amount on AGR dues into equity, and after conversion, the holdings of GOI would be around 9.5%.
  • Mercedes Benz-India aims for double-digit sales growth in the current year along with rolling out of 10 new products in the market.
  • The death claim settlement of Max Life Insurance stood at 99% in FY 2020-21, in which the company paid claims over Rs 885 crore.
  • Tata Consultancy Services has reported a 12.27% increase in consolidated net profit of Q3 that ended on December 31, 2021 from Rs 8701 crore in 2020 to Rs 9769 crore.
  • Capgemini, a technology services and consulting firm, has set up a quantum computing lab, Capgemini Q-Lab, in UK, India, and Portugal for building quantum applications.
  • Artha Energy Resources has launched a new renewable energy investment platform, RenewShare, for enabling the fractional ownership of Renewable Energy assets in India.
  • Vodafone Idea is to raise around $750 million to $ 1 billion through overseas convertible bonds to pay the dues, meet loan repayment obligations, and fund CAPEX plans.
  • Reliance Industries Ltd. to invest around Rs 5.95 lakh crore in green energy projects in Gujarat to target net-zero carbon emissions by 2035.
  • Equitas Small Finance Bank has reported a 13% rise in gross loan portfolio year-on-year basis to Rs 19,642 crore.
  • Vedanta Aluminium business has procured around 2 billion units of renewable energy in 2021 at its Aluminium Smelter in Odisha for consumption, thus, becoming the largest industrial consumer of green energy.
  • As per reports, Vedanta Group aims to acquire Bharat Petroleum Corp. by spending around $11 billion to $12 billion.
  • Adani Group to join hands with Posco, a Korean steelmaker, for the establishment of an integrated steel mill in Gujarat with $5 billion worth of investments.
  • As per the resources, Asia’s first cryptocurrency ETF could be launched in India’s GIFT city in the current year by India INX.
  • Hero MotoCorp is opening up a new flagship outlet in San Salvador and commencing retail sales to expanded its operations in El Salvador.
  • As per reports, Reliance Industries Ltd, Hyundai Motor Co., and Mahindra & Mahindra have submitted bids under the $4.2 billion battery scheme of India.
  • Sterlite Power has completely transferred its ownership in IndiGrid Investment Managers Ltd (IIML) to Electron IM Pte Ltd.
  • Vedanta Ltd plans to invest in the mineral sector of Saudi Arabia as the country aims to collaborate with global companies to become the leading producer of zinc metal.
  • Tanishq, a jewellery major, has come up with 22-karat jewellery containing 15-25% hard alloy and re-priced 15-20% lower than the existing inventory, due to a surge in gold prices.
  • Aditya Birla Fashion & Retail Ltd will be acquiring 51% major shareholding in the brand ‘Masaba’ promoted by Masaba Gupta for around Rs 90 crore.
  • Tata Sons and Tata Investment Corporation Ltd to participate in Rs 18,000 crore mega buyback offer by TCS, by selling share worth Rs 12,993.2 crore.
  • Hero MotoCorp has invested up to Rs 420 crore in Ather Energy to bring new mobility solutions.

Ongoing cases: India Business News Weekly Roundup 10 to 15 January 2022


  • Urjit Patel, the ex- RBI Governor, has been appointed as the Vice President of Asian Infrastructure Investment Bank.
  • Samrat Bedi has been roped in as the Indian Chief Executive by the Gozoop Group.
  • Venkatesh Daggubati, a South India movie star, has been roped in as a strategic investor and brand ambassador by Hyderabad-based Electric two-wheeler charging infra provider, BikeWo.
  • Shersingh B Khyalia has been appointed as the Chief Executive Officer by Adani Power w.e.f., January 11, 2022.
  • Caspian Debt, a digital corporate lending firm, has elevated the post of Vishwanatha Prasad from the manager and founder to Board Chair along with the appointment of Avishek Gupta as the new CEO and MD.
  • Vakul Agarwal has been appointed as the Vice President of growth by India’s first D2C unicorn Licious.
  • Divakar Prayag has been roped in as the head of Information Security by CoinDCX.
  • The appointment of Ittira Davis as the MD and CEO of Ujjivan Small Finance Bank for one year period has been approved by the Reserve Bank of India.

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