Business news India: Latest India business news headlines today 16 October 2021

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Here’s today business news, the latest business news India today 16 October 2021.

  • We Founder Circle, a startup led by founders, has announced ‘EvolveX’ a We Founder Circle Accelerator Programme, to provide guidance and seed funding to early-stage growth-driven companies.
  • Pankaj Kumar Panja’s appointment as non-executive chairman of Karnataka Bank has been approved by RBI.
  • Larsen & Turbo has launched L&T EduTech a new-industry led and practical oriented hybrid online learning platform to create industry-ready talent.

latest business news india today 16 october 2021

  • Tala, a Fintech platform, has reportedly raised $145 million as part of Series- E round of funding led by Upstart. Stellar Development Foundation also participated.
  • Air India’s accumulated losses reportedly rose to Rs.77,953 crores in FY 20-21 from Rs.70,820 crores in FY19-20.
  • Toyota Motors Corp has announced a cut in planned global output by 15% for the month of November due to shortages of chips but would revamp in December by sticking to its full-year production targets.

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  • Urban Company has announced changes in the payment policy for service partners by reducing the highest commission it charges from beauty service professionals to 25% from 30% along with increasing prices of high-demand services.
  • RBI has approved the re-appointment of Amitabh Chaudhary as the Managing Director of Axis Bank for three years period.
  • According to the RBI data, the forex reserves of India has increased by $2.039 billion to $ 639.516 billion from $637.477 billion in the week that ended on October 08, 2021.
  • Ahmednagar-based Malpani Group has reportedly submitted a bid of around Rs.500 crores to acquire Imagicaaworld that owes its lenders around Rs.1020 crores.

Must Read: 16 October ke Mukhya Samachar

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  • Reliance has reportedly picked up a stake of 40% in MM Styles owned by Manish Malhotra, an Indian couture brand. It is aimed to bolster the portfolio of Reliance’s homegrown designer labels.
  • The sale of homes in Mumbai is a big hit with the registration of over 400 apartments in a day through the Navrati period despite an end to stamp duty rebates that were applicable earlier.
  • On the occasion of Dussehra, PM Narendra Modi has launched seven state-run defence PSUs carved out of over 200 years old Ordnance Factory Board.
  • DGCA has reportedly suspended SpiceJet’s licence for the transportation of ‘dangerous goods’ for 30 days due to alleged violations.

Must Read: Aaj ka panchang 16 October 2021

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