Business news India: Latest India business news headlines today 20 October 2021

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Here’s today business news, the latest business news India today 20 October 2021.

  • ConveGenius, an ed-tech social enterprise, has reportedly raised $5 million in its fresh funding round led by new investors 3Lines Venture Capital, BAce Capital,  and Heritas Capital.
  • RevFin, a digital lending platform offering finances for commercial e-vehicles, has reportedly raised $4 million in a pre-series A round of funding in both equity and debt led by Dheeraj Jain, the founder of Redcliffe Life Solutions along with other investors.
  • According to a recent ruling, no GST charges would be applicable on the canteen charges collected from the employees to be paid to the canteen service provider.

latest business news india today 20 october

  • Adani Group has reportedly committed 70% Capex until 2030 to the energy transition and will invest over $50-70 billion in the renewable energy value chain over the next ten years.
  • As per CRISIL, Indian banks are likely to see an increase in the gross NPA’s to 8-9% of the total lending by the end of the current FY as compared to 7.5% last year. This will be led by retail clients and MSME segments.
  • Hindustan Unilever reported a net profit of Rs.2187 crore for Q2 ended September 30 along with 11% growth in domestic consumer goods- home care, personal care, and beauty.:ET

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Latest business news India today 20 October 2021 – business news headlines today

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  • Moody’s Investors Service has upgraded the outlook for the Indian banking system from “negative” to “stable” mentioning moderate deterioration of asset quality due to pandemic and likely pic-up in the credit growth with economic recovery.
  • Reliance Industries has reportedly acquired a 52% stake in the designer labels of Ritu Kumar, a fashion designer, for an undisclosed amount.
  • As per the reports, the Indian startups raised around $11 billion in the quarter ending September 2021, double the money for the same quarter in 2020, with fintech, edtech, and SaaS firms cornering about 50% of the funding.

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Latest business news India today 20 October 2021 – business news India today

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  • Hyundai Motors has partnered with Spotify India to drive awareness for the launch of its Hyundai i20 N Line via “Discover Weekly”. This is the first time that this first flagship playlist is being sponsored in India.
  • Ekta World, a real-estate developer, has accused another real-estate developer Pashmina Realty and its directors of cheating, fraud, and siphoning off money in a Rs.1000 crore Redevelopment Project  Lake Riviera in Mumbai.
  • Tribeca, a real-estate developer, has appointed Harshwardhan Prasad as the new Chief Executive Officer to spearhead the business expansion of the company.
  • CredAble, a fintech platform offering working capital financing for enterprises, has reportedly raised $30 million as part of a Series B round of funding. The round was co-led by Plutus Wealth Management LLP and Oaks Asset Management.
  • NTPC is reportedly looking to acquire approx. 5% in Power Exchange India. PXIL is promoted by NSE and NCDEX.

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