Here’s today business news, the latest business news India today 6 November 2021.
- Finzy, a peer-to-peer lending firm, has reportedly raised $2 million in its bridge round. The funds will be used to enhance product offerings and technology for the borrowers and lenders.
- Paytm has reportedly raised ₹8235 crores in an anchor round led by many anchor investors that included- Blackrock Inc., Canada Pension Plan Investment Board, Aditya Birla MF GIC Pte. etc. and was oversubscribed by 10 times.
- Rapido, a bike taxi app, has hired Ranveer Singh and Allu Arjun for its first celebrity campaign “Smart ho, to Rapido” and to acquaint customers with the services.
- As per sources, Ola has started sub-15 minutes delivery service of groceries, pet care products, and personal care goods in Bengaluru to make a foray into the commerce sector.
- Investec Capital, a conglomerate of global financial services, will reportedly be setting up its first private credit alternative investment fund called Emerging India Credit Opportunities Fund 1 in India with a target to raise ₹1000 crore.
- Cairn Energy PLC, a Britain oil and gas explorer, which gave India its biggest on-land oil discovery, to change its name to Capricorn Energy PLC from mid-December.
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- GOI has reportedly approved the PLI Scheme to provide an environment for the conducive manufacturing of high-quality products for industries to compete globally and a level-playing field to domestic players.
- Indonesia, India, and the Philippines to join South Africa as the recipients of Climate Investment Funds, a multi billion dollar pilot programme for accelerating the transition to clean energy from coal power.
- The National Company Law Tribunal has reportedly approved the acquisition of IL&FS’s 26% stake in ONGC Tripura Power Company by GAIL India Ltd.
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- World Economic Forum has reported that Amazon, Apple, Mahindra Group and Dalmia Cement (Bharat) from India have joined the “First Movers Coalition” as its founding members to drive zero-carbon tech demand.
- According to the Confederation of All India Traders, the festive sales during Diwali crossed ₹1.25 trillion, the highest in the last decade. It is a sign of resilient demand despite high inflation.
- SBI has recently reported a 67% increase in its net profit that jumped from ₹ 4574 crores in Q2 of FY21 to ₹ 7627 crores in Q2 of FY22 aided by lower loan loss provisions.
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