Business news India: Latest India business news headlines today 7 December 2021

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Here’s today business news, the latest business news India today 7 December 2021.

  • Bizongo, a platform for packaging material, owned and managed by SmartPaddle Technology, has reportedly raised about Rs 825 crore in a Series D funding round led by Tiger Global Management at a valuation of $600 Million.
  • Upscalio, a venture for management of e-commerce brands, has reportedly invested an undisclosed amount into four auto accessories brands Autofurnish, Moto Trance, Urban Lifestyles, and Destorm.
  • NCLT has reportedly admitted RBI’s plea to initiate insolvency resolution proceedings against Reliance Capital.

latest business news india today 7 december

  • Minister of State for Civil Aviation V K Singh has reportedly said that Air India has outstanding dues worth around Rs.2,350 crores to the Airports Authority of India as on September 2021. He also said that SpiceJet owes Rs.185 crores.
  • SoftBank Vision Fund 2 will reportedly invest $50 million in SenseHQ, a SaaS firm, at a valuation of over $500 million.
  • Pocket FM has reportedly raised $22.4 million in a Series B round of funding led by Lightspeed with active participation from Times Group and Tanglin Venture Partners.

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  • GoI has approved 60  large packaged food companies for PLI scheme for Food Processing Industries, a few of them are Britannia Industries Ltd, Haldirams Snacks Pvt Ltd, Gujarat Co-operative Milk Marketing Federation Ltd, etc..
  • A green loan worth $736 million from five banks has reportedly been taken by Reliance Industries to fund the purchase of Norwegian solar panel maker REC Solar Holdings.
  • Ittira Davis has been appointed as the MD & CEO of Ujjivan Small Finance Bank for a three years period.
  • Mensa Brands has announced the acquisition of Folkulture, an Indian decor label, to bolster its role in the home furnishings segment.

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  • Myntra has announced the launch of brand ‘Justice’, a young girls’ clothing and accessories seller, on its platform.
  • PTC India Financial Services, as per reports, will receive a share of about Rs 125 crore as a part of the total resolution amount from one of its stressed loans account in the thermal segment.
  • A crude oil supply deal for 2022 has been signed by Russia’s Rosneft and Indian Oil Corp, where the former will supply up to 2 million tonnes of refiner oil.
  • Electric Mobility Startup and an energy services provider, Matter, to invest Rs 1500 crore in Gujarat over next five years in areas of electric mobility generation.
  • RBI has imposed restrictions on Nagar Urban Co-operative Bank Ltd in Ahmednagar, Maharashtra including a cap of Rs10,000 on withdrawals due to deterioration in its financial position.

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