Here’s today business news, the latest business news India today 8 November 2021.
- Some of the independent directors of Future Retail have reportedly said that the Amazon deal violates the foreign exchange rules and has concealed facts, made misrepresentations and false representations to the Competition Commission of India for investment approval in Future Coupons.
- Bounce, an electric scooter rental startup, will invest $100 million over the next year across manufacturing of e-scooters and for expansion of battery swapping Infrastructure.
- TCI Express, an express logistics company, is reportedly to begin with deliveries of medicines and other immediate delivery packages using drones by the end of FY22.
- EKI Energy Services is expecting a ₹1000 crore turnover in the current fiscal year along with a 50% increase in its sales in 2022-23 in the backdrop of nations opting for net-zero emissions.
- According to Acuite Ratings and Research Agency, the volumes of commercial vehicles will pick up with the ongoing economic revival, ease in restrictions on the movement of goods by state governments, and recovery in the core infrastructure.
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- Income Tax Department has reportedly frozen deposits of an urban credit cooperative bank based in Maharashtra worth Rs 53 crores due to irregularities in the opening of accounts.
- Ola Financial Services, a subsidiary of Ola, to expand the insurance business in the international markets to support mobility services via products designed for UK, NZ, and Australian Markets.
- Post demonetization, the circulation of currency notes is on the rise, though at a slower pace, despite a surge in digital payments and people embracing cashless payments.
- According to RBI data, the circulation of the notes (in value terms) surged from Rs 17.74 lakh crore on Nov 04, 2016, to Rs 29.17 lakh crore on Oct 29, 2021.
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- According to SBI Chairman Dinesh Kumar Khara, India is all set to move into the next growth orbit after the successful implementation of the COVID-19 vaccination program.
- Dalmia Cement has switched to the use of industrial waste and biomass for protection against fuel price fluctuations and is expecting to raise ₹ 10,000 crores for its capital expenditure between FY22 and FY24 after being almost debt-free.
- According to cyber security consultancy startup CyberX9, CDSL Ventures Limited has reportedly twice exposed financial and personal data of about 4 crore Indian investors in 10 days period.
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