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India achieves full economic recovery of pre-pandemic level in Q2: Finance Ministry In its Monthly Economic Review report for November, the Ministry of Finance stated that India’s real GDP in Q2 FY22 has grown by 8.4% YoY, thereby recovering over 100% of the pre-pandemic output in the corresponding quarter of FY20. India is among the […]
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RBI grants scheduled bank status to Paytm Payments Bank Paytm Payments Bank Ltd (PPBL), a group company of Paytm, has received the Reserve Bank of India’s approval to function as a scheduled payments bank. This will help PPBL expand its business opportunities. As a scheduled payments bank, PPBL can participate in Request for Proposals (RFP) […]
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Cadila Healthcare Q2 Results: Net profit jumps over six-fold YoY to Rs 3,002 crore Cadila Healthcare Ltd reported a 534.2% YoY jump in consolidated net profit to Rs 3,002.3 crore for the quarter ended September (Q2 FY22). Net profit jumped 411.29% compared to the previous quarter. Adjusted for exceptional items and one-off gain on the […]
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HDFC Bank partners with NSIC to offer credit support to MSMEs HDFC Bank has signed a Memorandum of Understanding (MoU) with National Small Industries Corporation (NSIC) to offer credit support to micro, small, and medium enterprises (MSMEs) across India. The private sector lender will provide MSMEs with schemes to enhance their competitiveness. HDFC Bank will […]
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IRDAI grants final approval to Bharti AXA-ICICI Lombard deal ICICI Lombard General Insurance Co. Ltd has received final approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the demerger of the general insurance business of Bharti AXA General Insurance to itself by way of a scheme of arrangement. The demerger and transfer […]
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Manufacturing PMI contracts for the first time in 11 months in June Manufacturing activity in India contracted for the first time since July 2020 amidst disruptions caused due to the second wave of the Covid-19 pandemic. A decline in orders, business closures, and the Covid-19 crisis triggered a sharp fall in output among Indian manufacturers […]
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NCLT approves Kalrock-Jalan consortium resolution plan for Jet Airways The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by the Kalrock Capital and Murari Lal Jalan consortium. The Directorate General of Civil Aviation (DGCA) has been given 90 days to allot slots to the airline. The Kalrock-Jalan consortium […]

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