Business - The Purbottar

09 Jun

Rajiv Bajaj Relinquishes Finserv Directorship, Prioritizes Growing Responsibilities at Bajaj Auto

nanika EditorBusiness

In a major corporate development, Rajiv Bajaj, the Managing Director of Bajaj Auto, will step down from the board of Bajaj Finserv. According to a stock exchange filing on Tuesday, the veteran industrialist, who serves as a non-executive director, has informed the company that he will not seek re-election at the upcoming Annual General Meeting (AGM) scheduled for July 31. Consequently, he will officially cease to be a director of the financial services holding company upon retirement by rotation. The decision stems from Rajiv Bajaj’s desire to reduce his external commitments and focus entirely on his multiplying responsibilities at the…

08 Jun

JK Lakshmi Cement Bets on Solar + Battery Storage: Udaipur, Durg Plants to Get Green Push by Oct 2026

Preeti SinghBusiness

With the objective of reducing electricity costs across its projects, JK Lakshmi Cement Limited has approved an investment of up to ₹24 crore in two solar power projects. Under this initiative, the company will acquire a 26% stake each in 'Dinos Park Private Limited' and 'Elevate Solar Energy'.Through this scheme, new solar power projects will be set up at the Udaipur and Durg units. The project in Udaipur will feature a 25 MW capacity solar plant coupled with a 20 MW battery storage system. On the other hand, a solar power project with a capacity of 17.14 MW will be…

08 Jun

Jayant Chaudhary inaugurates daycare facility at Kaushal Bhawan

Business BureauBusiness

Union Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education, Jayant Chaudhary inaugurated a new daycare facility for children of employees at Kaushal Bhawan, the headquarters of the Ministry of Skill Development and Entrepreneurship (MSDE), in a move aimed at promoting a more inclusive and family-friendly workplace. Spread across nearly 600 square metres, the facility has been designed to provide a safe, nurturing and child-friendly environment for children aged between six months and six years. It includes sleeping and resting areas, play and activity zones, age-appropriate learning resources, hygienic washrooms, child-friendly furniture, and…

08 Jun

TVS Motor launches premium retail channel TVS Paddock to elevate ownership experience

Business BureauBusiness

TVS Motor Company has announced the launch of TVS Paddock, an exclusive retail channel dedicated to its premium motorcycle portfolio, as the company seeks to strengthen its presence in India’s fast-growing premium mobility segment. The new retail ecosystem aims to provide customers with a bespoke ownership journey by combining immersive brand experiences, personalised consultations, specialised service capabilities and enhanced aftersales support under a single platform. The initiative marks a key milestone in TVS Motor’s premium mobility strategy and reflects changing consumer preferences for personalised and experience-driven products. TVS Motor said the new retail philosophy brings together motorcycles, community engagement, merchandise,…

08 Jun

Xiaomi launches Xiaomi 17T with Leica-powered camera and AI features

Business BureauBusiness

Xiaomi India on Saturday launched the Xiaomi 17T, a new flagship smartphone that combines Leica-powered imaging, AI-driven features, immersive display technology and a large-capacity battery, as the company seeks to strengthen its position in the premium smartphone segment. The Xiaomi 17T features a Leica-powered triple-camera system led by a 50MP main sensor and, for the first time in the Xiaomi T Series, a Leica 5x periscope telephoto camera. The device also introduces Leica Live Moment and Leica Live Portrait, aimed at enhancing photography and storytelling through richer visual experiences. The smartphone sports a 6.59-inch 1.5K AMOLED display with up to…

08 Jun

Snapchat sees 10-fold advertiser growth in India as brands target Gen Z audiences

Business BureauBusiness

Snapchat has reported a sharp rise in advertiser adoption in India, with the number of advertisers on the platform increasing tenfold over the past two years and the number of advertisers spending across all four quarters tripling during the period. The company attributed the growth to rising demand for immersive advertising formats, expansion of Chat as a high-attention advertising surface, and investments in AI-powered targeting and advertising tools. With more than 250 million users in India, Snapchat said it has become a key platform for brands seeking to engage Gen Z consumers, a demographic that currently accounts for 43 per…

08 Jun

RBI keeps rates unchanged; Kotak Mahindra Bank sees hike cycle from October

Business BureauBusiness

The Reserve Bank of India (RBI) kept key policy rates and its monetary policy stance unchanged, while continuing to monitor inflationary pressures and global economic developments, according to market reactions following the central bank's latest policy announcement. Reacting to the policy decision, Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank, said the RBI had expectedly maintained both rates and stance, while highlighting amplified risks on the inflation front. She noted that the central bank remains cautious amid evolving macroeconomic conditions and inflation concerns. Bhardwaj said the bank expects a cumulative 50 basis points rate hike cycle to begin from October…

07 Jun

LIC in Talks with RBI and SEBI to Expand Long-Term Investment Instruments Amid Annuity Surge

nanika EditorBusiness

State-owned Life Insurance Corporation of India (LIC) is actively engaging with major financial regulators, including the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), to expand the availability of long-term investment instruments. LIC Managing Director and CEO R. Doraiswamy revealed that this proactive outreach is driven by a massive, continuous surge of inflows into the corporation’s annuity and pension products. Annuity products convert a policyholder's retirement corpus into a guaranteed, lifelong stream of income, creating long-tailed liabilities for LIC that can span up to 50 years. To safely match these extended liabilities, the insurance…

07 Jun

Tech and Customer Support Sectors Bear the Brunt of Accelerating AI Workforce Cuts

anuprova EditorBusiness

A relentless wave of artificial intelligence adoption has triggered a profound shift across the global workforce, with the technology, media, and telecommunications sector alongside customer operations suffering the most severe disruption. As corporate giants aggressively scale up spending on generative AI models and data centers, executive leadership teams are leveraging high-level automation to significantly downsize their workforces. This sudden operational transition has debunked early projections that automation would take decades to materialize, proving instead that routine, rule-based digital tasks can be completely substituted overnight at a fraction of human labor costs. The legal, administrative, and technology sectors are experiencing unprecedented…

06 Jun

Meesho’s PRISM Engine Leverages 100+ AI Models to Drive Shopping in ‘Bharat’

nanika EditorBusiness

In a major shift for online retail, Meesho announced that more than 75 percent of its platform orders now originate from personalized product feeds. This surge is powered by its proprietary AI recommendation engine, known as PRISM. The system represents a fundamental shift away from traditional, keyword-based search bars, catering instead to a growing demographic of users who prefer browsing over typing. Serving an enormous user base of 264 million annual transacting users, PRISM analyzes real-time shopper behavior and intent signals. According to Meesho's Chief Data Scientist, Debdoot Mukherjee, the next hundred million Indians coming online will discover products through…