Business - The Purbottar

11 Mar

Gautam Adani wants to sell stake in cement business for $450 million to reduce debt

Priyanka Bhowmick0 CommentsBusinessBusiness

Adani Group Chairperson Gautam Adani is planning to sell a stake in the cement business for $450 million in a bid to reduce debt, the Financial Times reported. Adani is looking to sell a 4-5 percent stake in Ambuja Cement to international lenders, the Financial Times reported citing sources. This was done as part of a debt reduction to restore investor confidence in the conglomerate's recovery from complaints by US short seller Hindenburg Research. Earlier this week, Bloomberg reported that Adani Group paid off a $500-million bridge loan that fell due on March 9. More shares of some Adani group…

11 Mar

India Protection Quotient survey; East India feels more financially protected post-pandemic

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Max Life Insurance Company Ltd. (“Max Life”/ “Company”) unveiled the findings of the fifth edition of its flagship survey India Protection Quotient survey (IPQ)*conducted in partnership with KANTAR, the world’s leading marketing data and analytics company. The survey revealed deep insights into the financial preparedness of urban Indians living in the country’s East region. The East zone of urban India is the least financially protected region, scoring 39 on the protection quotient scale, significantly lower than the all-India score of 43. Life insurance ownership in the East zone is 76%, indicating positive financial preparedness, but it lags in financial awareness…

10 Mar

Flipkart builds an inclusive environment and empowers women across the ecosystem

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Flipkart, India's homegrown e-commerce marketplace, is committed to fostering the growth of women in the workforce and has launched two Grocery Fulfillment Centers (FCs) led almost entirely by women. The Guwahati FC, which spans 1.23 lakh square feet, is run by over 700 women employees across various roles and further strengthens Flipkart's Grocery supply chain in the neighboring cities and towns. The FC, which spans 1.23 lakh square feet, is run by over 700 women employees across various roles. This center further strengthens Flipkart’s Grocery supply chain in the neighboring cities and towns including Agartala, Aizawl, Darjeeling, Dibrugarh, Imphal, Kohima,…

10 Mar

Flipkart Launches ‘Samarth Krishi’ program to Support Farmers

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Flipkart India Private Limited today launched the ‘Flipkart Samarth Krishi’ program with the aim of providing India’s farming communities and Farmer Producer Organisations (FPOs) with national market access and more negotiation power through its platform. The 'Flipkart Samarth Krishi' program seeks to empower Indian farmers and boost the agricultural sector. It will help them grow sustainably, get market-ready, and become a part of the mainstream economy through relevant partnerships. Farmers and FPOs will be trained and upskilled on technologies and best practices for improving the quality of produce. Flipkart India has partnered with several industry and government bodies to source…

10 Mar

Shopsy offers wide variety of products at affordable prices

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Shopsy by Flipkart, Bharat's fastest-growing hyper-value e-commerce platform, has launched its new campaign with Sara Ali Khan as its brand ambassador. The campaign brings to light the platform's affordable pricing and product range curated especially for customers seeking value. The TVC is built on the insight that in Indian families, parents get annoyed when their children spend a lot of money on shopping. The campaign aims to bolster Shopsy's positioning as a value-driven shopping destination for the consumers of Bharat. The film begins with a typical scenario at breakfast time in a middle-class home where Sara's father is seated by…

10 Mar

Digital Payment Systems discussed at Global Partnership for Financial Inclusion meeting

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The 2nd meeting of the Global Partnership for Financial Inclusion (GPFI) under the G20 India Presidency began in Hyderabad on March 6. The meeting deliberated on the role of stakeholders in harnessing innovations in digital payment systems and designing payment DPIs for inclusive growth. There was also discussion on leveraging digital public infrastructure for financial inclusion and productivity gains. During the panel discussion, Dr. Ruth Goodwin Groen, MD, Better Than Cash Alliance, made a presentation on the development of innovative payment systems. This was followed by a panel discussion on ‘Symposium on Digital Payments and Remittances’. Key deliverables for the…

10 Mar

India’s Neighborhood Policy Drives its Development Assistance in Bhutan

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India takes special care of all its neighbouring countries under the ‘Neighbourhood First Policy’. Bilateral development projects are being implemented all over Bhutan with assistance from the Indian government. In line with this, the 5th Bhutan-India Small Development Project (SDP)/High Impact Community Development Project (HICDP) Committee meeting between the Royal Government of Bhutan and the Government of India for the 12th Five Year Plan (FYP) was held in Thimphu on 28th February. The Committee reviewed the progress of 524 Projects being implemented across 20 Dzongkhags and 4 Thromdes in Bhutan and approved Rs. 850 Crore for local governments in areas…

10 Mar

G20 Sherpa Amitabh Kant hosts an event

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G20 Sherpa Amitabh Kant hosted an event on ‘Building Resilient and Inclusive Economies: The Promise of Digital Public Infrastructure’. Union Minister of Communications, Electronics and IT, and Railways Ashwini Vaishnaw delivered the keynote address, while Bill Gates, Co-chair and Trustee, Bill and Melinda Gates Foundation, was the guest of honour at the event. The event also included a panel discussion between MobiKwik Chairperson and Co-founder Upasana Taku, ZestMoney Co-founder and CEO Lizzie Chapman, and Open Financial Technologies Co-founder and COO Mabel Chacko, moderated by the Sherpa. Digital public infrastructure is an important priority of India during its presidency year. A…

10 Mar

Axis Mutual Fund launched a new fund offer ‘Axis Nifty G-Sec September 2032, Index Fund’

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Axis Mutual Fund, one of the fastest growing fund houses in India, announced the launch of their New Fund Offer – Axis NIFTY G-Sec September 2032 Index Fund. It is an open-ended target maturity debt index fund investing in constituents of the NIFTY G-Sec September 2032 Index. Aditya Pagaria and Hardik Shah would be managing the newly launched fund and the minimum investment amount is Rs. 5,000/- and in multiples of Rs. 1/- thereafter. The Axis NIFTY G-Sec September 2032 Index Fund is a passive fund that will allocate 95% to 100% of its portfolio to debt instruments and the…

10 Mar

Axis Mutual Fund launched a new fund offer ‘Axis Nifty G-Sec September 2032, Index Fund’

Business Bureau0 CommentsBusiness

Axis Mutual Fund launches ‘Axis Nifty G-Sec September 2032 Index Fund’ Axis Mutual Fund, one of the fastest growing fund houses in India, announced the launch of their New Fund Offer – Axis NIFTY G-Sec September 2032 Index Fund. It is an open-ended target maturity debt index fund investing in constituents of the NIFTY G-Sec September 2032 Index. Aditya Pagaria and Hardik Shah would be managing the newly launched fund and the minimum investment amount is Rs. 5,000/- and in multiples of Rs. 1/- thereafter. The Axis NIFTY G-Sec September 2032 Index Fund is a passive fund that will allocate…