Business - The Purbottar

20 May

Tata AIA Life Insurance Declares Its Highest-Ever Bonus of ₹2,173 Crore for Participating Policyholders in FY26

Business BureauBusiness

Tata AIA Life Insurance, one of India’s leading life insurers, has announced its highest-ever bonus payout of ₹2,173 crore for the financial year ending March 31, 2026, for its participating (par) policyholders. Over 8.74 lakh policies will benefit from this payout an 18% leap over last year’s ₹1,842 crore, and the largest bonus declaration in the Company's history.The bonus has been declared across eligible participating insurance plans, reaffirming Tata AIA's steadfast commitment to helping consumers achieve their long-term financial goals while ensuring protection for their loved ones.Among other participating plans, the bonus has been declared for key participating plans such…

20 May

Tvs Venu to take a stake in Jana Small Finance Bank

Business BureauBusiness

TVS VENU has agreed to acquire a minority stake in Jana Small Finance Bank Limited through a combination of primary issuance of warrants and a secondary purchase for an equity ownership of up to 9.9% on a fully diluted basis, which includes 4.9% to be owned by TVS Motor Company, subject to all applicable approvals. TVS VENU has a long-standing presence in India’s financial services sector through TVS Credit Services, a leading Non-Banking Financial Companies offering consumer and retail loans to millions of customers across India. It has also signed definitive agreements to acquire 100% stake in PGIM India Asset…

20 May

Shri Jayant Chaudhary Represents India at Uganda Presidential Swearing-In Ceremony

Business BureauBusiness

Shri Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development & Entrepreneurship and Minister of State for Education, Government of India, recently visited Uganda to represent India at the swearing-in ceremony of H.E. Gen. Yoweri Kaguta Museveni, President of the Republic of Uganda.During the visit, Shri Chaudhary conveyed a message of solidarity and goodwill from the Prime Minister of India, Shri Narendra Modi, and the people of India on the occasion of President Museveni assuming his seventh term in office. Highlighting the importance of political continuity and stability in fostering national development, Shri Chaudhary acknowledged Uganda’s steady progress and…

20 May

Tvs Motor Company Inducts Ravindran Shanmugam as Independent director

Business BureauBusiness

TVS Motor Company (TVSM), part of TVS Venu Group, and a reputed two and three-wheeler manufacturer globally — announced the induction of Mr. Ravindran Shanmugam as independent director of the company for a period of five consecutive years effective May 13, 2026 subject to approval of the shareholders. Mr. Ravindran Shanmugam is a seasoned technology entrepreneur and business leader with extensive experience in scaling consumer-focused businesses, digital transformation, and AI-led platforms across global markets. He is currently the Co-founder and Executive Chairman of Mablle, an AI-enabled interior design and renovation platform based in Singapore. He also worked as a management…

20 May

Sayaji Hotels enters Sikkim with launch of Effotel by Sayaji in Gangtok

Business BureauBusiness

Sayaji Hotels has expanded its presence in the Northeast with the launch of Effotel by Sayaji in Gangtok, marking the hospitality group’s entry into Sikkim’s growing tourism market. The new property, located in Tathangchen near the popular Ridge Park, was officially announced on May 15. Situated at an altitude of around 1,650 metres, Gangtok is known for its views of Mt Kanchenjunga, monasteries, lakes and vibrant tourist activity. The hotel is strategically located close to Ridge Park and MG Marg, giving visitors easy access to key cultural and commercial areas of the city. Effotel by Sayaji features 32 rooms, including…

19 May

PepsiCo India Eyes Long-Term Growth with ₹5,700 Crore Investment across Three States

nanika EditorBusiness

Food and beverages giant PepsiCo India has announced a major investment plan of up to ₹5,700 crore by 2030. The massive capital injection will primarily focus on ramping up the manufacturing capacity of its foods business across the country. Speaking on the initiative, PepsiCo’s India and South Asia CEO, Jagrut Kotecha, emphasized that India remains one of the company's top 13 global markets, offering immense potential driven by rising consumer incomes and a stable economic environment. The planned investment will be directed toward three key manufacturing facilities. These include a strategic concentrates plant in Madhya Pradesh and advanced snacks plants…

19 May

Malabar Gold & Diamonds opens first Assam showroom in Guwahati

Business BureauBusiness

Jewellery retailer Malabar Gold & Diamonds today launched its first showroom in Assam at Guwahati, marking a major step in the company’s expansion across East India. With the opening, the brand’s presence in the eastern region has increased to 21 showrooms. Spread across 8,000 square feet, the new outlet has been designed to offer a premium jewellery shopping experience with spacious displays, modern interiors and personalised customer service. The showroom was inaugurated by SonuSood along with O. Asher, Managing Director, India Operations, in the presence of senior company officials, customers and members of the local community. The showroom features a…

19 May

Oil Shock Triggers Historic Plunge: Indian Rupee Slumps to All-Time Low of 96.45 Against US Dollar

anuprova EditorBusiness

The Indian rupee plummeted to a historic low of 96.45 against the US dollar, driven down by soaring global crude oil prices and intensifying geopolitical conflicts in the Middle East. As Brent crude surged past $111 per barrel following a drone strike on a UAE nuclear power plant and stalled US-Iran peace talks, concerns over India’s expanding import bill and widening current account deficit escalated sharply. Because India relies on imports for nearly 90% of its crude requirements, higher energy costs are heavily straining domestic macroeconomic stability, accelerating wholesale inflation to 8.3%, and triggering substantial foreign investor outflows from local…

18 May

TVS Venu Group Strengthens Banking Footprint with Strategic Jana Bank Stake

nanika EditorBusiness

In a strategic move to expand its footprint in India’s financial services sector, the TVS Venu Group has agreed to acquire a minority stake of up to 9.9% in Jana Small Finance Bank Limited on a fully diluted basis. The acquisition will be executed through a combination of a primary issuance of warrants and a secondary purchase, subject to all necessary regulatory approvals. As part of the agreement, TVS Motor Company will directly own 4.9% of the equity. The TVS Venu Group, which includes prominent entities like TVS Motor, TVS Credit, and TVS Emerald, clocked a revenue of $6.5 billion…

18 May

Government pushes public sector banks, insurers to cut costs, move to EVs

anuprova EditorBusiness

The Union Finance Ministry has issued a fresh directive aimed at cost-cutting and sustainability in all state-run financial institutions. It will directly impact employees of large institutions like the State Bank of India (SBI) and the Life Insurance Corporation of India (LIC). The government has asked public sector banks, insurance companies and financial institutions to cut unnecessary expenditure in an effort to rationalise operational costs. The directive’s key measures include placing strict limits on official travel and prioritising virtual meetings over in-person ones where possible. They are also obligated to convert the corporate fleets of such state-run organizations to electric…