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Former billionaire and Founder of now-bankrupt crypto firm FTX, Sam Bankman-Fried, has been jailed for 25 years for his role in the massive crypto fraud. A jury found Bankman-Fried, 32, guilty on November 2, 2023 on seven fraud and conspiracy counts stemming from FTX's November 2022 collapse. Prosecutors called it one of the biggest financial frauds in US history.
short by Ankush Verma / 09:31 pm on 28 Mar
In the first collaboration between the billionaires, Mukesh Ambani's Reliance Industries has picked up a 26% stake in a Madhya Pradesh power project of Gautam Adani. Reliance will pick up 5 crore equity shares in Mahan Energen Ltd, a wholly owned subsidiary of Adani Power Ltd and will use 500 MW of generation capacity for captive use.
short by Ankush Verma / 08:37 pm on 28 Mar
₹2,000 notes won't be exchanged or deposited on April 1: RBI
short by Ankush Verma / on 28 Mar 2024,Thursday
The Reserve Bank of India (RBI) has said that the exchange or deposit of ₹2,000 banknotes will not be done on Monday, April 1, 2024, at its 19 issue offices across the country. This temporary halt is due to operations linked with the annual closing of accounts. The facility will resume on Tuesday, April 2, according to the RBI's announcement.
short by Ankush Verma / 07:52 pm on 28 Mar
Veranda Learning, a listed company offering a diverse range of training programs for competitive exam preparation, has raised Rs 425 crore through Non-Convertible Debentures (NCDs) from BPEA Credit. The company aims to infuse the raised capital in three key areas: acquisitions, refinancing of existing debts, and an enhancement of working capital.
short by Vivek / 10:20 pm on 28 Mar
Banks like AU Small Finance, Bank of Baroda, Indian Overseas Bank, SBI are offering green fixed deposits with interest rates of 5.7-8 percent at different tenures. Resident Indians, Non-Resident Indian (NRI) and High Net Worth Individual (HNI) investors are all eligible to invest in GFDs. The rates on GFD are slightly lower in many cases compared to regular FDs.
short by Sunil / 11:37 pm on 28 Mar
Indian origin CEO of IBM Arvind Krishna's journey to Rs 154 Crore
short by Akash Tiwari / on 28 Mar 2024,Thursday
Arvind Krishna has been associated with IBM for 34 years, starting his journey with the company in 1990. Over the years, he held various roles within IBM before assuming the position of CEO in 2020.His significant contributions to the company earned him the title of "Most Influential Executive" of the year in 2021 by CRN.
short by Akash Tiwari / 09:15 pm on 28 Mar
Mobikwik bags Rs 50 Cr debt funding ahead of IPO
short by Kanishk / on 28 Mar 2024,Thursday
Mobile payments startup MobiKwik is reportedly set to raise Rs 50 crore in debt funding from BlackSoil Capital via non-convertible debentures (NCD). MobiKwik's Board passed a special resolution to issue 1,000 NCDs at an issue price of Rs 5 lakh each to raise Rs 50 crore. This comes as the fintech plans to raise Rs 700 crore via IPO.
short by Kanishk / 07:37 pm on 28 Mar
Fintech startup MobiKwik has raised Rs 50 crore in debt from BlackSoil Capital. The development comes after the company refiled its DRHP with the SEBI to raise up to Rs 700 crore via IPO. MobiKwik turned profitable in the six months ending September 30, 2023, with a profit of Rs 9.48 crore on revenue of $29.3 million (Rs 381.09 crore).
short by Vivek / 10:17 pm on 28 Mar
Siblings turn sugarcane into multi-crore stylish footwear brand
short by Rashaad / on 28 Mar 2024,Thursday
With just ₹10 lakhs, siblings Parth and Karishma Dalal disrupted the footwear industry by founding Reroute in 2020. Reroute's eco-friendly sneakers made from sugarcane, combining cutting-edge technology and sustainable practices, have garnered global success. Reroute projects a multi-million-dollar revenue by 2026. Their mission is to create stylish footwear while minimizing environmental impact.
short by Rashaad / 08:37 pm on 28 Mar
NBFC firm Ambit Finvest has raised Rs 690 crore from a Japanese securities group and other existing investors. The bulk of this investment, Rs 415 crore, comes from the Japanese securities powerhouse, Daiwa Securities Group, granting them a minority stake in the company. The remaining Rs 275 crore was raised from existing shareholders, including Ambit's parent company.
short by Vivek / 06:59 pm on 28 Mar
Mumbai-based venture debt firm Alteria Capital has closed its third fund at Rs 1,550 crore, surpassing its initial target of Rs 1,000 crore. Alteria, which is known for its investments in startups like Rebel Foods and Ather, aims to continue its support across diverse sectors, including consumer brands, fintech, and emerging areas like Gen AI and spacetech.
short by Vivek / 07:07 pm on 28 Mar
Income Tax: If you have also selected the new tax regime by mistake and now you are worried about how you will save tax? So you do not need to take any tension at all. Today we will tell you about those methods through which you can avail the benefit of tax deduction in the new tax regime.
short by Sunil / 05:59 pm on 28 Mar
How to Check Live Train Status on Google Maps
short by Sunil / on 28 Mar 2024,Thursday
The new feature of Google Maps allows users to check the real-time status of the train. In the live train status feature of Google Maps, you will get many information including train arrival and delay. After the arrival of this facility on Google Maps, you can easily know the live status of the train.
short by Sunil / 11:56 pm on 28 Mar
Samsung Galaxy S22 gets bumper discount on Flipkart
short by Sunil / on 29 Mar 2024,Friday
Samsung Galaxy S22 Discount: Before knowing about the offers available on Samsung Galaxy S22 5G, you should know about its price. Although the actual price of this smartphone is Rs 85,999, but customers can buy it for only Rs 39,999 because a huge discount of 53 percent is being given on it.
short by Sunil / 12:01 am on 29 Mar
Tax pool transfer cuts Feb revenue
short by Shreya Sur / on 28 Mar 2024,Thursday
An additional installment of devolution, or a transfer to states from the central pool of taxes, could have reduced the government's revenue receipts in February. Data released by the Controller General of Accounts on Thursday showed a negative figure of Rs (-) 30,388 crore as net tax revenue for the month.
short by Shreya Sur / 05:58 pm on 28 Mar
11 children plans of mutual funds are currently in the market. These schemes invest in stocks with a long-term perspective, as children plans have a lock-in period. Children schemes have a lock-in period of at least five years or the investment remains locked until the child turns 18
short by Sunil / 11:32 pm on 28 Mar
Sam Bankman-Fried sentenced to 25 years in prison for FTX Fraud
short by Darshan Baid / on 28 Mar 2024,Thursday
Sam Bankman-Fried was ordered to forfeit more than $11 billion, and sentenced to 25 years in prison for defrauding customers and investors in the crypto exchange FTX. The sentencing hearing of Sam Bankman-Fried took place at the Manhattan Federal Court. Presiding over the hearing, Judge Lewis Kaplan declared that the former billionaire had committed perjury during his testimony trial.
short by Darshan Baid / 10:32 pm on 28 Mar
FIIs stood as net buyers in equities as per March 28 data: NSDL
short by Kalpesh / on 28 Mar 2024,Thursday
The FIIs as per Thursday's data were net buyers in equity and debt segments both, according to data released by the NSDL. In equity segment, the gross buying was of Rs 19964.98 crore against gross selling of Rs 15922.48 crore. Thus, FIIs stood as net buyers of Rs 4042.50 crore in equities.
short by Kalpesh / 05:36 pm on 28 Mar
Adoption of mutual funds will increase manyfold in ‘Bharat’
short by Vardan P / on 28 Mar 2024,Thursday
Adoption of Mutual Funds will increase manyfold in “Bharat”, which is beyond Metros/Tier I cities. We have already seen that retail folios from B30 are almost 45% of the Industry and AUM contribution is now around 18-20%. Metros have large institutional clients, hence the AUM from metros will remain high says Semant Shukla, Chief Business Officer, JM Financial Asset Management.
short by Vardan P / 07:48 pm on 28 Mar
PhonePe users can pay with UPI at NEOPAY terminals in UAE
short by Shreya Sur / on 28 Mar 2024,Thursday
Fintech firm PhonePe App users travelling to the UAE can now make payments using UPI at Mashreq's NEOPAY Terminals, the Walmart group digital payments firm said on Thursday. The transactions will be facilitated by the Unified Payments Interface. The account debit will occur in Indian rupee, showing the currency exchange rate, PhonePe said in a statement.
short by Shreya Sur / 07:54 pm on 28 Mar
AI security and risk management startup SydeLabs on Thursday said it has raised $2.5 million in its seed funding round to build solutions aimed at securing generative AI systems for enterprises.The funding round was led by RTP Global and also saw participation from Picus Capital and marquee angel investors, the startup said in a statement.
short by Kalpesh / 05:37 pm on 28 Mar
Schneider Electric, NVIDIA to optimise data center infrastructure
short by Shreya Sur / on 28 Mar 2024,Thursday
Energy management and automation major Schneider Electric on Thursday said it has collaborated with NVIDIA to optimise data center infrastructure. Schneider Electric will leverage its expertise in data center infrastructure and NVIDIA's advanced AI technologies to introduce the first publicly-available AI data center reference designs, according to a statement.
short by Shreya Sur / 05:49 pm on 28 Mar
T+0 settlement day one: 63 members participate, 329 orders placed
short by Shreya Sur / on 28 Mar 2024,Thursday
The T+0 settlement in the Indian capital market that went into action on Thursday saw the participation of 63 members in the optional segment, the BSE said. On the first day, as many as 41 members traded in 10 scrips and placed a total of 329 orders, which resulted in 90 trades, the bourse said in a statement.
short by Shreya Sur / 07:47 pm on 28 Mar
Elon Musk to give free X premium subscription to selected users
short by Prashant Singh / on 28 Mar 2024,Thursday
Elon Musk's recent announcement regarding premium features for high-profile users on X (formerly Twitter) has sparked excitement and speculation on X platform. Elon Musk said in the X post that all X accounts with over 2500 verified subscriber followers would get Premium features for free and accounts with over 5000 would get Premium+ for free.
short by Prashant Singh / 05:26 pm on 28 Mar
50% RETURN! Salasar-RVNL JV wins international contract
short by Prashant Singh / on 28 Mar 2024,Thursday
Salasar Techno Engineering Ltd. has won an order worth Rs 59.6 crore from Energy Development Corporation Limited. As per the company's stock exchange filing, the order is for designing plant, supplying and installing 45.8 km 110 KV double circuit Rukarara-Huye-Gisagara Transmission Lines for Rwanda Transmission System Reinforcement and Last Mile Connectivity project (TSRLMC).
short by Prashant Singh / 05:20 pm on 28 Mar
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