October 21, 2017
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India Aims to Find A Place in The Top 50 in Global EoDB List


The Government of India has taken steps to ensure that the country becomes a part of the top 50 in the Ease of Doing Business (EoDB) list worldwide. This list is developed by the World Bank and features countries with developed and diversified economies. The ranks are given to indicate which countries have better, simpler and less time-consuming regulations for …

IFMR Capital Welcomes A $50 Million Investment From Standard Chartered PE


Standard Chartered Private Equity, SCPE in short, has released $17 million as the first tranche of an estimated $50 million investment in IFMR Capital, the Non-Banking Financial Corporation (NBFC) which offers structured finance products such as term loans and cash credits, besides commercial borrowing services and collateralized pooled bond programmes. With existing investor Leapfrog partially selling its stake in the company, …

ED Files Money Laundering Act Against Axis Bank Branch in Noida


Amidst intense public and government scrutiny across the country as more and more accounts are seized and officials are suspended, an Axis Bank branch in Noida was handed a notice by the Enforcement Directorate (ED) after it was accused under the Prevention of Money Laundering Act or PMLA of illegally trading new notes for old scrapped notes and alleged forging a customer’s …

Infosys and IndusAge Invest in Drone Manufacturer IdeaForge: Series A Funding Raises $10 Mn


Indian start-up Ideaforge, known for its drones which are used by the Indian Army for surveillance, crowd control and other unmanned operations, has raised a reported $10 million in Series A investment from WRV Capital and IndusAge Partners. Infosys, too, has invested an unknown amount as part of its $500 Mn Innovation Fund. This new funding comes after the angel fund of …

Paytm Ties up With NHAI To Offer Cashless Toll Plaza Experience

Paytm financial services

In a move towards the establishment of a cashless experience and a digital experience, Paytm has announced a formal partnership with major NHAI (National Highways Authority of India) toll concessionaires that includes the likes of Reliance Infra, Sadhbav, IRB, MEP, L&T and GMR to enable cashless payments at all state, national and city toll plazas. Commuters across the country who …

JP Morgan Will Invest Rs 200 crores in Assetz Property Group


Global giant JP Morgan Asset Management has invested Rs 200 crore in the Assetz Property Group,which is headquartered in Singapore. Assetz develops residential and commercial properties in southern India. With this investment, Assetz Property Group has raised about $250 million for its residential projects so far. The deal is said to be signed within this week. Sources suggested that this specific investment is …

German Giant ThyssenKrupp’s Cyber Security Breached, Trade Secrets Stolen

On Thursday, a press statement released by German steelmaker ThyssenKrupp claimed that it had been targeted in ‘massive’ cyber attacks which resulted in technical data being stolen. The security breaches were attributed to unnamed attackers located in Southeast Asia. A formal criminal complaint of cyber crime has been filed with police in the state of North Rhine-Westphalia, Germany. ThyssenKrupp Hacked- Do you …

‘Make in Odisha’ Conclave Declared A Success; Doubts Linger Over Implementation


The ‘Make in Odisha‘ conclave, which began on November 30, has ended, with the Odisha government claiming that it has received an investment intent worth over Rs 2 lakh crores in variously diversified sectors. Major commitments have apparently come in from leading industrial conglomerates, with most names from the metals and minerals industry. According to a report by the International …

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