In this issue

May 23, 2023

Ola Electric secures $300-mn funding at $6-bn valuation

Electric scooter maker Ola Electric has secured $300 million (about ₹2,500 crore) in its latest funding round, which will push up its valuation to $6 billion, merchant banking sources told Business Standard on Monday.

1 min

I-T to monitor firms' advance tax payments

In a move to ensure companies do not defer their tax liabilities for the financial year, the income-tax department has decided to keep a close watch on advance tax payments by analysing India Inc's annual and quarterly balance sheets, as well as sectoral growth trends.

2 mins

NCLAT upholds order on Go First insolvency

The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the court order admitting Go First's (Go's) voluntary insolvency and asked the lessors, who had challenged the moratorium on repossession of aircraft, to approach the adjudicating court.

3 mins

RBI meet: Focus turns to PSB boards' strategic role

Lenders seek a raise in independent directors' remuneration

2 mins

Meta hit with record $1.3-billion fine in EU over US data transfers

Facebook owner Meta Platforms Inc. was hit by a record €1.2 billion ($1.3 billion) European Union privacy fine and given a deadline to stop shipping users' data to the US after regulators said it failed to protect personal information from the American security services.

2 mins

Indian steelmakers look for govt support to go the green way

Indian steelmakers are stressing the need to incentivise 'green steel' as they invest to cut down on carbon emissions.

3 mins

Reliance Retail Begins Layoffs, Some Under Watch

Following the METRO buy, it shuts some JioMart B2B warehouses as part of the integration exercise

2 mins

PhonePe raises $100 mn from General Atlantic in $1-bn round

It has so far raised $550 million from the equity firm

1 min

Typing...: 'Edit Message' On WhatsApp Now

Meta-owned messenger app WhatsApp on Monday rolled out a highly awaited feature that allows users to edit a message 15 minutes after sending it.

1 min

BPEA EQT closes in on HDFC Credila

Transaction may take place at a valuation of $1.2 billion

1 min

Petrol sales: 90% via ₹2K notes, 10% digital

Pump dealers say customers using ₹2K notes to make small purchases of ₹100 & ₹200 and asking for return in change

1 min

Impact of withdrawal to be 'very marginal': RBI

In his first public comment after the central bank announced withdrawal of ₹2,000 notes on Friday, Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said its impact on the economy will be \"very marginal\" because it constitutes only 10.8 percent of the currency in circulation.

2 mins

Online gaming bonus, incentives taxable if withdrawn: CBDT

Incentives used for playing, net winnings of ₹100 or less a month won't be subject to TDS

2 mins

Guj riots documentary: HC sends notice to BBC

The documentary casts slur on India's reputation, argues the plea

1 min

Extreme weather killed 2 mn, cost $4.3 trn in 50 years: WMO

India lost over 130,000 lives; most economic damage seen in US, while 9 in 10 deaths worldwide took place in developing countries

2 mins

QR as a code for marketing

While marketers have started using it in innovative ways across consumer touch points, the QR code's full potential is yet to be tapped, experts say

4 mins

The political glass ceiling in Karnataka

Women politicians in Karnataka have limited representation in the state's power circles, despite rising participation by women voters.

2 mins

All 10 Adani stocks gain, group m-cap back in ₹10-trn league

Conglomerate sees best day since Hindenburg report as SC panel report boosts confidence

2 mins

MFs invest ₹9.5K cr in '23; buy IT shares on dips

Stocks attractive as downside risk is limited and most negatives are priced in: Experts

1 min

Bears on prowl leave scars on a third of Nifty50 stocks

Analysts believe the market is likely to remain choppy in the near term

2 mins

Read all stories from Business Standard

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Business Standard is India's leading business daily.
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