business news

The Reserve Bank of India (RBI) has penalized Union Bank of India with a Rs 1 crore fine and RBL Bank with a Rs 64 lakh fine for non-compliance with regulatory directions and violations, respectively. The penalties were issued after a thorough review of the banks' responses and oral submissions made during the personal hearing.

Fuel concerns affecting food security aspects and impact on inflation, fragmentation of supply chains were the three major worries in the near future, Sitharaman said during G20 Presidency briefing at Marrakech, Morocco.

Mukesh Ambani, the Chairman of Reliance Industries, has returned to the top of Forbes India's list of the 100 richest Indians, dethroning last year's richest Indian, Gautam Adani. The annual list, which tracks the fortunes of the wealthiest individuals in the country, revealed that the combined wealth of India's 100 richest people now stands at an astonishing $799 billion, despite a year of challenges and market fluctuations.

Pranjali Awasthi, a 16-year-old Indian tech prodigy, is making waves with her startup, Delv.AI. Launched in 2022, the company has raised ₹3.7 crore in funding and now holds an impressive ₹100 crore valuation. Discover her inspirational journey and the AI technology behind Delv.AI.

India's Rural Infrastructure Development Fund (RIDF) has marked a significant milestone, with state governments availing ₹4.07 lakh crore for rural development projects. The annual corpus of RIDF, established in 1995-96, has surged from ₹2,000 crore to ₹50,000 crore in 2023-24. Learn how RIDF has become a pivotal force in transforming the rural economy and its future plans.

Swiggy faces disruptions as delivery riders in Mumbai protest against changes in payout rates and extended delivery radius, affecting both food and grocery deliveries. The strike has also led some customers to switch to alternative platforms like Zomato's Blinkit.

Google CEO Sundar Pichai reassures employees in Israel amidst escalating conflict with Hamas, emphasizing the company's commitment to ensuring their safety. Other businesses with a presence in the region also prioritize employee well-being.

Adani Ports and SEZ Limited, led by Gautam Adani, issues a statement to ease investor worries following the recent Hamas attack in Israel, affirming the safety of their business operations at Haifa port.

The Supreme Court has postponed the hearing of Google's appeal against the Competition Commission of India's (CCI) Rs 1,338 crore penalty for anti-trust violations to January 2024. The case centers around Google's alleged abuse of dominance in the Android mobile device ecosystem.

Applied Materials, the US-based semiconductor equipment manufacturer, is in discussions with the Karnataka government to establish a Center of Excellence for innovation and an R&D lab in Whitefield, Bengaluru, emphasizing the importance of chemicals, gases, and ease of doing business in the semiconductor ecosystem.