After a four-month suspension, Adani Group has revived its investment plan for India's largest polyvinyl chloride (PVC) plant, Mundra Petrochem Ltd, Mint reported on Wednesday. For this, it has received in-principle approval for a credit line of up to Rs 14,000 crore from several banks.

The project's total cost is expected to be around Rs 35,000 crore.

Bharti Airtel has won the cloud and content delivery network (CDN) mandate from the Digital India Corporation (DIC) for the DIKSHA (Digital Infrastructure for Knowledge Sharing) platform, which is the Centre's national platform for open education digital content.

DIC is under the aegis of the Ministry of Education (MoE), Government of India.

Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller.

In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another USD 700 million in loans taken for the acquisition of Ambuja Cement.

Aditya Birla Group on Tuesday announced its foray into the branded jewellery retail business with its new venture Novel Jewels Ltd. The company will invest Rs 5,000 crore to set up large-format exclusive jewellery retail stores with in-house jewellery brands across the country.

Aditya Birla Group's foray into branded jewellery retail marks a pivotal moment in our storied legacy of building businesses underpinned on trust.

The Centre has directed banks to make sure that all deposit accounts and safe deposit boxes have a nominee, said a report by The Economic Times (ET).

This comes as both the Reserve Bank of India (RBI) and the government are working to reduce unclaimed deposits with commercial banks totaling around Rs 50,000 crore.

Shares of cement manufacturers were in focus in an otherwise subdued market, with a sector giant UltraTech Cement hitting a 52-week high, while Ambjua Cements surging 4 per cent on expectations of profitability likely to improve in fiscal 2024, owing to softening of coal and pet coke prices.

Among individual stocks, UltraTech Cement hit a 52-week high of Rs 8,049, up 2 per cent on the BSE in Tuesday’s intra-day trade. The stock surpassed its previous high of Rs 7,972.95, touched on May 30, 2023. It had hit a record high of Rs 8,267 on November 8, 2021.

On its 32nd Foundation Day, the Software Technology Parks of India (STPI) and the Ministry of Electronics and Information Technology (MeitY) held a conference on "Growth Avenues for the Indian IT Industry and Emerging Tech Ecosystem" in Delhi on Monday.

Speaking at the event, Alkesh Kumar Sharma, secretary, MeitY stated, "Today, the world is talking about digital transformation. India is moving from e-governance to digital governance, where each service has to be online."

The boards of banks should hold the management accountable for its actions, and should replace it if it does not meet expectations, M Rajeshwar Rao, deputy governor of the Reserve Bank of India (RBI), said in an interaction with board members of banks.

“Boards should appraise the performance of management objectively and ensure that they are held accountable for their actions. If the management is not meeting expectations, boards should take suitable action, including replacing the management, to improve the bank's governance and risk management,” Rao said in his speech at the conference of the directors of banks.

Emotions ran high at the San Siro when Zlatan Ibrahimovic, also known as Ibra, announced his retirement after AC Milan's final match of the 2022-2023 season.

Ibrahimovic, set to turn 42 in October, decided to depart Milan as his contract drew to a close. Before the kick-off of Sunday's game, the fans in the stands energetically chanted his name and displayed a banner reading "Godbye," a sight that brought Ibra to tears, reports Xinhua.

The Insurance Regulatory and Development Authority of India (Irdai) has asked the insurance companies to undertake "suo motu" settlement of claims for the victims of the Odisha train tragedy, The Economic Times (ET) reported on Monday. The insurers have been asked to "immediately" contact the administration and get the list of those who have died or been injured.

Under suo motu settlement, the companies settle the claims even without the other parties applying for it. This is usually done after natural disasters.

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