Author: TI Editor

Reserve Bank of India plans to ask lenders to follow stricter underwriting processes for gold loans and monitor the end-use of funds as it tries to cool growth in the fast-growing segment, seven people, including industry sources and those aware of the regulator’s thinking, said.According to Reuters, the RBI wants banks and non-banks to also bolster background checks on borrowers and ascertain the ownership of the gold that is being mortgaged, according to sources who spoke to Reuters”The RBI wants to ensure that the entities are following a standard protocol and any growth in the gold loan sector is not…

State-owned iron ore miner NMDC on Thursday announced the appointment of Amitava Mukherjee as its new Chairman and Managing Director. Mukherjee was holding the additional charge of CMD of the company till now.Amitava Mukherjee has been appointed as CMD on the Board of the company from the date of his assumption of the charge of the post i.e. March 6, 2025, till the date of his superannuation i.e. February 29, 2028, or until further orders, whichever is earlier, NMDC said in an exchange filing.Joining NMDC as Director (Finance) in November 2018, he held the additional charge of CMD from March…

Germany’s DHL plans to cut 8,000 jobs in Germany this year, the biggest staff reduction programme in its home market in at least two decades, responding to falling letter volumes as well as what it says is overly strict regulation.Shares rose to their highest level since February 6, 2024, on the news, which includes savings of more than 1 billion euros ($1.1 billion) by 2027. At 1415 GMT, shares were up 12.3%, the biggest gainer among German blue-chip stocks.CEO Tobias Meyer said that even though DHL raised letter postage prices recently, it wasn’t enough to shore up earnings due to…

Nestlé, the world’s largest coffee company, has launched a Nespresso boutique in Delhi’s Nexus CityWalk mall, targeting India’s affluent consumers. The boutique offers Nespresso coffee machines, priced from ₹16,500, and coffee pods. “This is the start of us tapping into a thriving coffee culture here in India. Young consumers are exposed to coffee through different trends on social media, but also coffee shops that open up. This was not a reality 15-20 years ago. Obviously they expect that from brands like ours too, and they also want to be able to replicate those at home,” said Philipp Navratil, CEO of…

Early-stage venture capital firm 3one4 Capital is planning to ramp up deep tech investments in India, apart from the 13 existing startups it has already invested in. However, the firm has no immediate plans to create a deep tech sector specific fund for now.“We want to remain a multi-sector fund, but for us, deep tech keeps becoming a more and more prominent theme every year,” Pranav Pai, chief investment officer at 3one4 Capital, told Mint in an interview.3one4 Capital has invested in deep tech startups across sectors including semiconductors, aerial mobility, AI-assisted healthcare, materials engineering, synthetic biology and autonomous UAVs.The firm currently…

Ashwini Vaishnaw, Union Minister for Electronics and Information Technology, launched the AI Compute Portal in New Delhi on Thursday. The platform is designed to provide researchers, startups, and government agencies with access to high-powered computing resources, including advanced Graphics Processing Units (GPUs), for artificial intelligence (AI) applications.At the launch, Vaishnaw announced that the government is in the process of establishing 27 AI data laboratories. He also stated that applications for developing foundational AI models had been received and are currently under review.With the approval of the IndiaAI Mission in 2024, the government has allocated ₹10,300 crore billion over five years…

Bengaluru: Fintech firm Razorpay  has announced its expansion into Singapore, its second market in Southeast Asia after Malaysia.The company plans to replicate its success in Singapore after local businesses in Malaysia experienced faster settlements and reduced transaction costs, according to its statement on Thursday. Razorpay will work closely with banks, financial institutions, and regulatory bodies to ensure seamless integration and compliance with Singapore’s financial landscape.Businesses in Singapore can now access Razorpay Singapore’s suite of services, including payment gateway, cross-border transaction solutions, and real-time financial analytics. It will also launch its international payment gateway Curlec in Singapore to strengthen its presence…

Danish drugmaker Novo Nordisk is prepared to enter the Indian market and other markets with its blockbuster drug Ozempic, despite losing patent exclusivity early next year.“Even as we face patent expiration for Semaglutide, we’ll probably still launch the product in markets and [drive] volume growth, and to do that we need to have a very large manufacturing footprint,” Lars Fruergaard Jørgensen, Novo Nordisk’s chief executive officer, said in a press briefing on Thursday.“We’re using the years of successful growth to invest in that capacity,” he added.Also Read | Investors seek answers on Novo Nordisk’s next-gen obesity drug CagriSemaNovo Nordisk’s GLP-1…

Tech giant Apple has very silently removed the M2 and M3 MacBook Air models following the launch of its new M4 variant.Just a day after unveiling the new MacBook Air with its cutting-edge M4 chip, the California-based company has discreetly discontinued sales of its older M2 and M3 models. Previously available for purchase on the company’s website, these versions have now vanished, making way for the latest iteration.Apple introduced the M2 MacBook Air in 2022, followed by the M3 model in 2024. While they are no longer sold as new by Apple, customers may still find them in the company’s…

New Delhi: The National Company Law Appellate Tribunal (NCLAT) has issued a notice to Ambuja Cements Ltd (ACL), an entity of the Adani Group, in response to a plea filed by Alok Sanghi, the former promoter of Sanghi Industries Ltd, which is now a subsidiary of ACLSanghi had challenged the National Company Law Tribunal (NCLT) Ahmedabad’s order on 25 February, which initiated insolvency proceedings against him as a personal guarantor for a default amounting to approximately ₹843 crore.The NCLT had appointed Sumit Ranjkanth as the interim resolution professional (IRP) and directed him to investigate the claims made by Ambuja Cements…