BUSINESS
CBI to seek two week custody of ex-NSE CEO Chitra Ramkrishna
The Central Bureau of Investigation (CBI), which arrested the former Managing Director (MD) and Chief Executive Officer (CEO) of National Stock Exchange (NSE) Chitra Ramkrishna on Sunday night, is likely to seek two week custodial remand of her.
Russian banks switch to Chinese UnionPay after withdrawal of Visa and MasterCard
The step, which came shortly after Mastercard and Visa pledged to cease operations in Russia and disconnect all the country's banks from their payment systems, will enable the holders of new cards to use them for paying and withdrawing cash abroad, RT reported. On Saturday, international financial service providers Visa and Mastercard said they would suspend operations in Russia within the next several days.
NSE ex-CEO Chitra Ramkrishna arrested by CBI
Arrested from her Delhi residence, Ramkrishna will be produced before the Rouse Avenue Court on Monday, and the agency will seek her custody for questioning. Earlier, ex-Group Operating Officer Anand Subramanian was arrested on the night of February 24 after several rounds of questioning. He was later sent to CBI custody till March 6. The CBI is trying to corroborate the evidences collected by them with the questioning of Subramanian.
CredAvenue fastest Indian fintech unicorn after raising $137 mn
Debt marketplace CredAvenue on Sunday announced that it is India's fastest fintech to join the unicorn club with a Series B fundraising round of $137 million. The fundraising round was led by New York-based global private equity and venture capital firm Insight Partners, B Capital Group, and Dragoneer, with participation from existing investors. As a result, the company's post-money valuation has grown to $1.3 billion.
Scam dark period of NSE history, says court denying Ramkrishna anticipatory bail
The Delhi court, which dimissed the anticipatory bail plea of National Stock Exchanges's (NSE) former Managing Director and CEO Chitra Ramkrishna in the fraud case, termed the scam as a "dark period" in the bourse's history. The Rouse Avenue Court's order, accessed by IANS, shows that the court was not happy with the conduct of Ramkrishna as NSE chief.
Time ripe to revise fuel prices as crude hits decade high
Fuel prices have been steady since early November when the Centre reduced excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively, apparently as a Diwali gift to the citizens. Since then a lot has happened on the global crude oil price front. Since early November, benchmark Brent crude oil prices have risen 66 per cent to $118 per barrel.
Shell defends decision to purchase Russian crude oil
Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine, BBC reported. The oil giant said in a statement that the decision to purchase the fuel at a discounted price was "difficult". It confirmed that it had bought a cargo of Russian crude oil on Friday but it had "no alternative".
Startups need to start taking corporate governance seriously
The controversies surrounding BharatPe has brought the spotlight upon the need for a robust corporate governance in startups in India. According to the Economic Survey 2021-22, India has become the 3rd largest ecosystem for startups in the world on the heels of the US and China. There are over 61,400 startups in India with 95 of them having achieved 'unicorn'
Market Forecast | Outlook: Election results, global risks to guide equities markets
Geopolitical tensions emanating from the Russian-Ukrainian conflict as well as crucial state assembly election results will determine — key equity indices — movements next week. Besides, macro-economic industrial production data along with the direction of foreign fund flows and global commodities price movements will impact investors' sentiments.
Surviving two bankruptcies, four friends turn dairy startup into Rs 225 crore business
When three friends from Jharkhand's Ranchi ditched their well-paying corporate jobs, excellent career prospects and a steady roof above, to start a dairy farm, everyone warned them about the precarity of owning a challenging business.
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