business

The Enforcement Directorate (ED) issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, Notably, Xiaomi's chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign banks were alleged for violations of the foreign exchange law to the tune of more than Rs 5,551 crores. The Adjudicating Authority (of the Foreign Exchange Management Act) has issued the notices… read-more

The Reserve Bank of India (RBI) concluded its bimonthly monterary policy meeting, and announced a major relaxation for people. Considering inflation above the 4% target, the RBI Governor Shaktikanta Das led MPC decided to keep repo rate unchanged at 6.5%, Standing Deposit Facility Rate remains at 6.25%. Marginal Standing Facility Rate and Bank Rate unchanged at 6.75%. More announcement into the meeting is awaited.

The Securities and Exchange Board of India (SEBI) filed a response to the Adani Groups' investigation. Market regulator SEBI told the Supreme Court today that allegations that it has been investigating the Adani Group since 2016 are "factually baseless". It also cautioned against "premature and wrong conclusions" in the case. SEBI also cautioned against a "premature conclusion" of the case, justifying its request for a six-month extension.… read-more

The London Stock Groups announced to establish an excellence technology center in Hyderabad, Telangana. The BRS Minister of Information Technology KT Rama Rao and London Stock Groups official signed a memorandum of understanding in this regard. Furthermore, the new centre will help in employment and will generate 1,000 employment for Telangana. London Stock Exchange Group (LSEG) is a leading global financial market infrastructure and data… read-more

In order to intensify the border supply chain and expand businesses, international companies are making efforts and planning to invest in India. In recent, Britain is strengthening their defense, security, and economic ties with India. We have got a group of 22 British defense companies, with collective revenues of about $60 billion, really focused on doing business with and in India, said UK Indian Business Council.