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19 Mar

IIHL Targeting a Valuation of USD 50 billion by 2030: Chairman Ashok Hinduja

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Acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company Chandigarh: IndusInd International Holdings Chairman Ashok Hinduja said that with the acquisition of Reliance Capital, IndusInd International Holdings Ltd (IIHL) is targeting a valuation of USD 50 billion by 2030. He announced on Tuesday that the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday. Mauritius-based IIHL emerged as the successful suitor with…

19 Mar

PM-KISAN: Rs. 416 Cr. has been recovered from the Ineligible Beneficiaries Across the Country

MFNewsBreaking News, Business, Opinions

Government of India has disbursed over Rs 3.68 lakh Cr. through 19 installments since inception. Instalment-wise details is annexed New Delhi: The #PM-KISAN scheme is a central sector scheme launched in February 2019 by the Hon’ble Prime Minister to supplement the financial needs of cultivable land-holding farmers. Under the scheme, a financial benefit of Rs 6,000/- per year is transferred in three equal instalments, into the Aadhaar seeded bank accounts of farmers through Direct Benefit Transfer (DBT) mode. Maintaining absolute transparency in registering and verifying beneficiaries, the Government of India has disbursed over Rs 3.68 lakh Cr. through 19 installments…

19 Mar

Govt approves a new Brownfield Ammonia-Urea Complex Namrup IV Fertilizer Plant with cost of Rs.10,601 Crore

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Cabinet approves setting up of a new Brownfield Ammonia-Urea Complex Namrup IV Fertilizer Plant within the existing premises of Brahmaputra Valley Fertilizer Corporation Limited (BVFCL), Namrup, Assam New Delhi: The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has today approved the proposal for setting up of a new Brownfield Ammonia-Urea Complex of 12.7 Lakh Metric Tonnes (LMT) annual capacity of Urea production within the existing premises of Brahmaputra Valley Fertilizer Corporation Limited (BVFCL), Namrup Assam, with an estimated total project cost of Rs.10,601.40 Crore with Debt Equity ratio of 70:30 through a Joint Venture (JV), under the…

19 Mar

Cabinet approves Revised National Program for Dairy Development (NPDD)

MFNewsBusiness, Opinions, Technology

New Delhi: The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has today approved the Revised National Program for Dairy Development (NPDD). The Revised NPDD, a Central Sector Scheme, has been enhanced with an additional Rs.1000 crore, bringing the total budget to Rs.2790 crore for the period of the 15th Finance Commission cycle (2021-22 to 2025-26). This initiative focuses on modernizing and expanding dairy infrastructure, ensuring the sector’s sustained growth and productivity. The revised NPDD will give an impetus to the dairy sector by creating infrastructure for milk procurement, processing capacity, and ensuring better quality control. It is intended…

19 Mar

Prime Minister congratulates Crew-9 Astronauts

MFNewsHealth, Opinions, Technology, Travel

Sunita Williams and the Crew9 astronauts have once again shown us what perseverance truly means: PM New Delhi: The Prime Minister, Shri Narendra Modi has extended heartfelt congratulations to the Crew-9 astronauts, including Indian-origin astronaut Sunita Williams, as they safely returned to Earth. Shri Modi lauded Crew-9 astronauts’ courage, determination, and contribution to space exploration. Shri Modi said that Space exploration is about pushing the limits of human potential, daring to dream, and having the courage to turn those dreams into reality. Sunita Williams, a trailblazer and an icon, has exemplified this spirit throughout her career. In a message on…

19 Mar

Each of The Demerged Companies Has Potential to Grow into a $100 Billion Company: Vedanta Chairman Anil Agarwal

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Vedanta’s proposed demerger will create four independent natural resource-focused entities with management structures, capital frameworks, and strategic priorities Chandigarh: Vedanta Ltd. Chairman Anil Agarwal said that he envisions that each of the demerged companies has the potential to grow into a $100 billion company. In a letter to shareholders, Agarwal reaffirmed the company’s commitment to unlocking value and driving India’s natural resources sector. Vedanta’s proposed demerger will create four independent natural resource-focused entities with management structures, capital frameworks, and strategic priorities. Agarwal highlighted the need for pure-play businesses and how the proposed demerger will help Vedanta achieve this. He emphasized…

19 Mar

BMW Group India is the Luxury Mobility partner at VIP Terminal of Bengaluru International Airport

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VIP guests to be ushered in the first-ever BMW i7 and the all-electric MINI Countryman at Kempegowda International Airport #BMWVIP #BMWBengaluruInternationalAirport Bengaluru: The first-ever BMW i7 and the all-electric MINI Countryman are now official choice for all VIP movements at VIP Terminal, Kempegowda International Airport - Bengaluru. The flagship BMW and MINI cars will now be used by all dignitaries, leading businessmen and eminent personalities transiting through the VIP Terminal of Bengaluru International Airport. Mr. Vikram Pawah, President and CEO, BMW Group India, said, "At BMW Group India, we are committed to shaping the future of sustainable mobility with innovation, luxury,…

19 Mar

AIR INDIA SHOWCASES ITS FIRST RETROFITTED AIRCRAFT

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WITH NEW SEATS, MODERN CABINS AND NEW LIVERY #AIRINDIAVTEXN #VTEXN Chandigarh: Air India has welcomed its first retrofitted narrowbody aircraft, VT-EXN (A320neo aircraft), back into operations - marking an important milestone in the airline’s transformation journey. VT-EXN is the first of the 27 narrowbody aircraft inherited at the time of takeover that was elected for a complete retrofit to the new Air India standard, with new seats, carpets, curtain, cabin ambience, a three-class cabin configuration, along with a fresh coat of paint, new livery – all in the new Air India branding. VT-EXN was sent for retrofit last year. Its…

19 Mar

IHCL EXPANDS PRESENCE IN MADHYA PRADESH, SIGNS A GATEWAY RESORT IN PENCH

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This greenfield project will be branded a Gateway resort. #IHCLPENCH #IHCLPENCHMP Chandigarh: Indian Hotels Company (IHCL), India’s largest hospitality company, today announced the signing of a resort in Pench, Madhya Pradesh. This greenfield project will be branded a Gateway resort. Speaking on the occasion, Ms. Suma Venkatesh, Executive Vice President – Real Estate and Development, IHCL stated, “As one of the country’s key national parks, Pench is seeing increasing demand for quality hospitality services. This signing is in line with our strategy of expanding in high-potential tourism corridors. We are delighted to partner with Mr. Abhijit Mujumdar for this project.”…

18 Mar

National List of Essential Medicines, resulted in annual savings of approximately ₹3,788 crore to patients

MFNewsBrands, Health, Opinions

Average price reduction due to fixation or refixation of prices under Under Pradhan Mantri Bhartiya Janaushadhi Pariyojana quality medicines are offered through Jan Aushadhi Kendras at 50% to 80% lower rates than the prices of branded medicines available in the market New Delhi: The Ministry of Health and Family Welfare notifies the National List of Essential Medicines (NLEM), which is incorporated as Schedule-I to the Drugs (Prices Control) Order, 2013 (DPCO, 2013). The National Pharmaceutical Pricing Authority (NPPA) under the Department of Pharmaceuticals (DoP) fixes ceiling prices of these scheduled medicines in accordance with the provisions of DPCO, 2013. All…