Why I-T portal have glitches even after 2.5 months? Finance Ministry summons Infosys CEO Parekh
Indian tech start-ups raised $6.5 bn in June quarter
IBA moves RBI seeking licence to set up ₹6,000-cr bad bank
ŠKODA unlikely to bring electric cars to India within 5 years: Executive
483 infrastructure projects show cost overruns of ₹4.43 lakh crore
3 insurance-related firms set to raise ₹10,000 crore through IPOs
Why I-T portal have glitches even after 2.5 months? Finance Ministry summons Infosys CEO Parekh
The Union Ministry of Finance has summoned Infosys CEO & MD Salil Parekh on Tuesday to explain to Union Finance Minister Nirmala Sitharaman why even after 2.5 months since the launch of the new Income Tax e-filing portal, glitches in the portal haven’t been resolved. “In fact, since 21/08/2021 the portal itself is not available” according to the ministry.
Indian tech start-ups raised $6.5 bn in June quarter
The Indian tech start-ups raised about $6.5 billion in funding in the April-June quarter in 2021, a report by Nasscom-PGA Labs said. The quarter saw 160 funding deals close, up 2%
from the January-March period. It also witnessed 11 start-ups turning unicorns, bringing the total number of unicorns in India, as of June 21, to 53.
IBA moves RBI seeking licence to set up ₹6,000-cr bad bank
The Indian Banks Association (IBA) has moved an application to the RBI seeking licence to set up a ₹6,000-crore National Asset Reconstruction Company (NARCL) or bad bank. Banks will initially transfer 22 NPA accounts worth around ₹89,000 crore to National Asset Reconstruction Company Ltd. (NARCL).
ŠKODA unlikely to bring electric cars to India within 5 years: Executive
ŠKODA AUTO India’s Brand Director Zac Hollis has said the company plans to bring electric cars to India, but it is unlikely to happen within the next 5 years.
He recently said an electric car needs to be priced below ₹20 lakh and have a range of at least 400 km on a single charge for it to work in India.
483 infrastructure projects show cost overruns of ₹4.43 lakh crore
As many as 483 infrastructure projects, each worth ₹150 crore or more, have been hit by cost overruns of over ₹4.43 lakh crore, a report by Ministry of Statistics and Programme Implementation showed. Out of 1,781 such projects, 504 were delayed. Total original cost of implementation of the 1,781 projects was over ₹22.82 lakh crore.
3 insurance-related firms set to raise ₹10,000 crore through IPOs
These include the ₹6,017-crore IPO by Policy-Bazaar-parent PB Fintech, ₹3,000-crore issue by Star Health & Allied Insurance and an IPO by Medi Assist Healthcare Service. Over 40 companies have launched IPOs this year, raising nearly ₹70,000 crore.
