Author: NNI Editor

Bank of Baroda Ltd., under the guidance of Reserve Bank of India (RBI) and in collaboration with a fintech firm, has unveiled a pilot of what it called new functionality for merchants built on the “programmability” of the Central Bank Digital Currency (CBDC) – the “Merchant Loyalty/Cashback Programme” This industry-first initiative would enable small and medium merchants to independently design and launch loyalty/cashback programmes for their customers using Bank of Baroda’s “bob Merchant App”, the lender said in a statement. Merchants such as local retail shops, grocery stores and pharmacies that have an account with Bank of Baroda and are registered on…

Banks will stay conservative in the short run while lending to non-banking finance companies (NBFCs) due to fears of performance in the sector, according to Pankaj Naik, Director of India Ratings and Research (Ind-Ra).“They [banks] will take a cautionary stance because all is not well in the NBFC sector,” he said.Mr. Naik noted that both secured and unsecured loans were showing signs of stress in NBFCs. Asset quality pressures will show up in FY26, he added. Mr. Naik further said a gradual increase in bank’s exposure to NBFCs would be concentrated on the ones with higher rating.“They will focus on…

The Union government is seeking to cut the central tax revenues that states receive, three sources with the direct knowledge of the matter said.The suggestion will be made to the constitutionally-appointed Finance Commission of India, which makes recommendations on tax sharing along with other aspects of federal-state fiscal relations, and could lead to a flaring of tensions between the two tiers of government.The panel, headed by economist Arvind Panagariya, will submit its recommendations by October 31 to be implemented from fiscal year 2026-27. The recommendations are binding.The Union government will recommend the share of taxes going to states be reduced…

The likelihood of India’s key export products to the U.S. attracting higher tariffs ranging from 5% to 20% [in case the Union government fails to nullify the action by providing increased market access and buying more technology from the U.S.), could negatively impact India’s gem & jewellery exports to that market, as per a study conducted by the Gem & Jewellery Export Promotion Council (GJEPC), India’s apex trade body. India’s gold jewellery exports to the U.S. could decrease by as much as 50% to $1.5 billion and the loss of 20 tonne of jewellery can lead to direct job less for…

Austin-based private equity firm Haveli Investments has acquired major stake in AppViewX, one of the globally top three among automated certificate lifecycle management companies, for an undisclosed sum.AppViewX, headquartered in New York with centres in Coimbatore and Bengaluru and to be headed by Dino DiMarino as its CEO, will look at 30% business growth annually.Anand Purushothaman, founder and Chief Technology Officer of AppViewX, and Mr. DiMarino told the media in Coimbatore on Thursday that its clients include new age companies, auto manufacturers, banking, finance and insurance firms, and healthcare institutions in different geographies globally. The company recently entered the Indian…

The U.S. Food and Drug Administration (U.S. FDA) has issued a warning letter to generic drugmaker Granules India’s finished dosages and pharmaceutical formulation intermediates manufacturing facility in Gagillapur, near Hyderabad. While manufacturing and distribution of existing products continue unaffected from the facility, the warning letter may, however, temporarily impact the regulator’s review of pending product submissions, from the site, until the issue is resolved, the company said in a filing on Thursday. The February 26 warning letter is related to the agency’s inspection of the facility from August 26 to September 6 and issue of six observations. Current good manufacturing…

This image released by Disney shows characters Pumbaa, voiced by Seth Rogen, bottom, and Timon, voiced by Billy Eichner, in a scene from “Mufasa: The Lion King.” | Photo Credit: Disney Technicolor India, a studio owned by Technicolor Group of Paris, that develops visual effects (VFX) and animation graphics for many full length feature films of Hollywood movie production houses, is shutting down its operations in India, in Bengaluru and Mumbai, as part of the group’s global closure.The company employs 3,200 people in India of which close to 3000 people are in Bengaluru while it has a global headcount of over…

Ashok Jegadeesan, Director of Yaazh Naturals, briefing Prime Minister Narendra Modi at Bharat Tex in New Delhi recently about yoga mats woven at his company. | Photo Credit: SPL Yoga mats that are handwoven and coloured with natural dyes by a weaving unit in Salem district will soon turn smart, alerting the users if the yoga postures are not right, the time spent doing yoga, the calories burnt, etc.This is based on a suggestion given by Prime Minister Narendra Modi to Ashok Jegadeesan, director at Yaazh Naturals Private Limited (which makes handwoven yoga mats, yoga towels, meditation mats, etc.) at…

National Company Law Appellate Tribunal (NCLAT), Chennai, on Thursday (February 27, 2025) set aside the insolvency proceedings against Coffee Day Enterprises Limited, which runs Cafe Coffee Day chain.NCLAT, which earlier reserved its order, pronounced the ruling on Thursday (February 27, 2025) and the detailed order copy is awaited.In a stock exchange announcement, the company said the NCLAT allowed its appeal and set said the National Company Law Tribunal (NCLT) last year’s order initiating the insolvency proceedings. V.G. Siddhartha’s and Café Coffee Day’s rise through the yearsLast week, Coffee Day Enterprises had said the corporate insolvency resolution process against it has been resumed…

As far as the domestic commercial vehicle (CV) industry is concerned, it is expected to register a marginal growth in FY26. File Photo: www.icra.in Passenger vehicle sales volume in India is expected to grow at a moderate pace of 4-7% in FY26 with most demand drivers remaining neutral or favourable, according to ratings agency ICRA.As for two-wheelers, ICRA said it estimates the industry volumes to grow at a healthy pace of 6-9% in FY26, following an estimated 11-14% growth in FY25.Passenger vehicle (PV) industry volumes reached an all-time high of 4.2 million units in FY24. In year-to-date (YTD) FY25, wholesale…