BUSINESS
Axis Bank says no exposure to Go Airlines; other lenders to be affected
However, private lender Axis Bank said on Wednesday in a regulatory filing that it has no funded or non-funded exposure to the financially-troubled Go Airlines. According to reports, banks like Bank of Baroda, IDBI Bank, and Central Bank of India have exposure to the private airline.
MobiKwik's revenue grows to Rs 560 cr in FY23, gears up for 2X growth
The company's contribution margin rose to Rs 169.5 crore in FY23 as compared to Rs 42 crore in FY22, nearly 304 per cent year-on-year growth. Fifty per cent of the company's revenue came from the distribution of digital credit products, and the rest came from its payments business.
Global edtech firms' shares tumble after Chegg's warning over ChatGPT
While Chegg's shares plunged by half, London-listed Pearson's stock fell about 15 per cent, language-learning platform Duolingo's stock went down by 10 per cent and US-listed education company Udemy dropped by more than 5 per cent on Tuesday, reports The Financial Times.
India's coal production rises 15% to 893 mn tonnes in 2022-23
Government aims to enhance production to 1,012 million tonnes in the current fiscal. In the last five years, the output of Coal India Limited (CIL) has increased by 703.21 million tonnes as compared to 606.89 million tonnes in 2018-2019 with a growth of 15.9 per cent, official data said.
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Disbursed over Rs 31 cr in claims to delivery partners in FY22-23: Swiggy
They receive comprehensive insurance coverage, including accidental medical coverage, maternity leave, and income support during accident recovery. The company has been providing insurance to its delivery partners since 2015.
Promising startups still have reason to cheer amid funding winter
A total of 4,143 VC funding deals with disclosed funding value were announced globally in Q1 2023, which is a decline of 42.1 per cent compared to the 7,158 announced deals during Q1 2022, according to GlobalData. The number of low-value VC deals (investment less than or equal to $10 million) announced globally witnessed a decline of 36.9 per cent from 4,685 in Q1 2022 to 2,954 in Q1 2023.
Paytm Travel Carnival offers exciting discounts on flights, buses, trains
With this sale, users will be able to book flight, train and bus tickets for the summer holiday season through Paytm app and get attractive discounts, said the company. The carnival will see participation from major airlines -- IndiGo, SpiceJet, GoFirst, Vistara, Akasa Air, AirAsia, and Air India. The company is offering instant discounts of up to 15 per cent on domestic and up to 10 per cent on international flight ticket bookings through bank offers from RBL Bank (Credit Card and Credit Card EMI), Yes Bank (Credit Card) and HSBC India (Credit Card and Credit Card EMI).
48% of businesses in India at low levels of digital maturity: Report
"Data innovation acts as a compass for CIOs (chief information officers), providing guidance to unlock new business opportunities and achieve digital success. By harnessing the power of data, companies can gain valuable insights to improve productivity and stay ahead of the competition," said Nigel Lee, Director of Storage - AP, Lenovo ISG.
Bitcoin trading volume tanked nearly $700 bn in April
Although Bitcoin topped over $30,400 on April 18, reaching the highest level since early June, its monthly gain was only 3 per cent, way down from 21 per cent in March and much less than gains usually seen in the fourth month of the year, according to data by BitcoinCasinos.com.
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