By siliconindia | Tuesday, 02 March 2021, 04:21 Hrs Siemens on Monday announced that it has completed the acquisition of electrical equipment manufacturer C&S Electric in India after receiving regulatory approval from the Competition Commission of India in August last year. As per the agreement, Siemens acquired around 99.22 per cent of the equity share capital of C&S Electric Limited from its promoters for Rs 2,100 crore. The acquisition comprises the Indian operations of C&S Electric s low-voltage switchgear components and panels, low and medium-voltage power bush bars as well as protection and metering devices businesses. The acquisition addresses rising demand for low-voltage power distribution in India, the company said in a statement.
By siliconindia | Tuesday, 02 March 2021, 04:12 Hrs Bank credit is seen growing 400-500 basis points (bps) higher at 9-10 per cent next fiscal as the Indian economy recovers, supported by budgetary stimulants and measures announced by the Reserve Bank of India (RBI), Crisil said on Monday. The ratings agency has already raised India s GDP growth forecast for next fiscal to 11 per cent, or 100 bps higher than what was presaged in December 2020. In the current fiscal, bank credit is seen rising 4-5 per cent despite the sharpest contraction the Indian economy has seen since Independence. In June 2020, CRISIL Ratings had expected bank credit growth in this fiscal to be 0-1 per cent.
By siliconindia | Monday, 15 February 2021, 09:11 Hrs Bengaluru-headquartered FinTech lending startup KreditBee on Monday said it has concluded its Series C equity round worth $75 million (about Rs 545 crore) from Premji Invest, Mirae Asset Naver Asia Growth Fund, Alpine Capital and Arkam Ventures consisting of both primary and secondary investment. With the current round of fund raise, the company wants to drive credit uptake in the economy especially for the unserved and underserved segment of the population. With a larger portfolio of loan products, our objective is to provide credit to over 180 million New-to-Credit customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that, Madhusudan E, Co-Founder & CEO of KreditBee, said in a statement.
With the zoo shut for a year, authorities said a loss of Rs 5 crore has been incurred
MUMBAI: Almost a year after shutting its gates to visitors, Veermata Jijabai BhosaleUdyan and zoo, popularly known as Byculla zoo, is likely to start operations next week, from February 15.
It had restricted entry to visitors on March 15 last year amid the Covid-19 pandemic.
As the garden and zoo reopens, visitors will, for the first time, also get a glimpse of the two Royal Bengal tigers named Shakti and Karishma, who were brought from Siddharth Garden and Zoo in Aurangabad city last February and kept in quarantine. They were to be put up for public viewing on March 25, 2020 but the zoo restricted entry to public a week before. The zoo authorities have created a specialized underwater viewing facility for visitors to get a glimpse of the tigers.