IIFCL plans $200 million External Commercial Borrowing by January 2025, says MD Jaishankar
State-owned diversified infrastructure lender India Infrastructure Finance Company Ltd (IIFCL) plans to raise about $200 million through external commercial borrowing (ECB) by January 2025, its Managing Director, PR Jaishankar said. “This will be IIFCL’s first ECB since its inception in 2007. So far, we have only raised funds from multilateral institutions.
IBBI proposes to make monitoring committee mandatory for all resolution plans
Insolvency regulator IBBI proposes to make constitution of monitoring committee mandatory for implementation of all resolution plans under Corporate Insolvency Resolution Process (CIRP). It has issued a discussion paper for this purpose and public comments can be sent by December 9. The proposed move is fallout of the Supreme Court
Storage in major reservoirs down on 11% post-monsoon deficient rainfall
The water storage in India’s 155 major reservoirs dropped further by 2 percentage points this week to 83 per cent of the capacity. However, the level was higher than last year and the last 10 years average (normal level), data from the Central Water Commission (CWC) showed. The levels in
India auto components industry to cross $80.1 billion revenue in FY25
India’s automotive components industry is expected to cross $80.1 billion in revenue in FY25. The industry is growing at a CAGR of 8 per cent since FY20. According to the Rubix Industry Insights – Automotive components report, the electric vehicle (EV) components contribution doubled to 6 per cent of total
Zopper raises $25 million in Series D round
Zopper, an insurtech platform, has raised $25 million in series D funding round, co-led by Elevation Capital and Dharana Capital. The round also saw participation from existing investor Blume Ventures. Zopper is also backed by Creaegis, Bessemer Venture Partners and ICICI Venture. Zopper will use this fresh funding to ramp
New office bearers for KPA
A Aravind Rao has been elected as the chairman of the Karnataka Planters Association (KPA) for the year 2024-25. M Salman Baseer was elected as the vice chairman at the 66th annual general meeting of KPA held at Madikeri, recently. M Salman Baseer, Vice Chairman, KPA Other members elected to
Indian MSMEs create about 10 crore jobs in 15 months, ETCFO
New Delhi, Nov 21 (IANS) The total number of new jobs created by micro, small and medium enterprises (MSMEs) in the country has gone up by close to 10 crore in the last 15 months, official data recorded on the government’s Udyam portal showed. New Delhi, The total number of
APEC Climate Center forecasts La Nina emerging during Dec-Feb
The APEC Climate Center (APCC) has said there is a 62 per cent chance for La Nina conditions to persist between December 2024 and February 2025 with conditions turning neutral during February-April 2025 and March-May 2025. “The APCC ENSO (El Nino Southern Oscillation) alert suggests ‘La Niña Watch’. Niño3.4 index
India’s urban development to propel GIS market growth in Asia-Pacific, ETCFO
India’s urban development to propel GIS market growth in Asia-Pacific New Delhi [India], November 21 (ANI): The geographic information system (GIS) sector in India is undergoing a revolutionary transformation, driven by urban development and cutting-edge technologies. The critical role of GIS in shaping the country’s urban and economic landscape while
SEA President favours adoption of genetically modified crops to improve oilseeds’ productivity
The Solvent Extractors’ Association of India (SEA) has said the adoption of genetically modified (GMO) crops could revolutionise oilseed productivity in the country. In his letter to the members of SEA on Friday, Sanjeev Asthana, President of SEA, said India’s oilseed production is projected to grow from 35 million tonnes