Kotak Mahindra Bank has finalized a deal to acquire a personal loan portfolio worth Rs 3,330 crore from Standard Chartered Bank. This transaction comes after KMB had previously entered into an agreement to purchase a personal loan book of Rs 4,100 crore from Standard Chartered Bank, subject to regulatory approval.
Patanjali Foods Ltd disclosed that the food regulator FSSAI has directed the company to recall a specific batch of packed red chilli powder due to non-compliance with food safety standards. The Food Safety and Standards Authority of India (FSSAI) issued the order on January 13, as mentioned in a regulatory filing by the company.
NHPC has established a joint venture with Andhra Pradesh Power Generation Corporation Ltd (APGENCO) for the development of renewable energy projects. The newly formed entity, APGENCO NHPC Green Energy, was incorporated on January 23.
Bank of India (BoI) has approved raising funds worth Rs 5,000 crore through infrastructure bonds. The bank stated in a regulatory filing that Long Term Infra Bonds amounting to Rs 5,000 crore will be raised in the fourth quarter of FY25.
The board of IDBI Bank has sanctioned the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer for a period of three years starting from March 19, 2025. This decision was made in accordance with the approval received from the Reserve Bank of India (RBI).
VST Industries informed the exchanges about an inspection initiated by Central GST authorities at the offices and factory premises of the company in Telangana. The company is cooperating fully with the inspection process and ensuring that business operations continue uninterrupted.
In a strategic move, Central 1 Credit Union has engaged Intellect Design Arena Ltd to take over its digital banking operations. This decision follows Central 1’s plan to wind down its digital banking services in October 2024.
IREDA’s board has given the green signal to raise Rs 5,000 crore through a Qualified Institutional Placement (QIP), subject to necessary approvals.
Adani Wilmar has begun operations at its integrated food processing plant in Haryana with the dispatch of 100 tonnes of rice. The plant, built with a capital outlay of Rs 1,298 crore from IPO proceeds, is expected to create significant employment opportunities in the region.
TAC Security Inc., a subsidiary of TAC Infosec in the US, has proposed the establishment of a wholly owned subsidiary – Vulman Ltd in the UK to deliver comprehensive cybersecurity solutions.
BPCL’s board has approved the submission of a development plan for the Nunukan block’s oil and gas reserves in Indonesia, to be executed by its subsidiary Bharat PetroResources Limited (BPRL).
Jyoti Structures has secured a project worth Rs 741.28 crore from PowerGrid Corporation of India for Package 01 of the ± 800 kV HVDC Bipole Line between KPS2 (HVDC) and Nagpur (HVDC).
Bondada Engineering announced an MoU with the Assam government for setting up a hybrid renewable energy plant in Assam under the UNNATI Scheme. The project, with an estimated investment of Rs 450 crore, aims to establish a 100 MW facility integrating solar and wind power.
The upcoming results calendar includes companies like JSW Steel, Hindustan Petroleum Corporation, Bank of India, InterGlobe Aviation, and others scheduled for announcements.
The above information was published on January 24, 2025.
