HDFC Bank partners with NSIC to offer credit support to MSMEs
HDFC Bank has signed a Memorandum of Understanding (MoU) with National Small Industries Corporation (NSIC) to offer credit support to micro, small, and medium enterprises (MSMEs) across India. The private sector lender will provide MSMEs with schemes to enhance their competitiveness. HDFC Bank will accept loan applications forwarded by NSIC and consider sanctioning loans on a merit basis, as per the lending norms laid down by the bank. The bank’s branches will also extend support to MSMEs in the areas they operate.
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L&T Construction secures order for water effluent treatment business
The construction arm of Larsen & Toubro has secured a significant order (in the range of Rs 1,000-2,500 crore) for its water and effluent treatment business in India. The order is from a state-utility organisation to implement rural water supply projects, providing functional house tap connection under the Jal Jeevan Mission. The scope of the order comprises tube wells, pump houses cum chlorination rooms, overhead tanks, treatment systems, solar plants, rising main and distribution pipeline network, and staff quarters.
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Tata Communications partners with Telekom Malaysia to offer high-speed connectivity in ASEAN
Tata Communications Ltd has partnered with Telekom Malaysia Berhad (TM) to offer stable, high-speed, and reliable connectivity in the Association of Southeast Asian Nations (ASEAN) region. The collaboration will enable service providers, mobile network operators, and internet service providers in the region to address their customers’ growing data connectivity needs by providing access to a global Tier-1 Internet Protocol (IP) network. Sectors such as e-commerce, online entertainment, retail, online banking, and delivery services will get a further boost.
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ABB commissions drives at Bharat Biotech’s facility for safe manufacturing of Covaxin
ABB India has commissioned its ACS560 drives at Bharat Biotech’s Covaxin manufacturing facility in Hyderabad. The drives will enhance the safety and energy efficiency of the facility. The manufacturing of vaccines is a complex process and needs a clean room environment to deliver the desired output. ABB’s systems control the temperature, humidity, air pressure, and ventilation within a clean room.
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Birlasoft announces global, strategic partnership with Freshworks Inc
Birlasoft Ltd has announced a global, strategic partnership with US-based Freshworks Inc. to help enterprises provide enhanced customer experience management solutions. The partnership will focus on developing capabilities and innovative, niche-industry solutions to help enterprises address their transformation challenges and drive value at scale. Birlasoft will expand business capabilities and improve the end-user experience by integrating solutions from partners like Freshworks.
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Dr Reddy’s launches Minoxidil for treatment of female pattern hair loss
Dr Reddy’s Laboratories Ltd has announced the launch of Minoxidil for the treatment of female pattern hair loss (FPHL). The pharma company will sell the product under the brand name Mintop. The launch follows the first-ever approval of the additional indication by the Central Drugs Standard Control Organization (CDSCO) in India for the use of Minoxidil topical solution USP 2% and 5% for the treatment of FPHL.
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Shoppers Stop partners with Accenture to accelerate digital commerce transformation
Shoppers Stop Ltd has partnered with Accenture to accelerate its digital commerce transformation across multiple retail channels. The retailer of fashion and beauty brands aims to improve profitability and shift more sales to digital channels. Through its partnership with Accenture, Shoppers Stop plans to strengthen its digital platform backed by real-time data and analytics across the value chain— from customer experience and supply chain operations to sales and last-mile delivery.
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CEAT to revamp sales network across India
Tyre manufacturer CEAT has initiated an exercise to revamp its retail sales network to enhance customer experience. The company will refurbish Ceat Shoppes nationwide, which will start with 10 new design stores in metro cities and key markets in the coming months. It also plans to launch an additional 50 stores in the current financial year (FY22). It is targeting 500 exclusive stores by 2023.
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Panacea Biotech supplies second component of Sputnik V in India
Panacea Biotec Ltd has supplied the first shipment of the second component (human adenovirus serotype 5) of the Sputnik V Covid-19 vaccine. The batch will be distributed across India through Dr. Reddy’s Laboratories, a partner of the Russian Direct Investment Fund (RDIF) and Panacea Biotec. Doses of the second component were manufactured at Panacea Biotec’s facility in Himachal Pradesh.
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India must accept cryptos as an asset: Former RBI Deputy Governor
Former RBI Deputy Governor R Gandhi said cryptocurrencies should be treated as an asset or commodity in India and governed by existing laws for exchanges. “Once cryptos are accepted, rules governing commodity exchanges could apply, and the coins could be used to pay for goods and services. Then automatically people can start buying, selling and holding”, he said. The former RBI official was addressing an event organized by the Internet and Mobile Association of India today.
The Narendra Modi government, which had initially proposed a ban on crypto trades, is finalizing regulations for cryptocurrencies.
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