Epson Makes Manufacturing Foray into India with new Chennai Facility
Japanese major Seiko Epson Corporation made its first manufacturing investment in India by setting up its first ink tank printer manufacturing facility in the country in Chennai.
The new plant has been established in collaboration with manufacturing partner Rikun at Sipcot Industrial Park in Sriperumbudur near Chennai, and is scheduled to commence operations in October.
Jul 05, 2025
Microsoft Exits Pakistan after 25 Years
Global tech firm Microsoft ceased operations in Pakistan after 25 years, according to its founding country head. Jawwad Rehman, who launched Microsoft in the country in 2000, revealed the closure.
The exit coincided with Microsoft's global decision to lay off 9,000 employees. However, the shutdown in Pakistan is seen as a reflection of deeper economic and political instability in the country. Factors such as a weakening currency, high import barriers on tech, and ongoing political uncertainty have created an inhospitable environment for multinationals. All these made it nearly impossible for a global company like Microsoft to function efficiently.
Coal Ministry to Launch RECLAIM Framework for Sustainable Mine Closure
In a step toward sustainable mining and community welfare, the Ministry of Coal launched the RECLAIM Framework—a structured guide to ensure inclusive mine closures and repurposing. This initiative places strong emphasis on community participation, gender inclusivity, and the involvement of vulnerable groups, aiming to make the post-mining transition equitable, transparent, and locally aligned.
RECLAIM stands for 'Repurposing, Engagement, Community, Livelihoods, Assets, Inclusivity, Mine-closure'.
Mashreq Becomes First UAE Bank to Enter GIFT City
Mashreq, a major bank from the United Arab Emirates (UAE), received in-principle approval to open a branch in GIFT City, located in Gujarat, India. This makes it the first UAE-based bank to enter India's international financial centre. This move is a major step toward strengthening India-UAE financial ties and supporting international banking activities.
The International Financial Services Centres Authority (IFSCA) gaven Mashreq Bank the initial go-ahead to start its operations in Gujarat International Finance Tec-City (GIFT City). This branch will be an International Financial Services Centre Banking Unit (IBU).
Jul 04, 2025
Gujarat Joins One-Crore Club of Stock Market Investors
Gujarat became the third state in India to cross the milestone of one crore registered stock market investors, according to the latest figures released by the National Stock Exchange (NSE). This achievement places Gujarat alongside Maharashtra and Uttar Pradesh, the only other states to reach this landmark.
Together, these three states now account for 36 per cent of the total investor base in India, highlighting their strong interest and participation in the country's financial markets.
Slice Launches India's First UPI-Powered Bank Branch in Bengaluru
Fintech firm Slice launched India's first UPI-powered digital bank branch in Koramangala, Bengaluru. This innovation blends seamless credit access with the power of Unified Payments Interface (UPI) to offer customers a smooth, cashless banking experience. With this new venture, Slice is redefining how Indians experience formal credit and core banking services.
Amitabh Kant to Join IndiGo Board
Domestic carrier IndiGo parent InterGlobe Aviation announced the appointment of former Niti Aayog CEO and India's G20 Sherpa Amitabh Kant as a Non-Executive Director to its board.
A career bureaucrat, Kant had resigned as India's G20 Sherpa last month. His appointment to the board is subject to regulatory and shareholder approvals.
Jul 03, 2025
Sunil Jayawant Kadam Takes Charge as SEBI's New Executive Director
Sunil Jayawant Kadam took charge as an Executive Director of SEBI.
He will handle several departments, including Information Technology, Investor Assistance and Education and matters related to the National Institute of Securities Markets (NISM).
In his new role, Kadam will also oversee Economic and Policy Analysis, General Services, Board Cell, RTI & PQ Cell.
Kadam, who has been associated with SEBI since 1996, was serving as Chief General Manager before this elevation. He has handled several assignments, including roles in Corporation Finance, Market Regulation, Surveillance, and Investigations.
AU Small Finance Bank Appoints Independent Directors, Senior Executives
AU Small Finance Bank appointed two independent directors and a number of senior executives across verticals.
The two independent directors are Nandkumar Saravade - a former IPS officer and an expert in cyber security, fraud risk and regulatory technology- and Jagajit Mangal Prasad, having an experience of over three decades in human capital strategy.
Besides, the bank appointed Yogesh Jain as Chief Operating Officer, Vivek Tripathi as Chief Credit Officer and Dhavan Shah as Head (Commercial Banking).
Avinash Sharan was elevated to Head (Branch Banking) and Arvind Butola as National Business Head (Credit Cards & Unsecured Loans).
Virudhunagar to Become Global Textile Hub under PM MITRA Scheme
The Government of India approved the establishment of a Rs. 1,900 crore PM MITRA Textile Park in Virudhunagar, Tamil Nadu, marking a major step toward bolstering India's position in the global textile industry. Spanning over 1,052 acres, the mega park will feature cutting-edge infrastructure including Zero Liquid Discharge (ZLD) treatment, a 10,000-bed dormitory, and over 1.3 million sq. ft. of ready-to-use industrial space. Aimed at boosting technical textiles and sustainable apparel manufacturing, the park is expected to draw Rs. 10,000 crore in investment and create over one lakh jobs by 2026.
Taipei Fubon Commercial Bank Secures Approval to Open Branch in India
Taipei Fubon Commercial Bank, the banking arm of Fubon Financial Holding Co., received approval from Taiwan's Financial Supervisory Commission (FSC) to set up a branch in Gujarat International Finance Tec-City (GIFT City), India's emerging financial and technology hub.
The bank dropped its earlier plan to open a branch in Mumbai, believing GIFT City offers a more strategic location to serve Taiwanese businesses and other enterprises operating in India.
GIFT City, located in Gujarat, offers single-window clearances and approvals and provides plug-and-play infrastructure for businesses.
Jul 02, 2025
PNB Removes Fine for Minimum Balance Default
In a bid to strengthen financial inclusion and customer empowerment, Punjab National Bank (PNB) waived penal charges for non-maintenance of minimum average balance in all savings accounts.
This customer-first initiative, effective from July 1, is particularly aimed at supporting priority segments, such as women, farmers and low-income households, ensuring easier and more inclusive access to banking services without the stress of balance maintenance penalties.
Rajendra Prasad Goyal Gets Additional Charge as NHPC CMD
Rajendra Prasad Goyal, Director (Finance), was assigned again the additional charge of Chairman and Managing Director of NHPC Limited.
Goyal took over the additional charge from July 1, 2025.
He was assigned the charge on the directions of the power ministry.
Earlier, he had also held the charge of NHPC Chairman and Managing Director between March 1, 2024, and August 7, 2024.
Goyal is a member of the Institute of Cost Accountants of India and also holds a Master's Degree in Commerce from the University of Rajasthan, Jaipur. He has vast experience of more than 36 years in NHPC.
Kesavan Ramachandran is RBI's New Executive Director
The Reserve Bank of India (RBI) appointed Kesavan Ramachandran as Executive Director (ED), effective July 1, 2025. As Executive Director, Kesavan Ramachandran will look after the Department of Regulation (Prudential Regulation Division).
With over three decades of experience, Ramachandran has worked extensively in diverse areas such as currency management, banking and non-banking supervision, training, and administration. He has also served as the Principal of the Reserve Bank Staff College during his career.
NMDC Expands Global Footprint with Its New office in Dubai
National Mineral Development Corporation (NMDC), India's largest iron ore producer, marked a significant milestone with the inauguration of its new international office in Dubai, United Arab Emirates.
This strategic expansion fortifies NMDC's global presence and propels its vision to become a multinational mining powerhouse.
The office was inaugurated by the Union Minister H. D. Kumaraswamy, Minister of Steel, and Heavy Industries, in the presence of Sunjay Sudhir, Ambassador of India to the UAE.
+91-85588-96644
