BBMP accused of releasing Rs 55.32 cr bills without carrying out any work in Chamarajpet
Calling for an investigation, the complaint stated that the BBMP floated tenders worth Rs 27.66 crore in 2020 and issued work orders to 19 contractors.
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News18
an hour ago
- News18
Union Bank of India To Raise Rs 6,000 Cr Via Equity And Debt, Shares In Focus
Last Updated: Union Bank of India plans to raise up to Rs 6,000 crore through equity and debt, with Rs 3,000 crore via equity and Rs 3,000 crore through debt, including AT1 and Tier 2 bonds. Union Bank of India to raise Rs 6000 via equity and debt. Union Bank of India Share Price: Shares of Union Bank of India are in the spotlight today, June 26, after the board approved a plan to raise up to Rs 6,000 crore through a mix of equity and debt instruments. The decision was made at the Board meeting on June 25, 2025. As per an exchange filing, the public sector lender will raise up to Rs 3,000 crore via equity capital in one or more tranches. This could be done through methods such as a Further Public Offer (FPO), Rights Issue, Qualified Institutions Placement (QIP), Preferential Allotment, or a combination of these. Shares of Union Bank of India settled 1.70 per cent lower on Wednesday to close at Rs 144.59 per share. The scrip opened at Rs 146.50 apiece. Additionally, the bank has received approval to raise up to Rs 3,000 crore through debt instruments. This includes Rs 2,000 crore via Basel III-compliant Additional Tier 1 (AT1) bonds and Rs 1,000 crore through Tier 2 bonds. The debt instruments may also be issued in foreign currency, according to the bank. Govt Cancels Bank's ED Appointment The Government has cancelled its order on the appointment of Pankaj Dwivedi as executive director (ED) of Union Bank of India and sent him back as General Manager (GM) of Punjab & Sind Bank. The government's decision came amid the pending case against Dwivedi in Delhi High Court. The court highlighted his appointment as ED of Union Bank of India, violating regulations due to the lack of vigilance clearance. Dwivedi had been ceased as ED of Union Bank of India with immediate effect. 'we wish to inform you that the Central Government vide notification no. 12/4/2024-BO.I dated June 24, 2025 has cancelled the appointment of Shri Pankaj Dwivedi as Executive Director of Union Bank of India and consequently he ceases to be the Executive Director of the Bank with immediate effect," Union Bank of India announced in the press release. First Published:
Time of India
an hour ago
- Time of India
Digital lenders stay cautious; Swiggy sees no easy wins for Rapido
ETtech Academy Empower your mind, elevate your skills ETtech Company Images Agencies Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. AP Happy Thursday! Some digital lending startups reported modest profit growth in FY25, while others have pulled back on IPO plans. This and more in today's ETtech Morning Dispatch.■ Ride-hailing GST ruling under review■ Infosys' Nilekani flags global risks■ NPCI reports 42% profit surgeDigital lending startups closed FY25 with mixed results . While some posted profit growth, others slowed down disbursals to maintain capital buffers in a volatile regulatory reported a 100% rise in net profit to Rs 100 crore for FY25. KreditBee posted a modest increase, with net profit reaching Rs 221 crore versus Rs 200 crore a year earlier. Axio, on the other hand, saw pressure on its operating metrics during the first half of the executives told us that several digital lenders are preparing draft red herring prospectuses (DRHPs), but few are expected to list before early 2026. Many are looking to secure Sebi approvals in advance and time their public offerings around improved market sentiment — possibly post the festive say regulatory uncertainty has stabilised and asset quality is holding up. With improved metrics expected this fiscal, some lenders are hoping to hit the public markets early next year. Swiggy 's Majety on Rapido's food delivery pushSriharsha Majety, group CEO, SwiggySwiggy says it remains agile and ready to respond, as Prosus-backed Rapido prepares to enter a market with few Rapido finalising its entry into the food delivery market, Swiggy founder and group CEO Sriharsha Majety said the company remains ' super agile and paranoid ,' and won't hesitate to act if the market shows signs of disruption. It's noteworthy that Swiggy is an investor in at an investor event hosted by Prosus in London, Majety said the food delivery market has seen multiple entrants — Uber, Ola, Amazon, and ONDC — come and go, with only Swiggy and Zomato managing to survive and scale.'There were a dozen players in 2015… and we're still standing. Credit to us and Zomato. It's not easy to find an opening that's a home run,' he said. 'But if we see one, we'll be out there in weeks.'Swiggy holds a 15% stake in Rapido, and both companies share Prosus as a common investor. Rapido is offering significantly lower restaurant commissions compared to incumbents as it enters the AAR questions earlier tax exemption for Juspay platform, citing possible misrepresentation and transfer of Karnataka Authority for Advance Ruling (AAR) has said it may revoke its 2023 ruling that exempted Namma Yatri from collecting GST on auto rides booked via its had originally secured the ruling on grounds that it offered a software-as-a-service (SaaS) platform charging drivers a subscription fee — not a per-ride commission. Since then, Juspay has transferred Namma Yatri to a subsidiary, Moving Tech AAR says the ruling may no longer apply since the business has changed hands and the original applicant, Juspay, no longer owns the platform. The authority also hinted that the initial exemption may have been based on incomplete case could impact GST treatment across other ride-hailing platforms like Uber, Ola, and Rapido, all of which are seeking clarity from the Central Board of Indirect Taxes and Customs (CBIC).ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Nilekani, cofounder, InfosysAmid multiple global challenges and AI becoming unavoidable, Infosys chairman Nandan Nilekani said that the ongoing tariff wars is pushing businesses to derisk sourcing and that the energy transition adds another layer of National Payments Corporation of India, which runs UPI, IMPS, AePS and BBPS, reported a Rs 1,552 crore surplus for FY25 — up 42% year-on-year — on revenues of Rs 3,270 and and generative AI are now becoming part of the large deals for LTIMindtree , although with slightly longer closure cycle than the traditional vendor consolidation projects, its new CEO Venugopal Lambu told bond investment platform IndiaBonds raised Rs 32.5 crore ($3.77 million) from investors, including founder Amit Rathi, former Delhivery CBO Sandeep Barasia, and Sanctum Wealth CEO Shiv Gupta, among others.■ Who is most at risk from the billions of leaked Facebook and Google passwords? ( Rest of World ■ Snake Venom, Urine, and a Quest to Live Forever: Inside a Biohacking Conference Emboldened by MAHA ( Wired ■ Here's a running list of all of Tesla's robotaxi mishaps so far ( The Verge
United News of India
an hour ago
- United News of India
NALCO launches IA90 grade aluminium alloy ingot for automobile industry
Bhubaneswar, June 25 (UNI) National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, has expanded its product portfolio with the launch of its latest offering — the IA90 grade aluminium alloy ingot. According to NALCO sources, the new product is specifically designed to meet the evolving needs of the automobile industry. NALCO Director (Commercial), Sadashiv Samantaray, formally launched the new alloy grade in the presence of senior officials at the company's Smelter and Power Complex in Angul. The IA90 grade alloy is engineered to offer enhanced strength, superior wear resistance, and excellent corrosion resistance, making it suitable for critical automotive applications. With its high strength and outstanding castability, the IA90 alloy is an ideal choice for manufacturing wheels, engine blocks, cylinder heads, and other structural components commonly used in the automotive sector. With the introduction of the IA90 grade, NALCO reaffirms its position as a key player in the domestic aluminium industry, delivering innovation-driven solutions to meet emerging industrial demands. UNI DP RN More News Adani Total-Jio BP tie up to retail Petrol, Diesel, CNG at fuel outlets 26 Jun 2025 | 12:41 AM Mumbai, June 25 (UNI) Adani Gas Ltd has stated in a filing to the stock exchange that Adani Total Gas Ltd (ATGL) and Jio-BP have entered into a strategic partnership to jointly retail petrol, diesel and CNG across select fuel outlets belonging to each other. see more.. NALCO launches IA90 grade aluminium alloy ingot for automobile industry 26 Jun 2025 | 12:41 AM Bhubaneswar, June 25 (UNI) National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, has expanded its product portfolio with the launch of its latest offering — the IA90 grade aluminium alloy ingot. see more.. CRI Solar gets major Multi-State Orders worth Rs 210 Cr for 6,894 solar pumping systems 26 Jun 2025 | 12:22 AM Hyderabad, June 25 (UNI) CRI Solar, a division of CRI Pumps and a frontrunner in renewable energy-driven water solutions, today said it has secured significant orders from Maharashtra Energy Development Agency (MEDA), Haryana Renewable Energy Development Agency (HAREDA) and Punjab Energy Development Agency (PEDA)—for the supply, installation and commissioning of 6,894 solar pumping systems, cumulatively valued at Rs ₹ 210 crores. see more.. Hyderabad-based Equal joins elite WEF list alongside Google, Spotify and Airbnb 26 Jun 2025 | 12:19 AM Hyderabad, June 25 (UNI) Hyderabad-based Equal, one of India's leading secure data sharing platforms, was chosen by the World Economic Forum (WEF) for its 2025 list of 'Technology Pioneers', a global cohort of 100 companies driving transformation across industries.
