Business news India: Latest India business news headlines today 1 November 2021
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Here’s today business news, the latest business news India today 1 November 2021.
- The Ministry of Finances has reportedly issued a set of new guidelines for NPA accounts up to Rs 50 crore to protect the people taking bonafide business decisions, to be implemented from April 01, 2022.
- According to data by CGA, the excise duty collection surged to over Rs 1.71 lakh crore in April-September 2021 as compared to the collection of Rs 1.28 lakh crores in the same period previous fiscal.
- A Bengaluru-based neobank, Fi, has reportedly raised $ 50 million in Series B at a valuation of $ 315 million from B Capital Group, Falcon Edge, Sequoia Capital, and Ribbit Capital.
- Zepto, a 10- minute grocery delivery app has reportedly raised $ 60 million in an early-stage round with backing from investors such as Glade Brook Capital, Nexus, Y Combinator, Lachy Groom, Neeraj Arora, etc. to expand its operations nationwide.
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- Danone India has entered into the kids health drink category with the launch of AptaGrow in West Bengal, Telangana, and Andhra Pradesh. The Health drink market in India is said to be around Rs.6600 crores.
- As per the reports, Snapdeal has appointed Ullas Kamath, an FMCG veteran and brand expert Anisha Motwani as the new members to its Board of Directors.
- Piaggio Vehicles India, an arm of the Italian automaker, and Jio-bp are said to be in talks with Amazon and Flipkart for conversion of their part of the fleet into electronic vehicles and provide battery swapping Infrastructure in a B2B model.
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- According to the CEO of BharatPe, Suhail Sameer, this fintech company plans a $ 5 billion loan book in the next five years to serve the credit needed by small businesses in India.
- Toyota Kirloskar has reported a 1% increase in domestic wholesales at 12,440 units in October as compared to the sales of 12,373 units in the same period last year.
- Omaxe, a realty firm, has elevated Mohit Goel from the post of CEO to the position of Managing Director with immediate effect.
- As the Punjab & Maharashtra Co-operative Bank is under the resolution process, the customers will not get any insurance cover of Rs 5 lakh in ihe first slot.
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