Today’s Times of India is a prominent business news source covering the latest developments in the corporate world. Here are the top 5 business news updates for today that are sure to grab your attention.
1. Ola Electric sets up world’s largest 2-wheeler factory
Ola Electric, the EV arm of ride-hailing company Ola, announced the setting up of the world’s largest e-scooter factory in Tamil Nadu. The plant will have a capacity to produce 2 million electric scooters per year and bring in an investment of Rs 2,400 crore. The move is in line with the government’s push for electric mobility and is expected to create 10,000 jobs. Ola plans to launch its electric scooter in the coming months.
2. RBI imposes Rs 50 lakh penalty on HDFC Bank
The Reserve Bank of India (RBI) imposed a penalty of Rs 50 lakh on HDFC Bank for falling short of certain regulatory norms. The bank breached guidelines on the classification and reporting of frauds, and also failed to undertake timely corrective measures. This comes as a setback for the country’s largest private sector lender which has been grappling with regulatory issues over the past year.
3. SpiceJet to launch non-stop flights between Delhi and Mumbai
SpiceJet announced the launch of non-stop flights between Delhi and Mumbai from April 16, 2021. The low-cost airline will operate four flights daily on this route using its Boeing 737 aircraft. With this move, SpiceJet aims to cater to the rising demand for air travel between the two cities and offer passengers a comfortable, safe, and affordable travel option.
4. Zomato raises $250 million in funding from 5 investors
Food delivery platform Zomato raised $250 million in its latest funding round led by Kora Management and Tiger Global Management. The round saw participation from Fidelity Management, Bow Wave Capital Management, and Dragoneer Investment Group. Zomato plans to use this capital to bolster its technology, logistics, and supply chain capabilities, and expand into newer markets. The company is all set to go public later this year.
5. Amazon India’s logistics arm gets infusion of Rs 915 crore
Amazon India’s logistics arm, Amazon Transportation Services (ATS), received an infusion of Rs 915 crore from the parent company. The move is aimed at strengthening ATS’s warehousing and transportation infrastructure as the demand for e-commerce grows. Amazon India has been facing stiff competition from rivals like Flipkart and Reliance’s JioMart, and is looking to fortify its operations to maintain its dominance in the market.
In conclusion, these top 5 business news updates from Today’s Times of India highlight the major trends and developments in the corporate world. From electric vehicles to aviation and logistics, these stories underline the need for innovation, agility, and resilience in the business landscape. As we navigate the challenges of the pandemic and the changing consumer preferences, these updates provide valuable insights and actionable takeaways for investors, entrepreneurs, and decision-makers alike.
