Varun Beverages | CMP: Rs 1,138 | The share price rose over 2 percent on June 2. The stock is in focus as the scrip will turn ex-bonus next week. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Varun Beverages chairman Ravi Kant Jaipuria has settled with capital markets regulator Sebi a case related to alleged violations of insider trading rules after paying nearly Rs 56 lakh towards settlement charges. It was alleged that Jaipuria had communicated unpublished price-sensitive information (UPSI) relating to a strategic partnership between Varun Beverages Ltd (VBL) and PepsiCo for selling and distribution of the larger Tropicana to two persons. Based on the information, shares of Varun Beverages, PepsiCo India's bottling partner, were traded. The latest order came after Jaipuria approached Sebi to settle the proceedings … [Read more...] about Varun Beverages’ Jaipuria settles insider trading case with Sebi; pays Rs 56 lakh
Sebi
RBI appoints Yogesh Dayal as additional director on RBL Bank board for two years
The Reserve Bank of India (RBI) appointed Yogesh K Dayal, its chief general manager, as an additional director on the board of private lender RBL Bank for a period of two years. The appointment came into effect on December 24, 2021. RBL Bank, in a regulatory filing on December 25, said its board has welcomed the central bank's decision. "The bank shall benefit from this addition considering his rich experience with the highly respected regulator," it said. His tenure would last "for a period of two years w.e.f December 24, 2021 till December 23, 2023 or till further orders, whichever is earlier", RBL Bank said. The appointment has been made by the RBI under Banking Regulation Act, 1949. The lender noted that Dayal is not related to any of the directors or other key managerial personnel of the bank, and is also not debarred from holding the office of director by virtue of any SEBI order or any other regulatory or statutory authority. Notably, Dayal is a career central banker … [Read more...] about RBI appoints Yogesh Dayal as additional director on RBL Bank board for two years
As Shriram Group merger nears completion, 500 branches of STFC, SCUF to cross-sell products: MD
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The merger between Shriram Group of companies will likely be completed by September-end, and to increase the effectiveness of merged entity, over 500 branches of Shriram Transport Finance Corp (STFC) and Shriram City Union Finance (SCUF) will cross-sell each other’s loans, deposits and other products beginning July 1, SCUF Managing Director and Chief Executive Officer (MD & CEO) YS Chakravarti told Moneycontrol on June 22. Shriram Group's board had on December 13 approved the merger of its lending subsidiaries Shriram Capital (SCL) and SCUF with STFC. The merged entity would be known as Shriram Finance. Chakravarti said the group ran a pilot project, focusing on cross-selling different products of STFC and SCUF in 50 branches initially. This led to loan lead … [Read more...] about As Shriram Group merger nears completion, 500 branches of STFC, SCUF to cross-sell products: MD
Policy Talk | Startups need to define their vision as an industry
Yatish Rajawat – What was your objective in writing the book and what do you think is its impact? Harish Mehta - I’ll go back to say, 3 years, when I was reading books of RBI governors, IAS officers, politicians, etc. I have been involved with NASSCOM from the beginning and have seen how NASSCOM and the IT industry have evolved and how India has changed, I’m very proud of what everyone has done in this process. However, I didn’t see any of those books giving any credit to our industry - NASSCOM is not even listed anywhere, leave alone its contribution. There is an African proverb you may remember or know, “If lions had historians the tales of hunting would be different.” So that drove me to write the book about the story of how the IT industry changed. Like Dr. Sumant Rao Bhosre used to say, 1000 years of the downward spiral of India was arrested by the IT industry of India. NASSCOM was the sutradhar driving it. So that is what I used as a theme in my book. We have put our … [Read more...] about Policy Talk | Startups need to define their vision as an industry
Early-stage venture capital firm Fundamental launches maiden fund worth $130 million
Fundamental VC, an early-stage venture capital (VC) fund has launched its maiden fund with a target corpus of $130 million, at a time when early-stage funding is gaining traction among VCs in India. The Bengaluru-based fund will be focused on sectors such as consumer internet, healthcare, insurance, financial services, software-as-a-service (SaaS), gaming, and artificial intelligence (AI), among others, the company said in a statement on June 24. Fundamental VC said it received Securities and Exchange Board of India’s (SEBI’s) approval in March. The VC claimed that it already has started deploying capital and plans to lead investments in pre-seed and seed rounds. Founded by Saswat Sundar and Abhishek Rathi, former executives at startups like OYO, Stashfin, and Velocity, Fundamental VC said it plans to invest up to $1.5 million in each startup and aims to back 30 startups, over a period of two years. Earlier, both founders have individually invested … [Read more...] about Early-stage venture capital firm Fundamental launches maiden fund worth $130 million