NEW DELHI: Food delivery giant Zomato’s board on Friday approved the acquisition of instant grocery startup Blinkit, formerly known as Grofers, for Rs 4,447 crore in an all-stock deal. The deal value, however, is nearly 40% lower than Blinkit‘s $1-billion valuation last year, when it turned unicorn by raising $120 million from Zomato and Tiger
MUMBAI: The revival of economic activity continues to be steady and is gaining traction, and RBI is on track to bring down inflation and inflationary expectations, governor Shaktikanta Das has said. “GDP has exceeded 2019-20 levels, and from April 2022 onwards, many high-frequency indicators we monitor are showing steady improvement. The economy is back on
NEW DELHI: Buying a business class ticket on Air India has meant travelling in economy for many passengers thanks to the airline’s old fleet with poorly maintained cabins. Following protests by a London-bound passenger in Amritsar over this issue last month, the Directorate General of Civil Aviation (DGCA) conducted a probe into the same where
NEW DELHI: The Centre has urged chief secretaries of all states to keep a check on increasing debt burden and fiscal deficit as their performance will have a huge bearing on the country’s economy. Sources said the government has flagged that some of the states are as big as India’s neighbours such as Pakistan and
NEW DELHI: The Directorate General of Civil Aviation (DGCA) has cracked the whip on flying training organisation (FTOs) following a spate of accidents involving their aircraft. Aviation regulator Arun Kumar had ordered a special safety audit of the 32 functional FTOs in India, that began on March 21, 2022. So far 30 schools have been
NEW DELHI: Nearly 88% of migrants moved within the same state in 2020-21 while 11.8% moved to another state during the same period, according to the latest PLFS (Periodic Labour Force Survey) which also captured data on migration for the first time. The migration rate across the country was at 28.9% during the July 2020-21
MUMBAI: Life insurance behemoth LIC on Tuesday listed at Rs 867, an 8.6% discount to its offer price of Rs 949 and closed the maiden trading day on the bourses at Rs 875, down nearly 8% from its IPO price. At the close of the session, shareholders in LIC lost about Rs 46,500 crore with
NEW DELHI: A three-member Directorate General of Civil Aviation (DGA) panel, probing IndiGo’s denial to board a ‘divyang’ child at Ranchi Airport on May 7, has found the airline at fault. As a result, the panel will issue a show cause notice to the airline. After hearing IndiGo’s defence, it will come out with the
NEW DELHI: In a drastic move, India on Saturday announced a ban on wheat exports with immediate effect in an effort to control the rising domestic prices. Interestingly, the move comes just days after India said it was targeting record shipments this year. Here’s what you need to know about India’s wheat export ban …The
NEW DELHI: The government is likely to take a call soon on whether to slow down wheat exports amid concerns over the dip in stocks of the foodgrain with the Food Corporation of India (FCI) due to aggressive buying by private players and fall in overall production. The issue of wheat stock with the government
