Led by SAUCE VC Fueling Growth in the Passion Economy Bangalore, India – May 23, 2023 – KREO, a pioneering consumer electronics brand catering to gamers and creators, announced today the successful completion of a seed funding round, raising INR 6.5 Cr in a combination of equity and debt financing. The funding round was led by SAUCE VC, a renowned consumer venture capital fund, with a significant contribution from other […]
Canara HSBC Life Insurance has announced the launch of its new pension plan, a guaranteed annuity product – Smart Guaranteed Pension which provides premium paying flexibility and ensures a regular guaranteed income stream that will enable the customer to have a comfy retirement. The plan offers a wide range of benefits and options to customers, providing them with flexibility, security and guaranteed life-long income. Smart Guaranteed Pension is designed to […]
Domestic Gross Contribution grew by 2.9% QoQ. Consolidated FY’23 PAT grew by 20% YoY. Delivered Q4’2023 PAT of Rs 113.8 cr (Normalized PAT after one time M&A expenses of Rs 126.8 cr). The Board recommends a final dividend of Rs 8.75 per share (FY’23 dividend Rs 15.75 per share). Sonata Software, a global IT services and technology solutions company, has reported its audited financial results for its 4th quarter and […]
Aviva Life Insurance has been ranked as India’s Most Trusted Private Life Insurance brand for the fifth consecutive year, according to the 12th edition of TRA’s Brand Trust Report 2023. Additionally, the company has been ranked sixth in the overall BFSI sector and 73rd in a list of 1000 brands across sectors. Commenting on the recognition, Mr. Vinit Kapahi, Head of Marketing, Aviva Life Insurance, said, “We are honoured to receive this award for the fifth year […]
EduFund, an India-based edu-fintech company, today announced that it has raised a Pre-Series A investment of $3.5M, led by global venture capital firm MassMutual Ventures (MMV). The start-up boasts of 70,000 successfully engaged parents on its platform. The round also saw participation from prominent investors DSP Investment Managers, Anchorage Capital Partners, and Kunal Shah. Started in 2020 by founders Eela Dubey and Arindam Sengupta, the company offers a full stack solution dedicated […]
Josh, India’s fastest growing and most engaged short video app, has collaborated with Tata AIG, one of India’s leading insurance providers, to launch the #TrustedNaamFantasticKaam campaign, which aims to promote financial literacy among young adults and empower them to be proactively involved in financial matters. The campaign focuses on raising awareness of car insurance and the ease of availing car insurance policies from Tata AIG. As insurance matters can be daunting […]
The Institute of Chartered Accountants India (ICAI) has been conferred with the Green Ribbon Champions Award for Commitment to Sustainable Accounting by Network 18 recognising ICAI’s leadership role and commitment towards sustainability and inspiring work in making the world a greener place. CA. Aniket S. Talati, President, ICAI received this recognition at an event held on 25th March in Delhi. The Award was presented by Shri Rohit Kumar Singh, Secretary, Consumer Affairs, Food and Public […]
Aviva Life Insurance, India’s most trusted private life insurance company, announced the launch of the Aviva New Innings Pension Plan, a non-linked, non-participating individual pension plan. The plan has been crafted to build a corpus through one-time or regular premium payments which can be utilized to secure a guaranteed stable income stream in the form of annuity after retirement. Aviva New Innings Pension Plan provides customers with the opportunity to receive a […]
mPokket, India’s fastest-growing digital lending platform, has witnessed an astonishing 100x increase in female users in 2022. The digital lending platform has improved financial inclusion across the country, which has impacted the lives of aspirational millennials, especially women. The company onboarded over 1 lakh female users in 2022, the majority of whom are from tier 3 cities. 48% of the women are between the ages of 18 and 21 years; 30% are between the ages of […]
OneBanc, an AI-driven neo-banking company, is expanding into the public sector to positively influence over 17Mn white-collar employees. They are disrupting the Payroll Banking space with a solution that delivers a premium banking experience. In a short span of time, over 100 corporates have partnered with OneBanc to reap benefits such as improved compliance standards, increased employee engagement, and productivity. The company is backed by prominent VCs like Info Edge […]
The Institute of Chartered Accountants of India (ICAI) celebrated its 73rd Annual Function today on February 7, 2023. Chief Guest Shri Arjun Ram Meghwal, Hon’ble Minister of State for Parliamentary Affairs and Culture inaugurated the function in the presence of CA. (Dr.) Debashis Mitra, President, ICAI; CA. Aniket Sunil Talati, Vice-President, ICAI and Central Council Members, ICAI. The function witnessed the presence of more than 1500 members and stakeholders from across the globe. CA. […]
Maharashtra State Cooperative Sugar Factories Federation Ltd., Mumbai The Hon. Finance Minister Smt. Nirmala Sitharaman in her presentation of the Union Budget for 2023-24 declared a huge relief for the impending income-tax issues pertaining to the Co-operative Sector sugar mills in India. The severe financial implications to the tune of 10,000/- crores shall now be set to rest since the Co-operative sugar mills shall be able to claim payments made […]
Jyothy Labs Limited, one of the leading Indian FMCG companies announced today its financial results for the quarter ended December 31, 2022. The Company delivered sales of Rs 613 crores, increase of 13.7% growth against the same period last year. The Company continues to deliver consistent double digit revenue growth for the quarter as well as on a 2 year CAGR basis. The business has been resilient inspite of high commodity inflation […]
The Institute of Chartered Accountants of India, New Delhi, India has set the record for ‘Maximum Number of Students Participation in Super Mega Career Counselling Programme’. The First Drive of the Super Mega Career Counselling Programme was organized on October 31, 2022 and the Second Drive was organized on November 26, 2022. A total of 1,60,648 students of classes IX till Graduation participated in the programme along with the Principals, […]
Federal Bank Ltd Q3FY23 Result First Cut – All-round and record-breaking performance# Federal Bank Ltd. reported an upbeat performance in Q3FY23, with an all-time increase in Net Profit and NII and improvement in its Asset Quality.# Net Interest Income grew by 11.1% QoQ/ up 27.1% YoY at Rs. 1,956.5 crores, reflecting the highest-ever profitability of the bank. NIM acted as the catalyst to the bank’s excellent performance at 3.49%, an […]
Infosys reported a healthy performance in 3QFY23 with revenues 0.7% above our estimates in seasonally weak quarter. However, EBIT margin came in at 21.5%, 30bps below our estimate of 21.8% while its PAT is above our estimate by 2.5%, supported by lower tax rate and healthy other income. # Revenue grew by 2% QoQ/10% YoY in USD to US$4,659mn, 0.7% above our estimate of US$4,625mn. Sequential constant currency growth came […]
he Institute of Chartered Accountants of India (ICAI) had instituted ICAI Awards in the year 2007 to honour and acknowledge the exemplary achievements of its Members who have attained exceptional levels of professional achievements in industry and business and are committed towards their goals. ICAI continues its legacy to honour stellar individuals and organized 16th ICAI Awards on 10th January, 2023 at Hotel Taj Bengal, Kolkata. Shri C.V. Ananda Bose, Hon’ble Governor, West […]
For the first time ever, the global investors shared their queries with experts at the pavilion set up by ICAI at “Pravasi Bhartiya Diwas (PBD)” and “Global Investor Summit(GIS)”. ICAI’s leadership shared that “This is the first time that ICAI has participated in such a conference and has shown its participation. The ICAI Pavilion is focused majorly on an important booklet which can provide a complete business solution for the […]
Anicut Capital, an Indian investment firm managing alternative assets, today announced that they have received a commitment of Rs 75 Crores from Self Reliant India Fund (SRI), for their equity fund. SRI Fund is a SEBI-registered Category II Alternative Investment Fund anchored by NSIC Venture Capital Fund Limited, a wholly-owned subsidiary of The National Small Industries Corporation Limited (NSIC) and managed by SBICAP Ventures Ltd (SVL), a step-down subsidiary of […]
Jyothy Labs Limited, one of the leading Indian FMCG companies announced today its financial results for the quarter ended September 30, 2022. The Company delivered sales of Rs 659 crores, increase of 12.6% growth against the same period last year. The growth has been impacted with high inflationary pressure on the households, however inspite of volatile environment, our strategy to focus on strengthening our consumer franchise has resulted in double digit value […]
