India Sees 14.49% Surge in Coal Production in June 2024

Mahindra To Export EVs To UK After India-UK Trade Deal

Mahindra & Mahindra plans to export its electric vehicles (EVs) to the United Kingdom, capitalising on new trade opportunities following the finalisation of the India–UK free trade agreement. Group CEO and Managing Director Anish Shah said the move will strengthen Mahindra’s global footprint and leverage its strong position in India’s EV market, where the company expects electric vehicles to account for 30 per cent of overall sales by 2030.The Mumbai-based automaker set up Mahindra Advanced Design Europe (M.A.D.E) in Banbury, Oxfordshire, in 2022 as a conceptual hub for its electric ..

Shivalik Bank Raises Rs 1 Billion Led By SMBC Asia Rising Fund

Shivalik Small Finance Bank (SSFB) has raised Rs 1 billion in fresh equity funding, led by SMBC Asia Rising Fund, the corporate venture capital arm of Japan’s Sumitomo Mitsui Banking Corporation (SMBC). Existing investors Accel, Quona Capital, Lightspeed and Sorin Investments also participated in the round.The bank said the infusion will be used to strengthen its technology infrastructure, expand its product, engineering and operations teams, and scale its banking-as-a-service (BaaS) platform. SSFB aims to deepen its reach among India’s underserved MSME and retail segments, particularly in..

Maharashtra Approves Seat Subsidy For Solapur Air Routes

In a move to enhance regional air connectivity, the Maharashtra government has approved a subsidy of Rs 3,240 per seat on flights operating between Solapur–Mumbai and Solapur–Pune. The scheme, which will run for one year, is designed to fully cover the operating cost of the services and will be aligned with the Centre’s UDAN (Ude Desh Ka Aam Naagrik) regional connectivity programme.Star Air, which currently operates flights on these routes, will be the beneficiary of this government support. The state has allocated Rs 179.7 million to promote air services between Solapur and Mumbai, and ..