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Nearly 200 LVB branches were loss-making, 100 unviable: Ex-Director

Nearly 200 LVB branches were loss-making, 100 unviable: Ex-Director

<br>Board member Shakti Sinha also said, for a bank of LVB's size, its 563 branch network was huge and nearly 200 of them were loss-making and about 100 were unviable.However, on November 17 evening, the Reserve Bank of India (RBI) took series of decisions - superseding the LVB board, appointi...

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Covid-19 increases urgency for banks to transform payment systems: Accenture

Covid-19 increases urgency for banks to transform payment systems: Accenture

New Delhi, Nov 24 (IANS) The rapid shift to digital payments due to the Covid-19 pandemic is urgently increasing the need for banks to modernise their payment systems, according to a new report from Accenture.The report, titled "Playing the Long Game in Payments Modernisation," is based on a survey ...

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CARS24 raises $200 million to scale new biz verticals

CARS24 raises $200 million to scale new biz verticals

New Delhi, Nov 24 (IANS) Used car marketplace CARS24 on Tuesday said it has raised $200 million in Series E funding round at a valuation of over $1 billion.The funding round was led by DST Global with participation from existing investors including Exor Seeds, Moore Strategic Ventures and Unbound.Th...

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E-commerce startup Benja, CEO charged with defrauding investors

E-commerce startup Benja, CEO charged with defrauding investors

Washington, Nov 24 (IANS) The US Securities and Exchange Commission (SEC) has charged San Francisco-based e-commerce startup Benja and its CEO with misleading investors about purported contracts with well-known consumer brands.According to the SEC's complaint, Andrew J Chapin, the founder and CEO of...

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Govt no to additional performance security on abnormally low bids

Govt no to additional performance security on abnormally low bids

New Delhi, Nov 24 (IANS) The government has decided not to seek additional performance security on abnormally low bids received on government contracts to provide relief to contractors already facing liquidity issues in the wake of the ongoing pandemic.The finance ministry has asked all government m...

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Amazon gives US holiday shoppers more delivery location options

Amazon gives US holiday shoppers more delivery location options

San Francisco, Nov 24 (IANS) As Amazon braces for the busy holiday shopping season, the e-commerce giant is giving shoppers in the US more location options to get their packages delivered.So instead of getting their packages delivered to their houses, shoppers can get the orders shipped to a nearby ...

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Cohesive retail policy can help create 30L jobs by 2024: Report

Cohesive retail policy can help create 30L jobs by 2024: Report

New Delhi, Nov 24 (IANS) A cohesive National Retail Policy cam help in generating 30 lakh jobs by the year 2024, according to a report by CII and Kearney.The report noted that an investment of Rs 6,500 crore in retail-related infrastructure, including warehousing and cold-storage facilities, can cre...

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Two-wheelers' export volumes to see sustained growth in 2HFY21: Ind-Ra

Two-wheelers' export volumes to see sustained growth in 2HFY21: Ind-Ra

New Delhi, Nov 24 (IANS) India's two-wheelers' (2Ws) export volumes will see a sustained growth in the second half of FY21-FY22, expects India Ratings and Research (Ind-Ra).According to the ratings agency, the industry faced temporary hiccups in 1QFY21 (first quarter of Financial Year 2021) due to t...

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Von Wellx Germany's India ops eye exports, employment generation

Von Wellx Germany's India ops eye exports, employment generation

New Delhi, Nov 24 (IANS) German footwear-maker Von Wellx which recently shifted its operations from China to India amid the pandemic is eying exports to around 80 countries and creating around 10,000 direct and indirect job opportunities in the country.Earlier this month, the company started its man...

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58K women banking correspondents to begin training in UP

58K women banking correspondents to begin training in UP

Lucknow, Nov 24 (IANS) Uttar Pradesh chief minister Adityanath has asked the rural development and panchayati raj departments to go ahead with the training of 58,000 women banking correspondent (BC) Sakhis before they begin their job.The state government has completed the first-of-its-kind technolog...

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