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Top headlines: SoftBank to invest $450 mn in Swiggy; Wipro to retain talent


Softbank Group to invest $450 million in Swiggy at $5.5 billion value
SoftBank Group Corp. is investing in Swiggy at a $5.5 billion valuation, the second funding for the Indian food delivery startup in as many weeks as capital floods the world’s fastest growing internet arena. The $450 million funding came from Masayoshi Son’s Vision Fund 2, a person familiar with the matter said. The financing awaits approval from Indian antitrust regulators, the person added, asking not to be identified talking about a private deal.
Decision in 3 working days after foreign Covid-19 vaccine firms apply
The Indian health regulator will take a decision within three working days of a foreign vaccine maker seeking emergency use approval, the Centre said on Thursday in a definite move to accelerate the inoculation process. Also, the Central Drugs Standard Control Organisation (CDSCO) will work in a time-bound manner for every step connected to vaccine approval. For instance, import l ....

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RBI releases list of applicants for 'on tap' bank licenses


3 hours ago
On Thursday, the Reserve Bank of India (RBI) released a list of eight entities/promoters who wish to apply for universal commercial bank and small finance bank licenses. The top contenders include Sachin Bansal’s Chaitanya India Fin Credit, forex major UAE Exchange and Dvara’s micro-finance arm.
Recently, the central bank appointed an expert committee to evaluate applicants for bank licenses. This committee will evaluate fresh applicants who wish to apply for ‘on tap’ bank licenses over the next three years, in addition to non-bank lenders and payments bank that wish to convert to an SFB or universal bank. In 2014, the RBI gave universal banking licenses to Bandhan Bank, a micro-finance lender, and IDFC Bank, a development finance company. IDFC Bank was merged with Capital First and is now called IDFC First Bank. ....

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