If the revival formula works as planned, it will be the first time in recent years that the Deposit Insurance and Credit Guarantee Corporation (DICGC) will have been roped in for the revival of a stressed bank. Read more
Walmart-owned digital payments firm PhonePe has distributed ESOPs (employee stock ownership plans) worth $200 million (about Rs 1500 crore) among its 2,200 employees. This after the company recently raised $700 million in primary capital at a post-money valuation of $5.5 billion from the existing Flipkart investors, including Tiger Global, led by Walmart. Read more
The third national serosurvey has shown that 21.5 per cent of the population has been exposed to Covid-19. The Indian Council of Medical Research said the highest prevalence was found to be in the urban slums with more than 31 per cent of the population showing Covid antibodies. Among the age groups, 25 per cent of those in the 10-17 years old were exposed to the virus, according to the survey. Read more
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