Business Standard BFSI Insight Summit brings together thought leaders from India’s financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

Business Standard BFSI Insight Summit brings together thought leaders from India's financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

Keynote Address: T Rabi Sankar, Deputy Governor, RBI

Varun Beverages Ltd (VBL), the leading bottler of PepsiCo, on Thursday announced to invest Rs 412 crore in its South African subsidiary Beverage Company Proprietary (Bevco).
Bevco, an existing subsidiary of our VBL, is engaged in the business of manufacturing and distribution of licensed products from PepsiCo and also own-branded non-alcoholic beverages in South Africa.
Besides Bevco also has franchise rights from PepsiCo in South Africa, Lesotho and Eswatini.
The company has "invested Rs 412.80 crore by subscribing Ordinary Shares of its subsidiary company i.e. The Beverage Company Proprietary Limited, South Africa," VBL said in a regulatory filing.
Bevco allotted 19.84 lakh ordinary shares to VBL and this fresh investment will result in an incremental share capital of 2.42 per cent, according to a disclosure by the company.
It will also help "Bevco to repay its existing debt and strengthen balance sheet for business growth," BVL added.
Promoted by the Jaipuria family, VBL accou

Besides Bevco also has franchise rights from PepsiCo in South Africa, Lesotho and Eswatini

Muted sales growth in FY24 notwithstanding, Black Box is poised for its next growth phase aided by a growing deal pipeline, revamped go-to-market strategy, and focus on data centres, according to a report by brokerage firm Ventura Securities.
Black Box, an Essar Group company, is a digital infrastructure integrator. Its portfolio includes data centre solutions, advanced networking solutions, AI-powered analytics and IoT-enabled devices.
"Despite muted sales growth in FY24, primarily due to delays in project execution and decision-making, Black Box is poised for next growth phase," it said, adding that the firm has revamped its strategy by focusing on the top 300 customers and exiting less profitable long-tail customers, as they do not contribute to margin growth.
Black Box plans to concentrate on data centres, primarily in North America and India, Ventura said.
Data centres constitute about 20 per cent of the company's revenues.
With a customer base that includes major hyperscaler

Black Box, an Essar Group company, is a digital infrastructure integrator. Its portfolio includes data centre solutions, advanced networking solutions, AI-powered analytics and IoT-enabled devices

LG Gram laptops launching at CES 2025. Samsung Good Lock coming to Play Store with One UI 7. Realme 14 Pro series camera. POCO X7 series. Vivo T3x 5G price cut

Vivo T3x 5G smartphone is now priced at Rs 12,499 onwards, Rs 1000 less than its launch price

Disputes between the Delhi government and the LG must be resolved once and for all, the Supreme Court said on Thursday after being informed funds for a scheme meant for road accident victims were released.
The observation of the bench comprising Justices B R Gavai and K V Viswanathan came when the Delhi government said the funds for its "Farishtey Dilli Ke" scheme facilitating free medical treatment to road accident victims in city hospitals were cleared.
The scheme encourages people to rescue and save lives of road accident victims. Under the scheme, the government foots hospital bills of such victims.
The court was hearing the Delhi government's plea on making the scheme functional again by clearing pending bills, releasing payments to private hospitals and initiating disciplinary action against officials responsible for allegedly deliberately orchestrating its "de-operationalisation".
Senior advocate Shadan Farasat, appearing for the Delhi government, informed the bench about th

The scheme encourages people to rescue and save lives of road accident victims. Under the scheme, the government foots hospital bills of such victims

The Karnataka cabinet on Thursday decided to increase the bus fares in the state-owned transport corporations by 15 per cent.
The decision was taken in view of the substantial hike in operational costs such as increase in spending on fuel prices and staff, Karnataka Law and Parliamentary Affairs Minister H K Patil said.
The cabinet has decided to revise the bus fare of the four state transport corporations of Karnataka State Road Transport Corporation (KSRTC), North West Karnataka Road Transport Corporation (NWKRTC), Kalyana Karnataka Road Transport Corporation (KKRTC) and Bangalore Metropolitan Transport Corporation (BMTC) by 15 per cent, Patil said while briefing reporters here.
The Minister said the decision will come into effect from January 5.
According to him, the BMTC bus fares were increased on January 10, 2015 when the diesel prices were Rs 60.90 per litre.
The daily diesel consumption was Rs 9.16 crore 10 years ago by the four corporations, which has now increased to Rs 

The decision was taken in view of the substantial hike in operational costs such as increase in spending on fuel prices and staff, Karnataka Law and Parliamentary Affairs Minister H K Patil said

One of the primary requests made by the FIDC was for a reduction in the loan amount threshold for enforcing security interest under the SARFAESI Act, from Rs 20 lakh to just Rs 1 lakh

India's growing external and internal threats demand urgent shifts in fiscal focus to strengthen defence, policing, and cyber capabilities

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

&amp;nbsp;

After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
						&amp;nbsp;

Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

Keynote Address: T Rabi Sankar, Deputy Governor, RBI

Business Standard BFSI Insight Summit brings together thought leaders from India’s financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.

Explore News