City Mumbai Financial News

Zepto is set to raise another $310 million that will value the quick-commerce firm at $5 billion after the funding, a 40% jump from its last round closed just over a month ago, people in the know said. This will take the total funds raised to nearly $1 billion in two successive rounds for the three-year-old firm. It raised $665 million from a clutch of investors in late June, more than doubling its valuation to $3.6 billion from $1.4 billion in August last year. In a year, Zepto has seen a more than three-and-a-half-time spike in valuation, aided by the rapid rise in demand for quick commerce. Mars Growth Capital, co-run by Mitsubishi UFJ Financial Group Inc and Israel’s Liquidity Group, is set to participate in the next round joining US-based General Catalyst and other existing investors of the Mumbai-based firm for which a term sheet has now been signed, people briefed on the matter said.

Also read | At Sebi, Madhabi Buch doesn't look at ICICI Securities, Blackstone matters Both Madhabi Buch and Dhaval Buch in a joint statement strongly denied the allegations, stating that they have made all necessary disclosures. “Our life and finances are an open book. All disclosures as required have already been furnished to Sebi over the years," they said.

Lounge about what to expect before and after the procedure. Mumbai-based Gita A. Parekh underwent a double mastectomy in 2014.

health insurance claims in Mumbai are due to seasonal infectious diseases, according to insurers. These ailments include vector-borne diseases like dengue and malaria, which see a spike in claims during July and August, and water-borne infections such as gastroenteritis, reported TOI. In winter, common claims arise from conditions like bronchitis and influenza. Many of these claims are linked to local hygiene conditions and could be largely avoidable. Health insurance claims data analyzed by Policybazaar reveals that mosquito-borne diseases such as dengue and malaria constitute 15% of all seasonal illness claims. The typical treatment costs for these diseases range from Rs 50,000 to Rs 1,50,000. The claims for these ailments notably increase in July and August due to the humid conditions conducive to mosquito breeding. Monsoon season also sees a rise in gastroenteritis, accounting for 18% of seasonal claims. The treatment costs for gastroenteritis are similar to those for malaria. Additionally, allergic reactions, which vary by region, contribute to another 10% of seasonal illness claims.

As per market trackers Counterpoint Research and IDC, four Chinese brands-Xiaomi, Vivo, Realme and Oppo-are ranked in the top five for smartphones. The only one not from that country is South Korea's Samsung. Industry executives estimate this will translate into combined sales of almost Rs 90,000-95,000 crore. China's Xiaomi was examined by Indian government agencies over alleged foreign exchange violations in 2022, which coincided with a large proportion of its top leadership changing. The company ceded its No. 1 spot in the December quarter of 2022 to Samsung, eventually sliding to fourth. But by the June quarter this year, Xiaomi was back at the top on the back of an aggressive expansion in offline retail. Vivo is another Chinese company that has faced investigations over allegations of tax violations and money laundering.

cricket captain Sourav Ganguly recalled that former West Bengal Chief Minister Buddhadeb Bhattacharjee, who died on Thursday morning, was crazy for the game and always kept himself updated about the performance of players. On arrival from Mumbai at the N S C Bose International Airport here on Friday, the Indian cricket icon told reporters that not only contemporary cricketers, Bhattacharjee loved to discuss former cricket stalwarts like Pankaj Roy, his captaincy and batting during chats. «Buddha babu was a cricket crazy person. He used to talk to me before and after cricket matches and discuss our performance. He had so much grasp over the game and its rules. He was well-versed in the history of the cricket of Bengal and the country. We will miss such a person,» Ganguly said. He said Bhattacharjee also loved to discuss films and books and it was a pleasure meeting him always.

dal poori in Mauritius, but one which is very different from the original, and which is rooted in East Africa," he says. These kinds of culinary adaptations became more marked just after the partition of India in 1947—an unprecedented migration of people in history. In May 2020, The Partition Museum, Amritsar, spent a week highlighting food memories related to this.

tech capital of India, Bangalore has topped the list of 20 APAC cities with the largest flexible office stock at 15.5 million square feet, surpassing cities such as Shanghai, Seoul, and Tokyo. Following Bangalore, Delhi NCR ranks second with a total flexible office space stock of 10.7 million square feet as of June 2024, mentioned CBRE. Recent growth in the Asia Pacific flexible office space market has been primarily driven by Indian cities, where the expansion is supported by the demand for managed solutions offered by domestic flexible office operators.

Sundaram Home Finance has inaugurated its second branch in Pune as it aims to make disbursements of Rs 450 crore in Maharashtra this year, the company said on Friday. The wholly owned subsidiary of non-banking finance company Sundaram Finance Ltd achieved disbursements of over Rs 250 crore in the Western state last year. Sundaram Home Finance currently has six branches in Maharashtra and would offer home loans targeting the mid-segment of the market with an average ticket size of Rs 40 lakh. The company achieved disbursements of over Rs 100 crore in Pune last financial year. «Pune is turning into a vibrant home finance market and its proximity to Mumbai has led to fast paced growth in terms of infra development and the increasing presence of IT companies. This expansion in Pune follows the success of our first branch in the city,» company Managing Director D Lakshminarayanan said.

fascinating documentary called Katiyabaaz at the Mumbai Film Festival (MAMI). At the time, I had no idea what it was about. Later, I learned that the title translates to "electricity thief," a fitting description for its subject matter.

Inner Mastery, Outer Impact: How Your Five Core Energies Hold The Key To Success. Wadhwa was recently in India to finalise a partnership with Mumbai-based Shilputsi Consultants to bring his work into the country. He spoke to Mint about his research and approach. Edited excerpts: There are five ways in which I have sought to advance the discipline of leadership to challenge the current models, to respond to the challenges that today’s leaders face. Traditional models have had a western, behavioural and outer kind of focus.

BSF) in co-ordination with Border Guard Bangladesh (BGB) facilitated the return of 17 Indian workers who were stranded in Bangladesh since the turmoil started. A BSF spokesperson said that the 17 workers, who were employed by Afcons Infrastructure Pvt Ltd for the construction of 52 km four-lane road from Akhaura to Kishoreganj in Bangladesh, returned to Tripura through the Agartala-Akhaura (Bangladesh) Integrated Check Post (ICP) on Wednesday night. The official said that BSF Tripura Frontier Inspector General Patel Piyush Purusottam Das received a call regarding stranded Indian workers in Bangladesh requiring assistance.

Waqf Board on three ancient ASI-protected monuments in Burhanpur as Waqf property. A large number of properties in India have come under the Waqf claim over past decades, some of which that made it to the headlines were Mukesh Ambani's home, Antilia, in Mumbai, two islands in Bet Dwarka in Gujarat, properties of the ISB, Microsoft, Wipro and Lanco in Hyderabad, Kolkata's Tollygunge Club, Royal Calcutta Golf Club, ITC Windsor Hotel in Bengaluru and a whole village and a temple said to be 1,500 years old in Tamil Nadu. Also Read: Waqf (Amendment) Bill, 2024 moved in Lok Sabha The Waqf Board has been at the centre of several controversies, mostly due to its claims on lands, and many had demanded amendments to the law governing it. Bringing the spotlight on the controversial Waqf law, Union Minister of Minority Affairs Kiren Rijiju has moved Waqf (Amendment) Bill, 2024 in Lok Sabha today amid opposition by several opposition MPs

NEW DELHI : Mumbai-based Deepa Desai, 47, had a harrowing time transferring her provident fund (PF) from one employer to another. Even withdrawal was not easy. Here's why.

Bengaluru a 'Metro' status. Union Minister of State for Finance, Pankaj Chaudhary, explained on Tuesday that under Rule 2A of the Income-tax Rules, 1962, a distinction is maintained between the cities of Mumbai, Kolkata, Delhi, and Chennai, and other places concerning special allowance for residential accommodation under section 10(13A) of the Income-tax Act, 1961. The four designated metropolitan cities have a 50 per cent salary consideration for computing exemption limits, while other cities, including Bengaluru, have a 40 per cent limit, a Bangalore Mirror report stated.

Supreme Court on Thursday said it has listed for hearing on August 9 a plea challenging the verdict of the Bombay High Court which had upheld a decision of a Mumbai college to impose a ban on wearing of 'hijab', 'burqa' and 'naqab' inside the campus. A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra took note of the submissions of a lawyer that the term exam is commencing from today and the students, belonging from a minority community, are bound to face difficulties due the instructions on dress code. Lawyer Abiha Zaidi, appearing for petitioners, including Zainab Abdul Qayyum, sought urgent hearing saying the unit tests in the college are commencing. «It is coming up tomorrow (Friday). I have listed it already,» the CJI said.

India’s growing influence in the Olympics during a bid to host the 2036 Summer Games should soon see a first sponsor deal from the country for the IOC

Bharti Airtel and Reliance Jio have ramped up efforts to expand their fixed wireless access (FWA) offerings to provide home broadband services, which is helping them monetise 5G airwaves and boost data usage. The strategy to offer 5G on standalone (SA) technology for FWA helps the telcos reduce dependency on capital-intensive fibre deployments to offer home broadband services in the near-term, analysts said. The 5G on SA technology is a pureplay 5G network, while 5G non-standalone (NSA) technology — which Airtel uses for speedy deployment of pan-India 5G mobile services — entails a lesser investment as it leverages the existing 4G mobile infrastructure, they said.

interest rates have stayed steady since the end of 2023, showed Knight Frank India’s Affordability Index. Among key cities, Ahmedabad has emerged as the most affordable housing market with an Equated Monthly Instalment (EMI) to income ratio of 21% for an average household. Following closely are Pune and Kolkata, each with an EMI to income ratio of 24%. Mumbai was the only city that remained marginally higher than the threshold at 51%. “Stable affordability is essential to sustaining homebuyer demand and sales momentum, which, in turn, acts as a key economic driver for the country. As income levels rise and economic growth strengthens, end-users’ financial confidence is significantly bolstered, encouraging them to make longer-term financial commitments toward asset creation,” said Shishir Baijal, CMD, Knight Frank India.

Mumbai: Seven years after losing the tax edge that had made it India's second-biggest source of capital, Mauritius is eyeing a comeback, this time through the GIFT City route. The island nation's International Financial Centre (IFC) is considering opening an office in Gujarat International Finance Tec-City (GIFT City), a top Mauritius minister said. A large Mauritius delegation currently visiting India will meet officials of the International Financial Services Centres Authority (IFSCA) to discuss areas of collaboration, including equivalence between the two.