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Automaker <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> lndia has invested about Rs 1.99 crore in <keyword id="21061376" type="General" weightage="20" keywordseo="amlgo-labs-private-limited" source="keywords">Amlgo Labs Private Limited</keyword>, a technology-led startup. The startup operates in the area of data analytics, cloud engineering, machine learning (ML) and artificial intelligence (Al), to assist companies in data driven decision making. With this, Maruti Suzuki will own an equity stake of over 6.44 per cent in the startup, the automaker informed stock exchanges on Saturday. The investment is being made through the Maruti Suzuki lnnovation Fund, an initiative to undertake strategic investments in startups which exhibit high levels of technological innovation. This is the second such investment by the company. Earlier, the company invested in <keyword id="21061374" type="General" weightage="20" keywordseo="sociograph-solutions-private-limited" source="keywords">Sociograph Solutions Private Limited</keyword>, specialised in AI, in June 2022. "We have been working with startups since 2019, as a part of the Maruti Suzuki lnnovation Program. Aligned with the government's Start Up India initiative, we are actively working to help strengthen the startup ecosystem and encourage innovation to develop solutions relevant to the automobile industry," HisashiTakeuchi, Managing Director and CEO, Maruti Suzuki India. "Our investment in Amlgo Labs Private Limited will help us to further strengthen quality of new models, using advanced analytics and machine learning," Takeuchi added. According to <keyword id="20693796" type="General" weightage="20" keywordseo="ajay-yadav" source="keywords">Ajay Yadav</keyword>, Founder, Amlgo Labs Private Limited said, "Our collaboration with Maruti Suzuki has proven to be fruitful, helping our company augment and scale up operations. Combining our expertise in Data Analytics, Machine Learning and Artificial Intelligence based solutions, with mentorship and networking opportunities offered by Maruti Suzuki, we will be able to further refine our offering." Started its journey in July 2017, the startup firm has offices in Gurugram and Bengaluru in lndia and Delaware in the US. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a><a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank">Asus ROG Strix Scar 16 review – powerful gaming laptop with a cool design</a>

Maruti Suzuki invests in machine learning, artificial intelligence startup Amlgo Labs

Before initiating a business, one must be well informed of the different types of business set-ups and the implications of their structure. Here we discuss the basic differences between a Limited and <keyword id="2626746" type="PERSON" weightage="20" keywordseo="Private-Limited-Company">Private Limited company</keyword>. To start with, both public limited and private limited companies are forms of joint stock companies. We can say a joint stock company is a kind of business organization that has multiple owners. What is Private Limited Company? In a Private Limited company, a minimum of 2 owners must be there and the maximum number of owners is 50. In case of a private limited company, there are restrictions in place with regard to the transfer of shares. The shares of a private limited company cannot be transferred freely as can be done in the case of <keyword id="966996" type="ORGANIZATION" weightage="20" keywordseo="public-limited-company">public limited company</keyword>. Know that the shares of a public limited company can be transferred without any restrictions on a stock exchange. A private limited company can never call in the public to buy its shares or debentures. It can also not accept deposits from the public other than its owners, directors or their relatives. The minimum paid up share <keyword id="691414" type="PERSON" weightage="20" keywordseo="capital-requirement">capital requirement</keyword> for a private limited company is rupees one lakh. This means that the owners must first pool in a sum of rupees one lakh from their own pockets before starting the business towards the capital. Every private limited company must have the suffix “Private Limited” at the end of its name (Ex: XYZ Pvt. Ltd.). What is Public Limited Company? A public Limited Company is a kind of joint stock company that is not a private limited company in the first place. In case of a public company, there are no restrictions whatsoever on the transfer of shares. The shares of a public limited company can be transferred freely on stock exchanges. In a public limited company, there must be a minimum of 7 members and there is no upper limit to the number of members that a public limited company can have. The minimum paid up share capital requirement for a public limited company is rupees five lakhs. This means that the owners must first pool in a sum of rupees five lakhs from their own pockets before starting the business towards the capital. Every public limited company must have the suffix “Limited” at the end of its name (Ex: XYZ Ltd.). A public limited company must have a minimum of 3 directors. Directors are the representatives elected by the shareholders or owners to administer the business on their behalf. The directors of a public limited company must give their consent in writing to the Registrar to function as the director of the company. They must also sign an undertaking to acquire the qualification shares of the given public limited company. A public limited company can start its operations only when it has received a Certificate to commencement of business. A public limited company can call in the public to buy its shares. It can also accept deposits from the general public.

Difference between Public Limited and Private Limited Company

New Delhi, Jun 12 () The Competition Commission on Friday said it has approved the acquisition of certain stakes in 91Streets Media Technologies, Ascent Health and Wellness Solutions, and API Holdings by MacRitchie Investments. As per a combination notice filed with the Competition Commission of India (CCI), the proposed transaction is a "financial investment for MacRitchie, which is taking place in ordinary course of business." It would provide an opportunity for MacRitchie to invest and participate in the long-term growth of the market for wholesale sale and distribution of drugs in India, it noted. Besides, 91Streets Media Technologies, Ascent Health and Wellness Solutions and API Holding will use this financing to deepen their distribution network across India and build innovative technology-first products to connect the entire ecosystem and give affordable access to healthcare, the notice said. In a tweet, the regulator said it "approves acquisition by MacRitchie Investments Pte. Ltd. of certain stakes in 91Streets Media Technologies Private Limited, Ascent Health and Wellness Solutions Private Limited and API Holdings Private Limited." SRS RUJ RUJ

MacRitchie's stake buy in 91Streets, Ascent Health & Wellness Solutions, API Holdings gets CCI nod

Aon Hewitt, the global talent, retirement and health solutions business, has announced its list of Best Employers – India 2016. 
 
 
The purpose of Aon Best Employers study, which was first conducted in Asia in 2001, is to gain insights into companies that are creating real competitive advantage through their people, to explore the factors that make a workplace of choice and to identify the Best Employers. 
The most comprehensive study of its kind in Asia Pacific, it is now run in 12 markets: Australia &amp; New Zealand China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand as well as in the Middle East. 
 
The survey done in India this year covered 113 organizations representing 12 key industries, cumulatively employing approximately 950,000 employees. 
 
Below are the names of the jury for the 2016 edition: 
 
· Prof Rajan Gupta, Professor at MDI. 
· Mr. Raman Roy, BPO industry pioneer and Chairman and Chief, Quattro 
· Ms. Renu Sud Karnad Managing Director, HDFC Limited 
· Dr. Santrupt Misra , CEO, Carbon Black Business and Director, Group HR, Aditya Birla Group 
· Mr. Shiv Shivakumar, CEO, Pepscio India 
 
And finally, here is the list of organisations that were recognised as the 2016 Aon Best Employers in India: 
 
<table border="0" cellpadding="0" cellspacing="0">
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								Accor Hotels India</td>
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								Reliance Capital Asset Management Limited</td>
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								AGS Health</td>
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								Saint-Gobain India Private Limited – Gyproc Business</td>
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								Bajaj Allianz General Insurance Company Limited</td>
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								SKS Microfinance Limited</td>
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								Bajaj Finance Limited</td>
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								Starwood Hotels &amp; Resorts India Private Limited</td>
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								Becton Dickinson India Private Limited</td>
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								Tata AutoComp Systems Limited</td>
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								Bharti Infratel</td>
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								TATA AIA Life Insurance Company Limited</td>
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								Blue Dart Express Limited</td>
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								Tata Chemicals Ltd.</td>
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								DHL Express (India) Pvt. Ltd</td>
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								Tata Communications</td>
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								Godrej Consumer Products Ltd</td>
							<td>
								The Oberoi Group</td>
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								Hewlett Packard Enterprise, India</td>
							<td>
								Whirlpool India Limited</td>
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							<td>
								IndiGo</td>
							<td>
								WNS Global Services Private Limited</td>
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								Lupin Ltd</td>
							<td>
								YASH Technologies Pvt Ltd</td>
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							<td>
								METRO Cash and Carry India</td>
							<td>
								 </td>
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					</tbody>
				</table>
			</td>
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	</tbody>
</table>
 
<a href="http://www.insidehr.com.au/wp-content/uploads/2014/05/Best-employers.jpg">Image source</a>

These are the best employers in India, as per Aon Hewitt

New Delhi [India], July 19 (ANI): <keyword id="19899016" type="General" weightage="100" keywordseo="Vodafone-Idea" source="keywords" meta.keywordsubtype="org" meta.entityname="Vodafone Idea" meta.hostid="261" meta.entityid="Vodafone Idea">Vodafone Idea</keyword> approved the allotment of more than <keyword id="22467816" type="General" weightage="20" keywordseo="40-crore-shares" source="Orion">40 crore shares</keyword> on a preferential basis to <keyword id="6354716" type="General" weightage="20" keywordseo="Nokia" source="Orion">Nokia</keyword> Solutions and Networks India and to <keyword id="330957" type="General" weightage="20" keywordseo="Ericsson-India" source="Orion">Ericsson India</keyword>, the company informed the exchange in a filing. The company stated that this preferential allotment is in accordance with SEBI's regulations which totals around <keyword id="22467815" type="General" weightage="20" keywordseo="Rs-615-crore" source="keywords">Rs 615 crore</keyword> and represents a strategic move to enhance the company's capital base. According to the statement by the company, the breakdown includes around 25 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> to Nokia Solutions and Networks India Pvt. and over 15 crore equity shares to Ericsson India Pvt. The issue price per equity share was set at Rs. 14.80, including a premium of Rs. 4.80 per share at a face value of Rs 10 per share. "The Capital Raising Committee of the Board ("Capital Raising Committee") has, at its meeting, approved the second tranche of allotment of 41,52,02,701 Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 14.80 per equity share (including a premium of Rs. 4.80 per equity share), to Nokia Solutions and Networks India Private Limited (25,67,56,756 Equity Shares) and Ericsson India Private Limited (15,84,45,945 Equity Shares), aggregating to Rs. 614.5 crores, on a preferential basis" said the company. Recently, Vodafone Idea (<keyword id="634808" type="General" weightage="20" keywordseo="VIL" source="Orion">VIL</keyword>) added 0.8 million mobile broadband (MBB) subscribers in May, but the company continued to see declines in both overall and active subscriber bases, losing 0.9 million and 1.7 million subscribers, respectively. The shares of Vodafone Idea closed at Rs 16.32 after a decline of more than 2 per cent on Thursday.

Vodafone Idea to raise Rs 615 crore through preferential shares allotment to Nokia and Ericsson India

Weeks after the <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> government named the cities which are to be transformed into <keyword id="6377036" type="UNKNOWN" weightage="20" keywordseo="smart-cities">smart cities</keyword>, we came across the list of firms that have been assigned the job. 
 Consulting firms like <keyword id="6359483" type="CITY" weightage="20" keywordseo="Crisil">CRISIL</keyword>, <keyword id="50041" type="CITY" weightage="20" keywordseo="KPMG">KPMG</keyword>, <keyword id="6372399" type="COMPANY" weightage="20" keywordseo="McKinsey">McKinsey</keyword> and Mott MacDonald are among those 37 companies which will prepare the roadmap for the 88 out of a total 98 cities’ list that the Modi government plans to develop as smart cities. An Economic Times report revealed that the consulting firms’ names for the remaining 10 cities will come-up by the end of this week. 
 
States like Uttar Pradesh and Jammu &amp; Kashmir are yet to nominate a city under this very ambitious plan, wherein the government plans to develop basic infrastructure and enhance urban living. 
 
KPMG will develop an action plan for New Delhi Municipal Council (NDMC) area while McKinsey will do it for Pune. 
 For the <keyword id="513113" type="UNKNOWN" weightage="20" keywordseo="smart-city">Smart City</keyword> Mission, a two-day "Ideas Camp" has been organised to enable effective participation of all the 98 cities in the second stage of <keyword id="3088459" type="UNKNOWN" weightage="20" keywordseo="City-Challenge">City Challenge</keyword> competition. However, only 20 cities will be selected out of the total number in the first lot. 
 
CRISIL Risk and Infrastructure Solutions Limited in association with Pri Move Infrastructure Development Consultants Private Ltd and Probity Soft Private Limited have bagged the contract for six cities – Nagpur, Kalian-Dombivali, Nasik, Thane, Solapur and Amaravati. 
 
While Jones Lang La Salle Property Consultants India Pvt Ltd in association with Townland Consultants Pvt Ltd and Tata Consulting Engineers will work in the cities including Vadodara, Bhubaneswar, Amritsar, Chennai and Tiruchirapalli, the business daily revealed. 
 
ICRA Management Consulting Private Limited in association with NJS Engineers India Private Limited and All-India Institute of Local Self-Government has managed to get for five cities including Rajkot, Kochi, Ajmer, Erode and Coimbattore, as per ET. 
 
According the plan, the Ministry of Urban Development will provide Rs 100 crore to each of the cities over the next five years. On the other hand, the central government has decided to provide Rs 48,000 crore for the mission. The government will also provide the funds to urban local bodies at frequent intervals in the next five years. 
 
The central government has also asked the state governments to generate the equal amount as the cost of the Smart City Mission is estimated to be around Rs 96,000 crore. 
 
Kanpur, Ghaziabad and Thanjavur will seek help of Dorsh Holding GmbH in association with Dorsh Consult India Pvt Ltd and L R Kadaliya and Associates to prepare plans. While Greater Mumbai, Muzaffarpur, Durgapur (Bengal) will take help from Alia Consulting Solutions Pvt Ltd and Genesis Fin. 
 
The Economic Times also added that Lucknow and Namchi (Sikkim) are working with Dataworld Pty Ltd in association with Innovest Advisory Services Pvt Ltd and Caritas Eco Systems Pvt Ltd for finalising plans. 
 
On the other hand, Hyderabad and Aurangabad are with Knight Frank (India) Pvt ltd with Fortress Infrastructure services and PSP Financial Consultants Pvt Ltd. 
 
Moving on to Navi Mumbai, we see that the city has to preapare plan with Tandon Urban Solutions Pvt Ltd with Spatial Decisions and Maha Infortech Pvt Ltd while Bhopal will do it with Price Waterhouse Coopers with Rudrabhishek Enterprise and CPG Consultants Pvt Ltd. Visakhapatnam and Ludhiana are to take assistance from AECOM India Pvt Ltd with AECOM Asia Company Ltd and Varanasi and Jhansi from N K Buildcon Pvt Ltd. 
 
All city-wise Smart City Plans will be evaluated in the second stage of the 'City Challenge' competition for identifying the top ranking 20 cities for financing during the current financial year. 
Image: indiatimes

Meet the army that’ll make the ‘Smart City’ dream a reality

Automakers are turning to networking and telecommunications solutions as they look for ways to improve the precision of manufacturing operations and implement connected equipment.<div class="KonaFilter image-container display-table float_right no-rightrail"><div><div class="image"></div></div></div> Rather than relying upon wired systems or public-access cellular networks, they're looking to private 5G networks for their facilities to create dedicated, fast, and secure communication channels. Here are two new partnerships that illustrate just how this space is evolving:<ul><li>Swedish networking provider Ericsson and Telefónica Germany are <a href="https://e.businessinsider.com/click/17339803.2/aHR0cHM6Ly93d3cuZXJpY3Nzb24uY29tL2VuL25ld3MvMjAxOS82L21lcmNlZGVzLWJlbnotZXJpY3Nzb24tYW5kLXRlbGVmb25pY2EtNWctY2FyLW1hbnVmYWN0dXJpbmc/5adde55340f86675182a51c9B8316188e" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17339803.2/aHR0cHM6Ly93d3cuZXJpY3Nzb24uY29tL2VuL25ld3MvMjAxOS82L21lcmNlZGVzLWJlbnotZXJpY3Nzb24tYW5kLXRlbGVmb25pY2EtNWctY2FyLW1hbnVmYWN0dXJpbmc/5adde55340f86675182a51c9B8316188e&amp;source=gmail&amp;ust=1561812554621000&amp;usg=AFQjCNHnUkDjZM8pfW08JNBNSn_PR-nTbw">working with</a> Mercedes-Benz to build a private 5G network at a new automotive production facility in southern Germany. The 215,000-square-foot manufacturing center, dubbed Factory 56, will incorporate machinery that natively connects to a 5G network that will also be put in place. Using 5G, the equipment will be able to share data and receive commands wirelessly and over longer ranges than other comparably fast standards, such as Wi-Fi. And by forgoing wired networking lines and equipment, the facility can be reconfigured to incorporate changes to manufacturing orders or procedures more quickly. Mercedes-Benz plans to take lessons from Factory 56 and apply them to other facilities going forward.</li><li>Ericsson has also <a href="https://e.businessinsider.com/click/17339803.2/aHR0cHM6Ly9pb3RidXNpbmVzc25ld3MuY29tLzIwMTkvMDYvMjYvNDA4NzEtZXJpY3Nzb24tdm9kYWZvbmUtYW5kLWUtZ28tbGF1bmNoLTVnLWNhci1tYW51ZmFjdHVyaW5nLWluLWdlcm1hbnkv/5adde55340f86675182a51c9B19010e65" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17339803.2/aHR0cHM6Ly9pb3RidXNpbmVzc25ld3MuY29tLzIwMTkvMDYvMjYvNDA4NzEtZXJpY3Nzb24tdm9kYWZvbmUtYW5kLWUtZ28tbGF1bmNoLTVnLWNhci1tYW51ZmFjdHVyaW5nLWluLWdlcm1hbnkv/5adde55340f86675182a51c9B19010e65&amp;source=gmail&amp;ust=1561812554621000&amp;usg=AFQjCNG097JzoxVJCXK7UVAbyBpwGJAsAQ">partnered</a> with Vodafone Germany and German electric microcar manufacturer e.Go on 5G connectivity. Ericsson's private network solution will help e.Go enable 5G connectivity in its 91,000-square-foot factory in Aachen, Germany, using 36 antennas managed via network slicing and mobile edge computing systems. The aim of this networking solution is to use a minimal number of network access nodes to provide real-time communications throughout the facility and enable various systems and equipment to coordinate activities.</li></ul>The bigger picture: Private networking solutions offer enterprises of all kinds greater versatility and control over communications within their facilities.Business Insider Intelligence <a href="https://e.businessinsider.com/click/17339803.2/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L2hvdy1ub2tpYXMtdXNpbmctcHJpdmF0ZS1sdGUtbmV0d29ya3MtdG8tZW5hYmxlLWlvdC1wb3dlcmVkLW1pbmluZy1hdC1yZW1vdGUtc2l0ZXMtMjAxOS0y/5adde55340f86675182a51c9B89aadf2b" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17339803.2/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L2hvdy1ub2tpYXMtdXNpbmctcHJpdmF0ZS1sdGUtbmV0d29ya3MtdG8tZW5hYmxlLWlvdC1wb3dlcmVkLW1pbmluZy1hdC1yZW1vdGUtc2l0ZXMtMjAxOS0y/5adde55340f86675182a51c9B89aadf2b&amp;source=gmail&amp;ust=1561812554621000&amp;usg=AFQjCNFQsura_FsrBh5V9OexAtl6Jta8eQ">spoke with</a> Jaime Laguna, global program sales leader for mining at Nokia, about the company's private networking solutions. He highlighted three main reasons that companies would opt for a private network in comparison to a public one:<ul><li>Private networks yield better performance because they can be tailored to support mission-critical applications above all else.Private networks are purpose-built for enterprise applications, compared with public networks, which are offered by a service provider. That's important, Laguna told us, because "the use cases that the service providers are used to are not necessarily mission-critical applications. Latency for a mission-critical application is critical." </li><li>These types of networks can also offer enhanced security. Private networks are isolated and segmented away from other traffic, and retain all information within their parameters. This limits the possibility that they could be breached. </li><li>And a private network is dedicated to a single business, offering greater reliability and a faster response to any service issues that may arise. On a public network, businesses must share services with other customers.</li></ul>The automotive space is among the first to take to private 5G networks, likely due to its volume and long but predictable production and transition cycles. This demand will expand beyond the automotive sector in the coming years as companies look to take control of their connectivity as it becomes a more central part of their everyday operations.<a href="https://www.businessinsider.com/intelligence/top-3-biggest-smartphone-trends?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=appsandplatforms&amp;itm_campaign=top-3-biggest-smartphone-trends"></a>

2 new partnerships illustrate how private 5G networking solutions are boosting automakers' connectivity

The government on Tuesday said it received bids from seven companies including <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> and <keyword id="20226597" type="General" weightage="20" keywordseo="JSW-Neo-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Neo Energy" meta.hostid="261" meta.entityid="JSW Neo Energy">JSW Neo Energy</keyword> for production-linked incentives to set up battery manufacturing facilities of 10 GWh capacity with an outlay of Rs 3,620 crore. The other bidders on the list included ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, <keyword id="21402810" type="General" weightage="20" keywordseo="Lucas-TVS" source="keywords">Lucas TVS</keyword> Limited, and Waaree Energies Limited. The bids for manufacturing facilities with a cumulative capacity of 70 GWh came in response to a global tender issued by the Heavy Industries Ministry on January 24 this year. "The scheme received an overwhelming response from industry as bids received is 7 times the manufacturing capacity of 10 GWh to be awarded," the ministry stated. The ministry had announced the re-bidding of Production Linked Incentives (PLI) for 10 GWh <keyword id="20049274" type="General" weightage="20" keywordseo="Advanced-Chemistry-Cell" source="keywords">Advanced Chemistry Cell</keyword> (ACC) manufacturing. The pre-bid meeting was held on 12 February. The last date for receiving applications was April 22 and the technical bids were opened on Tuesday. In May 2021, the Union Cabinet had approved the PLI scheme for the National Programme on ACC battery storage with an outlay of Rs 18,100 crore. The scheme aims to achieve domestic manufacturing capacity of 50 Giga Watt hours (GWh) of battery storage. The first round of bidding was concluded in March 2022 and three companies were allocated a total capacity of 30 GWh. The agreement with selected companies was signed in July 2022. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank">Best smartphones under ₹25,000 in India</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

Reliance, JSW Neo Energy and 5 others bid for govt incentives to set up battery manufacturing units

The <a href="http://www.businessinsider.in/searchresult.cms?query=foreign+direct+investment">foreign direct investment (FDI) </a>in private sector banks might go up by 100%. The matter is now being discussed by the <keyword id="156153" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Finance">Ministry of Finance</keyword>, the <a href="http://www.businessinsider.in/searchresult.cms?query=DIPP">department of industrial policy &amp; promotion (DIPP)</a> and the <a href="http://www.businessinsider.in/searchresult.cms?query=RBI">Reserve Bank of India (RBI).</a> 
 As published in an Economic Times report, <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, <a href="http://www.businessinsider.in/searchresult.cms?query=HDFC+">HDFC Bank </a>and other private sector banks might become fully foreign-owned entities, with an aim to raise investments from overseas. 
 
The move will come in connection to the government’s aim of fetching more and more foreign direct investment and open up key sectors for overseas participation. 
 ICICI Bank, as believed by the Reserve <keyword id="6355303" type="CITY" weightage="20" keywordseo="Bank-of-India">Bank of India</keyword>, is one among the two of India’s most systemically important banks. The other one being government-owned <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword>. 
 Currently, the <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword> limit is 74% out of which, 49% is allowed automatically and the rest needs to be approved by the Foreign Investment Promotion Board (FIPB). 
 
According to the officials, who requested anonymity, "The MoF response is still awaited but it is likely they will agree. Any decision will be taken after there is an agreement between all stakeholders." 
 What the industry experts are talking of is the solution that the additional 26% increase be subjected to the approval route. Allowing an increase to the maximum will provide room for further overseas investment, given that this is already close to the 74% limit in <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword>, the country's biggest private bank by market capitalisation. While in ICICI Bank, it’s about 70%. 
 Establishing foreign banks to set up wholly-owned subsidiaries in India could also be considered. It would then follow that private sector banks that are majority foreign owned can be 100% overseas held subject to safeguards. Abolishing the limit may help persuade foreign banks to set up local units as the <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> wants. 
 
"This may further give India the leverage to push foreign banks to open wholly-owned subsidiaries in the country," said the official. So far, only four foreign banks have applied to the RBI seeking approval for wholly-owned subsidiaries. The idea is that once they do this, such banks would be treated on par with local ones. 
 
In July, the government approved a composite cap policy for foreign investment, implying that there will be no sub-limit within the overall overseas ceiling for any particular investor category. 
 
However, in the case of private banks, the specific sub cap of 49% on foreign portfolio investment remains given concerns over volatile flows into and out of sectors that are critical to the economy. 
Image: indiatimes

Some of India’s top Pvt Banks could soon lose their ‘Indian’ status

Integrated manufacturing solutions company <keyword id="6521648" type="General" weightage="50" keywordseo="sanmina-corporation" source="Orion">Sanmina Corporation</keyword> and <keyword id="10849195" type="General" weightage="50" keywordseo="reliance-strategic-business-ventures-limited" source="Orion">Reliance Strategic Business Ventures Limited</keyword> (RSBVL), a wholly-owned subsidiary of <keyword id="10926" type="General" weightage="50" keywordseo="reliance" source="Orion">Reliance</keyword> Industries Limited (RIL), on Tuesday announced the completion of their joint venture transaction. The joint venture will create a world-class electronic manufacturing hub in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, in line with Prime Minister Narendra Modi's 'Make in India' vision. All the manufacturing will take place at <keyword id="315784" type="General" weightage="100" keywordseo="sanmina" source="Orion">Sanmina</keyword>'s 100-acre campus in Chennai, with the ability for site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in India over time based on business needs, the companies said in a statement. The day-to-day business will continue to be managed by Sanmina's management team in Chennai. The joint venture will prioritise high technology infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyperscale data centers), medical and healthcare systems, industrial and cleantech, and defence and aerospace. "In addition to supporting Sanmina's current customer base, the joint venture will create a state-of-the-art 'Manufacturing Technology Center of Excellence' that will serve as an incubation center to support the product development and hardware startup ecosystem in India, as well as promote research and innovation of leading-edge technologies," said the companies. Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the communications networks, cloud solutions, industrial, defence, medical and automotive markets. Currently ranking 104th, Reliance is the largest private sector company from India to feature in Fortune's Global 500 list of 'World's Largest Companies' for 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/national-green-tribunal-slaps-telangana-with-a-3800-cr-fine-for-waste-management-failure/articleshow/94636341.cms">National Green Tribunal slaps Telangana with a ₹3,800 cr fine for waste management failure</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-5g-prices-may-be-affordable-for-now-but-expected-to-increase-after-wider-rollout/articleshow/94636173.cms">Reliance Jio and Airtel 5G prices may be affordable for now but expected to increase after wider rollout</a>

RIL, Sanmina completes JV to build manufacturing hub in India

New Delhi, Mar 17 () China-based Kehua Tech on Tuesday said it has entered into a partnership with domestic solar firm Oakridge Energy to provide green power solutions at residential and commercial sites in India. Under the partnership, Oakridge will distribute Kehua Tech's SPI series inverters in India, providing sale and after sales support, Kehua Tech said in a statement. "Oakridge Energy is north India's leading solar rooftop installer. We are looking forward to cooperate with the company to bring more advanced PV (photovaltic) technology and products to India, and deliver more reliable and greener power," Sunny Xu, CEO of Kehua Technology Private Limited said in the statement. Kehua Tech provides solar solutions in the commercial and industrial sectors. "(Kehua Tech's inverters are known for their high efficiency, low weight, and pleasing aesthetics. Our partnership allows us to deliver economical and more reliable rooftop solar systems in the Indian market," Shravan Sampath, the CEO of Oakridge Energy, said. ABI MRMR

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