CoinDCX is investigating a security breach of an internal operational account, assuring customers that their funds are safe. Blockchain experts detected suspicious fund transfers, estimating a loss of around $44 million. The exchange has isolated the affected account, is working with cybersecurity firms, and will cover the loss from its treasury while tracing the funds.
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Reliance Industries is prioritizing organic growth in India's quick commerce sector, foregoing acquisitions due to integration complexities and a robust existing customer base. The company leverages its retail stores and strategically located dark stores to meet demand, focusing on profitability and expanding beyond metropolitan areas.
Electric car sales in India are expected to rise. CareEdge Advisory projects over 7% sales by FY28. This depends on resolving rare earth element supply issues. New models and charging infrastructure are growing. Government's PLI scheme supports battery production. Electric car ecosystem has grown rapidly. Policy support and reduced costs will boost EV adoption in India.
NLC India, a state-owned enterprise, is in advanced talks with a Russian entity to secure lithium from a mine in Mali, Africa, a crucial move for India's energy transition. This initiative aligns with India's strategy to ensure consistent lithium supplies for its clean energy goals, particularly for electric vehicle batteries.
IIFL Home Finance has received $100 million from the Asian Infrastructure Investment Bank. The funding aims to expand affordable housing loans. It will support families from economically weaker sections and lower income groups. The company will finance green affordable housing projects. This initiative aligns with India's climate commitments and Pradhan Mantri Awas Yojana Urban.
Blackstone has withdrawn from the consortium aiming to invest in TikTok's US operations, adding to the uncertainty surrounding the deal. The investment group, led by Susquehanna International Group and General Atlantic, was considered the front-runner to acquire majority control. The exit comes amid delays and US-China trade tensions.
RBI's new directive allows banks to accept voluntary gold and silver pledges for agricultural and MSME loans up to Rs 2 lakh, even within collateral-free limits. This aims to enhance financial inclusion in rural areas where gold is a liquid asset, enabling faster loan processing and reducing reliance on informal lenders.
CoinDCX is investigating a security breach of an internal operational account, assuring customers that their funds are safe. Blockchain experts detected suspicious fund transfers, estimating a loss of around $44 million. The exchange has isolated the affected account, is working with cybersecurity firms, and will cover the loss from its treasury while tracing the funds.
The Cabinet Committee on Economic Affairs has approved an exemption for NLC India Ltd, allowing a Rs 7,000 crore investment in its renewable energy subsidiary without prior government approval or net worth restrictions. This decision supports NLCIL's ambitious renewable energy targets of 10.11 GW by 2030 and 32 GW by 2047, aligning with India's COP26 commitments and Net Zero goals.
VinFast Auto India is gearing up for its Indian market entry by partnering with 13 dealer groups to establish 32 dealerships across 27 cities. Aiming for 35 dealerships by 2025, this move supports the launch of VinFast's electric SUVs. Pre-booking for the VF 6 and VF 7 models starts on July 15.