Layoffs / Restructuring
Startup Funding
Cabinet approves Rs 5,000cr equity infusion for Sidbi
The Union cabinet has approved Rs 5,000 crore in equity support for Sidbi to boost credit flow to small businesses. This infusion, spread over three years, aims to enable Sidbi to offer competitive loans to MSMEs. The initiative is projected to create 1.1 crore jobs and add 25.7 lakh new MSME beneficiaries by 2027-28.
Industry Trends
Apple to revamp Siri as a built-in iPhone, Mac AI chatbot to fend off OpenAI
Apple's AI chatbot, codenamed Campos, will be embedded deeply into the iPhone, iPad and Mac and replace the Siri interface.
Hiring News
Capri Global Capital CEO Monu Ratra steps down
In his resignation letter addressed to the company's board of directors, Ratra said that after careful thought and personal reflection, he had decided to explore entrepreneurial opportunities.
Industry Trends
ET@Davos: Private investment to rebound once tariff disruption settles, says CS Setty, Chairman, SBI
SBI Chairman Challa Sreenivasulu Setty anticipates a private investment rebound once US tariff issues resolve. He believes SBI can achieve its growth aims organically, focusing on AI to boost efficiency. Setty also noted room for consolidation in public sector banking, but SBI does not need inorganic growth. Savings accounts are stable, but current accounts are impacted by government cash management.
Government Jobs
NITI Aayog suggests setting up of national agency to implement green transition for MSMEs
NITI Aayog recommends a national project management agency for MSMEs’ green energy transition, aiming for net zero by 2070, with sector-specific roadmaps for cement and aluminium industries.
Startup Funding
Payoneer gets in-principle nod from RBI to operate as cross-border payment aggregator
Payoneer India gets Reserve Bank of India nod as payment aggregator-cross border, enabling import and export transactions. CEO Rohit Kulkarni highlights global reach and regulatory presence.
Startup Funding
Senco Gold acquires 68% stake in August Jewellery for ₹68 crore
Senco Gold Ltd's board approved a ₹68 crore investment to acquire 68% stake in August Jewellery Private Limited (AJPL), owner of the Melorra brand. AJPL, incorporated in 2015, operates 21 stores across India and specialises in fast-fashion lightweight jewellery. The acquisition aims to strengthen Senco’s digital and omnichannel strategy, create synergies, and enhance innovation and customer experience.
Industry Trends
Microsoft 365 down: Several users report outages with Outlook and Teams
Microsoft 365 experienced a significant outage on Wednesday, affecting thousands of users across major cities like Minneapolis, Chicago, and Los Angeles. Issues with Teams and Outlook were reported, with over 4,000 disruptions noted on Downdetector.
Government Jobs
Local audit push: CAG flags capacity gaps, calls for stronger PAIs and tech-led audits
India's top auditor has urged strengthening local government audit bodies to boost transparency and quality at the grassroots. A national workshop highlighted challenges and best practices, focusing on improving audit frameworks, technology adoption, and capacity building for local fund audit directors. The aim is to ensure better oversight and public fund utilization.
Industry Trends
New labour codes weigh on BFSI sector's earnings
New labour laws in India have increased costs for banks, NBFCs, and insurance firms. Companies adjusted staff benefits to comply with these reforms. HDFC Bank reported an expense impact of about Rs 800 crore. Other lenders like ICICI Bank and Yes Bank also saw significant impacts.