The Reserve Bank of India (RBI) has approved the appointment of C S Rajan, an independent director of Kotak Mahindra Bank, as its part-time chairman for a period of two years, with effect from January 1, 2024, the lender told the exchanges.

Rajan’s appointment follows the retirement of the incumbent non-executive independent part-time chairman, Prakash Apte, whose term expires onDecember 31, 2023.

Food delivery platform Zomato has received a Rs 401.7 crore show cause notice from the Directorate General of GST Intelligence, Pune Zonal Unit, the company said in a regulatory filing late on Wednesday. The notice is based on the non-payment of goods and services tax (GST) on money collected by the company as delivery charges from the customers.

In the regulatory filing, the company said, "The show cause notice requires the company to show cause as to why an alleged tax liability of Rs 401,70,14,706 along with interest and penalty for the period from October 29, 2019, to March 31, 2022, should not be demanded from the company.

Reliance Jio Infocomm chairman Akash Ambani on Wednesday said the country's largest telco is working with Indian Institute of Technology-Bombay to launch a 'Bharat GPT' programme.

The company, a unit of Reliance Industries, is also "comprehensively thinking" to launch an operating system for televisions, he said, adding that it has been working on it for a while now.

Adani Green Energy Ltd, on Wednesday, announced that it has completed a joint venture agreement with TotalEnergies Renewables Singapore Pte Limited where the latter has acquired a 50 per cent stake in Adani Renewable Energy Nine Limited for $300 million. ARE9L houses a 1,050 MW project portfolio.

The total comprises a mix of already operational (300 MW), under construction (500 MW) and under development assets (250 MW) with a blend of both solar and wind power projects in India.

As Ayodhya gears up for the consecration ceremony at the Ram temple next month, a set of imposing sun-themed pillars -- 'Surya Stambhs' -- are being installed along a prominent road of the temple town.

Each of the 30-foot-high pillars has an ornamental orb which when lit at night resembles the Sun.

Auto components maker Happy Forgings (HFL) had a decent stock market debut on Wednesday with its shares listing 18 per cent higher at Rs 1,001.25 on the BSE against the issue price of Rs 850. On the National Stock Exchange (NSE), the stock listed at Rs 1,000 per share.

At 10:01 AM; HFL was quoting at Rs 974.05, nearly 15 per cent higher against its issue price. The stock hit a high of Rs 1,026.45 and a low of Rs 961 on the BSE in intra-day trade.

The price of 24-carat gold rose Rs 220 during early trade on Wednesday, with ten grams of the precious metal selling at Rs 63,710, according to the GoodReturns website. The price of silver climbed Rs 300 with one kilogram of the precious metal selling at Rs 79,500.

The price of 22-carat gold was up Rs 200 at Rs 58,400.

IT major Wipro has filed a case against Jatin Dalal, its former chief financial officer (CFO), according to a report by the Times of India (TOI). Dalal was Infosys CFO since April 2015 and moved to Cognizant on December 1.

The charges of the plea are unclear but the report added that the case has been heard by a Bengaluru civil court from both the parties and the next hearing is scheduled for January 3. Dalal has sought that the matter be referred to arbitration.

The production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 95,000 crore in investment till September this year, an official statement said on Tuesday.

According to the Commerce and Industry Ministry, as many as 746 applications have been approved till November 2023 under these schemes.

The Health Ministry confirmed that 63 cases of the JN.1 Covid-19 sub-variant have been detected in India till December 24.

Goa, with 34 cases, reported the maximum detections of the JN.1 sub-variant, followed by Maharashtra with nine cases, Karnataka with eight cases, Kerala with six cases, Tamil Nadu with four cases, and Telangana with two cases.

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