Byju’s has decided to lay off around 4,000 employees or over 11 per cent of its total workforce over the next few weeks as part of a restructuring exercise as the struggling edtech giant faces a severe funding crunch, battles lenders and has faced a markdown in its valuation, according to the sources. The Bengaluru-based firm has a total of about 35,000 employees.

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources.

The Rajasthan Chief Minister has pledged to secure a larger victory for the Congress party in the upcoming state assembly elections in Rajasthan, as compared to Madhya Pradesh and Chhattisgarh. This commitment came a day after Congress leader Rahul Gandhi suggested that the contest in Rajasthan would be "very close" in the forthcoming polls.

The chief minister noted that Rahul Gandhi had set a challenge, one that Rajasthan is prepared to meet.

The Pakistan Cricket Board (PCB) has issued a statement expressing gratitude to the Indian government for issuing last-minute visas to its players, enabling them to participate in the 2023 International Cricket Council (ICC) Cricket World Cup.

According to the statement released via PCB's official page on X (formerly Twitter), the board was the last to apply for visas on September 19 and had submitted all requisite travel documents.

The Telangana unit of the Bhartiya Janata Party (BJP) is having a tough time with senior leaders deserting the party and declaring that they would do anything to defeat Telangana Chief Minister K Chandrashekhar Rao (KCR), even if it means joining the Congress, Deccan Chronicle (DC) has reported.

Former MP Komatireddy Rajgopal Reddy was quoted in the report as saying, "We are frustrated at the lack of leadership, at the complete absence of purpose, which is to defeat KCR.

The Enforcement Directorate on Tuesday told the Supreme Court that the probe agency will not summon BRS leader K Kavitha in the Delhi excise policy case till the court hears her plea on November 20.

A bench of Justices Sanjay Kishan Kaul and Sudhanshu Dhulia told Additional Solicitor General SV Raju, appearing for the Enforcement Directorate, "Don't call her in the meantime."

The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms.

A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.

Reserve Bank of India (RBI) Governor Shaktikanta Das has emphasised the need to avoid the excessive dominance of one or two directors in the functioning of bank boards. He has urged directors to engage in open and frank discussions, and to be proactive in questioning bank operations.

Addressing directors of urban cooperative banks (UCBs), Das noted that the RBI had observed such undue influence even in major commercial banks.

Prime Minister Narendra Modi on Sunday flagged off nine Vande Bharat trains, connecting 11 states. The total number of Vande Bharat trains has now risen to 34. Nine more orange-coloured Vande Bharat Express trains are expected to be rolled out.

While inaugurating the nine Vande Bharat trains, PM Modi said that the new trains will significantly improve connectivity as well as boost tourism across India. He added that the speed and scale of infrastructure development in the country now matches the aspirations of 1400 million Indians.

The National Stock Exchange (NSE) is planning to introduce extended trading hours for equity derivatives such as futures and options (F&O), The Economic Times (ET) reported on Monday.

The NSE is contemplating extending the evening trading session from 6:00 to 21:00. Market participants can participate in trading futures and options after regular trading hours of 9:15 to 15:30. A source was quoted as saying that NSE could extend this session further up to 23:30.

Kolkata-based Shree Cement Ltd on Monday announced that it will raise up to Rs 700 crore via non-convertible debentures (NCD) on a private placement basis. In an exchange filing, it said the base issue size will be Rs 350 crore with an option to retain oversubscription up to another Rs 350 crore.

"In continuation to our letter dated 19th September 2023 and pursuant to Regulation 30(2) of the Sebi (Listing Obligations and Disclosure Requirements), Regulations, 2015 read with Para A of Part A of Schedule III of the Regulations.

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