Current Affairs - Business

Tally Solutions has collaborated with DPIIT to mentor manufacturing startups by providing workshop-based training on financial management, compliance, marketing, and digitization. As part of this initiative, startups will benefit from free Tally Prime licenses, expert-led sessions, and networking opportunities, enabling them to streamline their operations and foster sustainable growth.

Max Life Insurance has rebranded to Axis Max Life Insurance following regulatory and corporate approvals. As part of the rebranding, Axis Bank increased its stake in Max Life to 19.99%, while Max Financial Services Ltd's stake was reduced from 87% to 81%. The rebranding also includes a new logo that incorporates Axis Bank's 'A' and a burgundy shade, symbolizing the strengthened partnership between the two entities. This move reflects the growing collaboration and alignment between Axis Bank and Max Life Insurance.

BMW has partnered with UNICEF to enhance STEM education in rural India. This collaboration aims to improve foundational learning and STEM skills for 100,000 children in regions such as Assam, Jharkhand, Tamil Nadu, and West Bengal. The initiative focuses on marginalized adolescent girls in Kasturba Gandhi Balika Vidyalayas and Tribal Ashramshalas, promoting gender equality and aligning with India’s national education and gender goals for inclusive growth. This partnership highlights BMW's commitment to supporting education and gender equality in India.

Coca-Cola sold a 40% stake in its India bottling business, Hindustan Coca-Cola Holdings (HCCH), to Jubilant Bhartia Group for ₹12,500 crore, valuing the company at ₹31,250 crore. This sale aligns with Coca-Cola's asset-light refranchising strategy and will help strengthen its presence in India, its fifth-largest market. The transaction also marks a significant step for Jubilant Bhartia Group to expand its portfolio in the beverage sector, leveraging its expertise from businesses like Domino’s and Dunkin’ to boost growth in the bottling sector.

Reliance Industries is in talks with multiple banks to secure a $3 billion offshore loan, which marks the largest Indian deal. This loan is part of the company's efforts to refinance $2.9 billion of debt due next year, including interest. The loan is set to be syndicated in Q1 2025. Despite challenges such as rupee depreciation and ongoing outflows from Indian equities, the deal demonstrates strong investor interest in Reliance Industries and its financial strength following the $8 billion it raised in 2023.