Current Affairs - Business

Swiggy partnered with the Ministry of Labour & Employment through a Memorandum of Understanding (MoU) aimed at boosting employment in the gig and logistics sectors. The initiative is expected to generate over 12 lakh job opportunities in the next 2–3 years via the National Career Service (NCS) portal. This collaboration leverages Swiggy’s reach in the gig economy and the NCS platform's ability to connect job seekers and employers. Through real-time job postings and seamless tracking, the partnership focuses on inclusive hiring practices and supports digital empowerment, particularly for youth, women, and individuals seeking flexible employment across urban and semi-urban areas.

Gensol Engineering Ltd came under regulatory scrutiny in 2024 after SEBI received a complaint alleging share price manipulation and fund diversion. Upon investigation, SEBI found prima facie evidence of serious misconduct, including treating company funds as personal assets by the promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. The company was barred from accessing the securities market, and its promoters were also restricted from holding key positions within GEL. Violations included misleading disclosures, submission of forged documents, and breaches of PFUTP regulations. This action by SEBI reinforces the importance of ethical governance and investor protection in India’s corporate landscape.

Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, entered into a power purchase agreement with NTPC Ltd for the development of a 200 MW renewable energy project. This partnership significantly boosts TPREL's total renewable utility capacity to 10.9 GW. The project is expected to generate approximately 1,300 million units of electricity annually and is planned to be implemented across various locations in India over the next 24 months. The collaboration represents a strong step toward India's clean energy goals and reflects Tata Power’s commitment to expanding its green energy footprint.

Razorpay partnered with NPCI BHIM Services Ltd and Axis Bank to introduce the Turbo UPI plugin on the BHIM Vega platform. This innovative solution is designed to streamline the in-app payment experience by allowing users to complete UPI transactions without leaving the application. By eliminating the need to switch to external UPI apps, the plugin significantly improves the user experience, enhances transaction success rates, and reduces friction during the payment process. Additionally, it offers seamless onboarding for partner businesses, making it a strategic move in advancing India's digital payment infrastructure and fostering greater adoption of UPI-based services.

Juspay, a Bengaluru-based fintech company specializing in payments infrastructure, became India’s first unicorn of 2025 after raising $60 million in a Series D funding round. The investment was led by Kedaara Capital, with additional participation from SoftBank and Accel. Despite falling short of its initial fundraising target of $150 million, Juspay’s valuation crossed the $1 billion mark. This milestone highlights the company’s growing influence in the fintech ecosystem and its strategic plans to invest in AI-driven solutions and expand globally. Juspay’s achievement also signals continued investor confidence in India's digital payments space.