Amazon infuses Rs650 cr in Indian wholesale unit

New Delhi: E-commerce giant Amazon has infused Rs 650 crore into one of its India units, Amazon Wholesale (India). Amazon Corporate Holdings Pvt Ltd and Amazon.com.inc have made the Rs 650-crore investment in the wholesale B2B arm of Amazon India, documents filed with the Corporate Affairs Ministry said. PTI

New Delhi

Net direct tax revenue up 68% to Rs6.92 lakh cr

The net direct tax collection grew nearly 68% during April 1 to November 23 to more than Rs 6.92 lakh crore, Minister of State for Finance Pankaj Chaudhary said on Monday. The net collection between April 1 and November 23 in 2020-21 was over Rs 4.12 lakh crore. PTI

New Delhi

RBI imposes Rs1 crore penalty on Union Bank

The RBI has imposed a penalty of Rs 1 crore on Union Bank of India for deficiencies in regulatory compliance. The penalty was imposed for non-compliance with the directions in the “RBI (Fraud – Classification and Reporting by commercial banks and select FIs) 2016” and “Guidelines on Sale of Stressed Assets by Banks”. TNS

Mumbai

Ather Energy plans to set up its 2nd facility in TN

Hero MotoCorp-backed electric two-wheeler maker Ather Energy on Monday said its plans to set up its second manufacturing facility, which once commissioned in 2022, will expand its capacity to 4-lakh vehicles per year from 1.20 lakh units at present. The new facility will come up at Hosur in Tamil Nadu. PTI