Ola Cabs has witnessed a significant leadership change with the resignation of its CEO, Hemant Bakshi, just four months after his appointment. The company is also reportedly considering a restructuring that may result in layoffs affecting up to 10% of its workforce.
The dominance of the ‘Big 6’ audit firms in India’s corporate landscape continues to grow, with these firms handling the audits of two-thirds of the Nifty 500 companies in FY24, up from 61% in the previous year.
In a political development, the JD(S) party has suspended Prajwal Revanna, a Lok Sabha candidate and nephew of party leader H D Kumaraswamy, over allegations of sexual abuse.
Nestle India has defended its infant cereal brand, Cerelac, stating that it complies with local food regulations and contains less added sugar than permitted by Indian food safety standards.
International diplomacy is focused on a possible deal between Hamas and Israel to end the ongoing conflict in Gaza, with US Secretary of State Antony Blinken expressing optimism about Hamas accepting a generous offer in exchange for releasing hostages.
India’s digital payment ecosystem has experienced significant growth, with UPI transactions reaching approximately 131 billion in FY24, representing a substantial increase from FY23.
The Supreme Court of India has intervened in a teacher recruitment scam probe, staying a Calcutta High Court order directing the CBI to investigate the involvement of West Bengal government officials.
