In 2021, the government announced a comprehensive programme for developing the semiconductors and display manufacturing ecosystem in India with a budget of over Rs 76,000 crore. 

With the said budget, India Semiconductor Mission (ISM), recently announced by the Ministry of Electronics and IT (MeitY), the government is trying to establish itself in the $553 billion global semiconductor market. 

Infosys is pulling out of Russia and ceasing its operations in the country, the company’s chief executive officer Salil Parekh said today during the company’s earnings results for the three months, and year ended March 2022.

“We have started to transition all of our work from our centres in Russia to our centres outside Russia. We have less than 100 employees in Russia,” said Parekh during the investor call.

Tata Realty and Infrastructure, and Canada Pension Plan Investment Board (CPPIB), have entered into a joint venture (JV) to develop and own commercial office space across India. The aggregate equity value of the deal is Rs 5,300 crore (C$8661 million). CPPIB’s equity commitment will be at Rs 2,600 crore. The JV will target stabilised and development assets, aiming to reach over Rs 5,000 crore (C$800 million) in assets under management.

The partnership will be seeded with two assets with a gross asset value of Rs 8,000 crore (C$1.3 billion) alongside an intention to further allocate capital investment of up to Rs 2,000 crore (C$333 million) for future acquisitions. The two assets include Intellion Park Chennai with 4.6 million sq ft of space and Intellion Edge Gurgaon in National Capital Region with 1.8 million sq ft. Both the properties are currently owned and managed by Tata Realty and Infrastructure. The two companies will also pursue Grade A commercial developments in key cities of Mumbai, Delhi, Pune, Bengaluru, Hyderabad, and Chennai.

Godrej Industries on Monday announced the launch of its financial services subsidiary Godrej Capital, which will be the holding company for mortgage lender Godrej Housing Finance and non-banking finance company (NBFC) Godrej Finance. Godrej Capital intends to grow its balance sheet to Rs 30,000 crore in 2026 from Rs 1,800 crore at present.

The Godrej Group, which has interests in consumer goods, agri, real estate and retail, is the newest conglomerate to enter the financial services space. While Godrej Housing Finance was launched in November 2020, the group is only now going for an NBFC launch using a licence it has held since 1998.

Last month was the deadline for linking PAN and Aadhaar, and individuals who did not complete the task will face consequences. The Central Board of Direct Taxes, or CBDT, has stated in its newest circular that this does not mean your PAN will be made inactive. Those who have not linked their Aadhaar to their PAN can do so by paying a fine of up to Rs 1,000 until next year, according to the board, which sets income tax laws.

The CBDT has extended the deadline for linking PAN and Aadhaar to March 31, 2023, but those who have yet to do so will be fined. By June 30, 2022, a penalty of Rs 500 must be paid "in the instance where such intimation is made within three months from the date referred to in sub-section." A fine of Rs 1,000 is also required to link Aadhaar and PAN.