Here are the India Business News Headlines 18th October 2017:
- India has rejected fresh efforts by a clutch of countries led by the European Union, Canada, Japan and Australia to negotiate new global e-commerce rules. India fears that new rules could provide unfair market access to foreign companies thereby hurting domestic e-commerce platforms.
- Capital Small Finance Bank, a Punjab-based small finance bank has raised Rs24.35 crore from Sidbi and existing investors.The latest round of funding has valued bank at Rs465 crore.
- Airtel has plans to phase out its 3G service in two years. It may upgrade all subscribers to 4G networks over the next few months.
- BankBazaar has raised $30 million from Experian Plc, a UK-based credit rating agency. BankBazaar helps consumers compare offers across various banks and non-banking financial companies (NBFCs) for various financial products. BankBazaar has till now received funding of $110 million.
- Government has initiated discussions to frame policy to facilitate access to quality medicines online. This proposal has been opposed by chemists on the grounds that online sales are illegal and easy availability of drugs can lead to their misuse.
- Tea producer Goodricke Group has acquired eight tea brands of Godfrey Phillips India for Rs20 crore. The deal will give Goodricke rights to the trademarks, titles and brands associated with the tea business of Godfrey Phillips.
- Rajesh Prasad, Ex-RuPay head, has joined Innoviti as chief business officer for APAC operations.
- Textile major Arvind Limited has signed an MoU with Gujarat government to set up a mega apparel park in Dahegam of Ahmedabad District with an investment of Rs300 crore.
*News as published in Business Standard, Live Mint and Economic Times.