India Business News Headlines – 1st September 2017 –

Here are the India Business News Headlines as on 1st September 2017:

  • IT firms hit H1B hurdle as US acts tough on visas for entry-level workers. H1B visa applications by entry-level workers face “innumerable” requests for further evidence that they will be taking up complex jobs at higher salaries in the US.
  • Mfine, a new on-demand doctor consultation start-up by two former Myntra executives, has raised $1.5 million from venture capital firm Stellaris Venture Partners. Mfine will keep a cut of the consultations on its platform and has signed up other revenue-sharing arrangements with hospitals.
  • While working towards privatisation of the airlines, Air India has put on hold post-retirement engagement of employees and renewal of employee contracts. Air India has not been able to recruit management staff for a long time; to keep things moving, it usually engaged people who were retiring from the same departments as consultants.
  • The Supreme Court has refused to give the Singh brothers permission to sell Fortis shares. It also refused permission to banks with whom the Singhs have pledged Fortis shares to do the same till the final disposal of the case on 31 October. The court’s order was in response to a plea by Daiichi Sankyo Ltd.
  • PAN-Aadhaar linking last date extended till 31 December.
  • Central Government is exploring ways to make it mandatory for all Government Departments to accept digital payments at points of consumer interface. It’s also considering incentives for citizens opting for digital payments.
  • To get more visitors to India, Tourism Ministry is planning to open Government run offices in US, UK, Russia and other key markets. It will also run market specific digital and other electronic media campaigns.

*News as published in Business Standard, Live Mint and Economic Times.

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