Here are the India Business News Headlines 25th September 2017:
- As a cost cutting measure, Air India is planning to vacate unused hangar space at some airports, specially at Delhi and Mumbai. They will sell the scrap lying there and vacate the place.
- DishTV has done away with the HD charge and unveiled its new generation HD STB, ‘DishNXT HD’ which will eliminate the SD- HD divide. DishTV is the first company to do away with this charge.
- Rajiv Sabharwal will be the new CEO of Tata Capital and head Tata group’s retail financial services. Rajiv currently a partner with PE firm True North Managers, was ED on ICICI Bank’s board till January 2017 and has over 26 years’ experience in the financial sector.
- PremjiInvest has invested about Rs225 crore for 45% stake in Shubham Finance which provides housing credit to people employed in the informal sector and has a loan portfolio of nearly Rs1,200 crore.
- Air India has requested DGCA to take a ‘lenient view’ on more than 132 pilots and 434 cabin crew who have come under the scanner for skipping the compulsory pre-and post-flight alcohol breath analyser tests this year. If found guilty, they face the prospect of being grounded.
- Synup has raised $6 million in a Series A round led by Vertex Ventures. Synup is a software provider that helps companies manage their online presence and reach and focuses mainly on small and medium companies in the US.
- Flipkart and Amazon have claimed huge boost from festive season sales. Flipkart claims it accounted for at least 70% of total e-commerce sales in India during Big Billion Days while as per Amazon, their Great Indian Festival 2017 was the firm’s biggest shopping event ever.
- New rule on limit on layers of subsidiaries that companies can have by the ministry of corporate affairs may limit operational flexibility of firms. The firms also have to disclose all existing subsidiaries.
- To strengthen its customer service unit for local language buyers, Amazon has entered into a joint venture with Patni Group. The JV will act as a seller on Amazon Indian platform.
- Shell companies crackdown : Ministry of Corporate Affairs has disqualified another 2 Lac Directors for holding posts in the shell companies. The total number of disqualified Directors has reached to 300,000 now.
*News as published in Business Standard, Live Mint and Economic Times.