India business news headlines 8th February 2019
- RIL has announced plans to invest around Rs.10,000 crores in West Bengal. It has set up direct distribution channels, Jio Points, to cater to the growing rural market.
- Avendus Capital has launched a $1-billion fund to invest solely in environment, social, and governance values focussed companies. 30% of the fund will be raised from domestic investors.
- As per a report from EY, PE/VC deals fell 49% from the year ago to $1.8 billion in Jan.2019.
- Jet Airways has raised Rs.250 crores from advance ticket sales to Jet Privilege customers. The airlines had raised around Rs.258 crores from advance sale of tickets to Jet Privilege in Oct.2018 also.
- Fortis Healthcare has appointed renowned cardiac surgeon Dr.Ashutosh Raghuvanshi as CEO.
- As per the company, WhatsApp has been removing 2 million suspicious accounts every month to prevent fake news.
- To ensure consumer grievances are addressed, the RBI is planning to come out with a discussion paper on regularising payment gateways.
- RBI has eased bank loan norms for NBFCs with top ratings.
- ITC Wills Lifestyle has been renamed WLS. The firm is making a shift to 100 natural and biodegradable materials.
More India business news headlines 8th February 2019
- Reliance Jio has backed govt over tracing the origin of messages to contain the spread of fake news even if it means breaking encryption. Other players are citing privacy issues.
- Tata Motors has reported its biggest ever quarterly loss of Rs.26,960.8 Crores for the quarter ending Dec.31, 2018. This includes a one-time asset impairment in JLR.
- Livspace has appointed Kartikeya Bhandari, formerly senior marketing director of Flipkart, as its first-ever CMO. Livspace had raised $70 million in a Series C round of funding in 2018.
- Ruchi soya case – NCLT has dismissed the petition of Standard Chartered Bank to reclassify it as a financial creditor to Ruchi Soya Industries stating it is too late to seek such a change. Ruchi Soya owes more than ₹10,000 crore to banks and financial institutions.
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*news source: Livemint, TOI, ET