Latest India Business News 13th September 2019 – Tentaran
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Read Latest India Business News 13th September 2019:
- Realme is planning to turn into a lifestyle products company by increasing focus on accessories and increasing its market share through offline. Realme is India’s fourth-largest smartphone brand.
- Altico Capital India, a lender to real estate companies, is said to have defaulted on interest payments worth Rs.19.9 crores to Mashreq Bank of Dubai. The default highlights rising stress in the cash-starved property market of India.
- Hiranandani Group is planning to invest approx. Rs.2,000 crores in “GreenBase”, its warehousing vertical, over the next year.
- Pepsico has signed Hima Das as its brand ambassador for Gatorade, its sports drink brand.
- GST Council is set to discuss a proposal to exempt small businesses with an annual turnover of less than ₹2 crore from filing annual returns.
- Officials of Swiggy and Zomato shall meet NRAI executives today to find out a solution to the on-going tussle on deep discounting.
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Latest India Business News 13th September 2019
- Supreme Court has warned homebuyers of Amrapali Group that their unwillingness to pay the outstanding dues may lead to winding up of the stalled projects due to financial crunch.
- Arohan Financial Services, the microfinance firm, is looking to raise $200 million. The firm is said to already close to raising $18 million from its existing investors.
- Empee Distilleries’ promoters are working on a resolution plan to take back the firm. NCLT had admitted insolvency proceedings against the firm in November 2018 on a plea filed by Union Bank of India.
- RBI has increased the loan exposure limit of banks to a single NBFC from 15 to 20% of its capital base. The move is expected to help credit supply to the banking sector.
- Nick Clegg, Facebook’s VP of global affairs and communications, yesterday met Ravi Shankar Prasad, the IT Minister to discuss issues related to data flows, privacy and data sharing between the governments.
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Latest India Business News 13th September 2019
- BVR Subbu, the ex-president of Hyundai India, has been appointed as the Chairman of the board of Ampere Vehicles, the electric mobility arm of Greaves Cotton.
- Xiaomi has alleged that around the time of its launch, over 900 fake accounts on Twitter tried to discredit its Redmi K20 model by calling it overpriced to hurt sales.
- SBI has launched a two-day OFS to sell a 4.5% stake in SBI Life Insurance Co. Ltd.
- LOT Polish Airlines has started a direct flight from New Delhi to Warsaw. The airline had discontinued its regular flight via Tashkent between the two capitals in 1994.
- ‘Ola Bike’ is said to have expanded to 150 cities in India.
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