Read the latest India business news 17th December 2018:
– Mastercard has told RBI that it will soon start deleting data of all Indian cardholders from its global servers to meet its guidelines. It has, however, warned that it would also mean weakening of safety and security over a period of time.
– Nikos Kardassis, Jet Airways former CEO, currently in an advisory role with the airlines, has reportedly resigned. He was brought in to turn around the cash-strapped airlines in May this year. This was his third stint with Jet Airways.
– Tata Power is planning to invest approx. Rs.700 million to set up around 1,000 charging points for electric vehicles in the NCR. Presently the company has a total of only 21 charging points in Hyderabad, Delhi and Mumbai.
– SpiceJet has requested global airlines’ grouping IATA for its membership.
– Bistro Hospitality, the Indian partner of TGI Friday, is trying to raise funds by diluting its stake. Centrum Capital has been appointed as the investment banker. Bistro holds 75% in the JV.
– Drivezy is close to finalizing $60 million funding round. It has raised $128 million so far.
– Online Vendor’s body has requested the government to apply the guidelines issued by the High Court in Shopclues case on all the e-com marketplaces. High Court had directed Shopclues to disclose details of all sellers on its website, obtain a certificate from sellers on product genuineness as also enter into authenticity agreements with them.
– As per a report by IDC, India’s software market will reach $5.7 billion in 2018.
– Indian Railways has proposed to run around 800 trains from various stations of Allahabad to facilitate tourist footfalls during Allahabad Kumbh Mela 2019.
– Vodafone Idea has requested DoT not to hold spectrum auction till 2020. It says that fresh need for quality radiowaves will arise only once the 5G ecosystem is ready.
News credit: Livemint, Economic Times, Business Standard