Latest India Business News 17th June 2019 – Here’s the news making a buzz in the India business world today.
- Alteria Capital has made its single largest investment of Rs.80 crore in Lendingkart.
- Mobikwik is said to be looking for an investor who will help it go public in the next three years.
- ONGC will reportedly shortly auction more than 60 of its discovered small and marginal fields to private companies.
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- Anil Agarwal, Group Chairman of Vedanta said that the company has lost around $200 million in profits ever since its copper smelter plant in Tamil Nadu was shut more than a year back.
- The finance ministry is evaluating the capital needs of PSBs and may provide Rs.30,000 Crores in the upcoming budget to help them meet minimum regulatory capital requirements in the current fy.
- Swiss authorities are said to be in the process of sharing details of around 50 Indian nationals having accounts in various Switzerland based banks.
- GST Council is likely to extend the period of the National Anti-profiteering Authority till 30 November 2020. NAA deals with cases where GST is not passed on to the end consumer.
- The government is looking to introduce a fresh set of tax benefits for startups to boost employment and entrepreneurship.
- DoT has backed penalties of Rs.3050 Crores on Airtel and Vodafone Idea for allegedly denying Jio adequate points of interconnection in 2016.
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- IL&FS update- MCA is likely to move the court for freezing bank accounts of some of the former directors of the group.
- Amazon is said to be in early-stage talks with Ninjakart for investing in the fresh produce supply chain company.
- PNB is likely to sell 6 NPAs worth around Rs.1000 Crores including Vandana Vidyut and Visa Steel to Asset Reconstruction companies.
- Lupin Pharmaceuticals, an American subsidiary of Mumbai-based company, is said to have recalled over 18,000 bottles of Cefdinir for Oral Suspension, used to treat bacterial infections, from the US market. The recall is due to “complaint received of metal piece identified in the product bottle prior to the reconstitution”.