Read Latest India Business News 20th June 2019:
- As per a report by Thomas Cook, there has been a 50-60% jump in travel loans in India over last year with an average of 20-25 transactions per month, especially from young travelers in the age group of 25–35 years.
- Coca-Cola has launched its sports beverage Powerade in India. The drink will compete with PepsiCo’s Gatorade. Powerade is also the official sports drink of ICC CWC 2019.
- Postman, a platform for managing and developing APIs, has completed its Series B round of funding worth $50 million led by Charles River Ventures.
- Renault is planning to stop making diesel cars in India from next year and looking to form a new partnership for EVs.
- Bisleri has hired Angelo George, ex-COO of Emami, as its first professional CEO.
- Rudratej Singh has joined BMW Group Indi as President and CEO. He resigned as global president Royal Enfield around six months back.
- The government is proposing to waive registration charges for electric vehicles.
- Myntra is setting up 30 experience centres across major cities. Customers will be able to receive and try products at these centres.
- HDFC has agreed to acquire a majority stake in Apollo Munich Health Insurance for Rs.1347 Crores.
- Maharashtra has identified a new site in Raigad district for the planned $44 billion oil refinery to be built by state-run firms with Saudi Aramco and Abu Dhabi National Oil Co. The refinery project is being seen as giving steady fuel supplies to India and meeting Saudi Arabia and ADNOC’s need to secure regular buyers for their oil.
Latest India Business News 20th June 2019
- Snapdeal’s talks to acquire ShopClues has hit a hurdle as significant pending liabilities were found during the due diligence process.
- Biryani By Kilo has raised Rs.30 crores in a series A round of funding led by IvyCap Ventures.
- HCL has bagged a multi-year contract to manage Cricket Australia’s digital properties.
- IL&FS – Deloitte Haskins and Sells, and BSR are reportedly being probed by six investigative and regulatory agencies in India for their role in alleged financial discrepancies. The agencies would also be probing the role of lender banks and their officials. ED has arrested two former directors of IL&FS also.
- Mumbai customs have seized around 500 parcels of Sino India Etail, the official seller of Chinese etailer Shein, found to be undervalued and wrongly declared.
Must Read: Famous yoga institutions in India