Latest India Business News 22nd July 2019 – Tentaran

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Read Latest India Business News 22nd July 2019:

  • ByteDance, the parent company of TikTok, has said that it is establishing a data centre in India to store Indian users’ data.
  • Piramal Enterprises has raised Rs.1,500 crores from Standard Chartered Bank through NCDs to meet the working capital requirements of the group.

latest india business news 22nd july

  • Investcorp has closed its India-focused PE fund at Rs.1,000 crores. This is a top-up of IDFC Alternatives’ fourth PE fund, which raised approx. $70 million before its acquisition by Investcorp.
  • SmartE has raised Rs.100 crores in a Series B round of funding from Mitsui and Co. SmartE operates a fleet of over 1,000 electric rickshaws in Delhi NCR.
  • The GST Council shall be meeting on the 25th of July to decide on lowering tax rates for EVs and other items. The meeting will be chaired by FM Nirmala Sitharaman.
  • Vodafone Idea has been asked to compensate Rs 8.5 lakhs to a bank fraud victim for not following ‘reasonable security’ practices for duplicate SIM card issuance.

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Latest India Business News 22nd July 2019

  • MobiKwik is aiming to facilitate transactions worth Rs.500 crore in the next 12-15 months.
  • LIC has agreed to offer Rs 1.2 lakh crores in the line of credit by 2024 for highway projects funding.
  • IndiGo shall be inducting 10 members on its board of Directors including 4 independent directors.
  • GoAir will launch international flights to Bhutan, Cambodia, and Vietnam by the end of this year. The airline launched international flights to Abu Dhabi, Bangkok, Kuwait, and Muscat recently.

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Latest India Business News 22nd July 2019

  • Aditya Birla Idea Payments Bank has announced to close its operations due to the economic model not being unviable.
  • RP of Jet Airways has called EoIs to sell assets of the airline by August 3.
  • USFDA has reportedly found different dietary and medicinal claims on Patanjali’s sharbat bottles earmarked for sale in India and the USA. If the company is found to be selling a misbranded product in the US, the USFDA can issue a warning letter to stop that product’s import altogether

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