Latest India Business News 30th May 2019 – Tentaran

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Latest India Business News 30th May 2019
  • GAIL India has again approached NCLT to admit its Rs.390 crore claim from Videocon Industries. The resolution professional had rejected the claim earlier.
  • IFC has led a $222 million debt investment round in Cholamandalam Investment and Finance. This is IFC’s third investment in Cholamandalam after investing in 2010 and 2014.
  • Air India has sought approval from the government to borrow Rs.2,400 crores from the National Small Savings Fund to meet its working capital requirements.
Latest India Business News 30th May 2019
  • Bids submitted by Amul and Nandini to operate Delhi Milk Scheme on long-term lease basis are lower than the reserve price. The government is now exploring other options to revive the loss-making firm.
  • Flipkart has launched ‘Adrenex’ its in-house sports and fitness private label brand.
  • SpiceJet is reported to be planning to increase its capacity by 80 per cent during the current fiscal year.
  • DPIIT is setting up a task force to boost exports through e-commerce. It is looking to remove bottlenecks on payments, tax, and other areas of concern.
  • RBI has said that the banks can use Aadhaar for KYC verification with customers’ consent.
  • Amazon is reportedly bringing in a new Alexa Privacy Hub which will allow users to delete their records on all alexa-enabled devices through voice command. Users have to go to the app to delete recordings one by one.
  • MTR foods has set up a Rs.50 Crore fund to invest in startups engaged in food processing.
  • Awfis is in advanced talks to close a $25 Million funding round led by ChrysCapital.
  • IDBI Bank has reportedly started the process of selling its mutual fund business and has appointed ICICI Securities to advise on this.
  • Royal Dutch Shell, the Global energy major and Statkraft have been shortlisted for the next round to buy Morgan Stanley Infrastructure Partners-owned wind energy platform Continuum Wind Energy.

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  • IATA Director General Alexandre de Juniac has said that Boeing 737 MAX is unlikely to return to service before August. However, the final say on the timing rested with regulators.
  • Power Finance Corp. is increasing its borrowings from the international market in 2019-20 to tide over a liquidity crunch in the country. PFC had a fund-raising target of Rs.80,000 crores for fy 19-20, out of which it will raise 10% in foreign current borrowings.
  • IL&FS update – NCLAT has asked IL&FS group companies, upgraded to ‘green’ category, to start paying their debts as per the payment schedule.

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