Latest India Business News 3rd December 2018

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Read the latest India business news 3rd December 2018:

india business news 3rd december 2018

– WhatsApp has asked for RBI’s permission to offer its payment services to all its 200 million Indian users. It has tested the service with around 1 million users.

– Bank of Maharashtra has appointed A.S. Rajeev as CEO. Rajeev was ED of Indian Bank.

– China has not accepted India’s proposal to carry out bilateral trade in local currencies. The proposal was aimed at bridging the increasing trade deficit.

– Jet Airways had to cancel around 14 flights on Sunday after some of its pilots reported “sick” due to non-payment of their salaries. Due to a cash crunch, Jet Airways has been defaulting on salary disbursement to its senior management, pilots and engineers since August 2018.

– I-T dept is probing Axis Bank staff for allegedly facilitating benami deals of over Rs 520 million for some Zaveri Bazaar jewelers.

Must Read: India startup World News monthly roundup for November 2018

– HDFC has pulled out its recently upgraded app from Google Play store after various complaints of malfunction.

– SBI has put up for sale three of its NPA loan accounts to recover dues of Rs 2,110.71 crore. An e-auction will be held on December 13 for sale of accounts of Sona Alloys, Jayaswal Neco Industries and MCL Global Steel.

– Reportedly, Go-Ventures is finalizing a $30 million financing round in Mobile Premier League, a domestic mobile gaming company. Go-Ventures is the investment arm of Go-Jek, one of the most valuable startups of Indonesia.

– UrbanClap has raised $50 million in a Series D round of funding led by Steadview Capital and its existing investor Vy Capital. The firm has so far raised around $60.7 million.

– Swiss Government has agreed to share details with the Indian Government about 2 Indian companies viz Aadhi Enterprises Pvt Ltd and Geodesic Ltd. as also for 3 individuals – Pankajkumar Onkar Srivastava, Kiran Kulkarni and Sharad Mulekar associated with Geodesic. All of these are facing multiple probes in India.

– As per Sebi directive, from December 5, the sale of shares of listed companies will be possible only in the demat form.

– Mahindra Logistics is actively looking for acquisitions in logistics technology space.

– IL&FS update – 2 of 7 Indian employees held hostage in Ethiopia by locals have been rescued, which are now in Addis Ababa.

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News credit: Livemint, Economic Times, Business Standard

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