Latest India Business News 9th January 2020 – Tentaran

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Read Latest India Business News 9th January 2020:

  • CCI has asked e-comm platforms to be more open about how products and services rank to customer searches and to ensure that the user reviews are genuine. CCI has also asked them to have transparent policies on the data collected.
  • Vijay Shekhar Sharma, the founder of Paytm, has said that he was not interested in buying a stake in Yes Bank and has not held any talks with Rana Kapoor of Yes Bank.

latest india business news 9th january 2020

  • To reduce operating costs, Nexa is working on to shift its store locations and reduce manpower.
  • To ensure passenger safety due to tension in the Middle East, DGCA has asked Indian airlines to reroute flights to avoid flying over Iranian and Iraqi airspace.
  • Vasanth Kumar, current MD of Lifestyle International-India has resigned and will be transitioning from June 30, 2020. The firm operates retail brands like Lifestyle, Max, and Home Centre.
  • NCLT has warned Jet Airways CoC of contempt proceedings if they do not release interim funds to the resolution professional for completion of insolvency proceedings by January 20.

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Latest India Business News 9th January 2020

  • Supreme Court has stayed an October 2019 order of Bombay HC quashing LRs sent by Directorate of Revenue Intelligence to several countries in connection with a case of alleged overvaluation of Indonesian coal imports between 2011 and 2015 involving some Adani Group companies.
  • LT Foods is planning to move beyond selling packaged rice and launch more branded foods and snacks like savoury snacks, sauces, rice meals, and cookies.
  • Maruti Suzuki India has reported a 7.88% increase in production in Dec. 2019 at 1,15,949 units for the second successive month of hike after reducing it for straight nine months due to demand slump.
  • L&T Infrastructure Finance has signed an agreement to give term loan of Rs.518 crores to the Indian subsidiary of Singapore-based AG&P Group for developing city gas distribution networks in Rajashtan and Tamil Nadu.
  • The Union Cabinet has approved a proposal to divest equity shares of four PSUs – MMTC, NMDC, BHEL and MECON – in Neelachal Ispat Ltd.
  • IBM has announced the appointment of Sandip Patel as MD of its India and South Asia operations. He will be succeeding Karan Bajwa.
  • NCLAT has given one more chance to UK-based Liberty House group for offering a resolution plan for bankrupt Adhunik Metaliks and Zion Steel by 14th Jan.
  • DGCA has issued notices to GoAir for overworking more than 150 pilots, violating a mandatory flight duty time limitation.
  • Bounce, an app-based two-wheeler rental startup, has raised Rs.692.39 crores at a valuation of $450 million in a Series D round of funding led by Facebook co-founder Eduardo Saverin’s VC fund B Capital.
  • Paytm has launched a unified QR code for merchants to enable unlimited payments through Paytm Wallet, Rupay Cards and all UPI-based payment apps directly into their bank account at zero percent fee.

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Latest India Business News 9th January 2020

  • Testbook, an Edtech startup, has raised Rs.60 crores in a Series B round of funding from Iron Pillar, a venture growth investor.
  • Jay Krishna, former T-Hub CEO and Srikanth Chintalapati and Kevin Jacobs have launched a $60 million early-stage VC fund which will invest in deep tech startups.
  • VFS Global has launched a Mobile Biometrics service for Indians applying for an Italian visa. VFS staff with visit customers to collect biometric data and visa applications.
  • Jio has launched voice and video calling over wi-fi. The service will allow customers to switch from LTE to wi-fi based calling when they are at home or office.
  • The government has imposed restrictions on the import of refined palm oil. Now importers will require licence or permission for inbound shipments.

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