Latest India Business News Headlines 21st January 2019

Read Latest India Business News headlines 18th January 2019:

 

  • Kae Capital is raising Rs.100 crore add-on fund for investing more funds into portfolio companies of its first fund of $25 million raised in 2012. Its second fund of $53 million, raised in 2017, has also exhausted around 70% of the funds.

 

  • The government has invited bids for Air India’s iconic building at Nariman Point in Mumbai from state governments and government entities for sale of leasehold rights of the land and the building. The government has been trying to sell its stake in Air India for some time now.

 

  • Mukesh Ambani has urged PM Narendra Modi to take steps to end increasing data colonisation by global corporations and that the Indians should own and control their own data.

 

India business news headlines 21st January 2019

 

  • Wipro has carved out a separate segment for catering to the business from the government and PSUs. The decision-making is slow in the government business and takes much more time to recover money in comparison to the private sector.

 

  • E-comm companies have started offering huge discounts to clear as much stock as possible before the new rules of FDI policy take effect on Feb.1. Discounts offered are said to be at par or higher by 3-5% than offered during Diwali Sale.

 

  • Samsung has informed the government that it will stop making its flagship models in India unless it delays a Make in India plan for components.

 

  • As of now, there seems to be no clarity on Jet Airways funding. Naresh Goyal does not want to give away the control while Etihad wants to oust him from controlling the airlines.

 

  • Flipkart has promoted Rishi Vasudev, its fashion deptt. head to take on the additional responsibility of Myntra and Jabong.

 

  • ShareChat has banned around 50,000 profiles as part of its effort to keep the platform clean from fake, violent and pornographic content.

 

  • Laksh Vaaman Sehgal and Abhimanyu Munjal have collectively invested Rs.100 Crores in AdvantEdge’s second fund.

 

  • CBDT has asked Tax Appellate Tribunal and High Courts to expedite the withdrawal of appeals cases.

 

  • GSTN is working on a software to ensure that if a company has not filed its GST return for six months, it would be barred from generating e-way bills.

 

  • Sebi has denied permission for Rs.9000 Crore share buyback of L&T.

 

  • PNB fraud case – Two Executive directors of PNB have been sacked by the government for not exercising proper control of operations. Both of them were due to retire in just a few months.

 

  • As per CII, the Kumbh Mela is expected to generate a revenue of Rs.1.2 Lakh Crore for Uttar Pradesh.

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