Latest India Business News Headlines 2nd August 2018

Read latest India business news headlines 2nd August 2018:

• The Government has allowed LIC to increase its shareholding in IDBI Bank to 51%. Now LIC will do the due diligence and then subscribe to new shares.

 

• GST collections in June were highest during the last three months. The amount received by the Government was Rs.96,483 Crores as against their target of Rs.1 Crore.

 

• RBI has raised questions about the cashback being given by Paytm to its customers and has also asked Paytm to stop enrolling any new customers till the time its concerns are resolved.

 

• Air India update – The Government has appointed Kumar Mangalam Birla and Y C Deveshwar on the board of Air India for 3 years. Deveshwar also headed Air India during 1991-94.

 

• Tata Group is planning to reduce the number of its listed companies by merging or divesting in its firms. The plan is to have only a limited key set of companies listed.

 

• Trai has started the spectrum auction process to push 5G technology.

 

• As per Counterpoint, the global research company, OnePlus has got a market share of 40%, followed by Samsung with 34% while Apple has got only 14% in India.

 

• WhatsApp is launching its first revenue-generating product in India for enterprises to interact directly with the customers. It will start the project with MakeMyTrip, Zendesk and 1mg.

 

• Retailers Association of India is planning to approach the commerce ministry for seeking clarifications on the draft e-comm policy as they found many issues and ambiguities in the policy.

 

• Apollo Tyres has appointed Sachin Tendulkar as its brand ambassador for five years.

 

• Supreme Court has asked Malvinder and Shivinder Singh to personally appear in the court for proceedings in the Daiichi Sankyo case to enforce arbitration award of Rs.3500 Crores.

 

• The Government has allowed LIC to increase its shareholding in IDBI Bank to 51%. Now LIC will do the due diligence and then subscribe to new shares.

 

• GST collections in June were highest during the last three months. The amount received by the Government was Rs.96,483 Crores as against their target of Rs.1 Crore.

 

• RBI has raised questions about the cashback being given by Paytm to its customers and has also asked Paytm to stop enrolling any new customers till the time its concerns are resolved.

 

• Air India update – The Government has appointed Kumar Mangalam Birla and Y C Deveshwar on the board of Air India for 3 years. Deveshwar also headed Air India during 1991-94.

 

• Tata Group is planning to reduce the number of its listed companies by merging or divesting its firms. The plan is to have only a limited key set of companies listed.

 

• Trai has started the spectrum auction process to push 5G technology.

 

• As per Counterpoint, the global research company, OnePlus has got a market share of 40%, followed by Samsung with 34% while Apple has got only 14% in India.

 

• WhatsApp is launching its first revenue-generating product in India for enterprises to directly interact with the customers. It will start the project with MakeMyTrip, Zendesk and 1mg.

 

• Retailers Association of India is planning to approach the commerce ministry for seeking clarifications on the draft e-comm policy as they found many issues and ambiguities in the policy.

 

• Apollo Tyres has appointed Sachin Tendulkar as its brand ambassador for five years.

 

• Supreme Court has asked Malvinder and Shivinder Singh to personally appear in the court for proceedings in the Daiichi Sankyo case to enforce arbitration award of Rs.3500 Crores.

 

• NCLAT has told the three final bidders for Bhushan Power to submit their revised plans by Monday. It has also directed Bhushan Power and Steel Committee of Creditors to take a decision over the revised bids and keep it in a sealed cover.

 

• HCL Technologies may hire around 5,000 people this year as part of its ‘New Vistas’ programme, under which it is setting up centres in smaller cities like Lucknow and Madurai.

 

• Mumbai based Piramal Capital and Housing Finance has recently financed three projects adding up to approx. ₹1,500 crore in Delhi NCR.

 

• Jet Airways pilots union has asked its members not to accept the salary cut of up to 25% as declared by Jet Airways. Jet Airways has over 2,000 pilots in its rolls and about 80% of them are affiliated with the union.

 

• RBI has barred Fino Payments Bank, one of India’s first payments banks, from adding new customers since the end of May as it found about Fino Payments non-compliant with the operational guidelines laid down by it during auditing.

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