SBI cuts lending rate, Rupee hits a 3-year high, CDB withdraws insolvency proceedings against RCom- Weekly Digest #59

Monday- 1st January 2018 China's e-commerce giant Alibaba to acquire a minority stake in logistics company XpressBees for an estimated amount of $100 million as it looks to break into Indian markets to compete with global rival Amazon, and homegrown rival Flipkart. BoB failed to sell bad loans amounting to ₹2,300 crore due from Bhushan Steel and …

LIC’s investment cleared, Market stays sluggish, Discontent against IBC tweaks -Weekly Digest #54

Monday- 27th November 2017 Finance Ministry of India has confirmed that LIC's proposed investment ₹1.5 lakh crore in the Indian Railways. Earlier, concerns were raised regarding that it would take LIC's exposure to more than 25% of IRFC’s net worth. Goldman in its year-end forecast predicted that India's economic growth will touch the mark of 8% in FY19 …

IBC Tweaks approved, GST benefit ensured, E-cabs by Uber- Weekly Digest #53

Monday- 20th November 2017 CBEC Chairman, Vanaja Sarna has written to the biggest companies to ensure that the GST cut from 28% to 18% on 178 consumer products is passed on to the consumers. Infibeam is in talks with Prem Watsa’s Fairfax Financial Holdings to sell a minority stake. The company is also considering strategic investment in …

McDonalds faces major shutdown, Provisioning halts insolvency recovery, VIVO wins IPL bid- Weekly Digest #46

Monday- 26th June 2017 The government has relaxed GST provisions for e-commerce as it has deferred provision that required e-commerce players such as Amazon and Flipkart to deduct tax on payments made to their vendors and small businesses that sell through these e-commerce platforms don't have to register themselves immediately. SBI has mandated Alvarez & Marsal to act …

GST Council set rates, Bad loans under Bankruptcy Code, Hyundai Fined by CCI- Weekly Digest #44

Hello, readers. I hope you are doing fine. I would like to apologise for the absence for over five weeks. It was due to medical necessities. I hope this will not repeat anytime soon. Monday- 12th June 2017 GST council lowers rate on 66 household and other essential items such as Cashew nuts, insulins, cutlery, …