QBiz: India, Russia Sign $500 Mn Deal; Airtel Draws New Strategy

Here’s your dose of latest business news.

Published21 Nov 2018, 01:47 AM IST
2 min read

1. Almost a Million Payroll Additions in September Highest in 13 Months

The number of people effectively subscribing to Employees’ Provident Fund Organisation (EPFO), or for PF services, peaked in September 2018 with 973,774 net additions to the payroll count in the formal sector.

(Source: Business Standard)

2. Airtel Draws Up Strategy to Take on Rivals Reliance Jio, Vodafone Idea

Bharti Airtel has put together a four-pronged strategy to take on its rivals Reliance Jio and Vodafone Idea. For one, the telco is targeting winning number one slot in terms of net addition of smart phone 4G subscribers month-on-month, wresting the position from Reliance Jio, through re-farming spectrum and aggressive fiberisation of towers.

(Source: Business Standard)

3. RBI Capital Adequacy Move Opens Window For Rs 3-Trn Extra Llending By Banks

With the Reserve Bank of India (RBI) extending the deadline for banks to meet capital adequacy norms, lenders will be able to disburse additional loans in excess of Rs 3 trillion till the end of next financial year, sources aware of the matter said.

(Source: Business Standard)

4. Indivior Plunges After Losing Ruling Over Suboxone Film Generic

Indivior Plc dropped the most since it became public in 2014 after losing an appeals court ruling that opens the door for Dr Reddy’s Laboratories Ltd. to begin sales of a generic version of the opioid treatment Suboxone Film in the US.

(Source: BloombergQuint)

5. RBI’s Relaxations To Provide Rs 35,000 Crore Capital Relief To Government Banks

The Reserve Bank of India’s decision to defer the full implementation of the "capital conservation buffer" prescribed for banks under Basel-III rules is expected to bring some relief to only a handful of state-owned banks, say analysts.

(Source: BloombergQuint)

6. India, Russia Sign $500 Million Deal For Two Warships

India and Russia on Tuesday signed a $500 million deal for construction of two warships in Goa for the Indian Navy under the technology transfer model, officials said.

(Source: PTI)

7. It is Ceasefire, Not Truce Between RBI And Govt

Markets are considerably relieved that the unhealthy spat between the Reserve Bank of India (RBI) and the government has been diffused after a nine-hour board meet on Monday. The Indian rupee rose and bonds gained, an indication that the absence of a raid on the central bank’s balance sheet was welcomed. The government got its demands of forbearance to small businesses and the RBI, by and large, stuck to its capital goals laid out by Basel for banks.

(Source: Live Mint)

8. Most Central Govt Dept Websites Lack Transparency: CIC Audit

Most of the central government department websites lack in suo-motu disclosure of public information under a mandatory provision of the Right to Information (RTI) Act, according to an official report released Tuesday. It said the ultimate objective of transparency by them can be performed only by the government who control all supply side of information.

(Source: PTI)

9. Mumbai’s New Luxury Flats Face Harsh Realty

The drag in luxury home sales may soon leave some of south Mumbai’s posh neighbourhoods with a string of almost empty skyscrapers. In Worli and neighbouring Prabhadevi, which host the super-rich in business and Bollywood, more than half of upcoming residential towers are struggling to find buyers.

(Source: Live Mint)

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