Lok Sabha nod to Rs 80,000 crore public sector bank recapitalisation plan
In a breather to Public Sector Banks burdened under mounting bad loans worth over Rs 2.1 lakh, the Lok Sabha gave its nod to the central government’s request for additional spending of Rs 80,000 crore to boost the capital health of Public Sector Banks. The latest approval of funds will be utilised by March this year. The matter will now be heard in Rajya Sabha.
New Maruti Suzuki Swift pre-orders open before official launch
Bookings for the new-generation Maruti Suzuki Swift have reportedly started in India weeks ahead of its official launch. One of the most-awaited cars of 2018 is scheduled to be introduced in the Indian markets at the upcoming Auto Expo 2018 in New Delhi. Considering that Swift is already a popular hatchback in Indian markets, the new iteration is expected to generate huge demands here. In preparation for this, some dealerships have already started accepting pre-orders for the car, according to media reports
Air India ties up with three banks for loans
State-owned Air India has tied up with UAE-based First Abu Dhabi Bank as well as Standard Chartered Bank and Mashreq Bank to avail short-term loans for acquiring three Boeing 777 aircraft. Two of the aircrafts are to be used for ferrying VVIPs and the delivery is scheduled to be completed next month.
Idea prepares for proposed merger with Vodafone
Idea Cellular, the telecom arm of the Aditya Birla Group, will be raising over Rs 6,700 crore, as the company gets set for the proposed merger with Vodafone India. In a statement Idea has said it will raise `3,250 crore through preferential allotment of nearly 33 crore equity shares to the promoter group entities’.
UIDAI issues clarification
In response to a news report published in the media claiming that a Whatsapp group sold all Aadhaar data for a sum of Rs 500, the Unique Identification Authority of India clarified that no such breach took place in its database. It stated that all personal data of citizens was safe and secure.
Jaypee Group targets to complete 24000 flats by 2020
Jaypee Group which is reeling under debt aims to complete the construction of pending 24000 flats in Noida by 2020 at a cost of Rs 8000 crore. Rs 6000 crore would come from homebuyers while the remaining would need to be infused according to Jaypee adviser Ajit Kumar. In 2007, Jaypee group started the development of 32,000 flats and plots in Wish Town, Noida. Only 8,000 units have been delivered so far by the debt-ridden company
Uber ex-CEO Kalanick plans to sell 29 percent of stake
Uber Technologies Inc co-founder Travis Kalanick, who was ousted as chief executive earlier in 2017, will sell about a third of his shares in the ride-services company for about $1.4 billion. Kalanick’s sale is part of a deal with a group of investors led by SoftBank Group Corp, which is taking a 17.5 percent stake in Uber, mostly by buying shares from early investors and employees. Initially, Kalanick had offered to sell half of his shares, but because there was a limit on how much SoftBank would buy, he will sell just 29 percent