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India's second mission to the moon Chandrayaan-2 likely in April: Isro
Posted on 17th February 2018
The Indian Space Research Organisation (Isro) is planning to launch Chandrayan-2 Mission around April this year. Chandrayaan-2 is the country's second mission to the moon.

The Union Minister of State (Independent Charge) of the Ministry of Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh said that Indian Space Research Organisation (Isro) is planning to launch Chandrayan-2 Mission around April this year.

RIL to take majority stake in BKC drive-in firm
Posted on 17th February 2018
Reliance Industries’ (RIL) wholly owned subsidiary Reliance Industrial Investments and Holdings (RIIHL) proposes to acquire equity shares of The Indian Film Combine (IFC), for `1,105 crore, according to a statement on stock exchanges. As part of the transaction, RIIHL will be acquiring 65% of current paid-up equity share capital of IFC from the existing shareholders. This will include 20% from the Mauritian arm of Xander Group Inc based in the US for `340 crore and 45% from entities belonging to the promoter group of RIL for `765 crore.

Ashok Leyland gets patent for tech to help improve fuel economy
Posted on 17th February 2018
Hinduja flagship commercial vehicle major Ashok Leyland has been granted a patent for its invention related to a technology for real-time road slope estimation, which could be used in predictive systems for improving fuel economy of vehicles.

The company’s invention comprises an apparatus for estimation of slope of the road taken by vehicles and by anticipating the upcoming road profile, fuel tank sensors could flag off required actions to save fuel.

Predatory tariff: Telcos to be fined up to Rs 50 lakh a circle
Posted on 17th February 2018
The Telecom Regulatory Authority of India (Trai) on Friday issued regulations on predatory pricing, which imposes a penalty of up to `50 lakh per circle on mobile operators if they are found to indulge in such practices. While the regulator has defined predatory pricing for the first time, it won’t affect the existing players in any manner as far as their current tariffs have been designed.

Reliance Jio offers 2,200 cash back on smartphone purchase
Posted on 17th February 2018
Reliance Jio has tied up with 22 handset manufacturers and will offer to new as well as existing subscribers cash back of `2,200 if they purchase a smartphone and recharge it with the operator’s `198 or `299 plans.

The operator accounts for 50% of the 4G handsets market share and through the ‘Football Offer’, it aims at increasing its subscriber market share.

Mahindra leads $40-m investment in Zoomcar
Posted on 17th February 2018
Self-drive car rental start-up Zoomcar has raised $40 million in a Series C funding round led by auto major Mahindra & Mahindra (M&M). The funding round also saw participation from existing investors. M&M will be investing `176 crore for a near 16% stake in the company.

The investment by M&M assumes significance given recent comments by its chairman Anand Mahindra in support of shared mobility.

SBI’s `1,935-crore loans up for ARC bids
Posted on 17th February 2018
State Bank of India (SBI) on Friday put on sale loans worth 1,935.62 crore to 24 different entities. It has sought bids for these from asset reconstruction companies (ARCs) on cash basis or a mix of cash and security receipts (SRs), according to a sale document. Bidding will be held on the bank’s e-auction platform.

LIC to invest 10k crore in equities in Q4
Posted on 17th February 2018
Life Insurance Corporation of India (LIC), the country’s largest insurer and the biggest life insurer, has invested `70,000 crore in equities till the end of the third quarter ended December 31, 2017, and it plans to invest another `10,000 crore before the end of the financial year.

The insurer had slowed investments in equities in December and January as markets were at elevated levels. But with recent corrections, LIC has resumed its equity purchases.

NPCI nod to WhatsApp for beta launch of BHIM UPI payments
Posted on 17th February 2018
National Payments Corporation of India (NPCI) on Friday said it has given its consent to Facebook-owned WhatsApp to roll out Unified Payments Interface (UPI)-enabled payments for a beta launch, with a limited user base of one million and a low per-transaction limit. NPCI did not specify what the per-transaction limit permissible for WhatsApp is.

Government withdraws plea to take over management control of Unitech
Posted on 17th February 2018
The government today withdrew its petition before the National Company Law Tribunal that was filed to take over the management of crisis-hit realty firm Unitech Ltd over alleged mismanagement and siphoning of funds.

The matter was listed today before a two-member NCLT bench, headed by President MM Kumar.

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