Top 10 business headlines: RBI rate cut, Tata Trusts rejig likely, and more

Here are the top 10 business stories that made news on Thursday

Rate cut season back after 18 months as RBI moves to lift growth momentum

The Reserve Bank of India (RBI) on Thursday went against the consensus and cut the policy rate by 25 basis points to give a lift to the growth momentum of the economy, a key concern for the poll-bound government. Detailed report here

Tata Trusts rejig likely, managing trustee Venkataramanan's role uncertain

Tata Trusts, a cluster of charitable organisations controlling 66 per cent of Tata Sons, the holding company of the group, is facing a major rejig. This follows the recent withdrawal of income-tax exemption for Sir Dorabji Tata Trust, one of the oldest and biggest philanthropic organisations in the country, due to alleged violation of certain conditions. Read more
 

At Rs 26,961 crore, Tata Motors logs biggest quarterly loss for India Inc

Tata Motors reported the biggest quarterly loss among Indian corporates after it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter. More details

Most unemployment surveys are skewed, PM Narendra Modi tells House

In what is likely to be his last speech in the Lok Sabha’s current term, Prime Minister Narendra Modi on Thursday responded to the recent criticism his government has faced for its purported failure to create jobs. Read on

UK to invite India to co-develop sixth-generation fighter aircraft Tempest

After having spurned Moscow’s proposal to jointly develop a fifth-generation fighter aircraft, the Indian Air Force (IAF) will be invited this month by the UK to co-develop a sixth-generation fighter called the Tempest. Click here to read more

Bajaj drops iconic 'Hamara Bajaj' tagline to highlight global ambitions

In a media interaction at the launch of the recent corporate campaign for Bajaj Auto, the company’s managing director, Rajiv Bajaj said that he wanted people around the world to think Bajaj whenever they thought about motorcycles. Read on

Jio backs govt over tracing origin of messages, others cite privacy issues

Backing the government effort to contain spread of fake news, Reliance Jio has said it supports tracing the origin of messages, even if it means breaking encryption. Responding to a consultation paper on the subject, the Mukesh Ambani-controlled telco has told the Ministry of Electronics and Information Technology (MeitY) that the government must take all steps to prevent misuse of technologies and platforms to spread fake news. Click here for more details

Insolvency court dismisses StanChart’s petition in Ruchi Soya case

The Mumbai bench of the National Company Law Tribunal (NCLT) on Thursday dismissed Standard Chartered Bank’s petition to reclassify it as a financial creditor to Ruchi Soya Industries Ltd, stating the lender is too late in seeking such a change, according to a Livemint report.

Final ‘prescriptions’ on e-pharmacies not before polls; issue in courts, too

The rules governing online pharmacies are unlikely to get finalised before the upcoming elections with the government seeking more time on it, according to The Hindu BusinessLine. The earlier timeline for rules to be finalised was January 31.

The last Winsome link vanishes, all trails in the Rs 6,800-cr scam go cold

Mustafa Batliwala, who was the right-hand man of Jatin Mehta, the founder of Winsome Group — India’s second-largest wilful defaulter after Vijay Mallya — is feared to have left the country, according to The Economic Times.