 "Top headlines: Zomato speaks on CCI probe; India blocks 22 YouTube channels")
Govt considers seeking Rs 50,000 cr in mega LIC IPO next month: Report
India is considering seeking around Rs 50,000 crore ($6.6 billion) next month from the initial public offering of state-owned Life Insurance Corp, people with knowledge of the matter said.
The government is discussing selling as much as a 7% stake in LIC through the listing, according to the people, who asked not to be identified because the information is private. It aims to launch the share sale before current approvals for the offering expire on May 12, the people said. Read more
Will explain to CCI that we are not anti-competition, says Zomato
A day after the Competition Commission of India ordered a probe into food delivery majors Zomato and Swiggy’s practices on pricing and listing of restaurants, Zomato said in a regulatory filing that it will explain to the competition watchdog that it is in compliance with relevant laws.
“We will continue to work closely with the Hon'ble Commission to assist them with their investigation and explain to the regulator why all of our practices are in compliance with competition laws and do not have any adverse effect on competition in India,” Zomato said in a regulatory filing. Read more
Govt orders blocking of 18 Indian, four Pak YouTube-based news channels
The Ministry of Information and Broadcasting has directed the blocking of 22 YouTube-based news channels, of which four are from Pakistan, for allegedly spreading fake news to mislead viewers.
This is the first time that action has been taken against the Indian YouTube-based news publishers since the notification of the IT Rules, 2021 in February last year, it said. Read more
PhonePe to more than double employee count to 5,400 by December 2022
Digital payments platform PhonePe on Tuesday said it plans to more than double its total employee strength to 5,400 across the country by the end of December 2022 from existing 2,600.
"There are about 2,800 open job positions that the company is planning to fill in the next 12 months across Bengaluru, Pune, Mumbai, Delhi, and the rest of the country," Phonepe said, adding that hiring will be across levels and functions for engineering, product, analytics, business development and sales teams. Read more
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