 "Union Minister for Finance and Corporate Affairs Arun Jaitley with Banking Secretary Rajeev Kumar in New Delhi on Thursday photo: pti")
Big capital push for PSU banks
The government will infuse Rs 830 billion into public sector banks in the remaining months of 2018-19, taking capital injection into lenders to Rs 1.06 trillion in the year. Read more
Swiggy raises $1 bn; valuation jumps fivefold since February
India’s largest online food-ordering service, Swiggy, has raised a mammoth $1 billion in fresh funding led by South African internet and media conglomerate Naspers, pulling its valuation up to $3.3 billion. This represents a fivefold increase in the company. Read more
No coercive action against start-ups for now: CBDT
There will be no coercive action against start-ups to recover tax in accordance with the tax department’s assessment until a committee of experts resolves the issue of their recognition and delves into the tax incidence in individual cases, the Central Board of Direct Taxes (CBDT) said on Thursday. Read more
Ease of filing returns, rate cuts on GST Council agenda
The coming Goods and Services Tax (GST) Council meeting will primarily delve into issues that will ease the filing of returns and the refund processes for small and mid-size businesses. Read more
Wadias to continue legal battle for Jinnah House’s ownership
The government’s plan to hand over Jinnah House in Mumbai’s Malabar Hill to the Ministry of External Affairs (MEA) has not gone down well with the Wadia family, which is fighting a legal battle in the Bombay High Court to take over the upscale property, said sources. Read more
