Snooping row: Govt mulls safety audit of WhatsApp Pay; launch to be delayed
WhatsApp Pay may not launch anytime soon in India, as the government is planning a comprehensive safety audit of the payments platform, according to a source in the know. The payments vertical of the chat app has been running on beta for the last one year. Read more.
Govt considering one-time settlement option in drug overcharging cases
The government is actively considering options, including a one-time settlement, to expedite the recovery of dues from drug companies that allegedly overcharged customers for medicines under price control. The outstanding dues now stand at Rs 5,476.9 crore, of which Rs 4,032.5 crore is stuck in litigation. Read more.
Air India stake sale: Roadshows likely soon in Singapore and London
Officials from the civil aviation ministry and the Department of Investment and Public Asset Management (Dipam) will later this month visit Singapore and then London to drum up investor interest for national carrier Air India. Read more.
Open to join RCEP in future if we get favourable offers: Govt
A day after opting out of the Regional Comprehensive Economic Partnership (RCEP) deal, the government on Tuesday said it was open to being part of the grouping in the future if it got favourable offers addressing India’s concerns. Read more.
Punit Goenka to remain Zee's MD as lenders prepare for share sale
Zee Entertainment’s (Zee’s) Managing Director and Chief Executive Officer Punit Goenka has been reappointed to the position, effective January 1 next year, the broadcaster said on Tuesday, as lenders prepare to sell their pledged shares. Read more.
PNB reports net profit of Rs 507 crore in Q2; finances under stress
Though Punjab National Bank (PNB) posted a rise in profit before tax (PBT) of Rs 633 crore in the September quarter (Q2), its finances showed signs of stress, when it is going to acquire two public sector banks from the next financial year. Read more.
Bankers expect resolution of debt-ridden DHFL to be finalised by Dec-end
Bankers expect the resolution of debt-ridden mortgage lender DHFL to be finalised by the end of next month, according to a banker who is part of lenders' consortium. Read more.
IndiGo to announce strategic deal with Qatar Airways, shares up around 2%
India's largest airline IndiGo and Qatar Airways will make a strategic business announcement on Nov 7, the two companies said in a statement on Tuesday, sending shares of the budget carrier higher by as much as 2%. Read more.
‘Setting Floor for Telecom Tariffs may Not be Practical’
Suggestions that a floor be put in place for voice and data rates to boost the sector’s viability were apparently pushed back by Telecom Regulatory Authority of India (Trai). Officials were quoted as saying this was “not practical” and may even be “impossible” to attempt. The regulator will have to consider any such proposal made by the government, although it is not looking at starting any consultation on its own, reports The Economic Times.
Even after deadline, zero-MDR regime yet to kick in
Even after the November 1 deadline to move to a zero-MDR regime has passed, banks and non-bank payment players are groping in the dark. The Union Budget had proposed to do away with merchant discount rate (MDR) on digital transactions from November 1, reports Financial Express.