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Top headlines: RBI approves Piramal's DHFL plan; Apple lobbies with India

In Australia, Facebook has blocked access to news on its platform. More on that story in our top headlines

RBI | DHFL | Piramal Group

BS Web Team  |  New Delhi 

Piramal's plan will lead to recovery of Rs 37,250 crore over the next five years for DHFL's lenders

Apple Inc is angling to participate in a new scheme to boost India's exports of computer products, part of plans to bring iPad tablet manufacturing to the country. Here is more on that story and other headlines.

approves resolution plan from Piramal Capital and Housing Finance

The Reserve Bank of India has cleared the acquisition of Diwan Housing Finance Corporation by Piramal Capital And Housing Finance. The has pipped US-based asset management firm, Oaktree, by bidding far higher for the company last month and now it will merge with its financial services business as soon as the court clears the transaction. In a statement, said: “We understand that the has approved the resolution plan from Piramal Capital and Housing Finance, submitted by the CoC.” Read more

Cairn CEO meets finance secy over tax ruling, says meeting 'constructive'

Nearly two months after it won an international arbitration tribunal ruling against the Indian government levying taxes retrospectively, Britain's Plc Chief Executive Simon Thomson on Thursday met top finance ministry officials in hope of quickly resolving the issue. "We had aconstructive dialogue and the dialogue is ongoing," Thomson told reporters after meeting Finance Secretary Ajay Bhushan Pandey, CBDT Chairman P C Mody and other tax officials. Read more

Apple lobbies for India incentives as it plans iPad assembly: Report

Apple Inc is angling to participate in a new scheme to boost India's exports of computer products, part of what government and industry sources say are plans to bring iPad tablet manufacturing to the South Asian country. India launched a $6.7 billion plan to boost smartphone exports last year, as Prime Minister Narendra Modi stepped up efforts to promote electronics manufacturing and create jobs. Apple, which has steadily raised production of iPhones in India to lessen its dependence on Chinese manufacturing, took part in that scheme via its contract manufacturers. Read more

India Inc expected to dole out 7.3% average increment this year: Survey

Companies in India are expected to dole out an average increment of 7.3 per cent to employees this year amid faster-than-expected economic recovery and revival in business and consumer confidence, according to a survey. The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP (DTTILLP) also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019. As many as 92 per cent companies that participated in the survey plan to give an increment in 2021 compared to only 60 per cent last year. Read more

blocks news in in warning for the world

Inc.’s decision to block news sharing on its Australian platform is an unprecedented show of force that escalates a legal standoff with the government and flashes a warning to regulators worldwide. The tech giant imposed the restrictions early Thursday, an unexpected riposte to a proposed law that will force the company and Google to pay Australian publishers for news content. Facebook’s algorithmic ambush switched off the main news source for almost one in five Australians. It also disabled -- accidentally, the company said -- a raft of government pages carrying public health advice on the coronavirus, warnings from the weather bureau and even the site of a children’s hospital. Read more

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First Published: Thu, February 18 2021. 17:37 IST