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Business Updates

Air India’s first A350 enters service, carries the airline’s hope of restoring glory

June 25, 2020By businessreputationdata

According to Airbus, in a standard three-class configuration, the A350-900 can carry 300-350 passengers and has a flight range of over 15,000 km. The A350-1000 can carry 350-410 passengers, and can cover a little over 16,000 km non-stop.

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Business Updates

Rupee falls 9 paise to close at all-time low of 83.33 against US dollar

June 25, 2020By businessreputationdata

The rupee depreciated 9 paise to close at an all-time low of 83.33 (provisional) against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and unabated foreign capital outflows.

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Business Updates

IDFC to merge with IDFC First Bank

June 25, 2020By businessreputationdata

Priya said there are some businesses who have misused the registration process and now the CBIC is working to tighten the registration process and use information technology to catch fraudsters.

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Business Updates

Subway India takes away free cheese slice, offers sauce as inflation bites

June 25, 2020By businessreputationdata

American chain Subway is one of largest restaurant franchisers in India, with around 800 outlets. They now charge 30 rupees ($0.40) extra for the cheese slice in most sandwiches, but are offering a free “cheezy” sauce instead.

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Business Updates

RBI tightens norms to check evergreening of loans by lenders through AIFs

June 25, 2020By businessreputationdata

Banks and NBFCs, which are Regulated Entities (RE) under the Reserve Bank of India (RBI), make investments in units of AIFs as part of their regular investment operations.

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Business Updates

Adoption of CBDCs can make cross-border payments more efficient: RBI Governor Das

June 24, 2020By businessreputationdata

RBI Governor said the RBI is slowly and steadily expanding the CBDC pilots to more banks, cities, people and use cases.

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Business Updates

Land handed over to Foxconn for phone plant in Bengaluru

June 23, 2020By businessreputationdata

Revenue Secretary Sanjay Malhotra said the notification was issued because it is one of the requirements under the Financial Action Task Force (FATF), for which the mutual evaluation process is already underway for India.

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Business Updates

Why the hike in import duty for gold, silver findings and coins? Policy makers say move aimed at tackling arbitrage

June 23, 2020By businessreputationdata

Rise in gold prices and duties are also seen as the key reasons for higher gold smuggling in the country.

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Business Updates

China’s factory, service sectors stumble as economic malaise broadens

June 22, 2020By businessreputationdata

The commodity exchange renewed the contract for 2.50 billion rupees ($30.48 million) for six months, beginning July 1, compared with 810 million rupees for the first six months of the year.

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Business Updates

RIL seeks shareholders nod to appoint Mukesh Ambani as MD for next 5 years

June 22, 2020By businessreputationdata

Ambani had capped his annual remuneration at Rs 15 crore, from FY2009 to FY2020. Since FY2021, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential, RIL said.

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