The past couple of days have seen a rise in tension between India and Pakistan. The Indian air strikes in Pakistan yesterday and today's developments have dominated headlines. However, away from the Indo-Pak conflict, there have been some important news developments:
Centre detects Rs 20,000 crore GST evasions during April-Feb FY19
The Narendra-Modi led Central government has detected Rs 20,000 crore worth GST evasion so far this fiscal, according to a senior tax officer. Central Board of Indirect Taxes and Customs Member (Investigation) John Joseph said the government will take more steps to check frauds and increase compliance, PTI report. Earlier this week, the GST council reduced tax rates on under-construction apartments and affordable housing to five per cent and one per cent, respectively.
Airtel, Vodafone Idea consider plan to create optical fibre venture to take on Reliance Jio
India's leading telecom major Bharti Airtel and Vodafone Idea may team up to form a fibre joint venture on the same lines as Indus Towers, to take on billionaire Mukesh Ambani's telecom firm Reliance Jio. Bharti Airtel chairman Sunil Mittal said on Tuesday that he has 'invited' Vodafone Idea to be a partner in his fibre company Telesonic, and the two can pool assets together, according to a Times of India report.
Max India plunges 14% after selling 51% stake in Max Bupa Health Insurance
MAX India shares fell almost 14 per cent from its previous close of Rs 82 to intraday low of Rs 71, after the company, announced that the board has approved selling 51 percent stake in Max Bupa Health Insurance for Rs 510 crore to True North. The stock tops the loser list in BSE and in the all securities section in NSE. The all-cash transaction values Max Bupa at an enterprise value of Rs 1001 crore and is subject to requisite regulatory approvals.
Amazon Pay, Mobikwik, other e-wallet firms welcome extension of deadline for completion of KYC
Players like Amazon Pay and Mobikwik Tuesday said the extension of deadline for Know Your Customer (KYC) norms will ensure that customers are not impacted adversely and also the move would have a positive impact on India's financial inclusion story. Providing a major relief to e-wallet companies, the Reserve Bank of India on Monday had extended deadline by six months for compliance with KYC norms, for prepaid payment instrument (PPI) issuers.
Maruti Suzuki launches new Ignis with price starting at Rs 4.79 lakh
Maruti Suzuki India, the country's largest car maker, on Wednesday launched the 2019 edition of its hatchback Ignis with updated safety features and new roof rails to give it a strong road presence. The new Ignis, which is equipped with high speed alert system and reverse parking assist system, is priced between Rs 4.79-7.14 lakh (ex-showroom Delhi). "Taking passenger safety to next level, we have loaded Ignis with more safety features. These will be offered as standard across all variants," MSI Senior Executive Director (Marketing and Sales) R S Kalsi said.
Edited by Chitranjan Kumar