Airtel has introduced a new initiative under which the company will be giving preferential treatment to its postpaid customers. Reliance Industries Limited (RIL) became the first Indian company to cross Rs 12 lakh crore market capitalisation. "The World Bank's MSME Emergency Response Programme will address the immediate liquidity and credit needs of some 1.5 million viable MSMEs to help them withstand the impact of the current shock and protect millions of jobs," the Ministry of Finance said. Read for more top stories from the world of business and economy:
1. Airtel on thin ice on net neutrality with faster 4G to postpaid users?
By favouring one type of customers over others, Airtel is expected to court a controversy around net neutrality. As per net neutrality rules approved by Digital Communications Commission (or the erstwhile telecom commission) in July 2018.
2. RIL becomes first Indian firm to cross Rs 12 lakh crore market cap
The aggregate market capitalisation of billionaire Mukesh Ambani-led RIL, thus, stands at Rs 12.16 lakh crore, or $163.1 billion, on account of surge in share value after the company bagged 12th foreign investment for its digital arm Jio Platforms on Friday.
3. Finance Ministry trashes CBDT-CBIC merger rumour, calls it 'factually incorrect'
Earlier there was a news report claiming that the government is planning the merger of CBDT and CBIC, tax bodies pertaining to direct and indirect taxes, respectively.
4. US decision to suspend H1-B, other visas to cost just Rs 1,200 crore to $97 billion IT industry
The ratings agency report suggests that even if employee requirements through new visa approvals are completely met via local hiring and considering a 25 per cent premium for local hiring over the H1-B route.
5. India signs $750 million deal with World Bank to support 1.5 million MSMEs
The World Bank has so far committed $2.75 billion to support India's emergency coronavirus response, including the new MSME project.