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Biz EOD: PM Modi invites businesses to India, JioFiber not disruptive, cause of PMC Bank's woes and more

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twitter-logo BusinessToday.In   New Delhi     Last Updated: September 26, 2019  | 23:14 IST
Biz EOD: PM Modi invites businesses to India, JioFiber not disruptive, cause of PMC Bank's woes and more
Top stories from the world of business and economy.

In his keynote address at Bloomberg Global Business Forum, PM Narendra Modi promised a secure environment to global investors coming to India. Meanwhile, telecom disruptor Reliance Jio's venture into home broadband segment might not be all that disruptive. And the primary reason behind RBI's clampdown on PMC Bank. Read for more headlines from world of business and economy today:

1. PM Modi invites global businesses to 'come to India' and invest

"If you want to invest in a market where there is scale, come to India. If you want to invest in one of the largest infrastructure ecosystem and urbanisation, then come to India," said PM Modi.

2. Hurun Rich List 2019: Mukesh Ambani richest Indian for 8th year in a row

IIFL Wealth-Hurun India Rich List 2019: Mumbai topped the list with 42 billionaires, while Delhi followed on the second spot with 25 billionaires.

3. BT Buzz: Why Reliance JioFiber is not so disruptive, after all

For a telco, which has been dictating the tariff structure in the wireless segment, the pricing of Jio's fixed broadband services is unlikely to cause trouble to incumbents such as Bharti Airtel and BSNL.

4. Rs 2,500-crore loan to HDIL reason behind RBI clampdown on PMC Bank

According to a report, the biggest reason behind RBI's restrictions was PMC Bank's loan of Rs 2,500 crore to now-bankrupt real estate firm HDIL.

5. Will the GST rate cut boost the worried hospitality sector?

The reduction in Goods and Services Tax (GST) in the third week of September is expected to give confidence to hotel companies to increase tariffs.

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