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