Amazon to foray into food delivery space with Prime Now : Bulletin: Business Today
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Amazon to foray into food delivery space with Prime Now

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August 20, 2019

ED arrests Kamal Nath's nephew Ratul Puri in Rs 354 crore bank fraud case

The Enforcement Directorate (ED) has arrested Ratul Puri, MP Chief Minister Kamal Nath's nephew, in connection with a Rs 354 crore bank fraud case. The ED arrested Puri, the former executive director of Moser Baer, after the Central Bureau of Investigation (CBI) last week filed an FIR against him, his father and Moser Baer Managing Director Deepak Puri, Directors Nita Puri (Ratul's mother and Kamal Nath's sister), Sanjay Jain, Vineet Sharma and others for defrauding the Central Bank of India of Rs 354.51 crore. They were all booked for alleged criminal conspiracy, cheating, forgery and corruption after a complaint from Central Bank of India.

PM Modi, Donald Trump discuss bilateral trade, Kashmir situation in 30-minute phone call

Prime Minister Narendra Modi and US President Donald Trump discussed bilateral trade between the two countries during a 30-minute-long telephonic conversation on Monday. PM Modi also voiced his concerns over the extreme rhetoric and incitement to anti-India violence by certain leaders in the region, calling it a hindrance to peace. During the conversation, PM Modi recalled his meeting with President Trump on the sidelines of G-20 Summit in Osaka in June earlier this year.

Pakistan, India spar over using water as a weapon in Kashmir dispute

Accusing India of waging "fifth-generation warfare", Pakistan said on Monday New Delhi had failed to inform it about the release of water from a dam that could cause flooding across the border. India, however, rejected the claim saying that under the terms of a water treaty between the two nations it had informed Pakistan about the release of excess water late on Monday when it crossed a certain threshold.
Relations between the neighbours, already hostile, have been further strained over India's decision this month to revoke the special status of its portion of the Kashmir region.

Amazon to foray into food delivery space with Prime Now

Amazon India has long been eyeing the food delivery business in India. As per market reports, the e-commerce giant's Prime membership plan had logged more than 10 million users in the country in 2018.  Amazon is confident that the addition of a food delivery segment to its Prime offering will not only bring in more daily users but also boost the number of transactions. People aware of the company's plans told The Times of India that Prime Now, Amazon's two-hour grocery delivery platform, could be the primary vehicle for its foray into food delivery business in India.

Visa critical of govt's move towards no-fee debit card transactions

Global card payments group Visa (V.N) is critical of the Indian government's decision to boost adoption of electronic payments by requiring banks and card payment networks to offer no-fee debit card transactions, a senior Visa executive said. Last month, India's Finance Minister Nirmala Sitharaman said that businesses with annual turnover of 500 million rupees will not have to pay a merchant discount rate on debit card and other digital modes of transactions, excluding credit cards.

US assures support to American tech firms in India

The United States ambassador to India has written to top American technology firms assuring them of support for a level playing field in India, a letter seen by Reuters showed, amid Washington's concerns over New Delhi's protectionist policies.
Kenneth Juster last month wrote to the heads of leading U.S. technology companies in India, urging them to "participate personally" in discussions with government officials in New Delhi on data localization and e-commerce.
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