Daily News Podcast: HDFC Bank is India's most valued brand for 5th year in a row : Bulletin: Business Today
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Daily News Podcast: HDFC Bank is India's most valued brand for 5th year in a row

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September 7, 2018

Uber in talks with Indian regulators to understand modalities of aerial taxis

Ride-hailing app Uber, which is considering India among five global locations for its futuristic aerial taxi service, said it is in talks with regulators in the country to gauge the modalities and constraints of offering such a service. Last week, the Softbank-backed Uber had said it is considering India along with countries like Japan and France to be a part of Uber Elevate -- its aerial taxi service that could be launched in the next five years.
 
Electric vehicles, green automobiles to be exempted from permit requirements: Nitin Gadkari

The government has decided to keep electric vehicles and automobiles running on alternative fuels out of the ambit of permit requirements in order to boost public interest in them. Vehicles using electricity or, ethanol, biodiesel, CNG, methanol and biofuel need not apply for permits, said Union Road Transport Minister Nitin Gadkari. Demand for eco-friendly vehicles can be created by mandating cab aggregators like Ola and Uber to induct a certain percentage of such vehicles in their fleet.
 
HDFC Bank is India's most-valuable brand according to a WPP-Kantar Millward Brown report

HDFC Bank Ltd., India's largest private bank by market value, remained the country's most-valuable brand for the fifth straight year in a list of 75 companies compiled by advertising and marketing firm WPP and global research agency Kantar Millward Brown.Life Insurance Corporation of India and Tata Consultancy Services Ltd. made a debut among the top 10 on the Brandz list at No. 2 and 3, respectively. Reliance Jio Infocomm Ltd., the country's newest telecom operator, entered the list at No. 10.
 
US, India seal military communications pact, plan more exercises

India and the United States signed a breakthrough accord on secure military communications yesterday, possibly opening the way for sales of sensitive U.S. military equipment to India. The pact was signed after U.S. Defense Secretary Jim Mattis and Secretary of State Mike Pompeo met Indian Foreign Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman for talks aimed at deepening security ties.

Banks to refer 11 power companies to NCLT over loan default

Failing to find resolutions for stressed power sector companies, lenders have decided to refer 11 companies, including Prayagraj Power Generation, GMR Chhattisgarh Energy and Jaiprakash Power Venture, to the National Company Law Tribunal (NCLT), banking sources said. After crossing the August 27 deadline, banks have 15 days time to refer all stressed accounts to NCLT. There are 34 stressed power accounts, with a combined value of Rs 1.74 trillion.
 
PNB scam: Interpol issues red-corner notice against Nirav Modi's key man

The Interpol has issued a red-corner notice (RCN) against one of the close aides of Nirav Modi, Mihir Bhansali, in connection with the Punjab National Bank scam. Mihir, who was the CEO of Modi's Firestar International, is wanted by the Enforcement Directorate as part of its probe in the biggest bank scam. Interestingly, it was Mihir Bhansali, Director of Firestar Diamond, who filed an appeal before the US court for bankruptcy in February, just days after the PNB scam was detected.
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