Jet: NCLT admits SBI's insolvency plea, orders resolution in 3 months : Bulletin: Business Today
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Jet: NCLT admits SBI's insolvency plea,orders resolution in 3 months

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June 21, 2019

Jet Airways crisis: NCLT admits SBI's insolvency plea, orders resolution in three months

The National Company Law Tribunal (NCLT) has admitted the insolvency plea by State Bank of India against Jet Airways on Thursday. The bankruptcy tribunal said the matter was of "national importance" and ordered a resolution as per the provisions of the Insolvency and Bankruptcy Act within three months.

Economic activity clearly losing traction, says RBI Governor Shaktikanta Das

The Indian economy has been clearly losing traction and needs a decisive monetary policy to promote growth, said Reserve Bank of India Governor Shaktikanta Das while voting for a 25 basis points (bps) rate cut along with other five members at the MPC meet earlier this month. Overall, there is clear evidence of economic activity "losing traction" with the GDP growth in the fourth quarter of the last financial year slowing to 5.8 per cent, he said.

Indian smartphone users consume maximum data in the world at 9.8 GB per month: Ericsson


Indians consume maximum data per month as compared to the rest of the world at an average of 9.8GB per month which is set to double to 18 GB by 2024 fuelled by rich video content, as per a report by Swedish telecom equipment maker Ericsson. The report anticipates the mobile data traffic per month to grow at a CAGR of 23% from 4.6 exabytes in 2018 to 16 exabytes in 2024.

Kia Seltos 2019 unveiled in India; check out price, engine, features


Kia Motors has unveiled its Seltos compact SUV in India. The Seltos is one of the several launches lined up by Kia Motors for the Indian SUV enthusiasts. The pricing details have not been made official yet but it is expected to cost about Rs 11-17 lakh (ex-showroom). At this price range, Seltos will take on Tata Harrier, Nissan Kicks, Renault Captur and the Hyundai Creta. The compact SUV will be produced at the Kia's 536-acre manufacturing facility in Anantapur, Andhra Pradesh. Kia Seltos will be launched in the second half of 2019.

Railways' big initiative! Travel time from Delhi-Howrah, Delhi-Mumbai to get reduced by 5 hours

The Indian Railways has decided to bring down the travel time between Delhi-Howrah and Delhi-Mumbai by 5 hours. The project will be carried out with an investment of Rs 14,000 crore in building infrastructure over the course of next four years. This is one of the 11 proposals made by the Indian Railways in its 100-day plan, and instructions have been given to "initiate immediate action" and implement these (projects) by August 31, 2019.

Sitharaman-led first GST Council meet to decide on tax cut on e-vehicles, NAA extension


The GST Council will on Friday consider slashing GST rate on electric vehicles to 5 per cent, from 12 per cent currently, along with extension of the tenure of the anti-profiteering authority by a year till November 2020. The 35th meeting of the GST Council and the first under Finance Minister Nirmala Sitharaman will also consider a couple of anti-evasion steps such as integration of e-way bill with NHAI's FASTag from April 1, 2010.

Prez Trump says Iran made 'very big mistake' by downing US drone


President Donald Trump said Thursday that Iran has made a "very big mistake" by shooting down a US spy drone, an incident that is likely to further escalate already soaring tensions between Washington and Tehran.Both the US and Iran said that Iranian forces had shot down an American military surveillance drone, but the two sides offered conflicting details on the incident.



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