Morning Business News Round Up_Mar 29, 2019

Morning Business News :

  • RBI eases office opening process for foreign entities
  • Banks’ consumer durable loan business shrinks 75%
  • Merger of Vijaya, Dena banks with BOB to continue: SC
  • Lenders ask for fresh round of bidding for Amtek Auto
  • L&T’s construction division bags Rs 2,500 cr orders
  • ZF signs agreement to acquire WABCO for $7-bn
  • PFC completes REC acquisition, hopeful of merger soon
  • Irdai keeps third party motor insurance rates unchanged
  • Bank union to write to govt, RBI against infusing money into Jet Airways
  • Donald Trump presses OPEC to boost output to bring down oil prices
  • S&P downgrades Tata Motors, subsidiary JLR credit rating for weak profits
  • Govt to infuse Rs 5,042 cr into BoB ahead of merger with Dena, Vijaya

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  • Infosys to buy 75% stake in ABN AMRO’s mortgage services arm for $143.5 mn
  • India keen to re-start talks on trade package with the US
  • Lupin launches generic skin treatment cream in US market
  • Siemens Gamesa commissions 10 MW solar project for Lakshmi Machine Works
  • Indonesia, India palm groups to propose tax incentives to certified palm
  • PE, VC investment in India at $20.5 bn in 2018: Report
  • Jet defaults on ECB due to ‘temporary constraints’
  • Need to reinvent Niti Aayog, says former RBI Guv Y V Reddy
  • M&M to raise vehicle prices due to high commodity rates
  • Alstom bags ₹700 cr contracts from Mumbai, Pune metros
  • PFC is now the second largest govt-owned financial firm after SBI
  • DLF’s over ₹3,000 crore QIP closed; issue price fixed at ₹183.4 a share
  • IOB receives shareholders nod for ₹3,806 crore capital infusion
  • Bigbasket valuation hits $2.2 billion; turns unicorn with $150 million funding from Alibaba, others
  • Manappuram Finance withdraws release on securing funding from NABARD
  • Bandhan Bank, Gruh finance merger by Dec; to push affordable housing
  • Axis Trustee, IndusInd invoke 15.6% pledged shareholding in RCom
  • Orchid Pharma’s promoter firm too goes under resolution process
  • Sensex rebounds over 400 points, Nifty ends at 11,570
  • Commerce ministry for imposition of countervailing duty on Chinese pneumatic tyres
  • Rupee plunges 42 paise to 69.30/USD on stronger dollar
  • Singapore recalls BP drugs with India-made ingredient