Business Highlights Of The Day

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FORTIS-LD INVESTIGATION
New Delhi: Fortis Healthcare today said it has initiated legal action to recover about Rs 500 crore of funds allegedly taken out of the company by its founders Malvinder and Shivinder Singh after an external investigation found “systemic lapses and override of controls” in the loan given.

PNB-SCAM
New Delhi: Nirav Modi group’s exposure was not limited to only PNB’s Brady House branch in Mumbai, as the firms had availed loan facility from its Hong Kong and Dubai branches too, according to an internal report of the bank submitted to investigative agencies.

STOCKS
Mumbai: The Sensex plunged 273 points while the NSE Nifty finished below the 10,700-mark today as firming crude oil prices and a weak rupee hammered risk appetite amid an already uncertain global environment.

PM-LD SOCIAL SECURITY
New Delhi: Prime Minister Narendra Modi today said social security cover has now been extended to around 50 crore subscribers, an increase of about 10-times since 2014.

AIRINDIA-BUILDING
New Delhi: The government has started discussions for sale of Air India’s iconic building in Mumbai to the country’s biggest container port JNPT as part of efforts to raise funds for the cash-strapped national carrier, sources said.

RUPEE-CLOSE
Mumbai: The embattled rupee today plunged by 37 paise or 0.54 per cent to settle at a 19-month low of 68.61 against the US dollar as growing crude oil prices fanned fears of a widening current account deficit and a spike in inflation.

BULLION-CLOSE
New Delhi: Gold remained weak for the second straight day and drifted lower by Rs 25 to Rs 31,570 per 10 gram amid weakening global trend and easing demand from the local jewellers at the bullion market today.

CAB-LD-ETHANOL
New Delhi: The government today hiked price of ethanol, used for doping in petrol, by almost Rs 3 per litre to Rs 43.70 in a bid to cut India’s oil import dependence as well as give higher price for sugarcane.

CAB-LD-EXPORTS
New Delhi: The government today approved capital infusion of Rs 2,000 crore to Export Credit Guarantee Corporation (ECGC) to enhance insurance coverage to micro, small medium enterprises exports.

SINGAPORE FM-NSE
Mumbai: Singaporean finance minister Heng Swee Keat today asked the sparring NSE and Singapore Exchange to resolve their differences over derivatives trading to help widen and deepen investor interest in both the markets.

GST-SISODIA
New Delhi: Delhi Deputy Chief Minister Manish Sisodia today demanded abolishing Integrated GST, saying Rs 1.81 lakh crore has accumulated in the IGST fund but the money is lying idle and is causing economic loss.

GST-EVASION
New Delhi: The GST investigation wing has detected tax evasion of over Rs 2,000 crore in two months, and data analysis reveals that only 1 per cent of over 1.11 crore registered businesses pay 80 per cent of the taxes, a senior official said today.

SOURCEPTI

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