ED is probing Indian Airlines for alleged bribery in the 142 crore Airbus purchase. SEBI, after changing the margin framework for Commodity trading, now tweaked the margin framework for Cash and Derivatives Segment. At the Future Decoded CEO Summit, Reliance and Microsoft saw India as an emerging technology hotspot. Indian firms located in China may be severely hit after Coronavirus compels the Dragonland to quarantine cities. In the world of startup, a fintech startup called ‘Rupeek’ has raised $60 mn from several prominent investors. Have a quick roundup of what happened in India and across the globe by clicking the top stories of the week:
$2.2 Billion Airbus Jet Sale Raises Red Flags For ED – India’s Enforcement Directorate is inspecting a payment of Rs 142 crores which is linked to the 2006 purchase of 43 Airbus jets by Indian Airlines with added aircraft-overhaul facilities that were never built.
Microsoft-Reliance Amity: India A Hot Spot For Their Future Digital Ambitions – Reliance Industries Chairman Mukesh Ambani and Microsoft CEO Satya Nadella engaged in an informal conversation on February 24 at the Future Decoded CEO Summit which was attended by more than 150 CEOs. They discussed the nuances of the expanding business landscape and the potential of India as a digital nation.
SEBI Changes Margin Requirements For Cash And Derivatives Trading – After making changes to the margin framework for commodity derivates in January 2020, Market Regulator SEBI has made amendments to the margin requirements in the cash and derivates segment.
Economics Of Coronavirus: Peacock Falters In Virus Hit Dragon Land – Latest survey conducted by Confederation of Indian Industry (CII) on February 16 suggests that 130-odd Indian companies operating in China are facing real time revenue challenges, due the ongoing coronavirus (covid–19) outbreak. The unplanned costs are putting pressure on retaining employees who are understandably scared of the epidemic. Thus the firms could lose an estimated figure of 15% – 20% as a result.
Gold To Rupees To Rupeek, Fintech Startup Raises $60mn – Rupeek, a gold-backed online lending platform has raised $60 million from GGV Capital, Bertelsmann India Investments, Binny Bansal, KB Investments, Tanglin Venture Partners, Sequoia India, and Accel Partners.
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