Latest Business Updates
Air India to get Additional Equity Infusion
The government sought approval from the Parliament for additional equity infusion into Air India on December 20, 2018. This will include Rs 2,345 crore into Air India and another Rs 1,300 crore for Air India Asset Holding. The airline has a debt of around Rs 55,000 crore.
More Money to Recapitalise PSU Banks
The government sought the Parliament’s approval for an additional Rs. 41,000 crore to recapitalise PSU banks on December 20, 2018. This is over and above the already budgeted Rs.65,000 crore.
Iffco Tokyo and Royal Sundaram Fined
The Insurance Regulatory and Development Authority of India (IRDAI)imposed a fine on Iffco Tokio General Insurance and Royal Sundaram General Insurance on December 20, 2018. The fine of Rs 5 lakh each is for violating motor tariff claims and file & use guidelines.