It’s official. Google will make its debut in India’s e-commerce and retail ecosystem this Diwali via its payments platform, Tez, rechristened Google Pay.
From tying up with more than 2,000 e-commerce companies, including big names such as cab aggregator Uber and movie ticketing platform BookMyShow, to adding about 1.2 million offline merchants, including the likes of Big Bazaar, Google is on a hyperdrive to create an ecosystem where everything will hinge on the payments app. The company is also going to offer consumers instant loans on its platforms and has partnered four banks — HDFC, ICICI, Kotak Mahindra and Federal Bank. Read more
Jet Airways-Godrej land deal under I-T scanner
In fresh trouble for Naresh Goyal-controlled Jet Airways, the income tax (I-T) department is examining the airline’s financial deal with Godrej Buildcon (GBPL), a wholly-owned subsidiary of Godrej Properties. Read More
As part of a land development agreement, Jet Airways is said to have received ~17.25 billion as “monetary consideration” from the developers. The I-T department is assessing whether this attracts tax liability on the parties concerned. Sources say the department will soon seek an explanation and ask them to file a response.
Govt hopes RBI will agree to a middle path
Against the backdrop of the Allahabad High Court’s decision to not grant relief to privately-owned stressed power projects from the Reserve Bank of India’s February 12 circular, the government and the central bank have set the ball rolling to try and find a solution before the projects reach insolvency proceedings. A high-level empowered committee, headed by Cabinet Secretary PK Sinha, will meet on Friday to take a call on the issues that the government will take up with the RBI. Read More
Ayushman Bharat: Health and wellness centre a booster dose for Chhattisgarh
The third of the four-part series looks at the readiness for Ayushman Bharat in Chhattisgarh, a state which took the lead in the initiative. Read More