The Goods and Services Tax Council lowered tax on electric vehicles to 5 percent from 12 percent earlier. It also reduced the tax rate on the EV chargers or charging stations to 5 percent from 18 percent.
The new tax rate will be effective from Aug. 1, 2019
According to US Aerospace company Boeing the first four of 22 AH-64E Apaches helicopters ordered by India had been received by the Indian Air Force at the Hindon Station near New Delhi. An additional four Apaches will arrive in the coming week.
Apache - First attack helicopter in India’s defence arsenal
Private sector general insurer Digit Insurance will soon be entering the health insurance segment. The company that currently sells motor insurance, international travel insurance, home insurance and mobile insurance will sell medical policies as well.
Digit relies on technology for claims settlement as well
Food and beverages major PepsiCo India is planning to invest Rs 514 crore over the next three years to set up a greenfield snacks manufacturing plant in Uttar Pradesh. PepsiCo is committed to growing its food and beverage business sustainably in India.
PepsiCo India President and CEO Ahmed ElSheikh
Reliance Jio Infocomm Ltd. won more subscribers to become India’s biggest telecom operator, as companies prepare for the planned rollout of a 5G network next year. Reliance Jio’s subscriber base grew to 331.3 million in the quarter ended June.
It was launched 3 yrs ago by Mukesh Ambani, Asia’s richest man.
Alibaba Group Holding has unveiled its first self-designed microprocessor, potentially marking a key step in China's efforts to promote chip self-sufficiency amid clashes with the U.S. over access to technology.
It is named XuanTie 910 processor.
Credit rating agency CRISIL has revised its rating outlook on the long-term debt instruments, fixed deposit programme and long term bank facilities of PNB Housing Finance Ltd to ‘negative’ from ‘stable’ while reaffirming the ratings at ‘AA+/FAAA’.
CEO of CRISIL- Ashu Suyash
As per the latest depositories data, FPIs infused a net Rs 10,384.54 crore in June, Rs 9,031.15 crore in May, Rs 16,093 crore in April, Rs 45,981 crore in March and Rs 11,182 crore in February into the capital markets (both equity and debt).
Foreign Portfolio Investors -FPI
Corporation Bank has entered into a MoU with Bajaj Allianz General Insurance Co Ltd for providing insurance cover for accidental death to the specified saving bank account holders of the bank under the group personal accident insurance policy.
P. V. Bharathi -CEO, Corporation Bank.
Former union minister and senior Congress leader from Telangana, S. Jaipal Reddy passed away. The five-time member of Lok Sabha, four-time MLA and two-time Rajya Sabha member died while undergoing treatment for pneumonia. He was aged 77.
He held the petroleum portfolio under the UPA-2 govt. (2009-14)