Food delivery firm Zomato has decided to shut down its Singapore and United Kingdom (UK)-based subsidiaries. The food technology company announced the closure of businesses in a stock exchange filing on September 1.

The net worth of Zomato Media Private Limited (ZMPL) headquartered in Singapore is Rs 6.5 lakh, the filing revealed.

As part of its “cleaning-up” exercise, the food delivery firm has been shutting international subsidiaries that don’t contribute to its business, reported The Economic Times.

The Telecom Regulatory Authority of India (TRAI) has rolled out a major tariff order for the telcos. According to the regulator’s order, the telcos can’t offer differential tariffs via their commercial partners. The sector regulator has said that the telcos can only offer tariffs that have been reported to the authorities. This is because offering anything else through the commercial partners is discriminatory and “contravene” the current rules set around pricing by the regulator.

Telecom operators shouldn’t offer anything not reported to the Regulator

The telecom operators can’t offer anything that has not been reported to the regulator. The sector regulator wants everything to be transparent, and if the operators offer tariffs that are not reported, it would be unfair to the customers.

State Bank of India has raised Rs 4,000 crore of the Basel- compliant Additional Tier 1 (AT1) bonds, it announced on September 1. The country’s largest lender raised the amount at a coupon rate of 7.72 percent.

Following the new SEBI regulations, this is the first AT1 Bond issuance in the domestic market. The issue garnered overwhelming response from investors with bids in excess of Rs 10,000 crore received against a base issue size of Rs 1,000 crore.

The public sector bank has now decided to accept Rs 4,000 crore at a coupon of 7.72 percent based on the response.

Reserve Bank of India (RBI) governor Shaktikanta Das on Tuesday spoke of measures to deepen retail participation even as he hinted at preparations to normalise the liquidity pumped into markets in the wake of the pandemic.

“As markets settle down to regular timings and functioning and liquidity operations normalise, the RBI will also conduct fine-tuning operations from time to time as needed to manage unanticipated and one-off liquidity flows so that liquid conditions in the system evolve in a balanced and evenly distributed manner,” Das said. He was delivering the keynote address at the annual conference organised by the Fixed Income & Money Market Derivatives Association (FIMMDA) and the Primary Dealers Association of India (PDAI).

Union Minister of Road Transport and Highways provided another impetus for alternative fuel when he announced recently that ethanol pumps will be set up across the country in the next 6 months. The Centre has been pushing for ethanol as an alternative fuel to petrol and diesel. “India is well-honed to look at future technologies. We will establish ethanol pumps network in the country within six months,” he said.

Gadkari made the comments at the 61st Society of Indian Automobile (SIAM) convention. He applauded how India leapfrogged from BS-IV to BS-VI norms in a short time frame. “

Gadkari also advocated the development of flex-fuel engines similar to countries such as Canada, the USA, and Brazil.