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Nov 21 2020 . ISSUE 12

Yay! The weekend is here and a very good morning!.😊. There has been a world's richest vs India's richest kind of fight going on in the business world for a while now. You might get to know the updates as you scroll down.. and sure, it's an eventful end to an eventful week.

The entrance strategy is actually more important than the exit strategy.

- Edward Lampert




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SBI, Luxembourg Stock exchange sign MoU to promote green finance.

LIC increased stake in Tata Chemicals to 7.09 from 5.03% earlier

Head ache for Amazon as CCI approves Future - Reliance deal
Documents in a folder with Trump Organization insignia

In a huge sigh of relief for its shareholders, The Competition Commission of India (CCI)approved the Future Group-Reliance Retail deal. 

A keenly awaited good news.. 

Following the approval, Reliance Retail will now have access to about 1,800 stores across Future Group's Big Bazaar, FBB, Central, Easyday, Foodhall formats, spread over 420 cities in India. 

In the tweet, CCI informed that : "Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited"

A look at the story..

Reliance Industries Ltd had in August, announced the acquisition of Kishore Biyani's Future Group for ₹24,713 crore, to strengthen their fast growing retail business. Foreseeing danger, Amazon sprung into action and accused Future retail of contract breach and the deal was put on hold by the Singapore arbitration court.

Following the interim decision, Amazon wrote to CCI and Securities and Exchange Board of India (SEBI) to consider the matter and CCI have come up with their decision, which by no means favour Amazon.

Bottom line: Well, Bezos might be the richest man in the world. But, there is only one king in the Indian market! 

Large NBFC's can get converted to banks : suggest panel
walmart shopping

In a revolutionary development, the internal working group of Reserve Bank of India (RBI) has suggested that large Non-Banking Financial Company (NBFCs) can convert into banks if they fulfill certain criteria.

Subject to conditions..  

As per a statement issued by the panel, well run large NBFCs, with an asset size of ₹50,000 crore and above, may be considered for conversion into banks. Subject to completion of 10 years of operations and meeting due diligence criteria are the other conditions specified. We might be looking at additional conditons as the suggestion is considered by the RBI.

The panel has also suggested on Payments banks with three years of experience to be made eligible for conversion into small finance banks. 

The working group was formed on June 12, to review the ownership guidelines and corporate structure for private Indian banks. 

Bottom line:  We have one thing more to keenly watch out for! Let's how the NBFCs will react to the proposal amid the present economic situation.!

Change of the leadership in Route Mobiles
walmart shopping

Cloud communications platform service provider Route Mobile appoints Sandipkumar Gupta as chairman. 

The latest blockbuster..

From entering the stock market scene very recently, route mobiles has had a bumper run! Sandipkumar Gupta will succed Chandrakant Gupta, who will continue to serve on the company's board as non-executive non-independent director.

A qualified chartered accountant, Sandipkumar has over 19 years of experience in audit and accounts, business analysis, SAP configuration, and software system consulting.

Ball's in Reliance's Court

Bottom Line: Someone who knows you well, leads you well.'

  • GMR, L&T, BHEL among 13 players shortlisted for operating private trains in 12 clusters.
  • Apollo Hospitals has partnered with Tata Medical and Diagnostics to offer Covid-19 testing "TataMD CHECK" across India.
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