Changes to Companies Act; new lease of life for cryptocurrencies; how to gauge coronavirus risk

Changes to Companies Act; new lease of life for cryptocurrencies; how to gauge coronavirus risk

Cabinet approved amendments to the Companies Act to decriminalise it and improve ease of doing business. Supreme Court has quashed the RBI ban on cryptocurrencies. The extent of coronavirus risk can be measured by looking at the number of travellers who came in from China and other epidemic-hit regions. Read for more top stories from the world of business and economy:

1. Govt approves amendments to remove criminality under Companies Act

Speaking to media after Cabinet meeting, Finance Minister Nirmala Sitharaman said the government is removing the imprisonment angle and reducing punishment proposed under Companies Act.

2. Supreme Court quashes RBI’s ban on cryptocurrency

The petitioner IAMAI argued that with a ban, cryptocurrency would be removed from the formal economy but would give rise to the same through black market transactions.

3. Mukesh Ambani bids Rs 4,700 crore for tower, fibre assets of Anil Ambani’s Reliance Infratel

UVARC has placed bids worth Rs 14,700 crore for assets of RCom and Reliance Telecom. Mukesh Ambani’s Reliance Jio has made an offer of Rs 4,700 crore for tower and fibre assets of Reliance Infratel.

4. Who has entered, who has exited India? This data can gauge coronavirus risk

Around 25,000 people have come to India from China since January according to bureau of immigration data for travellers by the Union Ministry of Health and Family Welfare.

5. SBI Cards IPO oversubscribed Day 3 despite weak market

Venture Capital funds have spent $10 billion on Indian start-ups in 2019, 55 per cent more than the previous year and is the highest ever in the Indian start-up ecosystem.

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