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:
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.
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.
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.
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.
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.