The business wrap: Centre fines Reliance Industries Rs 1,700 crore, and six other top stories
Other headlines: Two more executives quit Donald Trump’s business advisory council, and India’s trade deficit widened in July.
A look at the headlines in the sector right now:
- Centre fines Reliance Industries and partners Rs 1,700 crore for not meeting gas production target: Dhirubhai-1 and 3 gas fields were supposed to produce 80 million standard cubic meters per day, but fell way short of their target.
- Two more executives quit Donald Trump’s business advisory council: I resigned to call attention to the serious harm our divided political climate is causing to critical issues, Intel CEO Brian Krzanich said.
- India’s trade deficit widens to Rs 1.45 lakh crore in July: India’s exports grew to $22.54 billion as compared to $21.68 billion during July 2016.
- Bill Gates gives away Microsoft shares worth $4.6 billion to charity: Gates and his wife Melinda have given away about $35 billion of stock since 1994.
- SBI transferred thousands, closed several branches since April, but no major protests yet: Several hundreds of offices would be closed and thousands of staff would be moved in the coming months, officials said.
- Nearly 200 Limited Liability Partnerships in India face deregistration as government seeks to restrict illicit fund flows: these entities are in the process of being struck off from the register for not carrying out any activities.
- Sebi steps up surveillance on money laundering activities, to inspect suspected brokers: Sebi has also enhanced its cooperation with other regulators and agencies in India as well as abroad.