 The National Investment and Infrastructure Fund (NIIF) has acquired IDFC Infrastructure Finance (IDFC-IFL), an infrastructure debt fund. This acquisition is the first investment from NIIF’s strategic fund. The acquisition is subject to approval from RBI. IDFs are investment vehicles for channelling investment into India’s infrastructure sector. IDFC-IFL, with a loan book of Rs 4500 crore, lends to operating infrastructure projects, helping original project financiers to recycle their capital following the commencement of operations. |
| Source- The Economic Times |
  America’s IBM has acquired software company Red Hat in a $34 billion cash and debt deal, marking its biggest ever acquisition till date. Founded 25 years ago, Red Hat was valued at about $20.5 billion at the end of trading. The open source, enterprise software maker will become a unit of IBM’s Hybrid Cloud division, with Red Hat CEO Jim Whitehurst joining IBM’s senior management team and reporting to CEO Ginni Rometty. |
| Source- CNBC |
 Paytm has launched a QR-based smartphone payment settlement service in Japan in collaboration with SoftBank and Yahoo Japan Corporation. it is a smartphone-based settlement service that allows users to store money from a bank account in their ‘PayPay’wallet and make payments with it. Paytm stated that it is built around its QRtech which it has deployed in India to allow customers to make offline payments. Paytm is also offering a ‘cashback’ to users of PayPay in Japan. |
| Source- Business Today |
 Tata Consultancy Services (TCS) is the only Indian company among top 10 firms to get foreign labour certification for the H-1B visas for the fiscal year 2018, according to data from the US Department of Labour. The H-1B visas are the most sought-after among Indian IT professionals.The visa programme allows employers to temporarily employ foreign workers in the US on a non-immigrant basis in specialty occupations or as fashion models of distinguished merit and ability. London-headquartered Earnest and Young, a multinational professional services firm, has emerged as the top employer to have received the certification. |
| Source- The Livemint |
 Mukesh Ambani’s Reliance Industries made it official that it is entering a strategic investment partnership with Den Networks Limited and Hathway Cable and Datacom Limited, which will be a ‘win-win’ outcome for customers, local cable operators, content producers, and the companies. |
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All you need to know about the RIL-Hathway-Den strategic partnership:
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| Source- The Financial Express |
 Tata Consultancy Services (TCS) Ltd’s quarterly earnings from the financial sector have edged past that of Accenture Plc, which is nearly double its size, making company theworld’s largest pure-play information technology (IT) and consulting firm servicing megabanks and insurers. During the July-September period, TCS got $2.07 billion in business from banking, financial services and insurance, or the BFSI sector. This included $1.63 billion from work across application development and maintenance, and other traditional solution offerings, besides $445.9 million from its proprietary platforms such as TCS iON. |
| Source- The Livemint |
 In a move aimed at promoting digital transactions, the Reserve Bank of India (RBI) has released operational guidelines to facilitate payments among prepaid instruments (PPI) such as mobile wallets. The guidelines elaborate on requirements for achieving inter-operability for mobile wallets and cards, and norms for customer protection and grievance redressal. According to the notification issued by the RBI, inter-operability among mobile wallets, and between bank account and e-wallet would be enabled through the UPI system. Paytm, MobiKwik, Oxigen and Ola Money are some of the popular mobile wallets in the country. Currently, a mobile wallet does not allow customers to send or receive money from a wallet run by another company. |
| Source- Press Information Bureau (PIB) |
 Google will shut down Google+ for consumer use over the next 10 months after a bug exposed the personal data of up to 5 lakh users. Google stated that ” it discovered and immediately patched” the bug in March 2018 but found “no evidence” that any data was actually misused. Google reportedly didn’t earlier disclose the security breach because it feared regulation. According to Google, Google+ currently has “low usage and engagement” and that 90 percent of Google+ user sessions last less than 5 seconds. Still, the company plans to keep the service alive for enterprise customers who use it to facilitate conversation among co-workers. |
| Source- The Verge |
 Reliance Health Insurance, a wholly-owned subsidiary of Reliance Capital, has received final approval from IRDAI for its new health insurance business. The new company will commence operations by the December quarter of 2018. Reliance Capital has designated Ravi Viswanath, who has over two decades of global experience in health insurance, as CEO of the new health insurance company. Health insurance in India has been amongst the fastest growing insurance sectors, growing at 20 per cent annually, and is expected to double to over Rs 1 lakh crore by 2021. |
| Source- The Hindu |
 The Reserve Bank of India (RBI) has allowed state-owned oil companies to borrow long-term working capital from overseas. RBI relaxed the policy on borrowing up to 10 billion US dollar from the overseas by the state-owned fuel retailers. Till now oil marketing companies including Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, were not allowed to raise External Commercial Borrowing (ECB) for working capital needs on a long-term basis. Now, the RBI has allowed them to raise ECB of minimum maturity of 3 or 5 years. |
| Source- News on AIR |
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