wholesaletents

New Delhi: Flipkart India, the wholesale arm of Walmart-owned e-commerce company Flipkart, has received about Rs 1,431 crore from its Singapore-based parent, according to documents filed with the Corporate Affairs Ministry.The parent entity was issued 4.86 lakh shares in Flipkart India at a price of about Rs 29,400 per share, the documents showed. Flipkart had invested Rs 2,190 crore in Flipkart India in December last year.The latest fund infusion comes at a time when Flipkart faces challenges on the regulatory front in the form of new policy norms for e-commerce firms with foreign investment.The new rules -- effective from February 1 -- bar online marketplaces with foreign investments Party Tent for sale from selling products of the companies where they hold stakes, and ban exclusive marketing arrangements.Another provision states that the inventory of a vendor will be seen as controlled by a marketplace, if over 25 per cent of the vendors purchases are from the marketplace entity, including the latters wholesale unit.

Both Amazon and Flipkart have approached the government seeking extension on the deadline.New Delhi: Ahead of the monetary policy review, Reserve Bank of India Governor Shaktikanta Das on Monday met heads of public sector banks and conveyed to them the regulators expectation from the banking sector.RBI is scheduled to announce its sixth bi-monthly monetary policy for 2018-19 on February 7. It would be the the first monetary review under the new RBI Governor."Basically the idea was convey to them the regulators expectation from the banking sector in general and public sector banks in particular, and also to get from them their understanding of the current banking situation, and to get an understanding about the future outlook, the sense they have," Das said after meeting CEOs of PSU banks.It is widely expected that RBI would cut interest rate in its upcoming review meeting.