Business News June 2021 – Here we cover the most important Business News June 2021. We cover all the important business news from June month.
We update the Business News June 2021 article daily and the latest news appears at first. Our news sources are The Hindu, AIR, DD News, PIB, Indian Express, Business Line, and reputed and genuine sites.
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- PharmEasy acquires Medlife to create India’s largest online pharmacy
- NTPC Ltd. Joins UN’s CEO Water Mandate for Water Conservation
- World Bank approves USD 500 mn program to help boost India’s MSME sector
- BharatPe acquires loyalty platform PAYBACK India
- RBI allows prepaid mobile recharges through Bharat Bill Payment System
PharmEasy acquires Medlife to create India’s largest online pharmacy
PharmEasy has announced the acquisition of rival Medlife, after the deal PharmEasy the largest player in the domestic online pharmacy sector, with the combined entity set to serve 2 million customers a month. The deal values the stake of Medlife shareholders at $250 million.
Medlife customers have to log in to the PharmEasy app to start using their Medlife account via the same mobile number. All their digitised prescriptions and saved addresses dating back to a year will be available on the PharmEasy app.
CEO of PharmEasy: Dharmil Sheth
NTPC Ltd. Joins UN’s CEO Water Mandate for Water Conservation
NTPC Ltd has become a signatory to the prestigious UN Global Compact’s CEO Water Mandate, which focuses on efficient water management. The initiative also provides a platform for companies to partner with like-minded businesses, UN agencies, public authorities, civil society organizations, and other key stakeholders.
The CEO Water Mandate is a UN Global Compact initiative that mobilizes business leaders on water, sanitation, and the Sustainable Development Goals. Endorsers of the CEO Water Mandate commit to continuous progress against six core elements of stewardship and in so doing understand and manage their own water risks.
NTPC Chairman and Managing Director: Shri Gurdeep Singh, NTPC Founded: 1975, NTPC Headquarters: New Delhi, India
World Bank approves USD 500 mn program to help boost India’s MSME sector
The World Bank has approved a USD 500 million programs to support India’s nationwide initiative to reinvigorate the MSME sector, which has been frozen by the COVID-19 crisis.
The MSME sector is the backbone of India’s economy and it contributes 30% of India’s GDP and 4% of exports.
The USD 500 million Raising and Accelerating Micro, Small and Medium Enterprise (MSME) Performance (RAMP) Program is the World Bank’s second intervention in this sector, the first being the USD 750 million MSME Emergency Response Program, approved in July 2020 to address the immediate liquidity and credit needs of millions of viable MSMEs severely impacted by the ongoing COVID-19 pandemic.
World Bank President: David Malpass, World Bank Headquarter: Washington, D.C
BharatPe acquires loyalty platform PAYBACK India
BharatPe is a merchant payments and financial services provider. Recently BharatPe has acquired a multi-brand loyalty platform, PAYBACK India, to help its 6 million offline merchants roll out rewards and loyalty programs for customers.
PAYBACK India will continue to function independently, after the acquisition. The deal is expected to be worth $30 million, an individual aware of the discussions told Mint on condition of anonymity.
Chief Executive Officer of BharatPe: Ashneer Grover, Headoffice of BharatPe: New Delhi
RBI allows prepaid mobile recharges through Bharat Bill Payment System
According to RBI, The scope of the Bharat Bill Payment System (BBPS) will be expanded by August 31 this year by adding ‘mobile prepaid recharges as a biller category’.
Bharat Bill Payment System (BBPS) is an interoperable platform for recurring bill payments operated by the National Payments Corporation of India (NPCI).
NPCI MD & CEO: Dilip Asbe, NPCI Headquarter: Mumbai, NPCI Founded in: 2008