BUSINESS
Delhi bar, restaurant owners pin hopes for full occupancy post-lockdown
Most of the restaurant and bar managers in the city think that though the businesses are coming on the track slowly in the post-lockdown era, relaxation in occupancy in dine-in service can prove a boon for the industry. Pushpendra, manager at dine-out 38 Barracks in CP , said, "The business is getting normal now, but we are compelled to follow the rule of only 50 per cent of occupancy which affects our daily sell out."
US official privately criticised RBI ban on Mastercard
The documents show frustration within the US government after India's central bank banned new card issuance by American Express and Diners Club International in April, then took similar action against Mastercard in July. The Reserve Bank of India accuses the companies of breaking local data-storage rules. The bans do not affect existing customers.
Taxpayers still need to pay interest despite extension of filing dates
As per the clarification appended to the Circular extending the dates for filing tax returns, it has been clarified that the extension of the due date shall not be applicable in respect of provision of section 234A. The implication of this will be that despite filing the return in the extended period, the taxpayers shall be required to pay additional interest at the rate of 1 per cent per month from the original due date of filing tax return.
Auto sector disruptor PLI scheme to re-energise incumbents, charge up new players
Sources indicated that large auto players such as Hyundai, Tata Motors, Maruti Suzuki have already started studying their production plan keeping in mind the PLI scheme. Several smaller players and the startups, who have just recently begun their journey in the EV space, have also begun discussions to push up production in line with the PLI scheme
Fuel prices stable for fortnight amidst volatility in global oil market
The oil marketing companies (OMCs) on Sunday kept pump prices of auto fuels petrol and diesel unchanged, the 14th consecutive day of no revision, as they preferred to wait and watch the global oil situation before making any revision in prices. Accordingly, the price of petrol and diesel remains unchanged at Rs 101.19 and Rs 88.62 per litre in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer.
Data Led: Telecom players' ARPU to grow even without tariffs hikes
As per India Ratings and Research (Ind-Ra): "The sliding voice tariffs, growing data tariffs, increasing data usage per subscriber and increasing data subscribers in the overall subscriber base over the last one year indicate that the average revenue per user of the industry could grow even without tariffs hikes."
India hikes domestic flight capacity to 85%
Accordingly, the capacity is being raised from 72.5 per cent, which was set on August 12, 2021. Domestic airlines were allowed to operate at over 80 per cent of per-Covid capacity in December, 2020. It was later reduced due to the second Covid wave. Last month, the Centre had allowed domestic airlines to deploy up to 72.5 per cent of their flight capacity, up from 65 per cent.
Centre tweaks airfare cap rules, gives more pricing freedom
According to the Ministry of Civil Aviation, the fare band will now only be applicable for a 15-day cycle. Notably, the ministry in an order issued on Saturday said that if the fare cap applicability date starts from September 20, the fare bands shall be applicable till October 4. However, any booking done on September 20 for travel on or after October 5 shall not come under the fare bands.
Global Anxieties: Rupee to be under tapering fears (IANS Currency Outlook)
Experts opined that US FOMC meet will instil tapering fears, at the same time, imports are expected to rise on weaning impact of Covid 2.0.
Cryptocurrency Hyper Fund under govt scanner
Sources said Hyper Fund, a DEFI by Hyper Tech Group has come under the radar recently. The Group claims to have launched the Hyper Fund to provide a decentralized financial infrastructure. Hyper Fund was announced in mid-2020.
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