BUSINESS
Delhiites can soon skip visiting banks for hypothecating vehicle loans
"Directions have been issued to ensure no physical documents will be received regarding hypothecation addition and termination after October 31. Further, we've also clarified that banks or lending institutions will have to submit all the documents and NOC digitally through OTP generated on Aadhaar linked mobile number, and hence do away with any requirement of a physical signature," said a statement quoting Delhi Transport Minister Kailash Gahlot, who convened a meeting with all the major banks offering vehicles loans on Wednesday.
Industry hails 'path breaking' telecom reforms
Cellular Operators Association of India Director General S.P. Kochhar said the measures show the government's intent for the much-needed structural reforms in the telecommunications sector, in scripting the success of Digital India, and in accelerating the journey to meet Digital India goals which will ultimately deliver ample benefit to the individual consumers.
Adani Transmission to strengthen power transmission system in MP with capex of Rs 1.2K cr
ATL won the project through the tariff-based competitive bidding (TBCB) process and received the LoI on September 14. ATL will build, own, operate and maintain the transmission project in the state of Madhya Pradesh for a period of 35 years. The project, ‘MP Power Transmission Package-II Limited', consists of approximately 850 ckt km of transmission lines and air insulated substations of various voltage levels.
No leadership structural changes on the anvil: Tata Sons Chairman
On Tuesday, a source-based report by a newswire stated that Tata Sons is considering "historic revamp of its leadership structure by creating a Chief Executive Officer's role to help improve corporate governance". Chandrasekaran's tenure as the Chairman of Tata Sons is coming to an end in February next year. The vacancy created after him fuelled speculation of a revamp in the leadership structure at the conglomerate.
CAIT launches campaign against arbitrariness of big foreign e-tailers
As part of launching the movement, the Secretary General of CAIT, Praveen Khandelwal, took out a protest march from Delhi to Agra, enroute which he participated in dharnas in eight different cities and towns, including Noida, Faridabad, Ballabhgarh, Palwal, Nodal, Kosi and Mathura.
Tatas among multiple bidders for Air India
"Tatas have submitted a financial bid for Air India," a Tata Sons spokesperson said. Taking to Twitter, DIPAM Secretary, Tuhin Kanta Pandey said that the disinvestment process now moves to the concluding stage. "Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," he posted.
Cabinet okay PLI scheme for auto, auto components
The scheme will also be applicable for the drone industry. The overall budgetary outlay for the scheme for these sectors will be Rs 26,058 crore. According to the government, the scheme will incentivise emergence of advanced automotive technologies global supply chain in India and bring fresh investments of over Rs 42,500 crore in five years.
Centre ushers in PLI for auto sector, focus on EVs
The over Rs 25,000 crore scheme is likely to boost production of components as well as give a push to the sector. In financial parlance, a PLI scheme provides incentives to the industry for boosting domestic production to lessen imports. Earlier, an outlay of Rs 1.97 lakh crore was made for PLI scheme spanning 13 sectors in budget 2021-22.
SpiceJet to launch 38 flights from Sep 15
"SpiceJet has also launched flights on the routes of Delhi-Surat-Delhi, Bengaluru-Varanasi-Bengaluru, Mumbai-Jaipur-Mumbai, Mumbai-Jharsuguda-Mumbai, Chennai-Pune-Chennai, Chennai-Jaipur-Chennai and Chennai-Varanasi-Chennai," the airline said in a statement on Wednesday. Besides the airline also launched new flights between Udaipur and Chennai which will operate thrice-a-week.
Delhi govt to get extra revenue of Rs 3,500 cr under new excise policy
"In comparison to the financial year 2019-2020, we will get Rs 10,000 crore in the wake of the new excise policy which will not only back Delhi Government's idea of coming up with this policy but will also prove our suspicion over the existence of a huge scale liquor mafia to be true," Sisodia said while addressing a press conference on Wednesday afternoon.
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