BUSINESS
Domestic aviation traffic continues growth, Jan records 1.25 cr passengers with 95.72% rise
According to data released by the Directorate General of Civil Aviation (DGCA) on Monday, the passenger load factor or occupancy of the airlines remained on the higher side in the range of 80 to 90 per cent. The newly-launched Akasa Air marked an 82.8 per cent occupancy during January.
India's GDP growth in FY23 to be 7%, FY24 at 6%: Acuite Ratings
It also anticipates the economic growth trajectory in FY24 to slip to 6 per cent, which would still make India one of the highest growth economies in the world. According to the ratings agency, the Indian economy has managed to withstand the headwinds rather well over the last several months amidst a tough global environment.
Youths investing in crypto: Campaign continues to inform on high risk, says Sitharaman
Rahul, a commerce second year student in Jaipur, invested Rs 5,000 and got Rs 1 lakh plus in return a few months later in 2022. Soon after, his cousins and friends started investing their pocket money into it and the trend continues even today. His cousin also invested a huge amount, however the currency tumbled soon after. It was his college fees and he had to face problems.
Aparna Kuppuswamy joins IPO-bound BharatPe Group as Chief Risk Officer
Prior to joining BharatPe, she was the Chief Risk Officer at SBI Cards for more than 14 years, where she led a number of key projects. Kuppuswamy will lead the risk portfolio across the BharatPe Group of companies, including the merchant and consumer businesses. She will work closely with Nalin Negi, CFO and interim CEO, to further build a robust lending vertical at BharatPe.
Tata Motors to induct 25K EVs into Uber's premium service in India
The collaboration represents the largest EV partnership yet between an automaker and a ridesharing platform in the country. In July 2021, Tata Motors launched the 'XPRES' brand exclusively for fleet customers, and the XPRES-T EV is the first vehicle under this brand. Tata Motors will help Uber electrify its services across Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad.
Petrol, diesel can be brought under GST ambit if council takes a call: Sitharaman
She was in Jaipur to attend the post-budget press conference where she answered at length on questions related to petrol-diesel prices, inflation, rising repo rates, among other issues. Answering a query on bringing petrol and diesel under the GST purview, she said, "Petrol and diesel can be taken under the GST if the GST council, which is not governed by any one government but finance ministers of all states, takes the call.
Mudra scheme boosting employment, self-employment opportunities in tourism sector: PM
Giving examples of shops, dhabas, guest houses, and homestays, the Prime Minister highlighted the loans up to Rs 10 lakh being provided to such businesses without any guarantee. "38 crore Mudra loans have been given across the country so far. About 8 crore youths have become entrepreneurs for the first time," Modi said while addressing the Uttarakhand Rozgar Mela via video-conferencing.
Modi, Singapore PM to witness launch of cross-border connectivity of payments interface
The launch will be done by RBI Governor Shaktikanta Das and Ravi Menon, managing director of Monetary Authority of Singapore. India has emerged as one of the fastest-growing ecosystems for fintech innovation. The linkage of these two payment systems would enable residents of both countries in faster and cost-efficient transfer of cross-border remittances.
Moderation in India's trade deficit could be transitory: Acuite Ratings
Acuite Ratings in a report maintaining the trade deficit at $106 billion or 3.1 per cent of gross domestic product (GDP) for FY23 added that there could be cushion in the form of: increased dependence on Russia for oil imports and re-exports, improvement in IT/ITeS service exports and slowing of domestic demand due to monetary policy measures.
Govt to meet bank heads to discuss emergency credit line guarantee scheme
The meeting would discuss the possibilities of using the schemes to help businesses impacted by the Coronavirus pandemic, the sources said. To ensure that the ECLGS is helpful for such businesses, the meeting is likely to discuss extending the scheme beyond March 31, 2023.
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