BUSINESS
Tata Sons chief Chandrasekaran appointed as Air India Chairman
Earlier this month, ex-Turkish Airlines head Mehmet Ilker Ayci, who was named as the new Air India CEO-MD, declined the position. No reason was given for Ayci's decision. Last month, the Tata Group-led Air India announced the appointment of Ayci as the new Chief Executive Officer and Managing Director of the airline. At that time, Ayci while accepting the position said he is "delighted and honoured to accept the privilege of leading an iconic airline and to join the Tata Group".
BharatPe aims to disburse Rs 500 cr in gold loan by 2022 end
The company has partnered with RBI-approved non-bank financial companies (NBFCs) to offer gold loan of up to Rs 20 lakh. Now available for merchants in Delhi-NCR, Bengaluru and Hyderabad, the gold loan offering will reach 20 cities by the end of this year. "We have been able to facilitate disbursals of over Rs 3,000 crore to 3 lakh merchant partners. With Gold loan, we have ventured into the big-ticket, secured loan category," said Suhail Sameer, CEO, BharatPe.
Govt looking for alternative market for fuel purchase: Puri
Responding to a question during 'Question Hour', he said that the government has been exploring all options such as currency to facilitate purchase, supply of oil in markets, insurance, and freight. In response to Congress lawmaker Shakti Singh Gohil's question whether the government intends to reduce diesel rates, the Minister said that the prices of diesel were deregulated. "Whenever we felt that the common man needed more relief, we went ahead and reduced the price," Puri said.
Clarion call for an industrialized Atmanirbhar Bharat in the post-pandemic era
To realize this dream, it's important for India to become a global player in sustainable future technologies like electric vehicles (EVs) and renewable energies. India already has an ambitious target of converting 30 per cent of private cars, 70 per cent of commercial vehicles, and 80 per cent of two-and three-wheelers into EVs by 2030. According to the Centre for Energy Finance (CEEW-CEF), the EV market in India will be a US$206 billion opportunity by 2030.
Chitra Ramkrishna sent to 14 days judicial custody
Ramkrishna was produced before the special court after the expiry of her custodial remand. After Monday's hearing, the court remanded her to 14-day judicial custody. She will be lodged at Tihar Jail. The CBI had on March 6 arrested Chitra Ramkrishna, accused of grave lapses at India's largest stock market including sharing confidential information with an individual. She was produced before the court on March 7 after her anticipatory bail plea was rejected by the court a day earlier.
I'll use Rs 10 cr to give 1,000 jobs, not buy a dining table: Ashneer Grover
Reports surfaced last week, claiming that Ashneer "purchased a Porsche" when he was at BharatPe and "told multiple people at the company that he spent millions on a dining table"."Is it a space rocket? Is it a time machine? No it's a Rs 10 cr dining table!! I don't hold the Guinness World Record for the most expensive table ever. Nor do I intend to. Press - don't fall for BharatPe Board (undisclosed sources) lies - you'll lose your credibility like them," Ashneer tweeted.
India's Feb wholesale price inflation rises to 13.11%
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 13.11 per cent last month from 12.96 per cent reported for January 2022. Similarly, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry showed an exponential rise last month over February 2021, when it stood at 4.83 per cent.
HDFC Bank shares rise as RBI lifts curbs on bank's digital initiatives
Shares of HDFC Bank rose significantly on Monday after the Reserve Bank of India lifted the restrictions on the bank regarding its business generating activities planned under the 'Digital 2.0' programme. In August last year, RBI had relaxed the restrictions on the bank and allowed the lender to issue new credit cards.
Soaring LNG prices likely to drive up India's Rs 1 tn fertiliser subsidy
India's heavy reliance on imported Liquified Natural Gas (LNG) as a fertiliser feedstock exposes the nation's balance sheet to ongoing global gas price hikes, increasing the government's fertiliser subsidy bill, a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) said on Monday.
MakeMyTrip forays into NFTs to display unexplored domestic landscapes
Online travel platform MakeMyTrip on Monday announced to foray into the world of non-fungible tokens (NFTs) to celebrate the popular as well as unexplored travel landscapes in the country. The first batch of these digitally-crafted artworks cover the majestic landscapes of Goa, Ladakh, Orissa, Himachal, Kashmir, Kerala, Meghalaya, Rajasthan and Andamans. MakeMyTrip said it will pass on all proceeds from the sale of these NFTs to promote sustainable tourism in the country.
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