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Spicejet flight traveling from Mumbai to Durgapur on 1st May 2022 experienced severe turbulence that injured 17 passengers. The airline spokesperson said that passengers received minor injuries because the overhead cabin luggage started dropping on them as the turbulence occurred. Spicejet airline authorities verified the event as the flight landed. SpiceJet Boeing B737 aircraft operating […]
The Enforcement Directorate (ED) seized Rs 5551.27 crore from telecom firm Xiaomi India’s bank accounts on Saturday under the provisions of the Foreign Exchange Management Act, 1999, in connection with the company’s illegal outward remittances, the probe agency said in a press release. The ED launched an investigation in February this year into alleged illegal […]
While India’s real GDP in FY22 is estimated to be close to Rs 150 lakh crore, Reserve Bank of India’s (RBI) report on currency and finance for FY22 has estimated that the time to recover from the hit taken by the Indian economy due to covid pandemic would be around 15 years. The report has […]
Gautam Adani and Mukesh Ambani, Asia’s two wealthiest men, are doubling down on India’s media business, escalating competition in a market where Netflix Inc. and Amazon.com Inc. are eyeing over a billion users as battle for digital hots up. In a capital round led by James Murdoch-backed Bodhi Tree Systems, Ambani’s local joint venture with […]
Adani Enterprises Ltd has joined the media sector with the formation of AMG Media Networks Ltd, a wholly owned subsidiary. The new company would “carry on the business of media-related activities, including as publishing, advertising, broadcasting, and distributing information across various forms of media networks,” according to the press release. AMG Media Networks has three […]
Reliance Industries (RIL) and Lupa Systems, led by media veterans Uday Shankar and James Murdoch, have launched a new alliance for investment in sports and entertainment programming, four months after the two began investigating opportunities. Bodhi Tree Systems, a platform supported by Lupa Systems and Shankar, announced on Wednesday that it would invest Rs 13,500 […]
Air India, which is owned by Tata group, aims to buy low-cost carrier AirAsia India and has applied to the Competition Commission for clearance. Tata Sons Private Ltd owns 83.67 percent of AirAsia India, while AirAsia Investment Ltd (AAIL), a subsidiary of Malaysia’s AirAsia Group, owns the rest. Last year, Talace Private Limited, a wholly-owned […]
Adani Power became the sixth Adani Group company to reach a market capitalisation of Rs 1 trillion on Monday. The increase in market capitalization came after the stock reached a 5-percentage-point high on Monday. The large cap stock has risen 5% to Rs 272.15, from a previous close of Rs 259.20 on the BSE. The […]
The Reserve Bank of India has issued a new set of guidelines for credit and debit cards. These include a set of standard operating procedures (SOPs), as well as consumer protection measures as credit card usage explodes in India. It is hoped that the new rules will protect consumers from frauds and hidden charges, among […]
After 17 years of its entry into India, the world’s largest cement and building materials manufacturer Holcim group is mulling over the idea of pulling out of the country. The Holcim Group is putting its stake in Ambuja Cement and ACC Ltd up for sale. The firm is learnt to be in talks with the […]
The unrelenting, steadily rising prices of transport fuel in India – in some states, as much as Rs 15 over the past month – have resulted in unprecedented inflation in the country, pushing the price of daily commodities to sky-high levels. The cost inflation index for the financial year 2021-22 was 317. In February 2022, […]
At times a person is faced with a situation where he or she is in need of finance for a short time, be it fees for the children or unexpected medical emergency or a forgotten electricity bill. It may happen that your regular salary or revenue is still a few weeks or months away and […]
With less than three months to go before the nationwide ban on single-use plastic straws comes into effect, beverage makers are scrambling to come up with alternatives. The plastic straw pierced into Tetra Pak cartons has become one of the most common modes of consuming cold beverages in India and the ban will majorly impact […]
RBI and the Indian government have always been belligerent towards each other. However, this is the first time a senior government official has accused Rajan, the former governor of the Reserve Bank of India, of favoring developed nations by keeping interest rates low. The government has sought an investigation into the RBI’s true motivations for […]
As the new financial year ushers in on April 1, all eyes are looking for the effects the budget provisions shall have on their personal or business finance. This year is no different. Checking the budget for 2022, let us try to point out the important rules which shall affect our lives in the financial […]
On Friday, Reliance Group Chairman Anil Ambani resigned as director of Reliance Power and Reliance Infrastructure after SEBI (Securities and Exchange Board of India) restrained him from being associated with any listed company. In their BSE filing, Reliance Power said that “Anil D Ambani, non-executive director, steps down from the board of Reliance Power in […]
The Department of Revenue might ask the banks and crypto exchanges in reference to reporting the transactions that are made through virtual digital assets as the government is about to begin taxing gains through the cryptocurrencies and non-fungible tokens from the First of April. Once this is applied the sale and purchase that has been […]
The Indian Government is working on categorizing cryptocurrency under the Goods and Services Tax (GST) law so that the tax can be charged on the entire value of transactions. Currently, 18% GST is charged only on services provided by crypto exchanges. GST officers believe that cryptos are similar to gambling and lottery, which currently have […]
India’s Adani Group is exploring potential partnerships in Saudi Arabia, including the possibility of buying a stake in the world’s largest oil exporter Saudi Aramco. The group, led by chairman and founder Gautam Adani, has held initial talks on potential joint investment opportunities and cooperation with Saudi Aramco and the country’s Public Investment Fund (PIF), […]
Whoever said that pizza makes for a simple meal, think again. As per the Haryana Appellate Authority for Advance Ruling (AAAR), “a pizza topping is not a pizza and hence should be classified differently and levied a higher 18 percent goods and services tax (GST).” Classification of products has been a complex issue under GST. […]
