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IndiaTV Business: Google News Feed: Digest for June 12, 2023

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No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October.
Foreign institutional investors are on a buying spree in India. The Fast-Moving Consumer Goods (FMCG) sector has emerged as a favourite space for FIIs. In the latest round of foreign inflow in the economy, Nomura Singapore has once again raised its stake in Mishtann Foods.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
No-frills airline SpiceJet, which is trying to keep afloat amid several aircraft of its fleet being grounded over payment issues with lessors, on Friday said it plans to add 10 narrow-body Boeing aircraft, including five B737 Max, on lease by October.
Foreign institutional investors are on a buying spree in India. The Fast-Moving Consumer Goods (FMCG) sector has emerged as a favourite space for FIIs. In the latest round of foreign inflow in the economy, Nomura Singapore has once again raised its stake in Mishtann Foods.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said.
New Delhi: After withdrawing capital from equities in April, mutual funds put in over Rs 2,400 crore in stocks last month, primarily due to robust GDP growth, controlled inflation levels, and balanced liquidity in the economy. Going ahead, stronger inflows from the mutual fund space in equities are expected on positive macro numbers and the current fair value of Nifty, Feroze Azeez, Deputy CEO of Anand Rathi Wealth, said.
Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The sales and marketing teams at the company are likely to bear the brunt most by this decision, The Morning Context reported. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B (TLB). 
Mumbai: State Bank of India (SBI) on Friday received board approval to raise up to Rs 50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal. The instruments could be long-term bonds, Basel-III compliant additional tier-1 bonds, or Basel-III compliant tier-2 bonds.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said.
New Delhi: After withdrawing capital from equities in April, mutual funds put in over Rs 2,400 crore in stocks last month, primarily due to robust GDP growth, controlled inflation levels, and balanced liquidity in the economy. Going ahead, stronger inflows from the mutual fund space in equities are expected on positive macro numbers and the current fair value of Nifty, Feroze Azeez, Deputy CEO of Anand Rathi Wealth, said.
With government expecting that the new logistics policy will bring about transformative change by boosting economic growth and creating employment opportunities, several players are hopeful that they will be able to drive topline and redefine logistics solutions, thus enabling them to compete in the global market.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said.
New Delhi: After withdrawing capital from equities in April, mutual funds put in over Rs 2,400 crore in stocks last month, primarily due to robust GDP growth, controlled inflation levels, and balanced liquidity in the economy. Going ahead, stronger inflows from the mutual fund space in equities are expected on positive macro numbers and the current fair value of Nifty, Feroze Azeez, Deputy CEO of Anand Rathi Wealth, said.
Air India has strengthened the flight connectivity between Mangaluru and Mumbai by introducing a second daily flight from June 10 (Saturday). The development closely follows IndiGo's addition of a third daily flight on the Mumbai-Mangaluru route on May 22, an airport release in Mangaluru said.
Moody's said on Sunday that the Indian economy is expected to grow by 6–6.3 per cent in the June quarter and that there are risks of fiscal slippage because government revenues are lower than expected this fiscal.
In a major development, the Enforcement Directorate has issued a show cause notice to top Xiaomi Technology India officials. According to the news agency PTI, notices were sent to CFO Sameer Rao, former MD Manu Jain, and three foreign banks for alleged foreign exchange violations of more than Rs 5,551 crore.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said.
New Delhi: After withdrawing capital from equities in April, mutual funds put in over Rs 2,400 crore in stocks last month, primarily due to robust GDP growth, controlled inflation levels, and balanced liquidity in the economy. Going ahead, stronger inflows from the mutual fund space in equities are expected on positive macro numbers and the current fair value of Nifty, Feroze Azeez, Deputy CEO of Anand Rathi Wealth, said.
Air India has strengthened the flight connectivity between Mangaluru and Mumbai by introducing a second daily flight from June 10 (Saturday). The development closely follows IndiGo's addition of a third daily flight on the Mumbai-Mangaluru route on May 22, an airport release in Mangaluru said.
Moody's said on Sunday that the Indian economy is expected to grow by 6–6.3 per cent in the June quarter and that there are risks of fiscal slippage because government revenues are lower than expected this fiscal.
The current financial year will be 'a golden year' for Punjab National Bank due to its multi-pronged strategy and steady focus, its managing director Atul Kumar Goel has said. The state-owned bank's aim for FY24 is to adopt a multi-pronged strategy that seeks to build upon the existing synergies and capabilities to further scale up operational efficiency for facilitating sustainable and profitable growth, Goel said in his message to shareholders.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said.
New Delhi: After withdrawing capital from equities in April, mutual funds put in over Rs 2,400 crore in stocks last month, primarily due to robust GDP growth, controlled inflation levels, and balanced liquidity in the economy. Going ahead, stronger inflows from the mutual fund space in equities are expected on positive macro numbers and the current fair value of Nifty, Feroze Azeez, Deputy CEO of Anand Rathi Wealth, said.
Air India has strengthened the flight connectivity between Mangaluru and Mumbai by introducing a second daily flight from June 10 (Saturday). The development closely follows IndiGo's addition of a third daily flight on the Mumbai-Mangaluru route on May 22, an airport release in Mangaluru said.
Moody's said on Sunday that the Indian economy is expected to grow by 6–6.3 per cent in the June quarter and that there are risks of fiscal slippage because government revenues are lower than expected this fiscal.
The current financial year will be 'a golden year' for Punjab National Bank due to its multi-pronged strategy and steady focus, its managing director Atul Kumar Goel has said. The state-owned bank's aim for FY24 is to adopt a multi-pronged strategy that seeks to build upon the existing synergies and capabilities to further scale up operational efficiency for facilitating sustainable and profitable growth, Goel said in his message to shareholders.
The founder of one of the largest private sector health insurers Star Health and Allied Insurance Company Ltd Venkatasamy Jagannathan has tendered his resignation from its Board with immediate effect, industry sources said on Sunday. An industry veteran, Jagannathan had stepped down from his role as the Chairman of the city-headquartered firm in May.
New Delhi: Full-service carrier Vistara on Friday said it is facing a shortage of cabin crew uniforms due to an "unforeseen issue" with the supply of material. However, the airline said it is actively working with suppliers to resolve the issue as quickly as possible.
Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
The new business premium income of India's life insurance companies declined by 4.1 per cent to Rs 23,477.8 crore in May 2023, data from the Life Insurance Council showed. All 24 life insurers had a collective new business premium income of Rs 24,480.36 crore in the same month a year ago (May 2022).
Chief Economic Advisor Dr. V Anantha Nageswaran on Saturday praised the estimated 7.2% real GDP growth in 2022–23 and expressed optimism that the growth will be higher when the final fiscal numbers are frozen in early 2026.
New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said.
New Delhi: After withdrawing capital from equities in April, mutual funds put in over Rs 2,400 crore in stocks last month, primarily due to robust GDP growth, controlled inflation levels, and balanced liquidity in the economy. Going ahead, stronger inflows from the mutual fund space in equities are expected on positive macro numbers and the current fair value of Nifty, Feroze Azeez, Deputy CEO of Anand Rathi Wealth, said.
Air India has strengthened the flight connectivity between Mangaluru and Mumbai by introducing a second daily flight from June 10 (Saturday). The development closely follows IndiGo's addition of a third daily flight on the Mumbai-Mangaluru route on May 22, an airport release in Mangaluru said.
Moody's said on Sunday that the Indian economy is expected to grow by 6–6.3 per cent in the June quarter and that there are risks of fiscal slippage because government revenues are lower than expected this fiscal.
The current financial year will be 'a golden year' for Punjab National Bank due to its multi-pronged strategy and steady focus, its managing director Atul Kumar Goel has said. The state-owned bank's aim for FY24 is to adopt a multi-pronged strategy that seeks to build upon the existing synergies and capabilities to further scale up operational efficiency for facilitating sustainable and profitable growth, Goel said in his message to shareholders.
The founder of one of the largest private sector health insurers Star Health and Allied Insurance Company Ltd Venkatasamy Jagannathan has tendered his resignation from its Board with immediate effect, industry sources said on Sunday. An industry veteran, Jagannathan had stepped down from his role as the Chairman of the city-headquartered firm in May.
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