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IndiaTV Business: Google News Feed: Digest for February 17, 2024

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State-owned NMDC reported a significant increase in its consolidated net profit for the December quarter, rising by 62 per cent to Rs 1,469.73 crore compared to Rs 903.89 crore in the same period last year. This growth was primarily driven by higher income.
The Enforcement Directorate (ED) has  questioned senior executives at Paytm and collected documents from them in response to the recent Reserve Bank of India (RBI) action, which barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account.
Understanding credit cards can feel overwhelming, especially with options like increasing your credit limit. If you're considering this option, using your card frequently and making full payments on time can often lead to automatic increases in your credit limit by your bank.

Hyundai Motor plans Rs 300 crore IPO to expand market share

Thursday 15 February 2024 07:30 AM UTC+00
Hyundai Motor's planned $3 billion IPO in India serves a dual purpose: expanding its presence in one of the world's fastest-growing markets and addressing the "Korea discount" that impacts its valuation in its home country.
Britain's economy slipped into a recession during the latter half of 2023, contracting by a more significant-than-anticipated 0.3 per cent in the three months leading up to December.
Juniper Hotels, a luxury hotel developer operating properties under the Hyatt chain in India, has announced its initial public offering (IPO) with a price band set at Rs 342-360 per share of face value Rs 10 each. The IPO, valued at Rs 1,800 crore, will be open for subscription from February 21 to 23.
Boeing, the US-based aerospace company, has appointed Nikhil Joshi as the managing director of Boeing Defence India (BDI) as part of its efforts to strengthen operations and accelerate growth in India's defence sector. Joshi, based in New Delhi, will oversee current and future programmes aimed at enhancing the mission readiness and modernization of India's defence forces.
Equity benchmark Sensex climbed over 225 points to reclaim the 72,000 mark while the Nifty settled close to the 22,000 level on Thursday on hectic buying in market heavyweights M&M, HDFC Bank and SBI, and positive global cues. Heavy demand for auto, energy and utility stocks also boosted the momentum as the market consolidated the gains, traders said.
The government on Thursday increased the windfall tax on domestically produced crude oil, raising it to Rs 3,300 per tonne from the previous Rs 3,200 per tonne, effective from February 16. Notably, this tax is imposed as a Special Additional Excise Duty (SAED). In addition, the SAED on diesel exports has also been raised to Rs 1.50 per litre from previously being nil.
New Delhi: The Directorate General of GST Intelligence (DGGI) summoned ten foreign airlines operating in India over alleged tax evasion on the import of services, according to Reuters quoting a report by CNBC-TV18. The agency sought clarification over payment of crew salaries and staff expenses at the offices of international airlines, according to sources.

Hyundai Motor plans Rs 300 crore IPO to expand market share

Thursday 15 February 2024 07:30 AM UTC+00
Hyundai Motor's planned $3 billion IPO in India serves a dual purpose: expanding its presence in one of the world's fastest-growing markets and addressing the "Korea discount" that impacts its valuation in its home country.
Britain's economy slipped into a recession during the latter half of 2023, contracting by a more significant-than-anticipated 0.3 per cent in the three months leading up to December.
Juniper Hotels, a luxury hotel developer operating properties under the Hyatt chain in India, has announced its initial public offering (IPO) with a price band set at Rs 342-360 per share of face value Rs 10 each. The IPO, valued at Rs 1,800 crore, will be open for subscription from February 21 to 23.
Boeing, the US-based aerospace company, has appointed Nikhil Joshi as the managing director of Boeing Defence India (BDI) as part of its efforts to strengthen operations and accelerate growth in India's defence sector. Joshi, based in New Delhi, will oversee current and future programmes aimed at enhancing the mission readiness and modernization of India's defence forces.
Equity benchmark Sensex climbed over 225 points to reclaim the 72,000 mark while the Nifty settled close to the 22,000 level on Thursday on hectic buying in market heavyweights M&M, HDFC Bank and SBI, and positive global cues. Heavy demand for auto, energy and utility stocks also boosted the momentum as the market consolidated the gains, traders said.
The government on Thursday increased the windfall tax on domestically produced crude oil, raising it to Rs 3,300 per tonne from the previous Rs 3,200 per tonne, effective from February 16. Notably, this tax is imposed as a Special Additional Excise Duty (SAED). In addition, the SAED on diesel exports has also been raised to Rs 1.50 per litre from previously being nil.
New Delhi: The Directorate General of GST Intelligence (DGGI) summoned ten foreign airlines operating in India over alleged tax evasion on the import of services, according to Reuters quoting a report by CNBC-TV18. The agency sought clarification over payment of crew salaries and staff expenses at the offices of international airlines, according to sources.
The Reserve Bank of India (RBI) said on February 15 that it will conduct a seven-day variable rate repo auction of Rs 75,000 crore.
About 4.82 lakh passengers were affected due to delayed flights (beyond two hours) in January this year, forcing the airlines to pay out Rs 3.69 crore towards facilitation, according to the DGCA monthly traffic data released on Thursday.
Paytm Payments Bank has been excluded from a list of authorised banks recommended by India's road toll authority for purchasing Fastags. The Indian Highways Management Company has advised highway users to obtain Fastags from a list of 32 authorised banks, none of which includes Paytm Payments Bank.
Equity benchmark Sensex climbed over 225 points to reclaim the 72,000 mark while the Nifty settled close to the 22,000 level on Thursday on hectic buying in market heavyweights M&M, HDFC Bank and SBI, and positive global cues. Heavy demand for auto, energy and utility stocks also boosted the momentum as the market consolidated the gains, traders said.
The government on Thursday increased the windfall tax on domestically produced crude oil, raising it to Rs 3,300 per tonne from the previous Rs 3,200 per tonne, effective from February 16. Notably, this tax is imposed as a Special Additional Excise Duty (SAED). In addition, the SAED on diesel exports has also been raised to Rs 1.50 per litre from previously being nil.
New Delhi: The Directorate General of GST Intelligence (DGGI) summoned ten foreign airlines operating in India over alleged tax evasion on the import of services, according to Reuters quoting a report by CNBC-TV18. The agency sought clarification over payment of crew salaries and staff expenses at the offices of international airlines, according to sources.
The Reserve Bank of India (RBI) said on February 15 that it will conduct a seven-day variable rate repo auction of Rs 75,000 crore.
About 4.82 lakh passengers were affected due to delayed flights (beyond two hours) in January this year, forcing the airlines to pay out Rs 3.69 crore towards facilitation, according to the DGCA monthly traffic data released on Thursday.
Paytm Payments Bank has been excluded from a list of authorised banks recommended by India's road toll authority for purchasing Fastags. The Indian Highways Management Company has advised highway users to obtain Fastags from a list of 32 authorised banks, none of which includes Paytm Payments Bank.
The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have inked the Terms of Reference for integrating the Unified Payments Interface (UPI) of India with the National Payments Interface (NPI) of Nepal, aiming to streamline cross-border remittances. This collaboration is designed to enable users of both systems to conduct instant, cost-effective fund transfers between India and Nepal.
Continuing the positive trend, the Sensex surged more than 300 points in early trade on Friday, while the Nifty gained over 80 points, bolstered by encouraging global cues that uplifted investor sentiments.
The Income Tax Department has reportedly issued notices to individual taxpayers, highlighting discrepancies in their filings for deductions on donations made during FY21-22. These notices specifically flagged donations made to unrecognised political parties, prompting the department to investigate whether such donations were made for tax evasion or money laundering purposes.
The Indian government introduced High-Security Registration Plates (HSRP) a few years ago to address identification issues with vehicle number plates. These plates are equipped with special features like a 3D hologram and a laser-etched serial number to prevent tampering and enhance security.
The Reserve Bank of India (RBI) said on February 15 that it will conduct a seven-day variable rate repo auction of Rs 75,000 crore.
About 4.82 lakh passengers were affected due to delayed flights (beyond two hours) in January this year, forcing the airlines to pay out Rs 3.69 crore towards facilitation, according to the DGCA monthly traffic data released on Thursday.
Paytm Payments Bank has been excluded from a list of authorised banks recommended by India's road toll authority for purchasing Fastags. The Indian Highways Management Company has advised highway users to obtain Fastags from a list of 32 authorised banks, none of which includes Paytm Payments Bank.
The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have inked the Terms of Reference for integrating the Unified Payments Interface (UPI) of India with the National Payments Interface (NPI) of Nepal, aiming to streamline cross-border remittances. This collaboration is designed to enable users of both systems to conduct instant, cost-effective fund transfers between India and Nepal.
Continuing the positive trend, the Sensex surged more than 300 points in early trade on Friday, while the Nifty gained over 80 points, bolstered by encouraging global cues that uplifted investor sentiments.
The Income Tax Department has reportedly issued notices to individual taxpayers, highlighting discrepancies in their filings for deductions on donations made during FY21-22. These notices specifically flagged donations made to unrecognised political parties, prompting the department to investigate whether such donations were made for tax evasion or money laundering purposes.
The Indian government introduced High-Security Registration Plates (HSRP) a few years ago to address identification issues with vehicle number plates. These plates are equipped with special features like a 3D hologram and a laser-etched serial number to prevent tampering and enhance security.
State Bank of India (SBI) chairman Dinesh Khara said on Friday that the bank is currently in discussions with the Reserve Bank of India (RBI) regarding a potential reduction in the cash reserve ratio (CRR) requirement for green deposits.
Funding conditions in India may significantly impact loan growth for banks in the country, potentially leading to a moderation in credit expansion by 200 basis points in the upcoming fiscal year, according to S&P Global Ratings.
BREAKING | SpiceJet promoter Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited, has submitted a bid to acquire bankrupt airlines GoFirst.
About 4.82 lakh passengers were affected due to delayed flights (beyond two hours) in January this year, forcing the airlines to pay out Rs 3.69 crore towards facilitation, according to the DGCA monthly traffic data released on Thursday.
Paytm Payments Bank has been excluded from a list of authorised banks recommended by India's road toll authority for purchasing Fastags. The Indian Highways Management Company has advised highway users to obtain Fastags from a list of 32 authorised banks, none of which includes Paytm Payments Bank.
The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have inked the Terms of Reference for integrating the Unified Payments Interface (UPI) of India with the National Payments Interface (NPI) of Nepal, aiming to streamline cross-border remittances. This collaboration is designed to enable users of both systems to conduct instant, cost-effective fund transfers between India and Nepal.
Continuing the positive trend, the Sensex surged more than 300 points in early trade on Friday, while the Nifty gained over 80 points, bolstered by encouraging global cues that uplifted investor sentiments.
The Income Tax Department has reportedly issued notices to individual taxpayers, highlighting discrepancies in their filings for deductions on donations made during FY21-22. These notices specifically flagged donations made to unrecognised political parties, prompting the department to investigate whether such donations were made for tax evasion or money laundering purposes.
The Indian government introduced High-Security Registration Plates (HSRP) a few years ago to address identification issues with vehicle number plates. These plates are equipped with special features like a 3D hologram and a laser-etched serial number to prevent tampering and enhance security.
State Bank of India (SBI) chairman Dinesh Khara said on Friday that the bank is currently in discussions with the Reserve Bank of India (RBI) regarding a potential reduction in the cash reserve ratio (CRR) requirement for green deposits.
Funding conditions in India may significantly impact loan growth for banks in the country, potentially leading to a moderation in credit expansion by 200 basis points in the upcoming fiscal year, according to S&P Global Ratings.
SpiceJet promoter Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited, has submitted a bid to acquire bankrupt airlines GoFirst.
The Reserve Bank of India has given 15-day relaxation to Paytm Payments Bank to stop deposits, credit transactions and top-ups in customer accounts, and extended the date to March 15 from the earlier stipulated timeline of February 29, 2024. RBI has also issued an FAQ in the Paytm case.
Paytm Payments Bank has been excluded from a list of authorised banks recommended by India's road toll authority for purchasing Fastags. The Indian Highways Management Company has advised highway users to obtain Fastags from a list of 32 authorised banks, none of which includes Paytm Payments Bank.
The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have inked the Terms of Reference for integrating the Unified Payments Interface (UPI) of India with the National Payments Interface (NPI) of Nepal, aiming to streamline cross-border remittances. This collaboration is designed to enable users of both systems to conduct instant, cost-effective fund transfers between India and Nepal.
Continuing the positive trend, the Sensex surged more than 300 points in early trade on Friday, while the Nifty gained over 80 points, bolstered by encouraging global cues that uplifted investor sentiments.
The Income Tax Department has reportedly issued notices to individual taxpayers, highlighting discrepancies in their filings for deductions on donations made during FY21-22. These notices specifically flagged donations made to unrecognised political parties, prompting the department to investigate whether such donations were made for tax evasion or money laundering purposes.
The Indian government introduced High-Security Registration Plates (HSRP) a few years ago to address identification issues with vehicle number plates. These plates are equipped with special features like a 3D hologram and a laser-etched serial number to prevent tampering and enhance security.
State Bank of India (SBI) chairman Dinesh Khara said on Friday that the bank is currently in discussions with the Reserve Bank of India (RBI) regarding a potential reduction in the cash reserve ratio (CRR) requirement for green deposits.
Funding conditions in India may significantly impact loan growth for banks in the country, potentially leading to a moderation in credit expansion by 200 basis points in the upcoming fiscal year, according to S&P Global Ratings.
SpiceJet promoter Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited, has submitted a bid to acquire bankrupt airlines GoFirst.
The Reserve Bank of India has given 15-day relaxation to Paytm Payments Bank to stop deposits, credit transactions and top-ups in customer accounts, and extended the date to March 15 from the earlier stipulated timeline of February 29, 2024. RBI has also issued an FAQ in the Paytm case.
Paytm news: The Reserve Bank of India (RBI) today (February 16) gave a 15-day relaxation to Paytm payments bank on accepting deposits. The last date will now be March 15 (Friday) from the earlier date of February 29. The central bank also issued a set of frequently asked questions (FAQs) after several queries were sent by customers to the bank. 
The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have inked the Terms of Reference for integrating the Unified Payments Interface (UPI) of India with the National Payments Interface (NPI) of Nepal, aiming to streamline cross-border remittances. This collaboration is designed to enable users of both systems to conduct instant, cost-effective fund transfers between India and Nepal.
Continuing the positive trend, the Sensex surged more than 300 points in early trade on Friday, while the Nifty gained over 80 points, bolstered by encouraging global cues that uplifted investor sentiments.
The Income Tax Department has reportedly issued notices to individual taxpayers, highlighting discrepancies in their filings for deductions on donations made during FY21-22. These notices specifically flagged donations made to unrecognised political parties, prompting the department to investigate whether such donations were made for tax evasion or money laundering purposes.
The Indian government introduced High-Security Registration Plates (HSRP) a few years ago to address identification issues with vehicle number plates. These plates are equipped with special features like a 3D hologram and a laser-etched serial number to prevent tampering and enhance security.
State Bank of India (SBI) chairman Dinesh Khara said on Friday that the bank is currently in discussions with the Reserve Bank of India (RBI) regarding a potential reduction in the cash reserve ratio (CRR) requirement for green deposits.
Funding conditions in India may significantly impact loan growth for banks in the country, potentially leading to a moderation in credit expansion by 200 basis points in the upcoming fiscal year, according to S&P Global Ratings.
SpiceJet promoter Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited, has submitted a bid to acquire bankrupt airlines GoFirst.
The Reserve Bank of India has given 15-day relaxation to Paytm Payments Bank to stop deposits, credit transactions and top-ups in customer accounts, and extended the date to March 15 from the earlier stipulated timeline of February 29, 2024. RBI has also issued an FAQ in the Paytm case.
Paytm news: The Reserve Bank of India (RBI) today (February 16) gave a 15-day relaxation to Paytm payments bank on accepting deposits. The last date will now be March 15 (Friday) from the earlier date of February 29. The central bank also issued a set of frequently asked questions (FAQs) after several queries were sent by customers to the bank. 
Paytm Payments Bank has been given more time by the Reserve Bank of India to wind down its operations, while its parent company has signed on a new banking partner aiming to keep some of its popular products running and survive its current crisis. The RBI in January ordered Paytm Payments Bank, an associate of One 97 Communications (OCL) to stop accepting any new deposits in its accounts, or wallets, from February 29. The RBI extended the deadline to March 15 on Friday.
The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have inked the Terms of Reference for integrating the Unified Payments Interface (UPI) of India with the National Payments Interface (NPI) of Nepal, aiming to streamline cross-border remittances. This collaboration is designed to enable users of both systems to conduct instant, cost-effective fund transfers between India and Nepal.
Continuing the positive trend, the Sensex surged more than 300 points in early trade on Friday, while the Nifty gained over 80 points, bolstered by encouraging global cues that uplifted investor sentiments.
The Income Tax Department has reportedly issued notices to individual taxpayers, highlighting discrepancies in their filings for deductions on donations made during FY21-22. These notices specifically flagged donations made to unrecognised political parties, prompting the department to investigate whether such donations were made for tax evasion or money laundering purposes.
The Indian government introduced High-Security Registration Plates (HSRP) a few years ago to address identification issues with vehicle number plates. These plates are equipped with special features like a 3D hologram and a laser-etched serial number to prevent tampering and enhance security.
State Bank of India (SBI) chairman Dinesh Khara said on Friday that the bank is currently in discussions with the Reserve Bank of India (RBI) regarding a potential reduction in the cash reserve ratio (CRR) requirement for green deposits.
Funding conditions in India may significantly impact loan growth for banks in the country, potentially leading to a moderation in credit expansion by 200 basis points in the upcoming fiscal year, according to S&P Global Ratings.
SpiceJet promoter Ajay Singh, in his personal capacity, along with Busy Bee Airways Private Limited, has submitted a bid to acquire bankrupt airlines GoFirst.
The Reserve Bank of India has given 15-day relaxation to Paytm Payments Bank to stop deposits, credit transactions and top-ups in customer accounts, and extended the date to March 15 from the earlier stipulated timeline of February 29, 2024. RBI has also issued an FAQ in the Paytm case.
Paytm news: The Reserve Bank of India (RBI) today (February 16) gave a 15-day relaxation to Paytm payments bank on accepting deposits. The last date will now be March 15 (Friday) from the earlier date of February 29. The central bank also issued a set of frequently asked questions (FAQs) after several queries were sent by customers to the bank. 
Paytm Payments Bank has been given more time by the Reserve Bank of India to wind down its operations, while its parent company has signed on a new banking partner aiming to keep some of its popular products running and survive its current crisis. The RBI in January ordered Paytm Payments Bank, an associate of One 97 Communications (OCL) to stop accepting any new deposits in its accounts, or wallets, from February 29. The RBI extended the deadline to March 15 on Friday.
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