The Adani Group-led Mumbai International Airport Limited (MIAL), which operates Chhatrapati Shivaji Maharaj International Airport (CSMIA), has proposed a hike in user development fees (UDF) for departing passengers. This marks the first UDF introduction under Adani Airports’ management. The proposal, subject to approval by the Airports Economic Regulatory Authority (AERA), aims to balance rising infrastructure …
The Reserve Bank of India (RBI) and the Bank of Mauritius (BOM) have signed an agreement to facilitate cross-border transactions in Indian Rupees (INR) and Mauritian Rupees (MUR). This initiative aims to strengthen financial cooperation, reduce transaction costs, and promote trade between the two nations. Framework for Local Currency Transactions The Memorandum of Understanding (MoU) …
Income tax filings in India have reached a new milestone, with over 9 crore returns submitted for the financial year 2025. The data highlights a significant number of high-income taxpayers, reflecting economic growth and improved tax compliance. With the deadline set for 31 March, the numbers are expected to rise further. Surge in Income Tax …
SpaceX’s Starlink is gearing up for its launch in India, but what makes this move even more intriguing is the unexpected partnerships with two of India’s biggest telecom giants—Reliance Jio and Bharti Airtel. Despite previously opposing SpaceX on satellite spectrum allocation, both telcos have now announced collaborations to bring Starlink’s broadband services to the country, …
The Indian government’s disinvestment receipts for the financial year 2024-25 (FY25) are poised to be the lowest since the Narendra Modi administration took office in 2014-15. As of now, the government has accrued ₹9,319.05 crore through minority stake sales, a significant drop compared to ₹16,507.29 crore collected in FY24. With only a short time left …
The compound average growth rate (CAGR) of employee compensation in India stood at 11.1% during the first ten years of Prime Minister Narendra Modi’s tenure. This figure, disclosed by Finance Minister Nirmala Sitharaman in Parliament, includes the post-Covid period, which saw significant changes in employment structures. Changing Work Trends Post-Covid The Covid-19 pandemic brought a …
Apple has started exporting AirPods manufactured at its Foxconn facility in Hyderabad, India, with initial shipments set to reach the United States and Europe in April 2025. This milestone makes AirPods the second product, after iPhones, to be produced in India for global markets. Foxconn’s Investment in Hyderabad Facility Foxconn, Apple’s manufacturing partner, invested ₹3,471.20 …
An organisation representing depositors of the New India Co-Operative Bank has filed a petition with the Reserve Bank of India (RBI), seeking urgent measures to alleviate their financial hardship. This development follows allegations of embezzlement amounting to ₹122 crore, leading to severe restrictions on withdrawals and the subsequent supersession of the bank’s board. The petition …
On March 19, 2025, as of 01:17 PM, the BSE Sensex was up 0.25% at 75,490.69, while the Nifty 50 was down 0.36% at 22,915.60. The mid-day top gainers and losers for the day are: Mid-Day Top Gainers Symbol Open High Low Prev. Close LTP %chng VSTL 131 155.83 131 129.86 155.83 20 DOLATALGO 74.9 …
Mercedes-Benz India is contemplating another price hike in April 2024, driven by the weakening rupee against the euro, as per news reports. According to Managing Director & CEO Santosh Iyer, if the rupee continues to depreciate, the luxury automaker will have to adjust its pricing to accommodate rising costs. Rupee’s Decline Sparks Concerns The Indian …
