BUSINESS

Over half of India’s 800 aircraft plus airline fleet is less than five years old; planes older than 15 years account for 13 per cent of the total, civil aviation ministry informed Rajya Sabha on Monday.A young fleet helps an...

The financial incentive of ₹1,500 crore to offset some of the payment ecosystem’s operational costs covers only a fraction of the estimated ₹10,000 crore annual cost required to maintain and expand UPI services, according to the Payments Council of India.Further,...

Bengaluru-based public sector bank Canara Bank has announced the appointment of S K Majumdar as Executive Director of the bank. Prior to this elevation, Majumdar served as the CFO with the bank.Majumdar has been associated with Canara Bank since January...

Non-banking finance companies’ (NBFCs) unsecured consumer credit offtake is chugging along smoothly, clocking above industry growth, despite RBI, in November 2023, increasing the risk weights on such exposures as well as banks lending to them. Now, with RBI, last month,...

The Power Ministry has said that a committee will be formed to fix the market rate of land for laying of inter-state transmission lines in States where a mechanism for determination of the market value has not been created. The...

The Committee of Creditors (CoC) of Reliance Capital (RCap) has withdrawn a petition filed last year claiming ₹1,060 crore as interest payment from IndusInd International Holdings (IIHL) for delay in implementing its resolution plan in a time-bound manner.IIHL, the successful...

Tata AutoComp Systems Ltd, a leading Indian automotive components manufacturer, has announced the acquisition of International Automotive Components Group Sweden AB (IAC Sweden), a prominent manufacturer of interior systems and components for the automotive industry, which has an annual turnover...

Nestle India on Monday announced the launch of the Ceregrow variant with no refined sugar as part of its broader strategy to reduce and eliminate sucrose from all products meant for children. This comes after the Swiss packaged food major...

Germany-based semiconductor manufacturer Infineon Technologies on Monday announced that it will set up a Global Capability Centre (GCC) at Gift City in Gujarat which will employ a total of 400 engineers. This is the first GCC that will be set...