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Airlines are now free to implement their own check-in baggage policies. When domestic flights were allowed on May 25 after a two-month lockdown suspension, the aviation ministry had asked airlines to allow one check-in bag of up to 20 kg per passenger.

The Reserve Bank of India (RBI) gave borrowers a six-month freeze on their loan repayments, which ended on August 31, with about a third of India’s $1.8 trillion outstanding loans being deferred under the program. Businesses still trying to cope with a collapse in demand must now figure out how to pay back their loans … Continue reading End of moratorium threatens pain, defaults for biz

Gold price fell for the fourth consecutive day on Thursday, declining by Rs 485 to Rs 50,418 per 10 grams in the national capital amid weak international trends, according to HDFC Securities.

Business groups on Thursday welcomed contentious and long-delayed labour reforms passed by the Parliament this week, aimed at making hiring and firing workers easier and imposing restrictions on trade unions. The reforms to India’s decades-old labour laws are a key part of Modi’s moves to liberalise conditions for investment. But they have met with resistance … Continue reading Businesses cheer, unions fear new labour reforms

American cult bike maker Harley-Davidson has decided to shut down its India factory as business remains sluggish and sales are hard to come by. The company may soon announce a partnership with a local, homegrown Indian two-wheeler company that many expect to be Hero MotoCorp. The company had its factory at Bawal in Haryana.

Investors lost a whopping Rs 11,31,815.5 cr in six days of market declines, with concerns over economic recovery sapping risk appetite. Falling for sixth straight session, the BSE Sensex plunged 1,114.82 points or 2.96% to close at 36,553.60 on Thursday, tracking a heavy selloff in global markets. The market capitalisation of BSE-listed companies stood at … Continue reading Market mayhem: Investors lose Rs 11.31 lakh crore in 6 days

The government’s decision to do away with merchant fees on all payments using RuPay debit cards appears to have had some unintended consequences. There are indications that banks are choosing to issue Visa and MasterCard, which do not face any restriction on fees unlike RuPay.

Apple’s first online store in India went live on Tuesday, offering a full range of products, support and premium experience to consumers and the large aspirational fan base across the country, including trading old phones for a new iPhone.

Investors slashed $50 billion from Tesla Inc’s market value on Tuesday despite CEO Elon Musk’s promise to cut electric vehicle costs so radically that a $25,000 car that drives itself will be possible, but not for at least three years. Tesla’s market cap dropped $20 billion in just two hours after trading closed Tuesday, as … Continue reading Tesla’s value drop $50bn as batteries 3 yrs away

The strict lockdown in the first quarter of the current fiscal resulted in creating pent-up demand for home and auto loans, which is finding expression now. As per TransUnion Cibil data, home loan inquiry volumes in July and Aug have recovered to exceed last year’s levels but are still below Jan and Feb 2020. The … Continue reading Home loan inquiries top last year’s level

Vaccine major Bharat Biotech has joined hands with inked a licensing agreement with the Washington University School of Medicine in St. Louis for developing, conducting clinical trials, manufacturing and distributing a novel chimp-adenovirus, single dose intranasal vaccine for Covid-19.

State Bank of India (SBI) chairman Rajnish Kumar has said he does not expect the value of bank loans to corporates that come up for restructuring to exceed Rs 2 lakh crore. While rating agencies have forecast that loans of nearly Rs 8 lakh crore may need to be restructured, the chief of the country’s … Continue reading SBI: Only Rs 2L cr corporate loans may be recast

Uber’s India engineering team has been at the forefront of updating its maps across 150 cities around the world during the pandemic – pointing out containment zones, road closures and new routes that drivers can use to pick up riders in the shortest possible time.

European airlines are pinning hopes on pre-flight Covid-19 tests that deliver results as fast as pregnancy tests to help restore passengers’ confidence in taking to the skies in confined spaces with shared air. Germany’s Lufthansa, at the mercy of government bailouts for survival, is in talks with Swiss drugmaker Roche over deploying so-called antigen tests, … Continue reading Airlines pin hopes on pregnancy-type Covid tests

Walmart-owned Flipkart on Wednesday said it has partnered with Max Fashion, a move that will help the e-commerce major offer an expanded portfolio of apparel and accessories to customers ahead of the festive season.

Benchmark indices pared intra-day gains to end with losses for the fifth straight session on Wednesday as sentiment remained risk-averse despite supportive cues from global markets. Telecom and finance counters witnessed robust selling, while gains in index heavyweights RIL and HDFC Bank restricted losses for the benchmarks.

Bharti Airtel on Wednesday said it has picked up a strategic stake in Waybeo under its start-up accelerator programme, in line with its strategy to ramp-up cloud offerings. The company did not divulge into the financial details of the deal.

For depositors of the tainted Punjab and Maharashtra Cooperative (PMC) Bank, the situation is not very different from what it was almost a year ago when the Reserve Bank of India (RBI) placed withdrawal restrictions on the bank after the mega scam involving misreporting of loans with senior bank officials’ involvement came to light.