BUSINESS
Spike in overdues impacts NBFC performance in Q1 FY2022
According to analysis by ICRA while disbursements revived quite sharply in July 2021 on the back of the pent-up demand, sustainability of the same would depend on the broader macro-economic indicators. Given this subdued disbursements and portfolio rundown in the absence of any moratorium like in Q1 FY2021, the asset under management (AUM) for NBFC-segment shrunk in Q1 FY2022.
India's Aug retail inflation eases to 5.30% as food prices cool-off
Data, furnished by the National Statistical Office (NSO), showed that the Consumer Price Index, slipped to 5.30 per cent last month from 5.59 per cent in July. Even on YoY basis, last month's retail inflation was lower than 6.69 per cent recorded for August 2020. The macro-economic data assumes significance as it brings retail inflation mark in the range of the Reserve Bank of India's set target of 2-6 per cent for CPI inflation.
India to revise FDI policy for space sector: Sivan
In his address at the International Space Conference and Exhibition, organised by Confederation of Indian Industry (CII), on the theme 'Building NewSpace in India', Sivan, who is also Secretary of the Department of Space, said with India opening up its space sector for private players, there has been a lot of interest by the foreign companies to invest in India.
'Market share target for Indian space sector will be fixed soon'
IN-SPACe is the regulator for the private players in the Indian space sector and Goenka has been named as its Chairman. In his address at the International Space Conference and Exhibition, organised by Confederation of Indian Industry (CII), on the theme 'Building NewSpace in India', Goenka said: "The global space sector market is about $440 billion and India's share is less than two per cent."
South Indian cities dominate in office leasing on startup boom, IT sector
An Anarock report released on Monday said that among the top seven cities -- Bengaluru, Hyderabad and Chennai -- saw their share of total office leasing increase to 66 per cent in FY21, from 47 per cent in FY18. The other top markets are Mumbai Metropolitan Region, Pune, Delhi-NCR and Kolkata. The net office absorption in FY21 in the top cities was 21.32 million square feet.
IIB's rates to ensure profitability of insurers!
As per the draft regulations, put out by Insurance Regulatory and Development Authority of India (IRDAI) one of the objectives of Insurance Information Bureau of India (IIB) is: "To generate benchmark rates for different Lines of Insurance Business including Life, Motor, Health, Marine, Fire and others on a periodic basis for promoting reasonableness and sustainability of Premiums in Insurance Business."
Ola Futurefactory to be run entirely by women
"We welcomed the first batch this week and at full capacity, Futurefactory will employ more than 10,000 women, making it the world's largest women-only factory and the only all-women automotive manufacturing facility globally," said Bhavish Aggarwal, Chairman and Group CEO. Built over 500 acres in Krishnagiri district of Tamil Nadu, the facility will roll out one scooter every two seconds at full capacity.
Jet Airways to start domestic ops from Q1CY22
Accordingly, the existing Air Operator Certificate (AOC) is under process for revalidation. In a statement, the consortium on Monday said it is working with relevant authorities and airport coordinators on slot allocation, required airport infrastructure, and night parking. Besides, the consortium said that Jet Airways will now be headquartered in Delhi NCR.
SpiceJet expects to start Boeing 737 Max ops by Sep-end
Accordingly, SpiceJet on Monday said it has reached a commercial settlement with CDB Aviation, a major lessor of Max aircraft. This will allow SpiceJet's 737 Max aircraft to return back to service. "This will add to already announced settlement with Avolon and grow its fleet of 737 Max aircraft," said SpiceJet in a statement.
MyFledge Group of Institutes bridges skill gap in Indian service sector, turns new career-oriented training provider
MyFledge Group of Institutes, since its inception in 2014, has built a fleet of institutions that empowers India's youth with 21st century skills. Pioneered in the heart of India's Silicon City, Bangalore, the group has specialized in Aviation and Hospitality skill based learning. In the past 7 years, MyFledge has actively trained and placed over 4500 students in Aviation and Hospitality as Cabin Crew, Pilots, and Customer Service at various Airlines and Airport companies.
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