BUSINESS

Among the UPI app players, PhonePe, Google Pay, and Paytm emerged as the prominent contenders in terms of both volume and value. By December 2023, these three apps collectively represented a substantial share of 95.4 percent in transaction volume, a slight increase from 94.8 percent in December 2022.

This upward adjustment in India's economic growth forecast to 7.5 percent for 2023-24 is attributed to the robust performance observed in both the services and industry sectors in South Asia, as highlighted in the World Bank's recent update.

In a recent statement to IANS, Byju's addressed the ongoing situation, attributing it to the final stages of a restructuring initiative set in motion back in October 2023. This initiative aims to streamline operational structures, trim costs, and enhance cash flow management within the organization. Despite these efforts, the company still grapples with unsettled salary payments for its employees in March.

This surge was predominantly fueled by a notable uptick in GST collection from domestic transactions, soaring by 17.6%. Such a surge indicates a heightened level of economic activity during the month. The GST revenue, excluding refunds, amounted to Rs 1.65 lakh crore in March, showcasing a robust growth of 18.4% compared to the corresponding period last year.

The decision to withdraw Rs 2,000 denomination banknotes from circulation was announced by the RBI on May 19, 2023.

These bonds comprise three categories: firstly, the "7.33 per cent Government Security 2026" will be offered for a set amount of Rs 6,000 crore via a price-based auction employing the multiple price method. Secondly, the "New Government Security 2034" will be available for Rs 20,000 crore through a yield-based auction also utilizing the multiple price method. Thirdly, the "7.25 per cent Government Security 2063" will be up for sale for Rs 12,000 crore via a price-based auction employing the multiple price method, as stated by the Finance Ministry in an official statement.

Modi emphasized India's youthful demographic advantage and the government's efforts in diversifying the economy by opening up sectors such as green energy, digital technology, defense, MSMEs, space, and tourism. He urged the RBI to craft innovative policies to cater to the aspirations of the youth and nurture these burgeoning sectors.

Insiders familiar with the matter anticipate that the number of cancellations may rise, with projections indicating that up to 70 flights could be affected by Tuesday. A spokesperson for Vistara acknowledged the significant disruptions experienced in recent days, attributing them to various factors such as crew unavailability.

The EU and G7 initiated the ban on imports of Russian-origin diamonds through third countries in early March as part of sanctions against Moscow in response to its invasion of Ukraine. Jaishankar expressed the government's determination to delay, soften, or ideally prevent the ban altogether, considering it a critical issue. He reassured that efforts would be made to find a resolution in the upcoming days.

In a clarification posted on X on Sunday, the Ministry emphasized, "It has come to notice that misleading information related to the new tax regime is being spread on some social media platforms. It is therefore clarified that: There is no new change which is coming in from April 1, 2024."