BUSINESS
Bank of England unveils design of King Charles banknotes
In a statement, the central bank said the portrait of the King will appear on existing designs of all four polymer banknotes (5, 10, 20 and 50 pounds), with no other changes to the existing designs.The King's image will appear on the front of the banknotes, as well as in cameo in the see-through security window.
HDFC revises RPLR on home loans by 35 basis points
The HDFC said that it would increase its RPLR on housing loans by 35 basis points, on which its Adjustable Rate Home Loans (ARHL) are benchmarked. Earlier this month, the RBI had hiked repo rate by 0.35 per cent, from 5.9 per cent to 6.25 per cent. HDFC Ltd offers low home loan interest rates starting from 8.20 per cent per annum, the statement said.
Finance Minister says need to simplify refund process for depositors
Replying to a question by NCP member Supriya Sule during Question Hour in tnhe Lok Sabha on writing off of bad loans and their recovery and problems faced by depositors, Sitharaman said: "Unfortunately, the processes (of recovering money) are so layered that by the time justice is sought to be delivered, many of the small depositors are put to extreme difficulty. There is definitely a need to look at how we can simplify the process without denying justice."
Indigo tops with 55.7% market share, Vistara 2nd, AI 3rd in Nov
As per the data for November of aviation regulator DGCA released on Monday, Indigo carried 65.01 lakh air passengers during the month while Vistara carried 10.87 lakh. Air India was at third position with 10.63 lakh passengers and 9.1 per cent market share. Similarly, Go Air, with 8.70 lakh passengers, had a market share of 7.5 per cent during November.
Bad loans worth Rs 10,09,511 crore written off in last 5 years by banks: Government
The nation's largest lender, the State Bank of India (SBI) tops the list of top 10 banks with the highest amount of bad loans written off in 2021-22 alone, as per data provided by the Reserve Bank of India, Minister of State for Finance Bhagwat Karad told Congress member Deepak Baij in an oral response during Question Hour in Lok Sabha.
Global e-commerce revenue drops $250 bn in 2022
Supply chain issues, inflation, rising digital advertising costs, and changed consumer behaviour have all had their share in the first-ever e-commerce revenue drop, according to data presented by AugustaFreePress.com. The initial forecast from the 'Statista Digital Market Outlook' projected $380 billion more revenue in 2022 than a year ago.
Elon Musk poll reveals 57% people want him to step down as Twitter CEO
Only 43 per cent followers want him as Twitter CEO, a job that has created all sorts of problems for him. Musk started a poll asking users if he should quit as Twitter head and also assured that he will abide by the poll results. "Should I step down as head of Twitter? I will abide by the results of this poll," said the Tesla CEO.
Create regulatory frameworks to help companies innovate: Pichai to Vaishnaw
Stressing that the country is going through a key period of time during digital transformation, Pichai vouched for an open and connected internet.
India's GDP to grow 7% in FY23: Acuite
In a report, Acuite said India's annualised GDP growth in Q2 FY23 expectedly, expanded at a slower pace of 6.3 per cent year-on-year (YoY) as against 13.5 per cent in Q1 FY23, the latter led by the easing of favourable base impact created by the second Covid wave in the previous year.
Spike in cesses, surcharges in Gross Tax revenue, 8.16 % in 2011-12 to 28.08% in 2021-22
The Ministry said that a major reason is the imposition of GST Compensation Cess, which is entirely used for payment of compensation to the states and flows to states as Grants-in-Aid, in their Receipts Budget. Resources from the other cesses are allocated to different schemes and programmes in the Union Budget, which are implemented by the states and other implementing agencies.
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