BUSINESS
Certificates of deposit issuances fell 38% on-month to Rs 51,240 cr
"In the month of June, the banks have borrowed heavily amounting to Rs 83,000 crore through CD issuance. However, we saw a dip in the month of July. Possibly the market must have reacted to volatile yield movements due to external factors," said Venkatakrishnan Srinivasan, founder and managing partner at Rockfort Fincorp, a Mumbai-based debt advisory firm.
IndiGo to reinstate pilots' salaries
"Despite the fuel and foreign exchange costs remaining prohibitive, we are hopeful that we will continue to inch our way back to profitability and higher growth. Our aim has been to constantly revisit our salary and remuneration and reinstate them to pre-Covid levels," said the statement attributed to the airline's senior vice president of flight operations, Capt. Ashim Mittra.
Air India to allow its pilots to fly till 65 years
Considering future expansion plans for our fleet, it is imperative to meet our workforce requirement for pilots. DGCA ((Directorate General of Civil Aviation) allows pilots to fly till the age of 65 years, compared to Air India retirement age of 58 years. Allowing pilots to fly till the age of 65 is a practice followed by most airlines in the industry, said the airline's internal document issued on July 29.
BMW recalls some 2022 electric cars over battery fire risk
BMW has issued a recall for some of its electric cars as the high voltage battery "may have internal damage", which can result in an electrical short circuit. The recall notice has been issued for a "small number" of 2022 i4 sedans and iX SUVs due to the risk of battery fires. According to the US National Highway Traffic Safety Administration (NHTSA), a short-circuit in a high voltage battery increases the risk of a fire.
'If rupee continues to be under pressure, RBI may look at alternate measures'
Rahul Singh, Senior Fund Manager � Fixed Income, LIC Mutual Fund Asset Management Ltd, said that if the rupee continues to be under pressure, the RBI may look at alternate measures. The recent fall in 10-year US yield and dollar index may also have provided some respite for the time being.
Essar strikes landmark supply deal with Liverpool airport
The new access agreement will allow Essar to supply fuel directly to airlines at the wingtip and marks another step in Essar's growing aviation fuels business, as air travel continues to recover from the effects of the pandemic.
Factors leading to rise in inflation in India
Retail inflation tracked by the Consumer Price Index (CPI) measures the changes in prices from a retail buyer's perspective. The CPI Inflation has been rising since September last year and remained above upper tolerance band of the Reserve Bank of India (RBI) for straight six months starting from January this year. CPI numbers has seen a sharp rise in April at 7.79 per cent, followed by 7.04 per cent in May this year.
Indian auto industry accelerating, shows robust July numbers
The commercial vehicle's sector maintained robust growth momentum, driven by strong demand in both passenger and cargo segments, said Emkay Global Financial Services. Similarly, the passenger and two-wheelers makers also showed growth owing to higher production and inventory build up with dealers in the run-up to festive season, Emkay Global said.
Powered by strong Q1 growth, ITC stock hits a three-year high
On Monday, Sanjiv Puri led ITC reported a 38 per cent year-on-year (YoY) growth in its consolidated net profit which stood at Rs 4,169 crore, as compared to Rs 3,013 crore last crore. The company's net sales too saw a 41 per cent spike and stood at Rs 18,164 crore, while EBITDA was up 41.5 per cent on Y-o-Y basis. According to ITC, a strong performance by all business segments is responsible for the Q1 growth.
Your Handbook of the Best Saving Plan in India: Invest Wisely
Financial security is one of the essential parts of living, whether it is your present or your retirement life. An insurance plan such as an endowment plan could be an excellent investment choice, and it is one of the best saving plans in India if your goal is to be financially stable in the present and future.
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