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INDUSTRY

INDUSTRY

Domestic air travel became costlier on August 12 this year as the Civil Aviation Ministry had raised the lower as well as upper caps on fares by 9.83 to 12.82 per cent.

Lower, upper limits on airfares to remain for 15 days at any given time: Aviation Ministry

Sep 18, 2021

India had imposed lower and upper limits on airfares based on flight duration when services were resumed on May 25, 2020, after a two-month Covid-triggered lockdown.

The carriers have been operating 72.5 per cent of their pre-Covid domestic flights since August 12.

Aviation ministry allows airlines to operate 85% of pre-COVID domestic flights

Sep 18, 2021

The ministry issued a fresh order on Saturday, in which it modified the August 12 order stating that "72.5 per cent capacity may be read as 85 per cent capacity".

Nasscom said it has been advocating this issue for the last 2-3 years

Nasscom welcomes GST Council's clarification on scope of 'intermediary services'

Sep 18, 2021

Nasscom also welcomed the decision of the Council to clarify that subsidiaries or group companies will be treated as separate entities and be eligible for export status for exports to their foreign parent companies/group companies

Finance Minister Nirmala Sitharaman says transport of export goods by vessels and air has also been exempted from GST

IGST on import of aircraft, other goods on lease exempted from double taxation

Sep 17, 2021

Finance Minister Nirmala Sitharaman says it'll facilitate domestic industry and aviation sector, and will allow transfer of goods imported under lease without payment of IGST

RRLR is linked to the RBI's repo rate, but the effective RLLR interest rate depends on multiple factors. Photo: Reuters

Punjab National Bank cuts RLLR to 6.55%

Sep 17, 2021

The repo linked lending rate has been reduced from 6.80 per cent to 6.55 per cent, with effect from September 17

Biocon will have access to 100 million doses of Serum's vaccines annually for 15 years

Biocon-Serum alliance to build a global biotech powerhouse, say Kiran Mazumdar-Shaw, Adar Poonawalla

Sep 17, 2021

Speaking at a press conference today, they said the synergistic future oriented deal will help growth of both companies

For established financial institutions the warning signs are flashing.

Challenge for banks as outsiders Amazon, IKEA crack the finance code

Sep 17, 2021

From Mercedes and Amazon to IKEA and Walmart the global brands are using software from tech startups to offer several banking services to customers.

Airtel

Airtel hikes prices of plans offering Disney+Hotstar subscription.

Sep 17, 2021

Price rise in prepaid and Broadband plans came after the changes made by the entertainment app.

Biocon Biologics, Serum Institute Life Sciences enter strategic alliance

Biocon Biologics offers 15% stake to Serum Institute Life Sciences

Sep 17, 2021

The alliance will also develop antibodies in order to target diseases such as dengue, HIV etc. Both companies will enter Service Level Agreements (SLAs) for manufacturing and distribution of these vaccines and antibodies

Bharti Airtel Chairman Sunil Bharti Mittal

Sunil Mittal suggests tarrifs must go up; calls for improvement in GST, licence fee

Sep 16, 2021

Telecom reforms will spur growth, and have paved the way for all players to come together and work as a team to unleash India's telecom dream, Mittal said

BHEL, in a statement, said that with its unique state of the art design, the project is an engineering marvel

BHEL commissions India's largest 25 MW floating Solar PV plant

Sep 16, 2021

Located in NTPC Simhadri in Andhra Pradesh, the 25 MW floating SPV project covers an area of 100 acres, leading to saving of valuable land resource and conserving water by reducing evaporation