New Delhi: To boost transparency, RBI has mandated all banks and finance companies to provide borrowers a key facts statement that includes data on all fees and the annual cost of credit from Oct 1 besides basic loan information.  The statement should also provide details on the policy on recovery agents, contact details for grievances, and the likelihood of the loan being sold to others.

New Delhi: A state-of-the-art Submersible Platform for Acoustic Characterisation and Evaluation (SPACE) was inaugurated by Secretary, Department of Defence (R&D) and Chairman DRDO Dr Samir V Kamat at Underwater Acoustic Research Facility, Kulamavu in Idukki, Kerala on April 17, 2024. The SPACE, set up by the Naval Physical & Oceanographic Laboratory of DRDO, has been designed as a premier testing and evaluation hub for sonar systems destined for Indian Navy onboard various platforms i

Abu Dhabi: Indian Renewable Energy Development Agency Ltd. (IREDA) has inaugurated an office in GIFT City, Gandhinagar, specializing in the provision of Foreign Currency-denominated debt options which will significantly reduce the financing costs associated with Green Hydrogen and Renewable Energy Manufacturing projects, facilitating natural hedging, and thereby accelerating the country's journey towards a greener future. The strategic initiative was highlighted by Shri Pradip Kumar Das,

New Delhi: The fintech firm BharatPe officially has announced Nalin Negi as its chief executive officer. The respective move comes 15 months after Negi took charge as the company's interim CEO and chief financial officer, during a period of significant upheaval and transition. Under his leadership, BharatPe has recorded a remarkable 182% increase in revenue from operations in the financial year 2023.  Moreover, the company achieved its first Ebitda-positive month in October, showc

New Delhi: According to the rankings released by the Airports Council International (ACI) World recently for the busiest airports worldwide in 2023, Delhi's Indira Gandhi International (IGI) Airport has secured the tenth position, handling 7.22 crore passengers annually.  This holistic embark marks a significant progression from its 2019 ranking of 17th place, despite the challenges posed by the COVID-19 pandemic. IGI Airport has eventually reached rank, from 17th in 2019 to 10th

The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in FY 2023-24 with Indian taxpayers.  This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs). This marks the highest-ever APA signings in any financial year since the launch of the APA programme. The number of APAs signed in FY 2023-24 also represents a 31% increase compared to the 95 APAs signed during the preceding financial year. With this, the total number of APAs

The Reserve Bank has rolled out the draft guidelines to further bolster regulations on payment aggregators which is categorized at boosting the payment ecosystem. The circular draft also includes the physical point-of-sale activities of payment aggregators (PAs). According to the Central Bank,  given the growth in digital transactions and the significant role that PAs play in this space, the current directions on PAs are proposed to be updated and cover, inter alia, KYC and due diligence

Bharat Petroleum Corporation is set to lay a 35-km dedicated aviation turbine fuel (ATF) pipeline from its Piyala Terminal to the tank farm at the airport in Noida International Aiport (NIAL), Jewar in Uttar Pradesh. The Piyala terminal of BPCL is located in Faridabad, Haryana. The ATF pipeline work comes into action after NIAL and BPCL had entered into an agreement in February 2024 to meet its requirements. The pipeline will span over 34 km and further would be extended by 1.2 km wit

New Delhi: Air India, India’s leading global airline, and Bangalore International Airport Limited (BIAL) have entered into an agreement intended to develop Bengaluru as a premier aviation hub for southern India, to boost air travel connectivity to and from India over the next few years. The agreement marks a significant milestone in the Indian aviation industry. Air India (along with other Tata Group airlines – AIX and Vistara) and BIAL will collaborate to enhance international co

Kempegowda International Airport better known as Bengaluru International Airport has recorded to witnessed the highest-ever annual passenger traffic and cargo numbers, with a total of 37.53 million passengers traversing through its terminals and 4,39,524 metric tonne of cargo passing through the airport during the financial year 2023-24.  According to sources, the airport facilitated 32.86 million domestic and 4.67 million international passengers during this period.