Russia and the US cut crude oil exports to India due to increased domestic needs.
India’s digital payment landscape is undergoing a significant transformation, with indigenous platforms like the Unified Payments Interface (UPI) and RuPay gaining prominence. This shift is impacting the market share of global payment giants Visa and Mastercard. Rise of UPI and RuPay UPI, launched in 2016, has become a dominant force in India’s digital payments
China has announced an ambitious plan to construct a space-based solar power station, aiming to generate energy levels comparable to the Three Gorges Dam. This initiative involves deploying a massive solar array, approximately one kilometer wide, in geostationary orbit 36,000 kilometers above Earth. The project is expected to collect solar energy continuously, unaffected
The Finance Ministry has approached the Supreme Court seeking clarification regarding the issuance of tax notices to online gaming companies. This exclusive development was first reported by CNBC-TV18, highlighting the government’s efforts to resolve ambiguities in the Goods and Services Tax (GST) framework for the growing online gaming sector. Key Issue: Tax
India witnessed record-breaking progress in renewable energy in 2024, adding 24.5 GW of solar capacity and 3.4 GW of wind capacity. These additions represent a significant leap in the country’s clean energy transition. Solar Energy Breakthrough The solar sector led the renewable energy expansion, with India achieving its highest-ever annual capacity addition of 24.5 GW.
The Indian government has unveiled a new credit guarantee scheme designed to provide collateral-free loans up to ₹100 crore to Micro, Small, and Medium Enterprises (MSMEs). This initiative aims to facilitate capital investment in the manufacturing sector, enabling MSMEs to acquire machinery and equipment without the need for collateral or third-party guarantees. Key
The Reserve Bank of India (RBI) has significantly increased its gold acquisitions, positioning itself as the second-largest gold buyer among central banks worldwide in 2024. This strategic move underscores the RBI’s efforts to diversify and bolster the nation’s foreign exchange reserves. Significant Increase in Gold Reserves In the first half of 2024, the RBI
The All India Bank Officers’ Confederation (AIBOC), representing a significant number of bank officers across the country, has announced plans to initiate a two-day nationwide strike. The proposed industrial action is in response to prolonged delays in wage revisions and other unresolved issues concerning bank officers. Key Issues Leading to the Strike Wage Revision
Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai has achieved the prestigious Level 4+ Airport Customer Experience Accreditation from Airports Council International (ACI). This makes it the first airport in India and only the third in the world to receive this distinguished recognition. A Landmark Achievement in Airport Service The ACI Level 4+
Leading international alcohol producers, such as Diageo, Pernod Ricard, and Carlsberg, are collectively seeking approximately $466 million in outstanding payments from the Indian state of Telangana. This financial dispute underscores the challenges faced by liquor companies operating within India’s state-regulated alcohol market. Background of the Dispute In India,
