Business News Updates

Banks shall undertake at least an annual review in respect of accounts, where there are no customer-induced transactions for more than a year.

Nearly half of all passenger vehicles (PVs) going from the assembly line to dealers were SUVs, which means more Indians are gravitating towards cars costing Rs 10 lakh or more.

The National Payments Corporation of India (NPCI) have instructed payment apps to deactivate inactive UPI IDs that have not been active for more than one year.

The gross GST collection for April-December 2023 now works out to Rs 14.97 lakh crore which represents a 12 per cent growth over the same period of the previous year.

Like this, the year 2023 happened to be a turbulent year in several sectors with major companies laying off over 2 lakh employees collectively.

One of the biggest drivers behind this divergence was disappointment in China's post-Covid recovery.

To date, during this financial year, the country has crossed $100 billion of electronics manufacturing with a major contribution of $44 billion by mobile phone manufacturing.

Reports say that the world’s richest man is set to arrive in India during the ‘Vibrant Gujarat Global Summit’ on January 10-12 as Gujarat.

In the next year, businesses will transform the way they measure performance and productivity to focus on outcomes like products launched or leads generated, instead of inputs.

"These instructions are expected to further strengthen the IO mechanism and in turn, the Internal Grievance Redress system in regulated entities apart from providing ease of compliance," the RBI said in a release.

Musk earned an additional $95.4 billion through Thursday's close, boosted by the success of Tesla and SpaceX, after losing $138 billion in 2022, according to the Bloomberg Billionaires Index.

As part of the commitment made in the Union Budget of 2018-19, the government aims to fix MSPs for all mandated crops at a minimum of 1.5 times the all India weighted cost of production to ensure fair returns for cultivators.

Fintech leader Paytm has laid off several hundred employees from its operations, sales and engineering team, according to reports.

In 2023, the Indian business landscape underwent a radical metamorphosis fuelled by a record-breaking M&A spree. The year witnessed a staggering 72 per cent increase in deal volume compared to 2022, according to Deloitte's findings.

The government has asked for reviews of insolvency cases as there are delays in admission of cases in insolvency courts, he explained.