Mandatory service charge 'unfair', Mum eatery told to refund amount

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TOI bags 6 awards for campaigns at INMA 2024

The Times of India has won big at International News Media Association (INMA) 2024, bagging six awards for its campaigns which blended ideas with creativity to spread awareness about issues affecting peoples’ daily lives, such as traffic safety and alternatives to single-use plastic. The INMA competition, which evaluates news media companies across two segments of national brands and regional brands, attracted 771 entries from 245 news media brands in 43 countries.

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Essel Homes, Primcomm face insolvency proceedings

The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency resolution proceedings against Essel Homes and Primcomm Media Distribution Ventures after Gnex Realtech defaulted on repayment of loans of nearly Rs 261 crore to Indiabulls Housing Finance. Essel Homes and Primcomm were the co-borrowers, and NCLT has appointed Ravi Prakash Ganti as the interim resolution professional (IRP).

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India’s first: Japanese Sharp looks to set up display fab unit

India is headed to bag investments for the country’s first display fab semiconductor unit – used for making televisions and other digital screens – with Japanese Sharp approaching the Central govt for setting up a 1,000-acres facility that will be used to cater not just to the domestic demand but also exports.

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Relief for lessors: Delhi high court directs DGCA to de-register 54 GoAir planes

The lessors of 54 aircraft to grounded-since-last May GoAir finally got relief on several counts from the Delhi high court on Friday which directed the Directorate General of Civil Aviation (DGCA) to de-register these planes within a maximum of five working days. The revival of GoAir under IBC is now an even tougher task as the lessors are learnt to be wooed by both Tata’s Air India and cash-rich IndiGo to get around 15 of the Airbus A320 family planes which could fairly quickly be made airworthy.

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ICICI blocks 17k cards over glitch

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Axis pips Kotak Bank as 3rd most valued private bank

Axis Bank overtook Kotak Mahindra Bank on Thursday to become India's third most valued private lender after a rout in the latter's stock. Kotak Bank's stock opened deep in the red on Thursday a day after RBI restricted the lender from onboarding customers digitally and issuing credit cards, citing repeated failures to fix "serious deficiencies" in its IT system.

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Vi got a new lease of life, says Birla

Aditya Birla Group chairman Kumar Mangalam Birla said the Rs 18,000-crore fund-raise has given Vodafone Idea a "fresh lease of life", and set the stage for a "smart turnaround". "Vi is not just a telecom company, it's a national asset with 215 million users and about 8,000 MHz spectrum," said Birla. Investors in Vodafone Idea made a 26% return within a week as the shares of the telecom services company, which were offered at Rs 11 apiece in an FPO, closed at Rs 13.9 on the BSE.

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AI inside most apps you use

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Infosys narrows revenue gap with Cognizant

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Tanker, insurance rates unmoved by Israel-Iran conflict

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How India's digital public infrastructure can push inclusive global growth

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RBI: Heatwaves, geopolitical tensions may stoke inflation

According to Tuesday's state of the economy report by the RBI, extreme weather events and persistent geopolitical tensions may contribute to inflation risks, while also potentially causing fluctuations in crude oil prices. The report highlighted a positive trend in real GDP growth, supported by robust investment demand and optimistic sentiments among businesses and consumers.

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TikTok has submitted risk assessment report on TikTok Lite to EU

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Startups raise $2 billion in Q4, 40% less than a year ago

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RIL's Q4 profit flat at Rs 21k crore, revenue rises 11% to Rs 2.4 lakh crore

Reliance Industries reported a nearly unchanged quarterly profit, while its revenue increased by 11% to Rs 2.4 lakh crore. This growth was driven by the robust performance of its oil & gas and oil-to-chemical (O2C) segments, as well as the rapid expansion of its retail and digital services (Jio) divisions. The company recorded a profit of Rs 21,243 crore in the fourth quarter of FY24.

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HDFC Bank CEO tells investors, gains to follow transition era

HDFC Bank CEO Sashidhar Jagdishan has urged investors to exercise patience during the bank's transition, likening it to the construction of Mumbai's coastal road. He assured that benefits would emerge in due course following this phase of transition. In an investor call following the bank's results, Jagdishan emphasized the bank's objective of securing the sustainability of its deposit franchise.

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TCS links variable pay to work from office

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'Post-Covid, 25% rise in Indians taking over 3 trips per year'

Indians are embracing travel and spending with unprecedented enthusiasm. Post-Covid, there's a 25% surge in those taking over three trips annually. Advance international bookings are back, replacing spontaneous travels of 2020-2021. These insights stem from MakeMyTrip's "India Travel Trends Report," drawing from the travel habits of over 100 million active users.

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EPFO added 7.8 lakh new members in February, 56% of them aged 18-25 years

In February, the Employees Provident Fund Organisation (EPFO), responsible for retirement funds, saw an increase of 1.55 million net members, with nearly 780,000 being new additions, according to recently released data. An important observation from the data is the prominence of the 18-25 age bracket, comprising a substantial 56.4% of the total new members in February. This suggests that the bulk of those entering the organized workforce are young individuals, mostly first-time job seekers, as stated in an official announcement.

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Worsening US debt outlook seen more in gold and bitcoin than in bonds

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Bitcoin's latest 'halving' has arrived: What you need to know

Bitcoin undergoes a process known as "halving," which gradually reduces the rate at which new bitcoins are generated, thereby limiting the overall supply. This method has systematically decreased the mining reward over time, aligning with the creator Satoshi Nakamoto's vision to cap the total number of bitcoins at 21 million.

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'Halving' arrives for bitcoin miners

The bitcoin market on Friday engineered the "halving" of the reward for operating the cryptocurrency, a much-anticipated step designed to limit production and boost the digital money. However, since the digital currency's launch in 2009, the reward has been halved for every 210,000 blocks in a process called halving.

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Tata Sons seeks IPO waiver from RBI after cutting debt

Tata Sons seeks RBI exemption post TCS stake sale to avoid IPO. Assets meet CIC criteria. Aims to deregister as CIC, sidestep RBI rules amid Cyrus Mistry battle.

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Iran-Israel conflict unlikely to hit oil supply

West Asia oil shipments remain stable amidst Israel-Iran tensions. Speculators influence Benchmark Brent prices. Opec's Hai Tham al-Ghais engages with India on oil imports. Potential disruption if Hormuz Strait blocked."}

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Hardeep Singh Puri discusses global oil markets with OPEC secretary general

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Infosys returns 1.1 lakh crore to shareholders in 5 fiscal years

Infosys returned Rs 1.1 lakh crore to shareholders in 5 years, equals $12.8B. Unchanged 85% distribution policy. 15 payouts made, Rs 80,000 crore through dividends. Investor receipt by FY24: Rs 377.5/share. Rs 26,800 crore returned via buybacks.

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'Green' Apple: Company to invest in solar projects in India

Apple invests in India production while focusing on green initiatives like rooftop solar projects. They advance water security, restore ecosystems, and provide clean drinking water through water kiosks in collaboration with local entrepreneurs.

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Vodafone Idea eyes fresh bailout to convert dues into equity

Vodafone Idea seeks govt aid for Rs 2.3 lakh crore dues, requesting payout conversion for efficient operations and investor confidence. CEO Moondra highlights the need for govt support to ensure sustainability and healthy competition, with equity installment conversion option available.

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Rupee hits new low of 83.54 per dollar as global tensions mount

Rupee closed at 83.54 against the dollar, Asian currencies weakened. Dollar index rose. Geopolitical tensions impact currency markets. Analysts predict RBI rate cuts delayed due to rupee fall.

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Tomorrow Capital invests in kidney start-up VitusCare

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Musk's satellite business Starlink gets in-principle government nod

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Now, private banks must seek CEIB clearance for high-value loans

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FY25 will be better than FY24: TCS CEO

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West Asia conflict may cast shadow on India, global economy

The recent escalation in tensions, particularly following Iran’s drone offensive, is causing concern among finance ministers and central bank chiefs. The primary impact is expected on oil prices, which surged to $92.2 a barrel, posing risks to global economic stability. In India, while pump prices may not immediately rise due to elections, increased oil prices could strain government subsidies and impact inflation and deficits.

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India a country with most business potential: Japanese printing giant Fujifilm

Fujifilm sees India as a high-potential market, considering R&D outsourcing and sustainability initiatives. The company discusses advanced commercial printing, multifunction printers, and cloud data management services, aligning with India's strategic importance for future growth.

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New versus Old regime: Does opting for the old income tax regime for TDS on salary make ITR processing, refunds easier?

Salaried individuals must carefully choose between old and new tax regimes for TDS on salary. Providing proofs for deductions is crucial, and genuine deductions are necessary for smooth ITR processing. Consistency between Form 16 and ITR is advised for seamless filing.

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'Bournvita confidence' jolted? No 'health drink' label on ecommerce sites

Government advises ecommerce platforms to remove Bournvita from health drinks category due to health concerns following a probe by the National Commission for Protection of Child Rights, impacting Mondelez brands like 5-Star, Cadbury, and Oreo.

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IMF greenlights further $360 million in Ghana aid

The International Monetary Fund on Saturday said it had validated a fresh tranche of aid of $360 million for Ghana as the country seeks to exit an economic crisis. The country has, along with other African states, also been hard hit by economic fallout from the coronavirus pandemic as well as the Russia-Ukraine war.

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Route Mobile public shareholders tender shares worth Rs 2,500 crore

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Beyond Tesla: Elon Musk, PM Modi to take up Starlink too

Tesla is not the only agenda when Elon Musk meets PM Narendra Modi, but figuring prominently in talks will be Starlink, the satellite communications business of his space company SpaceX. Musk's satellite internet venture has been trying for more than three years to get a licence in India, but has failed to pass govt scrutiny.

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Sensex falls 793 points as FPIs weigh Mauritius tax issue

Investor sentiment was impacted by tax treaty changes between India and Mauritius, leading to a 1.1% drop in Sensex. Nifty closed at 22,519. Various factors like US inflation, West Asia tensions, and FPI outflows contributed to market volatility. Foreign portfolio investors were net sellers at Rs 8,027 crore, which translates to nearly $1 billion from the stock market.

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Gold surges as Middle East tensions spur safe-haven rush

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Standalone health insurance business grows 2x industry's pace

Standalone health insurance companies outpaced general insurance growth in FY24, with an annual premium of nearly Rs 2.9 lakh crore. They offered high-value policies and expanded coverage, while new players entered the health insurance market.

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Worst is behind us, we have stabilised operations: Vistara CEO

Vistara CEO Vinod Kannan stabilised operations after disruptions due to inhumane rostering. The airline faces challenges like ATC delays, bird hits, maintenance issues, and integration heartburn. Despite setbacks, Vistara aims to maintain brand reputation and customer satisfaction.

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French carmaker Citroën begins export of electric vehicle made in India

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Small-cap mutual funds see outflows for first time in over 2 years

Small-cap schemes recorded a net outflow of Rs 97 crore in March, data released by industry body Amfi showed. Markets regulator Sebi's warning that there could be some 'froth' building in small and medium-cap stocks seems to have prompted investors to shift part of their money to other equity-oriented ones.

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US inflation picks up, raises rate concerns

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Hungry for returns, investors SIP on stocks

Retail investors surged on Dalal Street, with 15 crore demat accounts. Mutual fund folios reached 11 crore, while equity assets grew. SIPs rose to Rs 19,000 crore amidst foreign fund selloffs, supported by financialisation of savings and digitisation.

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Hyundai, Kia rope in Exide for EV battery

Hyundai and Kia collaborate with Exide Energy to localize EV batteries in India, focusing on lithium-iron-phosphate cells. The strategic move aims to pioneer domestic battery use in upcoming Indian EV models for market expansion.

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Tata co launches India’s 1st privately-built sub-metre resolution surveillance satellite

TASL & Satellogic launched TSAT-1A, India's first private sub-metre res earth observation satellite. It offers high-res images to Indian armed forces, surpassing Isro's resolution. The satellite, in an inclined orbit, received support from Indian authorities for permissions.

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