DGCA's new directive allows passengers to choose optional services, potentially reducing base flight ticket costs. Airlines must adapt pricing strategies and ensure child seat arrangements, affecting revenue management in the aviation industry.

EPFO increased interest rate to 8.25% for FY 2023-24 from 8.15%. Members inquire about credit date. ET reports interest credit for FY 2022-23. Check balance via UMANG app, EPFO portal, or missed call.

Indian banks will observe multiple closures in May 2024 for up to 14 days, covering various state-specific and national events, including Maharashtra Day, International Workers' Day, and Lok Sabha General Elections among others.

Mutual Fund KYC issues: Records of many investors, particularly old-timers who completed KYC using documents other than PAN or Aadhaar, could not be validated. As a result, these investors have been requested to redo their KYC.

The government has permitted the export of 99,150 metric tons of onions to six neighboring countries, including Bangladesh, UAE, Bhutan, Bahrain, Mauritius, and Sri Lanka. This decision follows the imposition of restrictions on onion exports to maintain sufficient domestic supply, given projections of reduced Kharif and Rabi crops for 2023-24 and heightened international demand.

ICICI Bank, the second-largest private lender in India, saw its market capitalisation surpass 8 lakh crore on Monday as its shares surged to a new 52-week high of Rs 1,155.65 on the NSE.

Leading companies in India are actively seeking Chief AI Officers (CAIO) to manage their AI operations and plan for the future. Job portals and headhunters are overwhelmed with requests for AI leadership roles. The demand for CAIOs is expected to grow rapidly in the next 18 months due to the increasing adoption of AI technology in businesses across various industries.

The Centre has asked Amazon and Flipkart to establish Open Network for Digital Commerce (ONDC) storefronts on their home pages to support the government-backed network in expanding operations and aiding with deliveries. ONDC is in active discussion with Amazon and Flipkart for phased participation, with results expected soon.

Indian Railways is making progress in setting up Gati Shakti Cargo Terminals to boost freight operations and revenue generation. The Gati Shakti Cargo Terminal is designed for non-passenger commercial purposes, such as freight, and is established under a new policy that facilitates the monetization of unused railway land.

BSE's 19% NSE drop due to SEBI's fee issue. Historical premium payment for derivative contracts. United Stock Exchange merged with BSE. Regulatory fees may amount to Rs 68.64 crore + GST.

NPS debt funds have also demonstrated superior performance compared to mutual fund debt schemes. In the previous year, the NPS Tier II Gilt and Corporate Bond funds have generated higher returns than the average long-duration debt fund and corporate bond fund.

Tesla has made significant progress in overcoming regulatory obstacles to launch its Full Self-Driving software in China, following Elon Musk's visit to the country. The collaboration with Baidu and compliance with data security requirements are key developments for Tesla's expansion in its second-largest market.

The yen sank to a new 34-year low past 160 per dollar on Monday after a forecast-beating US inflation reading dented expectations for US interest rate cuts this year. Markets appear to be trying to push dollar-yen towards 160 in the absence of official intervention, said Vishnu Varathan, at Mizuho Bank.

Private banks are experiencing a significant increase in information technology expenses as most transactions are now conducted digitally. Unlike the one-time capital expenses incurred when they migrated to core banking, IT is now becoming a recurring cost accounting for up to 10% of operating expenses. Bankers have responded to queries about their level of IT capabilities in light of the RBI action on Kotak Mahindra Bank freezing digital onboarding and issuing credit cards.

On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile. Li told Musk that China's huge market will always be open to foreign-funded enterprises.

On the International Day of Safety & Health at Work, the Federation of Seed Industry of India (FSII) reiterated its commitment to upholding the utmost safety standards for workers and operators involved in seed treatments, production, and distribution. The executive director of FSII assured policymakers and other stakeholders of the organisation's compliance with world-class safety protocols.

Tesla CEO Elon Musk met with Chinese Premier Li Qiang in Beijing on Sunday, where the official pledged that China would remain consistently open to foreign companies. Musk arrived in China earlier on the same day for his second visit in less than a year to the world's largest electric car market.

Jagdish Mitra, the former head of Tech Mahindra's business in India, has established an AI startup with an initial proposed investment ranging from Rs 65-80 crore. Operations for the startup are expected to begin within the next three months. We will start going to customers in 8-12 months. Initially, we will invest USD 8-10 million, Mitra told PTI.

Indian Railways is gearing up to commence trial runs of short-distance Vande Metro trains in July, alongside the launch of the sleeper version of Vande Bharat next month. The Vande Metro trains are slated to operate on routes spanning 100-250 kilometers, while the Vande Bharat Sleeper trains will be designated for routes exceeding 1,000 kilometers. Officials indicate that the Vande Metro trains will establish connections across approximately 124 cities.

Republic First Bank in PA, NJ, NY, seized by FDIC. Acquired by Fulton Bank. $667M cost, 1st US bank failure in 2022. Steven Mnuchin group injects $1B into New York community Bancorp.

China implements austerity measures like budget cuts and frugality campaigns to address economic challenges, redirect resources, and curb unnecessary spending. However, critics question the effectiveness of these measures in resolving long-term economic issues.

The Reserve Bank of India has updated its guidelines for web aggregators of loans to ensure that consumers get a fair and transparent deal. The RBI has also clarified guidelines on loss default guarantees that can be provided by fintechs to lenders on personal loans they distribute.

The Madras HC has asked RBI to carry out a valuation of shares and assets of DBS Bank India and Lakshmi Vilas Bank as on the date before their amalgamation in Nov 2020. RBI has been asked to take a fresh decision on reduction of the value of shares and writing off the tier-2 bonds, based on the fresh valuation, within four months.

RBI has outlined the eligibility criteria for small finance banks (SFBs) to become a universal bank. This transition will enable them to provide loans to larger businesses and offer the full range of financial services and banking products.

In a significant merger in the healthcare sector, wholesale pharma distribution company Keimed has merged with Apollo Health Co Limited (AHL), a subsidiary of Apollo Hospitals Enterprise Limited (AHEL). This takes the combined enterprise value of the two entities to Rs 22,481 crore. While Keimed is owned by the Apollo promoter's family, omni-channel healthcare platform AHL will leverage on the former's vast network.

The US Trade Representative has called India among the most challenging major economies on enforcement and protection of intellectual property rights (IPR) and retained it on Priority Watch along with China, Indonesia, Russia, Chile, and Venezuela. These countries will be the subject of particularly intense bilateral engagement during the coming year, USTR said in a report.

Maruti Suzuki on Friday reported its highest quarterly net profit as growing share of SUVs fueled its sales while ease in commodity prices helped margins. Consolidated net profit in Jan-March (Q4 of FY24) soared 48% to Rs 3,878 crore when compared with Rs 2,624 crore in the same period a year ago, the company said.

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.

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).

RBI's restrictions on Kotak Mahindra Bank impact new customer onboarding and credit card issuance, with uncertainties for existing customers. The ban's duration depends on an external audit and corrective measures satisfaction, potentially lasting six to twelve months.

Google's parent company Alphabet announced its inaugural dividend and a $70 billion stock repurchase, resulting in the stock price soaring by almost 16% after the market closed. The dividend amount per share will be 20 cents. Alphabet is returning capital while spending billions of dollars on data centres to compete with rivals on generative artificial intelligence (AI).

Individuals whose PAN became inoperative due to non-linkage faced higher tax deduction at source (TDS) or tax collection at source rates. For example, the TDS on house rent allowance for individuals with inoperative PANs increased to 20%.

Nestle India's net profit rose by 27% to Rs 934 crore in the March quarter, driven by strong growth across its product portfolio amidst challenges from food inflation and volatile commodity prices.

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Friday marking another day of positive run for Dalal Street. While BSE Sensex opened 100 points up, Nifty50 was above 22,600.