India's aviation regulator, the DGCA, issued a show-cause notice to Akasa Air for alleged lapses in its operations manual and non-compliance with safety regulations. This follows a recent spot check revealing maintenance issues and pilot concerns about management practices and training standards.
Related news
The National Highways Authority of India (NHAI) has pre-paid loans amounting to Rs 56,000 crore during the current fiscal year, resulting in an interest cost saving of around Rs 1,200 crore. The total debt of NHAI has reduced from Rs 3.35 lakh crore to approximately Rs 2.76 lakh crore.
Post Office Savings Schemes in India offer secure investment options with assured returns and tax benefits under Section 80C of the Income Tax Act. The schemes, including PPF, NSC, SSY, SCSS, and 5-year POTD, allow tax exemptions up to Rs 1.5 lakh per annum under the old tax regime.
The Indian rupee fell to a record low against the US dollar, crossing the 85 mark for the first time. This drop was influenced by the US Federal Reserve's indication of fewer-than-expected future rate cuts. While the decline makes imports costlier and benefits NRI remittances, its impact on export competitiveness is debated.
Employees in India can expect a 9.4% salary increase in 2025, driven by economic growth and high demand for skilled talent. The automotive sector leads with a projected 10% rise, while manufacturing and engineering follow closely. Voluntary attrition is anticipated to stabilize at 11.9%, and 37% of organizations plan workforce expansion to meet demand.
Venture capital fund Cedar-IBSi Capital forecasts USD 1 billion investment in India's BankTech sector by 2027, highlighting its role in achieving a USD 7 trillion GDP target by 2030. Founder Sahil Anand underscores digital transformation in banking, emphasizing technology's impact on financial inclusion. The fund plans to back 10–15 early-stage startups within this transformative sector.
The government proposes increasing the TDS threshold on rent from Rs 2.4 lakh to Rs 6 lakh annually as announced by Finance Minister Nirmala Sitharaman in her Budget 2025 speech. This move aims to reduce TDS transactions, offering relief to small taxpayers and simplifying compliance.
Microsoft CEO Satya Nadella meets PM Narendra Modi expressing appreciation for India's AI-first approach and discussing ethical AI use and data privacy. Nadella is on a tour in India to promote Microsoft's AI and cloud investments. Modi highlights partnerships with global AI leaders fostering innovation and regulation in India.
Gold prices soared to a record Rs 91,250 per 10 grams in Delhi, driven by strong buying from stockists and retailers, and heightened international market trends. Growing fears of a US recession and geopolitical tensions have boosted gold's appeal as a safe-haven asset. Meanwhile, silver held steady at Rs 1,02,500 per kg, reaching historic highs.
LTIMindtree's CEO designate, Venu Lambu, met with over 50 senior leaders in Mumbai, amid the departure of two senior executives. Lambu emphasized a focus on growth and AI strategy. Current CEO, Debashis Chatterjee, is assisting with the transition and plans joint client visits with Lambu in the US and Europe.
The rupee continues to weaken against the dollar, hitting a record low of 85.26 due to elevated dollar index levels and cautious foreign institutional investors. The currency struggles with recovery amid global economic uncertainties and domestic macroeconomic challenges, potentially facing further pressure despite RBI interventions.