West Bengal CM Mamata Banerjee criticized how the opposition INDIA bloc is being run and said she's ready to lead it if given the chance. She believes her leadership could help the bloc function more smoothly and unite its members. This came after Trinamool MP Kirti Azad suggested she should be the head of the bloc, but Congress rejected the idea.
Paytm's parent company, One97 Communications, has approved the sale of its stake in PayPay Corporation, a digital payments company in Japan. The deal, which still needs corporate approvals and other conditions to be met, will boost Paytm Singapore’s cash balance. After the announcement, Paytm’s stock saw a big jump, and the company recently reported a strong profit for the second quarter of 2024.
PMI Electro Mobility has signed an agreement to supply 250 electric buses to Brihan Mumbai Electric Supply and Transport Undertaking. These 12-meter, air-conditioned buses will improve travel in Mumbai, cutting down on carbon emissions and diesel use. The buses will start arriving in FY26. PMI currently runs over 1,700 electric buses in 31 cities across India.
Union Minister Nitin Gadkari shared his hesitation to visit Delhi because of the city's extreme pollution, which affects his health. He criticized the air quality, saying it makes him feel sick and forces him to practice yoga before his trips. Gadkari also spoke out about the need for alternative energy sources to reduce India's dependence on fossil fuels, tackling both environmental and economic issues.
The market downturn in October-November 2024 has reduced NPS equity scheme returns to 26.6%, down from nearly 40% in September. Despite a significant drop in benchmark indices, overall NPS assets grew to ₹13.55 lakh crore. Private sector NPS assets showed strong growth, outpacing the government sector. The rising popularity of NPS as a retirement savings tool is evident from a 21.5% increase in private sector subscribers.
Myntra is rolling out its 30-minute fashion delivery service, M-Now, in Bengaluru and plans to expand to Delhi, Mumbai, and Pune. This quick delivery trend is growing as shoppers want faster online shopping, especially for fashion. Myntra will increase its range from 10,000 to 100,000 styles, including brands like Vero Moda and Tommy Hilfiger. While some analysts doubt if fast fashion delivery will work, Myntra sees it as a long-term investment.
India is on high alert after reports that Bangladesh has placed Turkish-made Bayraktar TB2 drones near its border with West Bengal. The drones, used for surveillance, are part of Bangladesh's efforts to deal with growing terrorist activity and political instability. While Bangladesh says the drones are for defense, India is worried about the potential risks, especially with rising border tensions and the threat of terrorist infiltration.
ICICI Bank confirmed that Maharashtra GST authorities searched three of its offices on December 4, 2024. The bank is fully cooperating with the investigation. The searches are being carried out under sections 67(1) and 67(2) of the Maharashtra GST Act, 2017. The bank had recently reported strong financial results for Q2 FY 2024-25, showing significant growth in profits and loan portfolios.
EPAM, a digital transformation company based in the US, has opened its third office in Pune, India, marking another step in expanding its operations in the country. This new office follows the company's earlier expansions in Bengaluru and Chennai. EPAM's workforce in India has grown to nearly 9,600 employees. The Pune office will focus on offshore development centers, serving clients in industries such as banking and financial services. EPAM expects to continue growing in India and aims to have 10,000 employees by Q1 2025.
Airlines are facing higher costs and delays due to ongoing supply chain issues, which are impacting their ability to meet sustainability goals and provide smooth service. Although passenger traffic has bounced back, shortages in spare parts and longer maintenance times are forcing airlines to keep older planes longer and reduce some services. These challenges are pushing up costs and leading to market share losses, with more delays expected for at least two more years.