Business

[ad_1] MUMBAI: Bank lending to non-banking finance companies slowed sharply in April, with outstanding loans to the sector falling by Rs 25,512 crore to Rs 16.1 lakh crore. At the end of March 2025, bank credit to NBFCs stood at Rs 16.4 lakh crore, marking a modest growth of 5.7% in FY25.This was significantly lower than the overall bank credit growth of 11% during the year, to Rs 182 lakh crore, indicating a cooling in lending appetite toward shadow banks.The slowdown in credit to NBFCs was part of a broader trend. Lending to large industries also moderated in April. The share of loans to large corporates declined to 15% of total bank credit, down from 16% at the end of March 2024. In comparison, housing loans now account for a larger share at 16.6%, underlining the shift in bank lending […]

[ad_1] Goods and Services Tax (GST) NEW DELHI:Goods and services tax (GST) collections rose 16.4% to Rs 2,01,050 crore in May, the fastest pace of expansion since Oct 2022, on the back of a jump in taxes on imports.Latest data estimated that during May (for transactions in April), GST collections from imports rose 25.2% to Rs 51,266 crore, while the mop-up from domestic sources, which is almost three-fourths of the overall kitty, was 13.7% higher at just under Rs 1.5 lakh crore.Imports during April had shot up 19% to nearly $65 billion due to a spike in crude oil and fertiliser shipments, among other things. "A 16% growth in GST collections shows a renewed upward momentum after few months of growth in the range of 11% to 12%. If the growth continues in this range for next couple of months, […]

[ad_1] NEW DELHI: India’s aviation sector is witnessing strong growth, supported by enhanced connectivity, improved airport infrastructure, and emerging potential in sustainable aviation fuel (SAF) development, the International Air Transport Association (IATA) said on Sunday.Speaking at a media briefing during the World Air Transport Summit (WATS) in Delhi, Amitabh Khosla, IATA’s Country Director for India, Nepal & Bhutan, said, "We are also seeing significant increase in the airport infrastructure, so it gives a good foundation, a base on which India will build further."Khosla also pointed to India’s potential in Sustainable Aviation Fuel (SAF) production, citing the country’s standing as a major ethanol producer. "We understand from our discussions with some of the oil companies in the country that we are looking at India SAF production coming about in 2026," he said.India, he noted, has the capabilities to become a key […]

[ad_1] NEW DELHI: Housing sales in India’s tier-II cities witnessed a mixed performance during the January-March quarter of 2025, with a decline in volume but an increase in value, according to data from real estate consultancy PropEquity, as reported by PTI.A total of 43,781 housing units were sold across 15 tier-II cities in Q1 2025, marking an 8 per cent drop from 47,378 units in the corresponding period last year. However, the overall transaction value rose 6 per cent to Rs 40,443 crore, up from Rs 38,102 crore a year ago.The analysis covered cities including Ahmedabad, Surat, Vadodara, Gandhinagar, Nashik, Nagpur, Goa, Lucknow, Jaipur, Mohali, Visakhapatnam, Kochi, Coimbatore, Bhopal, and Bhubaneswar.Explaining the contrasting trends, PropEquity Founder and CEO Samir Jasuja said, “The lesser supply in March quarter resulted in lower sales in tier 2 cities. State capitals performed relatively better.” […]

[ad_1] NEW DELHI: The Reserve Bank of India's upcoming interest rate decision, along with key macroeconomic data releases and global market cues, will play a pivotal role in determining equity market movements this week, according to market analysts.Marking the opening for June, market sentiment will also be shaped by trading patterns of Foreign Institutional Investors (FIIs) and developments on the tariff front, according experts quoted by PTI. "Looking ahead, all eyes will be on the outcome of the RBI's Monetary Policy Committee (MPC) meeting scheduled for June 6. Additionally, with the new month beginning, participants will track high-frequency data including auto sales numbers and other economic indicators. Updates on the progress of monsoon and the trend in FII flows will also be closely monitored," said Ajit Mishra, Senior Vice President, Research, Religare Broking Ltd.He added that fluctuations in the US […]

[ad_1] Image used for representative purposes Air India announced its plans to reduce its reliance on Turkish Technic for the maintenance of its wide-body aircraft, redirecting operations to alternative Maintenance, Repair and Overhaul (MRO) facilities, according to CEO Campbell Wilson. The move comes in light of recent geopolitical developments involving Turkiye.In May, Turkiye voiced support for Pakistan and condemned India's anti-terror operations. In response, India’s Bureau of Civil Aviation Security (BCAS) revoked the security clearance of Turkish company Celebi Airport Services India Pvt Ltd on May 15, citing concerns over "national security".Subsequently, on May 30, the Directorate General of Civil Aviation (DGCA) granted a final three-month extension to IndiGo for operating two damp-leased Boeing 777 aircraft from Turkish Airlines. The extension is valid until August 31, with a directive to terminate the lease within that period.Also read: IndiGo confirms order […]

[ad_1] NEW DELHI: EY India Chairman and CEO Rajiv Memani has taken charge as the new president of CII, the move coming at a time when the govt negotiates a bilateral trade agreement (BTA) with the US while working out free trade agreements with other countries and regions.Memani takes over from ITC Chairman & MD Sanjiv Puri as CII president.R Mukundan, MD & CEO of Tata Chemicals, take charge as CII’s president-designate for 2025-26.Memani had established EY India’s market-leading corporate finance (now strategy & transactions) practice in the late 90s, and has been a member of several high-powered govt committees, including the Ministry of Finance’s taskforce that drafted a new Direct Tax Code in 2019.He is also a member of EY’s Global Executive Board as the Chair of its Growth Markets Council. He advises large Indian companies, private equity funds […]

[ad_1] The House-approved tax and spending reductions may increase the national debt by over $5 trillion during the next ten years if maintained. (AI image) US President Donald Trump is not finding it easy to convince multiple stakeholders, including the Republican senators and international investors that his ‘One Big Beautiful Bill’ won’t bury the US government in a huge pile of debt. So much so that one of his biggest supporters, Tesla CEO Elon Musk, has also expressed concerns about the impact of the multitrillion-dollar tax breaks package.Financial markets have responded with doubt, even as the Donald Trump administration continues to struggle to demonstrate effective deficit reduction strategies."All of this rhetoric about cutting trillions of dollars of spending has come to nothing — and the tax bill codifies that," said Michael Strain, director of economic policy studies at the American […]

[ad_1] NEW DELHI: IndiGo's CEO Pieter Elbers on Sunday addressed the Turkish Airlines agreement termination deadline of August 31 set by the government."This is the government's decision and we will comply with the government's decision. We have the coming month to find a solution for the customers which were booked," he said.Further talking about the airlines' action plan he added, "The extension helps us to have more time to get that addressed, and we'll look at how to address it and how to incorporate it. We still have time for the next few months to do that. "Also read: IndiGo confirms order for 30 more Airbus A350s, strengthens wide-body fleetThis statement comes just days after the DGCA issued a "one time last and final three-month extension" to IndiGo for operating two wide-body Boeing 777s wet-leased from Turkish Airlines. Instead of […]

[ad_1] IndiGo airlines announced on Sunday that it has placed a firm order for an additional 30 wide-body A350 aircraft with Airbus, bringing their total A350 fleet commitment to 60 aircraft.Following their initial firm order of 30 A350 aircraft in April 2023, which included an option for 70 additional planes, IndiGo has now confirmed orders for half of the optional aircraft.During a press conference in the national capital, IndiGo's Chief Executive Officer Pieter Elbers confirmed the conversion of 30 aircraft from their optional quota into a firm order.The carrier currently maintains an order book exceeding 900 aircraft, scheduled for delivery over the upcoming years.As India's largest airline strengthens its international presence, it plans to commence operations to 10 new international destinations using leased Boeing 787 aircraft during the fiscal year ending March 2026.Meanwhile, in a separate development, IndiGo, Delta Air […]