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Cinemas concerned over Karnataka price-cap proposal, fear other states may follow suit
Economic Times
·
5m ago
Medial
The Karnataka government's proposal to cap movie ticket prices at Rs 200 concerns film exhibitors, fearing other states may follow, impacting revenues. Exhibitors argue this would affect tax income and discourage big-budget films, essential for multiplex profitability. While Karnataka's Film Exhibitors Association supports increased audience attendance, multiplexes like PVR INOX are cautious, citing financial impracticality. Analysts warn of limited service quality and technological investments, potentially hindering multiplex expansion across India.
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Cash may return as king as small vendors shun UPI - The Economic Times
Economic Times
·
25d ago
Medial
In Bengaluru, small vendors are reverting to cash payments over UPI due to GST notices, fearing tax scrutiny and potential eviction. This shift arises from confusion over digital payments being perceived as income. The GST law mandates registration for businesses exceeding certain revenue thresholds. Vendors and experts warn of misguided tax demands, as digital transactions may not fully represent business income. This trend could prompt other states to follow suit in seeking additional tax revenues.
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Kia India Announces Up to 3% Price Increase
Thehindubusinessline
·
1y ago
Medial
Kia India has announced a price increase of up to 3% on its mass models including Seltos, Sonet, and Carens from April 1. The decision is due to rising commodity prices and supply chain-related inputs. Despite the increase, Kia India plans to absorb a significant portion of the cost adjustment to minimize the impact on customers. The company has sold over 1.16 million units across India and overseas, with the Seltos being its best-selling model. Other manufacturers may follow suit and announce price adjustments in the coming months.
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Payment Aggregators Urge RBI To Ease KYC Verification Requirement For Merchants
Inc42
·
1y ago
Medial
Fintech startup Decentro and other industry players are expressing concerns over the Reserve Bank of India's (RBI) requirement of physical KYC verification for merchants. Decentro has requested the RBI to push back the requirement, with PhonePe, BharatPe, and Mobikwik expected to follow suit. Payment aggregators fear that the new guidelines will increase the time and cost of onboarding merchants, potentially leading smaller businesses to abandon their services. Some stakeholders suggest limiting physical KYC verification to high-risk merchants or adopting digital verification methods. The RBI has been tightening regulations in the fintech space in response to increased digital adoption.
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Govt issues advisory allowing use of personal two-wheelers as bike taxis; states to take final call - The Economic Times
Economic Times
·
1m ago
Medial
The Centre's revised guidelines now urge states to allow motorcycles as taxis through aggregators, following a ban by the Karnataka High Court. This move is welcomed by ride-hailing platforms, emphasizing the need for timely implementation. The guidelines suggest that states may permit personal motorcycles for taxi operations to reduce traffic congestion and pollution, offering affordable mobility and livelihood opportunities. States may also impose fees for authorizations, ensuring safety, security, and driver welfare.
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TCS sets the bar: Merges AI and cloud businesses to form Ai.Cloud
Livemint
·
1y ago
Medial
Tata Consultancy Services (TCS) has merged its artificial intelligence (AI) and cloud businesses into a new entity called Ai.Cloud. This move allows TCS to focus on innovation and client-centricity in the digital transformation space. Siva Ganesan, a TCS veteran, will lead the new unit. The consolidation aims to enhance efficiency and offer seamless integration of AI and cloud solutions to clients. TCS, a major player in the IT industry, closed FY24 with revenues of $29.1 billion. This strategic shift may influence other Indian IT companies to follow suit.
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Pharma companies may lose licence if drugs fail tests
Economic Times
·
1m ago
Medial
The Indian health ministry is proposing strict measures against pharmaceutical companies if their drugs fail quality tests, aiming to safeguard public health. Companies producing substandard drugs could face immediate suspension of product licenses. This comes amidst discussions with states and opposition from pharma lobby groups concerned about technical issues affecting drug quality. The proposal includes enhancing drug recall mechanisms and requiring corrective action plans before license reinstatement. The debate highlights challenges with government lab standards and compliance.
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Paytm crisis brings 30% market share cap plan back in focus
Economic Times
·
1y ago
Medial
The recent action taken by the banking regulator against Paytm Payments Bank has brought the proposal for a market share cap for UPI apps back into focus. Currently, PhonePe and Google Pay dominate the UPI market, but the troubles faced by Paytm could benefit these two players even more. The National Payments Corporation of India (NPCI) is expected to seek RBI's approval before allowing any migration of merchants or banking partners from Paytm to other UPI apps. This situation may further consolidate the market share of the top two players.
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Benefits for gig workers may trickle in before social security code launch
Economic Times
·
11m ago
Medial
The government may introduce social security benefits for gig workers ahead of the implementation of the Social Security Code. Some states have already implemented similar provisions in their local laws. The Ministry of Labour and Employment has approached aggregators operating gig work platforms to prepare for extending social security benefits. The ministry will also write to states to expedite the enrollment of platform workers on the e-Shram portal. States like Karnataka, Telangana, and Rajasthan are already offering health insurance and other benefits to gig workers. The NITI Aayog estimates that India's gig worker population will triple by 2029-30. Under the proposed policy, aggregators will contribute 1-2% of their revenue to a social security fund.
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Musk’s rivals fear he will target them with his new power
Livemint
·
8m ago
Medial
Elon Musk's transformation into a prominent figure in US politics has caused concern amongst rival CEOs, who fear his newfound proximity to President Trump could lead to his influence being used against them. In the wake of the election, Musk has become a frequent presence at Trump's Mar-a-Lago club in Palm Beach, Florida. Executives at Facebook and Google worry that Musk may push for more aggressive regulation of their companies, while Boeing is concerned that SpaceX's success could hinder their use of launch sites.
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US urges allies to bar firms from servicing key chipmaking tools for China
Economic Times
·
1y ago
Medial
The United States is urging its allies to prevent their domestic companies from servicing chipmaking tools for Chinese customers, as part of its ongoing efforts to hinder China's chipmaking capabilities. Export controls chief Alan Estevez stated that discussions were underway with allies to determine which components should not be serviced. This move comes as the US seeks to limit China's access to advanced chip technology, aiming to prevent its use for military purposes. The Biden administration previously imposed restrictions on American chipmaking tool shipments to China, convincing Japan and the Netherlands to follow suit.
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