Check out below to read the Top 5 Prime Business News of the Week in the NF World Latest News section. In this section, you can read the daily news and updates on Economy, Stocks, Industry and Cryptocurrency related Business News in the week.
The chairman of Tata Sons is now also the chairman of Air India
According to aviation industry reports, The board members of Air India selected N Chandrasekaran, chairman of Tata Sons as the chairman of Air India.
Tata Group won the bid to purchase debt-ridden state-run Air India last year with an offer of ₹18,000 crores.
Air India’s CEO and Managing Director (CEO&MD) are yet to appoint by Tata Sons.
According to sources, the airline’s board of directors approved Chandrasekaran’s nomination as chairman last week.
On February 14, the company announced that former Turkish Airlines chairman Ilker Ayci would be the CEO&MD of Air India.
On March 1, Ayci turned down the Tata Sons’ offer. Sources claimed that “certain elements of the Indian media” had sought to elaborate his appointment unfavourably.
PayTm share price crashes after RBI directs to stop new customer onboarding
Paytm fell more than 13% after the Reserve Bank of India (RBI) directed Paytm Payments Bank to halt new customer onboarding. And also conduct a comprehensive audit of its IT system, citing “material supervisory concerns.”
On the NSE, the stock plunged 13.30% to an all-time low of ₹672 per share. While on the BSE, it lost 13.25% to ₹672.10 per share.
The central bank stated in a statement issued after market hours, “Onboarding of new clients by Paytm Payments Bank Ltd would be subject to specific approval to be given by RBI after examining the report of the IT auditors.”
UPI123Pay: RBI launches new UPI app for feature phones
Shaktikanta Das, Governor of RBI, inaugurated the country’s most well-known universal payments interface (UPI) programme for feature phones. The application, known as UPI123PAY, would allow 40 crore feature phone users in India to utilise the payment service.
Previously, UPI was only available on smartphones in India. But with the recent announcement, feature phone users will also be able to make and receive payments.
In addition, the central bank developed DigiSaathi, a 24-hour hotline for digital payments.
The UPI123Pay service is a three-step process for initiating and executing services for customers that will function on phones that do not have an internet connection.
Tata Motors would deliver 101 EVs to Aurangabad city residents as a part of AMGM
According to some sources, Tata Motors plans to invest ₹15,000 crores in the EV industry over the next five years.
Tata Motors President for Passenger Vehicles Business Shailesh Chandra stated that the business, a leader in the newly growing EV category with options like Nexon, plans to create roughly ten additional new offerings in the segment.
Chandra said that they would present 101 EVs to city residents as part of the Aurangabad Mission for Green Mobility (AMGM).
Tata Group plans to introduce its new super app in IPL season
Tata Group is preparing to introduce its super app ‘Tata Neu’ in the Indian Premier League (IPL) cricket season. The app would bring together all of its key group assets, including BigBasket, 1mg, Croma, etc under one umbrella.
Over the past few months, Tata Group has been testing its super app with a large number of its employees.
Experts anticipate making an official statement about the app’s availability to users on April 7 during the next IPL season.