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< Back Uber to start bus shuttle services in Delhi 20 May 2024 It received the license under the Delhi government’s Premium Bus Scheme, an app-based bus aggregator scheme launched in November 2022 to encourage the upper middle class to choose public transport. Uber became the first aggregator to receive a license from the Delhi transport authority under the Premium Bus Scheme. The company can run shuttle bus services in the national capital region. The app allows users to book seats in the bus up to seven days in advance and track live location, bus route, and expected arrival time. The company ran a pilot programme for Uber Shuttle last year in Delhi-NCR and has been operating in Kolkata since 2023 under an MoU with the West Bengal government. Uber Shuttle will connect Delhi’s commercial and residential areas. Operated by local fleet associates, these buses will seat 19-50 people. India is the second country after Egypt, where Uber launched the bus shuttle service. The Premium Bus Scheme allows private operators to operate AC luxury buses with seating for at least nine people. The buses offer WiFi, CCTV, GPS, panic buttons, and reclining seats. Previous Next

< Back Iran-Israel War: Indian oil imports, exports to EU impacted 16 Jun 2025 The Middle Eastern war entered Day 4 with neither Iran nor Israel ready to back down. An Israel-Iran war can impact the Indians present in the two fighting nations and the Indian economy. India has strong relations with two countries as energy partners. India imports 85% of its crude oil. Disruptions in the Middle East, especially the Strait of Hormuz, which carries 20% of global oil trade, could hike prices. Along with the Red Sea, this route carries Indian exports to Europe and Russia. India doesn’t directly import oil from Iran. Still, the impact was visible in the Sensex, which dropped 573 points on Friday when Israel launched ‘Operation Rising Lion’ against Iran’s key military figures and nuclear infrastructure. Crude oil prices spiked by 8% on Friday. Using the Cape of Good Hope adds around 20 days per trip and USD500-1,000 per container, thus leading to a 50% hike in overall logistical costs. Around 20,000 Indians are in Israel, and 10,765 are in Iran, including students. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back All credit card payments to pass through Bharat Bill Pay from July 1 21 Jun 2024 Bharat Bill Payment System (BBPS) is an integrated bill payment system backed by the Reserve Bank of India (RBI). Banks can register with BBPS as Agent Institutions (AIs) to use its interoperable and accessible bill payment services. RBI directed all credit card payments to be done through the BBPS after June 30th. However, only eight out of 34 banks with the permit to issue credit cards have registered on it. HDFC Bank with 20 million credit cards, ICICI Bank with 17 million, and Axis Bank with 14 million, are yet to register. This can significantly impact fintech players like PhonePe, Cred, Infibeam Avenues, and BillDesk as they will not be allowed to process credit card payments after June 30th. Among those who have registered are the SBI Card, Bank of Baroda, IndusInd Bank, Kotak Mahindra Bank, and Federal Bank. The industry players have petitioned via the Payments Council of India seeking a 90-day extension. BBPS is a one-stop portal run by the National Payments Corporation of India (NPCI). It facilitates utility payments and repetitive payments for insurance premiums, credit cards, and mutual funds. Previous Next

< Back Traditional BFSI companies ready to launch super apps for financial services 28 May 2024 Aditya Birla Capital, Muthoot Fincorp, and Angel One are following in the footsteps of Amazon Pay and Tata Neu to create a super app. Traditional banking and financial services companies like Angel One, Muthoot Fincorp, and Aditya Birla Capital are developing a one-stop app for all financial services. They are partnering with fintech startups or creating their platforms for the app. Aditya Birla launched its omnichannel D2C platform, Aditya Birla Capital Digital, last month. It offers 22 financial services, like UPI payments, bill payments and digital transactions, loans and investments, portfolio consolidators, personal finance, and expense management tracking tools. Muthoot Fincorp One, launched in August 2023, offers gold and MSME loans, insurance, utility and loan payment options, and investment products like digital gold and non-convertible debentures (NCDs). The Angel One superapp is in beta testing and offers online trading, and investment options in direct mutual funds, NCDs, and sovereign gold bonds. Recently, Tata Neu’s C-Suite has been upgraded. The company plans to revamp Neu super app, improve Neu Pass, and introduce new financial products. Previous Next

< Back Safran opens world’s largest LEAP engine MRO facility in Hyd 27 Nov 2025 It is a €200 million investment, expected to create 1,100 jobs. Prime Minister Narendra Modi inaugurated French aerospace and defence major Safran’s CFM LEAP engine maintenance, repair and overhaul (MRO) facility in Hyderabad on Wednesday. Safran invested €200 million in setting up the 45,000 sqm facility at GMR Aerospace and Industrial Park – SEZ. It will be able to serve 300 CFM LEAP engines for civil aircraft and will have a next-gen test bench, creating 1,100 highly skilled jobs at full capacity. Safran’s MRO setup will also power the M88 military engine MRO used in Rafale jets. This facility, built for ₹400 crore, will have a capacity of 600 engine modules per year and employ 150 people. This is the first global OEM deep-level servicing MRO facility, and the largest in the world. 85% of MRO work has always been done outside India, making it expensive and time-consuming and leaving aircraft grounded for prolonged periods. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes mystery. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back MapmyIndia offers tough competition to Google, Apple Maps 22 Jul 2024 The New Delhi-based company has been mapping India for 30 years and has covered 5.8 lakh villages and 7,268 cities till now. After three decades of covering over 10.77 Points of Interest (POI), MapmyIndia secured a contract with Hyundai and Kia Motors’s OEM business in January 2024 to provide map and connected services for the next five years. Ola Cabs launched its mapping service Ola Maps, which is expected to save the company ₹100 crore annually. It is offering local developers one year of free subscription. The subscription is free for three years for SMEs and startups using the ONDC platform. In response to this move and to undercut MapmyIndia’s revenue stream, Google Maps reduced its pricing for developers by 70%. It is offering a 90% discount to developers who collaborate with the Open Network for Digital Commerce (ONDC) Among many applications, developers embed maps into their mobile or website apps, use them for routing in logistics or delivery apps, and geocoding, which means converting addresses into geographic coordinates and vice versa. Previous Next

< Back Adani’s US indictment impacting long term investor sentiment 27 Nov 2024 A New York court accused the Adani Group of allegedly bribing Indian government officials. A New York Court of Justice announced charges against several top executives of the Adani Group for allegedly offering bribes to Indian government officials in a project involving the development of a major solar power plant. The US Securities and Exchange Commission (SEC) accused the conglomerate of raising more than $750 million from investors and $175 million from US investors during this scheme. All this while, Azure Power was also trading on the New York Stock Exchange. Accused are Adani Group’s board members Gautam Adani and his son Sagar Adani; Vneet S Jaain, MD and CEO of Adani Green Energy; and Cyril Cabanes from Azure Power. Adani Group recently secured a USD1.36 billion syndicate loan from eight global banks, mentioned in the current indictment. Adani’s long-term investors have expressed concern about investing further in the group. General sentiment may also prevent other Indian corporations from raising debt from global investors. Previous Next

< Back India, UK, EU stop postal deliveries to the US 28 Aug 2025 The US is suspending the de minimis exemption as of August 29th. The American de minimis exemption allowed duty-free entry of packages worth less than $800. With this, the US government aims to curb cheap imports. However, the US postal services have not welcomed this sudden change, as it has left them unprepared for the drop in imports. India, the UK, and several European nations have refused to send small parcels to the US in the absence of proper clarity on import duties. Airlines from these nations have also declined to carry packages to the US. The de minimis exemption was introduced in 1938, when the US allowed free entry for goods valued at $1 or less. In the 1990s, Congress considered it a trade facilitation tool instead of an efficiency booster. In 2016, the limit was raised from $200 to $800. de minimis shipments to the US jumped from 153 million in 2015 to over one billion in 2023. Check out my new book, THE BLACK FLAMES, on Amazon Kindle. Previous Next

< Back Foreign companies prepare for a lawsuit against GST evasion notices 23 Sept 2024 Online Information and Database Access or Retrieval (OIDAR) covers online services with or without a physical user interface and is subject to an 18% tax slab. OIDAR services were GST-exempt until an amendment took effect in October 2023, which made foreign companies liable to pay the tax. The revised law mandated that companies were liable to pay GST irrespective of the level of human intervention in rendering their digital services. As per the law, foreign organisations must register in India and pay GST to offer their services to Indians. The Directorate General of GST Intelligence (DGGI) issued tax evasion notices for the period between 2017 and 2023 to 70 foreign companies for providing OIDAR services in India. These companies include Meta, Netflix, Spotify, and Google across subscription-based services, advertising, online gaming, and edtech. The companies argue that their services involve human intervention and can be delivered offline, which was GST-exempt before the amendment. Online training and exam platforms say their services are not covered under OIDAR. They will soon file the case in the high court. Previous Next

< Back Zepto targets ₹10,000 cr sales, profitability within one year Ishita Nigam 11 Oct 2023 The quick commerce platform became the first unicorn of 2023. It aims to turn profitable within 10-12 months and go public after that. Quick commerce platform Zepto, which launched operations in 2021, aims to achieve ₹10,000 crore in sales and profitability in the next 12 months. It plans to go public after that to become the youngest Indian company to do so within five years of launch. Zepto raised $200 million in fresh capital at a $1.4 billion valuation in August to become the first unicorn of 2023. It plans to expand its store count by 40% in existing markets and launch fresh offerings like Zepto Café to deliver snacks and beverages from its dark stores within 20 minutes. It has tied up with quick service restaurants like Blue Tokai Coffee Roasters and Chaayos for serving fast meals. Started by 21-year-old Aadit Palicha and Kaivalya Vohra, Zepto operates in 7 cities from 220 dark stores. Earlier this year, it launched the Zepto Bloom app for farmers to facilitate direct produce sales from farmers. Previous Next

< Back Aditya Birla Chemicals to set up manufacturing in Texas 27 Jun 2024 The group’s chemical arm will invest $50 million in setting up a manufacturing, application development centre, and R&D facility in Beaumont, Texas. The group’s chemical arm will invest $50 million in setting up a manufacturing, application development centre, and R&D facility in Beaumont, Texas.Aditya Birla Chemicals, Thailand, will invest USD50 million in setting up a manufacturing arm in Texas through its wholly-owned subsidiary, Aditya Birla Chemicals (USA) Inc. The facility will produce advanced materials like epoxy resins for consumer industrial applications and customised speciality products and help the company capture a larger share of the US's $2 billion epoxy solutions market. Aditya Birla Group is the largest Indian investor in the US, with $15 billion invested in Birla Carbon in Georgia, and Hindalco Industries-owned Aleris Inc. and Novelis Inc. The 35-acre facility will begin operations within two years. It will create at least 32 new full-time jobs and support epoxy production with sustainable solutions. Aditya Birla will enable its customers in renewable energy, construction, aerospace, and automotive to leverage the opportunities created by the Inflation Reduction Act, which mandates clean energy investment, job creation, and support for small businesses. Previous Next

< Back How JLR turned from the worst mistake to a money maker for Tata? 10 Nov 2023 JLR brought a ₹21,000 crore debt to Tata Motors. In FY 2009, the company reported a loss of ₹2,500 crores, a first in seven years. Tata bought the British car maker for USD 2.3 billion on June 2, 2008, at the beginning of the recession. The world thought of it as a colossal mistake at the time. The acquisition brought a ₹21,000 crore debt to Tata Motors, and for the first time in seven years, the company posted a loss of ₹2,500 crores. And, now, in the second quarter of the current financial year, JLR recorded two-thirds of Tata Motors’ total profit. So, what changed? JLR’s focus on profitable vehicles like the Defender, Range Rover, and Range Rover Sports clocked 77% of the order book and 64% of total car sales this year. It plans to take its global market share from 12% to 17% by FY 2026. They will eventually wholly exit the low profitability segments like the Jaguar sedan and relaunch them as fully electric sports vehicles starting from £ 100,000 with a range of 700 kilometres. Previous Next