business news

India has made significant strides in reducing poverty, with rates dropping to 8.5% in 2022-24 from 21.2% in 2011-12, according to a research paper released by the National Council of Applied Economic Research (NCAER).

HDFC Bank has announced a scheduled system upgrade on July 13, 2024, which will temporarily affect its UPI (Unified Payments Interface) services. The bank aims to enhance its overall performance, capacity, and reliability through this upgrade, which will necessitate specific downtime periods for various banking services.

In a significant milestone, Steve Ballmer, former CEO of Microsoft Corp., has surpassed company co-founder Bill Gates to become the sixth-richest person in the world. This shift in wealth comes as Microsoft's stock reached record highs, bolstered by its strategic partnership with OpenAI, positioning it as a major beneficiary of the artificial intelligence boom in the US market.

In a landmark verdict, Indian-American entrepreneur Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison by a US court. The sentencing comes in the wake of a massive $1 billion fraud scheme that has rattled high-profile investors including Goldman Sachs Group Inc., Alphabet Inc. (Google's parent company), and Illinois Governor JB Pritzker's venture capital firm.

Toyota Kirloskar Motor (TKM) has reported a significant 40% year-on-year growth in sales for the month of June, marking its highest-ever monthly sales performance. The company sold 27,474 units compared to 19,608 units in June last year. Additionally, TKM exported 1,722 units during the same period.

Air India has unveiled ambitious plans to establish South Asia's largest Flying Training Organisation (FTO) in Maharashtra's Amravati, with operations set to commence by early 2026. This initiative marks a significant milestone as the first FTO by any Indian airline in the country.

In response to the devastating impact of recent heavy rainfall in Delhi, the state government has announced a compensation package of ₹10 lakhs for the families of those who lost their lives. The announcement, made by Minister Atishi on Sunday, aims to provide support to affected families following the tragic events caused by intense monsoon showers on June 28.

Online food delivery giant Zomato has found itself in the midst of a fiscal challenge, as it disclosed receiving a Goods and Services Tax (GST) demand notice totaling ₹9.5 crore from Karnataka's Assistant Commissioner of Commercial Taxes (Audit). This development comes following an audit of Zomato's GST returns and accounts for the fiscal year 2019-20.

Gaurav Munjal, Co-founder and CEO of Unacademy, has openly criticized Byju Raveendran, Founder and Group CEO of Byju's, attributing the edtech firm's recent setbacks to Raveendran's failure to heed advice from others.

A casual Tinder date took a sinister turn for a civil service aspirant who ended up paying a staggering ₹1,21,917.70 bill at a café in East Delhi, falling victim to an elaborate scam orchestrated by a group exploiting dating apps for financial gain.