Ban on levy of service charge in food bills without any legal basis: NRAI

Ban on levy of service charge in food bills without any legal basis: NRAI

The National Restaurant Association of India (NRAI) on Wednesday said the government cannot make changes in levy of service charge in food bills by making guidelines and CCPA's decision to bar hotels and restaurants from such practice has created unnecessary confusion amongst consumers and disrupted smooth operations of restaurants. It alleged that there is an [...]
ED conducts raids against Vivo, related companies in money laundering probe

ED conducts raids against Vivo, related companies in money laundering probe

The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar [...]
Passenger vehicle retail sales up 40% in June as chip supply improves

Passenger vehicle retail sales up 40% in June as chip supply improves

Passenger vehicle retail sales in the country rose 40 per cent in June indicating an improvement in semiconductor supplies even as demand, especially for SUVs, remained robust, auto dealer' body FADA said on Tuesday. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicle (PV) registrations rose to 2,60,683 units last month, as compared [...]
RBI imposes penalty on Kotak Mahindra Bank, IndusInd Bank

RBI imposes penalty on Kotak Mahindra Bank, IndusInd Bank

The Reserve Bank on Monday said it has imposed penalties of about Rs 1 crore each on Kotak Mahindra Bank and IndusInd Bank for deficiencies in regulatory compliance. Besides, the RBI has also imposed penalties on four co-operative banks. A penalty of Rs 1.05 crore has been imposed on Kotak Mahindra Bank for contravention of [...]
Tata Motors expects its performance to be better in second half of FY23: Chandrasekaran

Tata Motors expects its performance to be better in second half of FY23: Chandrasekaran

Tata Motors expects second half of the current fiscal to be better in terms of performance with gradual improvement in the overall supply situation and stabilisation in commodity prices, according to company chairman N Chandrasekaran. Addressing shareholders during the company's 77th annual general meeting, Chandrasekaran noted that demand for the company's vehicles across segments remained [...]