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The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="83" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) along with <keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword> international payments ltd (NIPL) will work towards taking <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> to 20 countries by FY29. RBI Annual report says possibilities will be explored for increasing the global footprints of UPI and <keyword id="19907221" type="General" weightage="20" keywordseo="RuPay" source="keywords">RuPay</keyword>. "In light of goals for Viksit Bharat 2047, the Reserve Bank, along with NPCI International Payments Ltd. (NIPL) will work towards taking UPI to 20 countries with initiation timeline of 2024-25 and completion timeline of 2028-29," the report said. The RBI report further adds "Fast Payment System (FPS) collaboration with group of countries like European Union and South Asian Association for Regional Cooperation (SAARC), as well as multilateral linkages will be explored". The Payments Vision Document 2025 of RBI has outlined expanding the global outreach of UPI and RuPay cards as one of the key objectives under the internationalisation pillar. The Reserve Bank is in talks with central banks of various countries for entering into collaborative arrangements. In July 2023, the Reserve Bank and the Central Bank of the UAE (CBUAE) signed a memorandum of understanding (MoU) for interlinking their payments infrastructure. Under this MoU, India and UAE have agreed to cooperate on linking their Fast Payment Systems, UPI of India with Instant Payment Platform (IPP) of UAE called Aani. Both countries also agreed to link their respective Card Switches (RuPay switch and UAESWITCH). In February 2024, RuPay cards and UPI connectivity between India and Mauritius was launched. With this connectivity, an Indian traveller to Mauritius will be able to pay a merchant in Mauritius using UPI apps. Similarly, a Mauritian traveller will be able to do the same in India using the instant payment system apps of Mauritius In February 2024, UPI connectivity between India and Sri Lanka was launched. This connectivity has enabled Indian travellers to make QR code-based payments at merchant locations in Sri Lanka using UPI apps. The Reserve Bank of India and Nepal Rastra Bank are also exploring the linkage of UPI platform of India and National Payments Interface of Nepal for enabling cross-border payments. In June 2023, NPCI International Payments Ltd. (NIPL) and Nepal Clearing House Ltd. (NCHL) signed a MoU for the purpose UPI payment through QR code is already accepted for merchant (e-commerce) payments in France and Nepal. India has some or other kinds of tie-ups with seven countries for making payments through UPI. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank">Upcoming cars and two-wheelers launching in India in June 2024</a><a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/huawei-beats-samsung-to-take-the-top-spot-in-global-foldable-smartphone-shipments/articleshow/110583786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/huawei-beats-samsung-to-take-the-top-spot-in-global-foldable-smartphone-shipments/articleshow/110583786.cms" target="_blank">Huawei beats Samsung to take the top spot in global foldable smartphone shipments</a>

RBI is working on expanding UPI to 20 countries by 2028-29: RBI Annual Report

New Delhi: India is set to enter a transformative "smartphone era" for cars in 2025, with the introduction of vehicles featuring 5G M2M connectivity and advanced AI technologies, according to the latest findings from Techarc's India Connected Consumer Report 2025. The report said the automotive sector will skip 4G and will enable connectivity using the latest 5G cellular technology. It observed that consumers are interested in spending money on improving the value proposition in terms of features, quality and experience rather than exploring too many smart devices. "22 per cent of the respondents shared about considering optimising their smart devices portfolio. Among the new set of categories, smart/connected cars is generating high interest among consumers. 55 per cent of the respondents said that they have come across news or information about smart/connected cars in recent times," it said. Starting in 2025, passenger cars in India will be equipped with 5G M2M connectivity, on-device GenAI, and cloud connectivity, making advanced technologies accessible across various price segments, it added. In-vehicle computing and artificial intelligence (GenAI), along with cloud applications, will become essential components of cars, enabling real-time data processing to support drivers effectively. Most cars priced at Rs 20 lakh and above will feature these technologies as standard. The cumulative revenues from automotive chipset companies have already surpassed USD 1.5 billion, with companies like Qualcomm and MediaTek leading the market. Some of the familiar applications that consumers will be able to use while driving include communication apps for audio/video conferencing, OTT entertainment apps, music streaming, podcasts, online shopping, vehicle maintenance, and servicing. "With connectivity and the technologies it brings to the cars, the future of the automobile sector will be fundamentally determined by the auto-technologies that will influence the overall experience, performance, comfort, safety and entertainment available to the drivers as well as the passengers. "So far, such features were seen as luxury or high-end experiences. But starting 2025, many of these will become mainstream for cars in India," Techarc AutoTech Analyst Sadat Ahanger said. With 22 automobile manufacturers producing nearly 5 million passenger vehicles annually in India, the country is poised to become a leader in the global 5G M2M market within the next few years, the report said. About 21 per cent of respondents said MG Motors is the leader in providing <keyword id="24016739" type="General" weightage="20" keywordseo="connected-cars-in-India" source="keywords">connected cars in India</keyword>, followed closely by Kia Motors at 18 per cent and Tata Motors at 15 per cent, it added. Hyundai and Maruti Suzuki also ranked among the top-five brands in this category. The report draws insights from a survey of 4,500 "connected consumers" across metro and non-metro cities. The report defined a connected consumer as one owning at least 3 smart devices in addition to a smartphone.

India to shift to 'smartphone era' for cars embracing 5G, advanced AI in 2025: Report

New Delhi: India's fossil fuel emissions are projected to rise by 4.6 per cent in 2024, while China could see a marginal rise of 0.2 per cent, according to new research by a group of international scientists. As the UN climate conference in Baku, Azerbaijan, discussed raising trillions of dollars to tackle <keyword id="19907392" type="General" weightage="20" keywordseo="Climate-change" source="keywords">climate change</keyword>, the group of scientists known as the "Global Carbon Project" warned that emissions from fossil fuels -- the main driver of warming -- could hit a record 37.4 billion tonnes in 2024, up 0.8 percent from 2023 levels. This comes despite rapid growth in renewable energy and a landmark agreement at COP28 in Dubai last year to move away from fossil fuels. The "<keyword id="23948569" type="General" weightage="20" keywordseo="Global-carbon-budget-2024" source="keywords">Global Carbon Budget 2024</keyword>" report said total global CO2 emissions are set to go up from 40.6 billion tons in 2023 to 41.6 billion metric tons in 2024, which is on course to become the warmest year on record. "The impacts of climate change are becoming increasingly dramatic, yet we still see no sign that burning of fossil fuels has peaked," Professor Pierre Friedlingstein of Exeter's Global Systems Institute, who led the study, said. The 'Global Carbon Project' team said India, the world's most populous country and fastest-growing major economy, may see its fossil fuel emissions rise by 4.6 percent. According to a UN report released last month, India's greenhouse gas emissions surged by 6.1 per cent in 2023, contributing to 8 per cent of the global total. However, the country's historical contribution to global CO2 emissions stands at only 3 per cent. India's per capita emissions remain low at 2.9 tons of CO2 equivalent (tCO2e), far below the global average of 6.6 tCO2e. India, the world's third-largest greenhouse gas emitter, has pledged to reach net zero emissions (balancing emissions with removals) by 2070 and aims to achieve 500 gigawatts of renewable energy capacity by 2030. China's emissions, which make up 32 per cent of the global total, are likely to increase slightly by 0.2 per cent, though there is a chance they could decline, according to the data released on Wednesday. Emissions from the United States and the European Union, which contribute 13 per cent and 7 per cent of the global total, are both set to decline, with drops of 0.6 per cent for the US and 3.8 per cent for the EU. Emissions from the rest of the world, which together account for 38 per cent of global emissions, could see a rise of 1.1 per cent. The researchers said that in 2024, coal emissions will likely increase by 0.2 per cent, oil by 0.9 per cent, and gas by 2.4 per cent, globally. Coal, oil, and gas contribute 41 per cent, 32 per cent, and 21 per cent of global fossil CO2 emissions, respectively. However, given the uncertainty in projections, it remains possible that coal emissions could decline in 2024, they said. The report also pointed out that emissions from international aviation and shipping, which account for 3 per cent of global emissions and are tracked separately from national or regional totals, are expected to rise by 7.8 per cent in 2024. However, these emissions will still be 3.5 per cent below the 2019 pre-pandemic levels. Globally, emissions from land-use changes, like deforestation, have dropped by 20 per cent over the past decade but are expected to rise in 2024. Permanent CO2 removal through reforestation and new forest planting now offsets about half of the emissions from permanent deforestation, they added. Technology-based CO2 removal accounts for only a tiny fraction -- around one-millionth -- of CO2 emissions from fossil fuels. The report said that emissions from fires in 2024 have been above the average since the beginning of the satellite record in 2003, particularly due to the extreme 2023 wildfire season in Canada (which continued into 2024) and severe drought in Brazil. Land and ocean carbon sinks continued to absorb around half of the total carbon emissions, despite being negatively affected by climate change.

Global fossil emissions to reach record high in 2024; India's share to rise by 4.6 pc: Report

The <keyword id="19901179" type="General" weightage="20" keywordseo="international-cricket-council" source="keywords">International Cricket Council</keyword> (<keyword id="19901177" type="General" weightage="20" keywordseo="ICC" source="keywords">ICC</keyword>) is mulling a dedicated fund of at least USD 15 million for <keyword id="19935483" type="General" weightage="100" keywordseo="Test-cricket" source="keywords">Test cricket</keyword> that will help increase the players' match fee and address the migration of talent to lucrative <keyword id="22888428" type="General" weightage="20" keywordseo="T20-franchise-leagues" source="keywords">T20 franchise leagues</keyword>. The initiative, which was was proposed by <keyword id="19897940" type="General" weightage="20" keywordseo="Cricket-Australia" source="keywords">Cricket Australia</keyword> (CA), has the support of <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="261" meta.entityid="BCCI">BCCI</keyword> Secretary <keyword id="19930802" type="General" weightage="20" keywordseo="jay-shah" source="keywords">Jay Shah</keyword>, who is the front-runner to become the next ICC Chairman, and the <keyword id="20312896" type="General" weightage="20" keywordseo="England-and-Wales-Cricket-Board" source="keywords">England and Wales Cricket Board</keyword> (ECB), a report in 'The Sydney Morning Herald' stated. The fund would increase the minimum match payment for Test players and cover the cost of sending teams on overseas tours. It would support national boards like the West Indies that currently struggle to compete with the wages offered in global T20 competitions. "The fund would ensure a minimum Test payment for all players, thought to be USD 10,000, and pay the costs of overseas tours for struggling countries," the report stated. "It's fantastic to see some momentum behind the Test match fund," CA chairman <keyword id="21076759" type="General" weightage="20" keywordseo="mike-baird" source="keywords">Mike Baird</keyword>, who floated the concept in January, said. "We need to take away the barriers and encourage Test cricket to be the best of the best. To retain that history and that legacy, which goes alongside the newer forms of white ball cricket," he added. The fund is unlikely to benefit the three wealthiest cricket nations — India, Australia, and England — since they already offer substantial salaries to their players. However, how much money is available for Test cricket from the ICC is also likely to depend on a dispute with broadcaster Star, the report added. The Star network wants to renegotiate a 2022 broadcast deal with the ICC and reduce its value to half of the original cost of over USD three billion. The BCCI had introduced an incentive scheme for India's men's Test cricketers earlier this year to encourage players to prioritise Test cricket and reward consistent performances in the longest format of the game. Under the new scheme, a player who plays at least 75 per cent of India's Test matches in its annual cycle, from October to September, will earn a whopping Rs 45 lakh per match in addition to the Test match fees of Rs 15 lakh. The players who feature in the 50-75 per cent games bracket will earn a bonus of Rs 30 lakh per match. The non-playing members — if selected in the squad — will be paid half the amount.

ICC planning multi-million dollar fund to save Test cricket: Report

After a steep nosedive in demand for office space rentals during 2020 and 2021, a new <keyword id="19955574" type="General" weightage="20" keywordseo="Colliers-report" source="keywords">Colliers report</keyword> has now noted that office rentals across six major <keyword id="20026638" type="General" weightage="20" keywordseo="Indian-cities" source="keywords">Indian cities</keyword> have finally rebounded to their <keyword id="20789690" type="General" weightage="20" keywordseo="pre-pandemic-levels" source="keywords">pre-pandemic levels</keyword> and even inched around 2-8% higher. While some cities like <keyword id="19900176" type="General" weightage="20" keywordseo="Hyderabad" source="keywords">Hyderabad</keyword> and Pune had already gone beyond their pre-pandemic rental levels as early as 2022, <keyword id="19895037" type="General" weightage="20" keywordseo="Bengaluru" source="keywords">Bengaluru</keyword> and Chennai had followed suit a year later in 2023. The last to join the bandwagon were <keyword id="19906633" type="General" weightage="20" keywordseo="Delhi-NCR" source="keywords">Delhi NCR</keyword> and Mumbai, which finally managed to breach their pre-pandemic levels in 2024. However, both Delhi and Mumbai recorded the highest jump in average rentals at 8% each, followed by Mumbai and Chennai, which saw hikes of about 5-6% during this period. The recovery in demand for office spaces, which kicked off in 2022, has stayed steady since. Arpit Mehrotra, Managing Director, Office Services, India, Colliers notes that going ahead, the annual increase in average quoted rentals at the end of 2024 is likely to be higher for certain cities like Delhi NCR and Pune, as compared to other markets. "Moreover, as demand scale-up in Indian <keyword id="20107243" type="General" weightage="20" keywordseo="commercial-real-estate" source="keywords">commercial real estate</keyword> solidifies, notwithstanding unforeseen events, annual space take up to the tune of 60 million sq ft is likely to be the new norm in the medium-term," he added. <h2>Prime location takes the cake</h2>Even within these cities, the growth of rental demand in certain micro-markets, which are located at prime locations, saw greater than the 2-8% average growth. For instance, in Delhi NCR, Gold Course Extension Road, Noida Expressway, and Cyber City saw up to a 25% rise in rentals. In Bengaluru, which saw around 2% <keyword id="22329786" type="General" weightage="20" keywordseo="rental-growth" source="keywords">rental growth</keyword> overall, Whitefield and ORR (Outer Ring Road) commanded a rental premium, with rents here surging by as much as 5-10% between 2019 and 2024. IOMR Zone 1 in Chennai and Bandra-Kurla Complex, Goregaon, and JVLR in Mumbai saw rents surge by around 10-20% from pre-pandemic levels between 2019 and 2024. In contrast, rental rates in Chennai and Mumbai grew at around 5% and 6%, respectively. In Hyderabad, SBD, or the Secondary Business District, which comprises of Gachibowli, Hitec City, and more, saw rentals surge between 5-10% between 2019 and 2024, as opposed to the 5% cumulative rental growth experienced by Hyderabad. In Pune, CBD and Kharadi saw rentals inch up by 5-10%, whereas the whole of Pune only saw their rentals grow by around 5% during the past 6 years. Mumbai and Delhi have also seen a dip in <keyword id="23656583" type="General" weightage="20" keywordseo="vacancy-levels" source="keywords">vacancy levels</keyword> since 2019. While this has dropped to 20% in Delhi at present, Mumbai ranks the lowest in terms of empty office spaces at 10.7%. In both these cities, demand for office spaces has consistently outpaced supply, which explains the low vacancies. In contrast, in Hyderabad, where supply continues to trump demand, current vacancy levels have gone as high as 25%. Going ahead, the Colliers report also estimates that average office rentals can witness up to 10% annual growth across key Indian cities by the end of this year.

Office rents across all major Indian cities surpass pre-pandemic levels in 2024, notes a new report

<ul class="summary-list"><li>Elon Musk's security team includes up to 20 security guards and a medical professional, NYT reports.</li><li>Musk's security team reportedly refers to the Tesla CEO by the code name "Voyager."</li></ul>"Voyager" — explorer, famous NASA mission, and now … billionaire tech mogul?That's the code name that <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a>'s security team uses to refers to him, The New York Times <a target="_blank" class="" href="https://www.nytimes.com/2024/09/13/technology/elon-musk-security.html">reported</a> as part of an investigation into the Tesla CEO's protective services.And "Voyager" doesn't go very far without his bodyguards, flanked by as many as 20 security personnel, some armed — plus a medical professional — wherever he goes, according to the outlet.In many ways, Musk's deep bench of security personnel makes sense. With a net worth of over $250 billion, according to Bloomberg's Billionaires Index, he's the world's richest person, and that stratosphere of wealth brings some very real risks into the equation.But Musk wasn't always this wealthy, and the Times reports that he used to prefer roaming without his around-the-clock personal platoon. But by 2014, Musk had reportedly upgraded to a revolving circle of security staff to run his errands, assess threats, and research people deemed as "inappropriate pursuers."These expenses could total six figures in a month, NYT reports, once reaching a bill of over $163,000 in January 2016. And Musk has reportedly increased his security measures as his wealth, status, and security risks grew.He also hasn't shied away from talking about security concerns or threats made against him. At Tesla's annual shareholder meeting in June, Musk said that "two homicidal maniacs" had <a target="_blank" class="" href="https://www.businessinsider.com/tesla-headquarters-terroristic-threat-austin-elon-musk-zach-kirkhorn-2024-6">threatened to kill</a> him in recent months.He's also taken measures to increase his security.In 2022, Business Insider revealed that Musk <a target="_blank" class="" href="https://www.businessinsider.com/elon-musks-secret-austin-house-2024-4">secretly bought a house</a> after his former address became public knowledge. A neighbor previously told BI that the billionaire's <a target="_blank" class="" href="https://www.businessinsider.com/elon-musks-secret-austin-house-2024-4">home has 24/7 security</a>. Musk also attempted to take down an X, formerly Twitter, account that <a target="_blank" class="" href="https://www.businessinsider.com/student-who-tracks-elon-musk-jet-not-concerned-potential-lawsuit-2022-12">tracked his private jets</a> several times.With Musk saying things were "getting a little crazy these days" at the recent Tesla shareholder meeting, his security has apparently upped the ante to keep up.A Tesla SEC <a target="_blank" class="" href="https://www.sec.gov/Archives/edgar/data/1318605/000110465924048040/tm2326076d13_pre14a.htm#tCRAR">filing</a> revealed that Musk's security company billed the company $2.4 million in 2023 and another $500,000 through February 2024, representing just a portion of Musk's total security expenses.And that security follows him everywhere — <a target="_blank" class="" href="https://www.businessinsider.com/bodyguards-accompany-elon-musk-twitter-headquarters-restroom-engineer-report-2023-3">even to the bathroom</a>. Musk's father, Errol, has taken notice, <a target="_blank" class="" href="https://www.the-sun.com/news/7188273/elon-musk-dad-security-abduction-anxiety-twitter/">saying</a> that he was fearful for his son's safety "even though he has about 100 security guards around him." Musk even ramped up security for Errol's South African home, arming it with a camera system, electrified fencing, and constant monitoring by guards, Errol said.Musk is not the only tech tycoon doubling down on security expenditures. Mark Zuckerberg's total 2023 compensation of $24 million from Meta "consisted almost entirely of costs related to personal security" at his residences and during private travel, according to an <a target="_blank" class="" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326801/000132680124000034/meta-20240418.htm">SEC filing</a>.Other companies spent more modest numbers, with Apple spending over $820,309 in 2023 on CEO Tim Cook's personal security and more than $1,621,468 on private travel-related costs.Tesla has also tightened up security after its former chief financial officer, <a target="_blank" rel="" href="https://www.businessinsider.com/tesla-cfo-zachary-kirkhorn-rumored-elon-musk-ceo-successor-leaving-2023-8">Zachary Kirkhorn</a>, received a death threat demanding $300,000 in bitcoin via email, Business Insider previously reported.At least five other 911 were also reportedly made between 2022 and 2023 from Tesla's HQ, which law enforcement categorized as <a target="_blank" class="" href="https://www.businessinsider.com/tesla-headquarters-terroristic-threat-austin-elon-musk-zach-kirkhorn-2024-6">"terroristic threats,"</a> BI reported.Former and current employees previously told BI that factory workers in both Nevada and Texas must go through badge checks on the shuttle (or at the gate for those who drive to work) and at two separate points once inside the building.

Elon Musk now travels with up to 20 bodyguards who refer to him by the code name 'Voyager,' report says 

Softbank-backed e-commerce firm <keyword id="19911893" type="General" weightage="20" keywordseo="Meesho" source="keywords" meta.keywordsubtype="org" meta.entityname="Meesho" meta.hostid="153" meta.entityid="Meesho">Meesho</keyword> will start its annual <keyword id="23217664" type="General" weightage="20" keywordseo="festival-sale" source="keywords">festival sale</keyword>, Meesho <keyword id="23217663" type="General" weightage="20" keywordseo="Mega-Blockbuster-Sale" source="keywords">Mega Blockbuster Sale</keyword>, from September 27 onwards with the highest number of sellers onboard among its competitors, the company said on Tuesday. The company has recorded about 42 per cent surge in sellers on a year-on-year basis to 20 lakh for the upcoming festival season. "Meesho's Annual 'Meesho Mega Blockbuster Sale' Starts on 27th September. With over 20 lakh sellers and 12 crore product listings across 30 categories, Meesho aims to make festive shopping more accessible, affordable, and convenient for shoppers across the country," the company said in a statement. Meesho claimed to have 14 lakh sellers onboard for Meesho Mega Blockbuster 2023. <keyword id="19910508" type="General" weightage="20" keywordseo="Amazon-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon India" meta.hostid="153" meta.entityid="Amazon India">Amazon India</keyword> has seen a 14 per cent growth in <keyword id="23217665" type="General" weightage="20" keywordseo="seller-base" source="keywords">seller base</keyword> but remains lower than that of Meesho for their upcoming annual festival sale "<keyword id="23217666" type="General" weightage="20" keywordseo="The-Great-Indian-Festival" source="keywords">The Great Indian Festival</keyword>". "Our current seller base exceeds 16 lakh sellers from all across the country," Amazon India, Director, Selling Partner Services, Amit Nanda, said. Interest of sellers for <keyword id="19896939" type="General" weightage="20" keywordseo="Flipkart" source="keywords" meta.keywordsubtype="org" meta.entityname="Flipkart" meta.hostid="153" meta.entityid="Flipkart">Flipkart</keyword> has remained muted on a year-over-year basis. While announcing annual festival sale dates "The Big Billion Days" on Monday, <keyword id="19896940" type="General" weightage="20" keywordseo="Walmart" source="keywords" meta.keywordsubtype="org" meta.entityname="Walmart" meta.hostid="153" meta.entityid="Walmart">Walmart</keyword> group firm Flipkart had said it has over 50 crore users and more than 14 lakh sellers on the platform, including sellers of its other platform Shopsy as well. Flipkart had reported the same level of sellers onboard before the TBBD in 2023. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-to-begin-on-september-27/articleshow/113445238.cms">Amazon Great Indian Festival sale to begin on September 27</a> <a href="https://www.businessinsider.in/business/auto/news/triumph-speed-t4-launched-in-india-with-a-price-tag-of-2-17-lakh/slidelist/113429766.cms">Triumph Speed T4 launched in India with a price tag of ₹2.17 lakh</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-samsung-accused-of-colluding-with-amazon-and-flipkart/articleshow/113381204.cms">Xiaomi and Samsung accused of colluding with Amazon and Flipkart</a>

Meesho to begin annual festival sale from September  27, sees 42% surge in seller base

July is here, and while we are still 5 months away from the end of 2024, the deadline to file your <keyword id="19897621" type="General" weightage="20" keywordseo="ITR" source="keywords">ITR</keyword> is July 31st, which is looming large. While it is best to not "file away" filing your income tax returns for later, are you aware of the right ITR form that applies to you? Out of the 7 ITR forms available, how do you know which one is the right fit for you, and where to start? For starters, the first 4 ITR forms (ITR-1,2,3,4) are necessary for an individual to know about, while filing taxes. Lets decode all these forms in detail with Tanya, a 22 year old IT professional who earns Rs 10,000 per month. Her mother has a monthly rental income of Rs 12,000 per month. Will the two of them be required to file ITR? Well, the answer is no. You see, Tanya's <keyword id="21120362" type="General" weightage="20" keywordseo="annual-income" source="keywords">annual income</keyword> comes to about Rs 1,20,000, while her mother's total rental income comes to about Rs 2,40,000. If you opt for the old tax regime, you don't need to file an ITR if you annual income is below Rs 2.5 lakh. In the new regime, this limit stands at Rs 3 lakh. Similarly, if your grandparents are aged between 61-79, they need not file an ITR if their annual income (via rent, pensions) falls below Rs 3 lakh. And if they are aged above 80, this threshold if of Rs 5 lakh for the year. <h2>ITR-1: Sahaj </h2>Lets continue with Tanya's life. She works super hard, and over the years, earns a few well deserved raises. Now, her monthly income is Rs 50,000. In this case, she will have to file ITR-1, which is also known as Sahaj. This form applies to you if your total annual income for the year does not exceed Rs 50,00,000. The best part? This form is generally pre-filled, and all you've got to do is verify the information through your <keyword id="22247325" type="General" weightage="20" keywordseo="Form-16" source="keywords">Form-16</keyword> and Annual Information Statement (AIS). <h2>ITR-2 </h2>Over time, Tanya decides to start investing in mutual funds. While she holds most of her investments for the long-term, she is compelled to sell some units of her investment in equity mutual funds, due to a medical emergency at home. She had purchased some equity mutual fund units worth Rs 2,00,000 on April 1, 2023. Due to the emergency, she had to sell about Rs 80,000 worth of units in December of the same year. On redemption, she received Rs 1,10,000. Since she had held these securities for less than 12 months, Tanya would have to pay a short-term <keyword id="20301441" type="General" weightage="20" keywordseo="capital-gains-tax" source="keywords">capital gains tax</keyword> of 15%, Had Tanya held on to these securities for more than 12 months and then sold them at a gain, she'd have to pay long-term capital gains tax, which is applicable at 10% for equity mutual funds. And to account for such capital gains, be it from sale of shares, mutual funds, property or the like, Tanya needs to file ITR-2. <h2>ITR-3</h2>Tanya's brother, Vishal, is a freelancer who got hooked to trading in futures and options during the pandemic. Initially, he made solid profits, but during FY24, he ran into losses worth Rs 5 lakh. In this case, he will have to file ITR-3 to report his losses. This form is to be used by those who earn income under the head of profits (or even losses) of business or profession, other than regular salary. In case Tanya's mother starts receiving rental income from more than one house properties, she will also have to file ITR-3. Or, in case you are a CA, or a doctor and have your own practice (are self employed), this form is for you. <h2>ITR-4: Sugam </h2>This form is exclusively for those who opt to be taxed under the presumptive taxation scheme. You can opt for this scheme if you are a small business/firm and your annual turnover is less than Rs 3 crore, or you are self employed with an annual revenue of less than Rs 75 lakh. Under this, you don't pay taxes on your actual income, rather, you pay taxes on a presumed income. As per law, under this scheme, your net income will be considered as 6% of your total revenue, and you'll have to pay taxes on that. Here, you're really not calculating your income for taxation, and hence, it is not even mandatory to maintain records. In case you file the wrong ITR, you can always file a revised return by December 31, 2024. In case you miss filing your ITR on time, you’ll have to pay Rs 5,000 as a penalty. Moreover, you’ll be charged interest on your outstanding tax liability, if there is any. So, get down to work, right away!

Wondering which ITR form is right for you? Know all about it here

The Indian cement industry is on track to reach 5.09 billion tonnes by 2028-29, driven by robust government investment in infrastructure. According to an IANS report originally attributed to Infomerics Ratings, this marks a compound annual growth rate (CAGR) of 4.9 per cent between 2024 and 2029. In 2022-23, the industry’s market size stood at 3.82 billion tonnes, with a total installed capacity of 622 million tonnes per annum (MTPA) in FY24 and production at 427 million tonnes. Notably, India contributes over 8 per cent to the world’s total installed cement capacity, highlighting its importance in the global market. Despite this, India’s per capita cement consumption is 260 kg—significantly below the global average of 540 kg—indicating substantial room for growth. Globally, the cement market is projected to grow at a CAGR of 4.3 per cent from 2024 to 2032. The sector’s expansion is fuelled by ambitious government initiatives, including an allocation of ₹11.11 lakh crore for infrastructure in FY25 and housing schemes like Pradhan Mantri Awas Yojana. The construction sector consumes 55 per cent of cement production, while public infrastructure projects account for the remainder. The industry also plays a critical role in employment, providing direct jobs to over one million people and creating downstream opportunities for about 20,000 individuals per million tonnes of cement produced. Private players dominate the sector, controlling 98 per cent of production capacity, while public sector units hold a mere 2 per cent. Domestic production meets almost all demand, with imports accounting for just 0.2 per cent of total production in FY23. However, exports have declined recently due to reduced global demand and rising competition. India currently has 341 cement manufacturing facilities, including 159 integrated large cement plants, 120 grinding units, and 62 mini cement plants. Cement production has seen steady growth, with a 7.1 per cent increase in September 2024 and a cumulative growth of 1.6 per cent between April and September of FY25, according to the Ministry of Commerce and Industry. This growth aligns with India’s overall industrial performance, which saw a 2 per cent rise in core industries in September, led by cement, steel, coal, and fertilisers. As India invests heavily in infrastructure and housing, the cement industry is set to play a pivotal role in supporting the nation’s economic and developmental goals. (with IANS inputs)

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

The State Bank of India (<keyword id="19898108" type="General" weightage="20" keywordseo="sbi" source="keywords">SBI</keyword>) in its latest report has asked for <keyword id="20213295" type="General" weightage="20" keywordseo="tax-reforms" source="keywords">tax reforms</keyword> after concerns were flagged over the recent decline in <keyword id="20202062" type="General" weightage="100" keywordseo="bank-deposits" source="keywords">bank deposits</keyword>. The report says tax Reforms for Deposits can accentuate the banking system's stability and resilience to the next level. SBI attributed the fall in deposits to the varied rates of return offered by different <keyword id="20139443" type="General" weightage="20" keywordseo="investment-options" source="keywords">investment options</keyword> for similar time frames and different tax rates on <keyword id="22837794" type="General" weightage="20" keywordseo="returns-on-deposits" source="keywords">returns on deposits</keyword>. The <keyword id="20352499" type="General" weightage="20" keywordseo="SBI-report" source="keywords">SBI report</keyword> said that "<keyword id="20658792" type="General" weightage="20" keywordseo="tax-treatment" source="keywords">Tax treatment</keyword> of bank and non-bank channels are non-uniform, even as bank deposits have a wider and denser pass-through effect across the populace sensitivity of Deposits on Tax is as much as 7 per cent" The report noted that a bank deposit of Rs 10 lac in a Savings Bank (SB) account at an investment return of 3 per cent would generate Rs 30,000 in returns and after accounting for taxes and exemptions, the <keyword id="22837795" type="General" weightage="20" keywordseo="net-return" source="keywords">net return</keyword> would be Rs 16,000. The report adds that the net returns vary significantly if deposits are made in different instruments like <keyword id="21041176" type="General" weightage="20" keywordseo="term-deposits" source="keywords">term deposits</keyword>, short and long-term investments in debt funds, liquid funds or bonds. The tax rates on these deposits also favour saving banks or term deposits. The report illustrates a term deposit of up to one year with the same principal amount of Rs 10 lac at a yield of 6.25 per cent would result in a net return of Rs 50,000 after taxes. But for term deposits exceeding one year the interest rate is higher and with an interest rate of 7.25 per cent, the gross return would be Rs 72,500. After taxes, the net return would be Rs 58,000. The data highlights that similar type of investments for the same period generates significantly different returns because of different tax treatment by the government. Similar variations are observed in other <keyword id="20105084" type="General" weightage="20" keywordseo="investment-plans" source="keywords">investment plans</keyword> as well. For instance, investments in equity and mutual funds with a 2 per cent dividend income of Rs 10,00,000 generate Rs 20,000, which after taxes the net return is Rs 16,000. However, Short-term investments of less than one year in equity and mutual funds, offering an 11 per cent return generate Rs 1,10,000, with a net return of Rs 88,000 after taxes. This investment if made in Long-term investments of more than one year the return increases to 15% on Rs 10,00,000 and generates Rs 1,50,000 annually. With a lower tax bracket of 12.5 per cent tax on long-term investments and applicable exemptions, the net return is Rs 1,43,750. These variations in returns across different deposits and investment options highlight the complexity and thus investors are choosing the higher return options over the bank deposits which in turn poses a threat to the deposit growth in the banking sector.

Decline in bank deposits because of non-uniform tax treatment on various investment options: SBI report

<ul class="summary-list"><li>A rare bee species reportedly threw a wrench in Meta's plans for an AI data center.</li><li>Meta planned to build a facility to run on nuclear power, but the bees complicated matters, FT said.</li></ul>In <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-happy-spending-big-ai-2024-10">the race to build out AI infrastructure</a>, Meta met an unlikely roadblock in one case: bees.A rare species of the insect threw a wrench in the company's plans for an AI data center, <a target="_blank" class="" href="https://www.ft.com/content/ed602e09-6c40-4979-aff9-7453ee28406a">the Financial Times</a> reported Monday.Meta had been in talks with a nuclear power plant operator for a US data center to support <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-meta-nvidia-h100-chip-cluster-llama-4-2024-10">the company's AI work</a>, per the FT. However, Meta CEO Mark Zuckerberg said in an all-hands gathering that the discovery of the bee species at a location next to the planned plant was partly responsible for upending the plans, the FT reported, citing two people familiar with the meeting.Regulatory challenges were also a factor, according to the FT. The newspaper didn't name the power plant operator or say where the site was set to be. <a target="_blank" class="" href="https://www.businessinsider.com/meta-stock-earnings-report-call-live-updates-2024-10">Meta said in its latest earnings report</a> that it expects "a significant acceleration in infrastructure expense growth next year" and "significant capital expenditures growth in 2025," owing in no small part to its work on AI.Meta isn't the only tech giant spending big on infrastructure for its AI ambitions. Rivals, including Google, Amazon, and Microsoft, also invest billions in data centers to power their AI. <a target="_blank" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">Last</a><a target="_blank" class="" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10"> month, Google announced a partnership to buy nuclear energy</a> from small modular reactors to be built by Kairos Power, making it the first tech giant to broker a deal for new nuclear power plants.Amazon plans to spend about $150 billion on data centers by 2040, Bloomberg <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-03-28/amazon-bets-150-billion-on-data-centers-required-for-ai-boom?embedded-checkout=true">reported</a> in March. <a target="_blank" class="" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">The company could roll out as many as 240 new data centers by 2040</a>, Marc Wulfraat, the president of the consulting firm MWPVL, previously told BI, citing the massive square footage at the company's disposal by way of its leasing space in buildings shared with other firms.In September, Microsoft signed a 20-year power purchase agreement with energy company Constellation in a deal that would <a target="_blank" class="" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">bring back online part of Three Mile Island</a>, the site of the US's worst nuclear energy accident.The boom in data centers to power AI also comes with <a target="_blank" class="" href="https://www.businessinsider.com/chatgpt-generative-ai-environment-climate-change-global-emissions-2023-9">high costs environmentally</a>, not just financially. In the US, data centers are expected to reach 35 gigawatts of power consumption annually by 2040, up from 17 gigawatts in 2022, according to a <a target="_blank" rel="noopener nofollow" href="https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/investing-in-the-rising-data-center-economy">McKinsey analysis</a>.Meta did not immediately respond to Business Insider's request for comment.

A rare bee species reportedly put an end to Meta's plans for a nuclear-powered AI data center

<ul class="summary-list"><li>The CEO of Nigeria's Air Peace airline has been charged with obstruction of justice.</li><li>US prosecutors say Allen Onyema submitted false documents to the government to try to curtail a fraud investigation.</li></ul>Allen Onyema, the CEO and founder of Nigeria's Air Peace airline, has been charged with obstruction of justice in the US, adding to previous charges of bank fraud and money laundering.A press release from the <a target="_blank" class="" href="https://www.justice.gov/usao-ndga/pr/ceo-nigerian-airline-and-co-defendant-indicted-obstruction-justice">US Attorney's Office for the Northern District of Georgia</a> says that Onyema, 61, was charged with "submitting false documents to the government in an effort to end an investigation of him" that led to those earlier charges, which were brought in 2019.Ejiroghene Eghagha, 42, Air Peace's chief of administration and finance, was also charged with obstruction, the press release says.The pair were indicted in 2019 over allegations that they had moved more than $20 million from Nigeria through US bank accounts by using false documents based on the purchase of five Boeing 737 planes.The indictment, seen by Business Insider, says they submitted export letters of credit to fund the purchases, along with supporting purchase agreements, bills of sale, and appraisals.But prosecutors argue that these documents were fake and that the company supposedly selling the planes, the Georgia-registered firm Springfield Aviation, was owned by Onyema and managed by someone with no connection to the aviation industry."The aircraft that was referenced in each of the export letters of credit was never owned or sold by Springfield Aviation," the indictment says.Once the money was in the US, prosecutors say Onyema laundered over $16 million by moving it to other accounts.In 2019, investigators then say Onyema, aware he was under investigation, told the Springfield Aviation manager to sign but not date a business contract.His attorneys are later said to have presented this document — which was now dated before the alleged fraud began — to the government "in an effort to stop the investigation and unfreeze his bank accounts."Following the latest charges, Ryan Buchanan, the US Attorney for the Northern District of Georgia, said: "Onyema allegedly leveraged his status as a prominent business leader and airline executive while using falsified documents to commit fraud."<div type="image" title="Prince Harry and Meghan Markle arriving in Lagos." height="682" width="1024" msid="114193357" hostid="261" sizebytes="101644"></div>Earlier this year, Onyema made headlines after he welcomed Prince Harry and Meghan Markle to Nigeria.Harry and Markle flew from Nigeria's capital Abuja to Lagos on Air Peace in May, the <a target="_blank" class="" href="https://www.dailymail.co.uk/news/article-13418423/Harry-Meghan-welcomed-Nigeria-fugitive-fraudster-wanted-laundering.html">MailOnline</a> reported at the time.An unnamed source close to the pair told <a target="_blank" class="" href="https://www.thedailybeast.com/prince-harry-meghan-markle-push-back-on-nigerian-wanted-fugitive-claims">the Daily Beast</a> that the couple's travel within Nigeria had been arranged by the Nigerian Chief of Defense Staff.Business Insider has contacted Air Peace for comment.

You Searched For "annual report 2019 20" and got 12 results

RBI is working on expanding UPI to 20 countries by 2028-29: RBI Annual Report

ANI

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PTI

Global fossil emissions to reach record high in 2024; India's share to rise by 4.6 pc: Report

PTI

ICC planning multi-million dollar fund to save Test cricket: Report

PTI

Office rents across all major Indian cities surpass pre-pandemic levels in 2024, notes a new report

Ira Alok Puranik

Elon Musk now travels with up to 20 bodyguards who refer to him by the code name 'Voyager,' report says

Jaures Yip

Meesho to begin annual festival sale from September 27, sees 42% surge in seller base

PTI

Wondering which ITR form is right for you? Know all about it here

Ira Alok Puranik

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

BI India Bureau

Decline in bank deposits because of non-uniform tax treatment on various investment options: SBI report

ANI

A rare bee species reportedly put an end to Meta's plans for a nuclear-powered AI data center

Sarah Jackson

CEO of Nigeria's Air Peace charged in US with obstructing investigation into $20 million fraud probe

Rebecca Rommen

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