<ul><li><keyword id="6354679" type="General" weightage="100" keywordseo="gst" source="Orion">GST</keyword> collection grew 13% in March to ₹1.6 lakh crore - the second highest mop-up since the rollout of the indirect tax regime.</li><li>The total gross collection for full 2022-23 fiscal stands at ₹18.1 lakh crore, 22% higher than the previous year.</li><li>The average gross monthly collection for the full year is ₹1.51 lakh crore.</li></ul>GST collection grew 13 per cent in March to Rs 1.60 lakh crore - the second highest mop-up since the rollout of the indirect tax regime. The return filing during March 2023 has been the highest ever. Gross GST revenue collected in March 2023 is Rs 1,60,122 crore, of which Central GST is Rs 29,546 crore, State GST is Rs 37,314 crore, Integrated GST is Rs 82,907 crore (including Rs 42,503 crore collected on import of goods) and cess is Rs 10,355 crore, the <keyword id="47209" type="General" weightage="50" keywordseo="finance-ministry" source="Orion">finance ministry</keyword> said in a statement. The total gross collection for full 2022-23 fiscal stands at Rs 18.10 lakh crore, 22 per cent higher than the previous year. The average gross monthly collection for the full year is Rs 1.51 lakh crore. It is for the fourth time in the just gone by financial year that the gross GST collection has crossed Rs 1.5 lakh crore-mark, registering the second highest collection in March since the implementation of GST. Last month also witnessed the highest <keyword id="6360947" type="General" weightage="50" keywordseo="igst" source="Orion">IGST</keyword> collection ever, the ministry said. In April last year, GST collection had touched a record high of Rs 1.68 lakh crore. Revenue for the month of March 2023 is 13 per cent higher than the GST revenue in the same month last year, the ministry said. During the month, revenue from import of goods was 8 per cent higher and revenue from domestic transaction (including import of services) is 14 per cent higher than the revenue from these sources during the same month last year. The return filing during March 2023 has been the highest ever. 93.2 per cent of statement of invoices (in GSTR-1) and 91.4 per cent of returns (in GSTR-3B) of February were filed till March 2023 as compared to 83.1 per cent and 84.7 per cent, respectively a year ago. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/no-festive-cheer-for-auto-cos-in-march-pv-sales-flattish-2ws-to-see-a-slight-uptick/articleshow/99145011.cms">No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

GST mop-up rises 13% to ₹1.6 lakh crore in March, second highest collection ever

<keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s <keyword id="32723" type="General" weightage="80" keywordseo="defence" source="Orion">defence</keyword> exports reached an all-time high of Rs 15,920 crore in the financial year 2022-2023, Defence Minister <keyword id="6355121" type="General" weightage="50" keywordseo="rajnath-singh" source="Orion">Rajnath Singh</keyword> said on Saturday describing the rise as a remarkable achievement. The country's defence exports in 2021-22 was Rs 12,814 crore, according to official data. "India's defence exports have reached an all-time high of Rs 15,920 crore in FY 2022-2023. It is a remarkable achievement for the country," Singh said on Twitter. "Under the inspiring leadership of PM Shri @narendramodi, our defence exports will continue to grow exponentially," he said. India exported military hardware worth Rs 8,434 crore in 2020-21, Rs 9,115 crore in 2019-20, and Rs 10,745 crore in 2018-19, according to details provided by Singh. The amount in 2017-18 was Rs 4,682 crore and Rs 1,521 crore in 2016-17. The government has set the target of manufacturing defence hardware worth Rs 1,75,000 crore and take defence exports to Rs 35,000 crore by 2024-25. In the last few years, the government has taken a series of measures to promote domestic defence production. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/no-festive-cheer-for-auto-cos-in-march-pv-sales-flattish-2ws-to-see-a-slight-uptick/articleshow/99145011.cms">No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

India exported military hardware worth ₹15,920 crore in 2022-23: Rajnath

<ul><li><keyword id="193629" type="General" weightage="20" keywordseo="NPCI" source="Orion">NPCI</keyword> has issued a circular on <keyword id="4536765" type="General" weightage="20" keywordseo="interchange-fees" source="Orion">interchange fees</keyword> on <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword> transactions done via prepaid payment instruments.</li><li>Additionally, the circular also mentions that wallet providers like PhonePe, Paytm and others will have to pay a fee when users load more than ₹2,000 into their <keyword id="727091" type="General" weightage="20" keywordseo="wallets" source="Orion">wallets</keyword> via UPI.</li><li>Here’s a complete breakdown of which <keyword id="3679109" type="General" weightage="20" keywordseo="UPI-payments" source="Orion">UPI payments</keyword> will attract charges, who will have to pay these charges and more.</li></ul>The National Payments Corporation of India (NPCI) has introduced an interchange fee of up to 1.1% on UPI transactions done via prepaid payment instruments (PPI) from April 1. The charge will be applicable on payments of over ₹2,000, but it has caused confusion amongst users as to who will be charged for these transactions and which payment modes will be chargeable. “The interchange charges introduced are only applicable for the PPI merchant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank account based UPI payments (i.e. normal UPI payments),” NPCI said in a statement on Wednesday. We try to cut through the jargon and decode exactly what will happen from April 1 and how it will affect you. <cmsannotation type="cmsannotation" annotationid="What does the NPCI circular say?" comment="subhead" text="What does the NPCI circular say?">What does the NPCI circular say?</cmsannotation> According to the NPCI circular, first reported by<a href="https://www.cnbctv18.com/business/ppi-charges-upi-rural-india-digital-payments-16285871.htm"> CNBC-TV18</a>, UPI transactions done via prepaid payment instruments will now attract an interchange fee of up to 1.1%. This fee will be applicable on transactions of over ₹2,000. This will also be applicable on loading money in wallets via UPI. <cmsannotation type="cmsannotation" annotationid="Will this affect payments to friends, family or any other person via UPI?" comment="subhead" text="Will this affect payments to friends, family or any other person via UPI?">Will this affect payments to friends, family or any other person via UPI?</cmsannotation> Payments made via UPI to friends, family or any other individual or a merchant’s bank account will not be affected by this interchange fee. Essentially, peer-to-peer (P2P), and peer-to-peer-merchant (P2PM) transactions remain unaffected. You will be able to send money from your bank account to another person or merchant’s bank account via UPI without any charges. <cmsannotation type="cmsannotation" annotationid="What is a prepaid payment instrument?" comment="subhead" text="What is a prepaid payment instrument?">What is a prepaid payment instrument?</cmsannotation> Wallets, preloaded gift cards are prepaid payment instruments (PPI). Some examples of wallets include <keyword id="3032681" type="General" weightage="20" keywordseo="paytm-wallet" source="Orion">Paytm Wallet</keyword>, PhonePe Wallet, Amazon Pay, Freecharge Wallet, etc. Gift cards include <cmsannotation type="cmsannotation" annotationid="What is a PPI payment via UPI?" comment="subhead" text="What is a PPI payment via UPI?">What is a PPI payment via UPI?</cmsannotation> A PPI payment via UPI means a transaction done via a wallet, like Paytm Wallet, through a UPI QR code. For instance, if you have money in your Paytm Wallet and want to make a payment via a merchant’s UPI QR code, then on transactions above ₹2,000, an interchange fee of up to 1.1% will be levied. <cmsannotation type="cmsannotation" annotationid="What is the interchange fee?" comment="subhead" text="What is the interchange fee?">What is the interchange fee?</cmsannotation> Interchange fee is a fee that is charged by the receiver bank/payment service provider to the merchant. <cmsannotation type="cmsannotation" annotationid="Who will pay these charges?" comment="subhead" text="Who will pay these charges?">Who will pay these charges?</cmsannotation> For example, if you are making a PPI payment via UPI at a store, and the QR code is that of PhonePe, then PhonePe will receive the applicable interchange fee from the merchant. This is similar to how merchants are charged for payments made by users via credit cards – also known as merchant discount rate (MDR). Users will not be charged for these transactions. In case of loading money in wallets via UPI, you will not have to pay any charges just yet – that is of course until wallet providers like Paytm and PhonePe, among others, decide to pass on the charge to users. <cmsannotation type="cmsannotation" annotationid="Which transactions will be affected because of this?" comment="subhead" text="Which transactions will be affected because of this?">Which transactions will be affected because of this?</cmsannotation> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Merchant category </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Interchange fee </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Max. charges </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Convenience stores </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.1% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Statutory payments </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.0% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mutual fund </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.0% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Insurance </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.0% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Railways </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.0% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Supermarket </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.9% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.7% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Utilities </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.7% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.7% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agriculture </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.7% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Real estate </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.7% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fuel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.5% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/increased-competition-delayed-tariff-hikes-could-effectively-lead-to-a-jio-airtel-duopoly/articleshow/99065537.cms">Increased competition, delayed tariff hikes could effectively lead to a Jio-Airtel duopoly</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-tumble-eroding-53291-crore-market-capitalisation-today/articleshow/99057169.cms">Adani group stocks tumble, eroding ₹58,240 crore market capitalisation: All ten stocks close in red</a> <a href="https://www.businessinsider.in/tech/news/top-chatgpt-4-plugins-from-math-physics-and-language-tutor-to-vacation-planner/articleshow/99036667.cms">Top ChatGPT 4 plugins: From math, physics and language tutor to vacation planner</a>

Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments

The Gujarat Cooperative Milk Marketing Federation (GCMMF) on Saturday hiked the <keyword id="26280" type="General" weightage="100" keywordseo="amul" source="Orion">Amul</keyword> milk price by Rs 2 per litre in the state. This marks the first increase in milk prices since the state Assembly elections in December 2022. The GCMMF, which is the apex body of milk cooperatives in the state, typically announces milk price hikes in advance but did not do so this time. Sources suggest that the rise in cost of milk production due to increasing fodder and transportation prices has led to the price hike. After the price revision, the cost of Amul buffalo milk is now Rs 68 per litre, while <keyword id="1033609" type="General" weightage="50" keywordseo="amul-gold" source="Orion">Amul Gold</keyword> is priced at Rs 64 per litre, and <keyword id="1033610" type="General" weightage="50" keywordseo="amul-shakti" source="Orion">Amul Shakti</keyword> at Rs 58 per litre. <keyword id="7654796" type="General" weightage="50" keywordseo="amul-cow-milk" source="Orion">Amul Cow Milk</keyword> is now priced at Rs 54 per litre, <keyword id="8729571" type="General" weightage="50" keywordseo="amul-tazaa" source="Orion">Amul Tazaa</keyword> at Rs 52 per litre, and Amul T-special at Rs 60 per litre. While the prices of different brands of Amul milk were hiked twice across India by GCMMF in the last six months, Gujarat was exempted. However, ahead of the Assembly elections in the state, Amul had raised prices by Rs 2 per litre in October 2022, and then by another Rs 3 in February 2023 for all markets, except Gujarat. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/no-festive-cheer-for-auto-cos-in-march-pv-sales-flattish-2ws-to-see-a-slight-uptick/articleshow/99145011.cms">No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

Amul hikes milk price by ₹2/ltr in Gujarat

As <keyword id="6355315" type="General" weightage="50" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> gears up to start removing legacy verified <keyword id="6380502" type="General" weightage="80" keywordseo="blue" source="Orion">Blue</keyword> check marks from Saturday, the <keyword id="6356037" type="General" weightage="100" keywordseo="white-house" source="Orion">White House</keyword> is reportedly not going to pay to have its staff's official Twitter profiles continue to be verified. According to a report in Axios, White House director of digital strategy, <keyword id="17004455" type="General" weightage="50" keywordseo="rob-flaherty" source="Orion">Rob Flaherty</keyword>, has sent guidance to the staffers via an email. "It is our understanding that <keyword id="11265742" type="General" weightage="50" keywordseo="twitter-blue" source="Orion">Twitter Blue</keyword> does not provide person-level verification as a service. Thus, a blue check mark will now simply serve as a verification that the account is a paid user," the email read. The guidance doesn't necessarily apply to government agencies, but according to the report, citing a source familiar with White House plans, it may send guidance to some agencies and departments in the future. Some White House officials, like the President and Vice President, will likely continue to be verified with a grey checkmark. In his email, Flaherty said that as per Twitter's updated policies, it will no longer be able to guarantee verification for federal agency accounts that do not meet its new eligibility requirements. Meanwhile, the micro-blogging platform Twitter on Friday announced that its 'Verification for Organisations' service is now available globally. According to the company, Verified Organisations is a new way for organisations and their affiliates to differentiate themselves on the micro-blogging platform. Accounts, which are affiliated with the organisation, will receive an affiliate badge on their profile with the business's logo, and will also be featured on the organisation's Twitter profile, showing their connection. "All organisations are vetted before they can join Verified Organisations," the company mentioned. 'Verification for Organisations' service was earlier called 'Blue for Business'. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/no-festive-cheer-for-auto-cos-in-march-pv-sales-flattish-2ws-to-see-a-slight-uptick/articleshow/99145011.cms">No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

White House refuses to pay for Twitter's Blue verification: Report

Authorities in Italy have blocked chatbot ChatGPT with immediate effect in the country. With this, Italy becomes the first European country to block the advanced <keyword id="107950" type="General" weightage="50" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> software, which is capable of emulating and elaborate human conversations among other actions. <keyword id="16999384" type="General" weightage="80" keywordseo="italian-data-protection-authority" source="Orion">Italian data protection authority</keyword> on Friday (local time) has said that it is blocking the Microsoft backed chatbot developed by US start up <keyword id="3169059" type="General" weightage="80" keywordseo="openai" source="Orion">OpenAI</keyword> and will investigate whether it complied with the country's General Data Protection Regulation. A data breach affecting ChatGPT users' conversations and information on payments by subscribers to the service had been reported on March 20, the Italian watchdog said. Several countries like China, Russia, Iran and North Korea have blocked ChatGPT, which came into existence in November 2022. The Italian Data Protection <keyword id="44771" type="General" weightage="80" keywordseo="authority" source="Orion">Authority</keyword> (<keyword id="12119118" type="General" weightage="50" keywordseo="garante" source="Orion">Garante</keyword> per la protezione dei dati personali) said it has opened an investigation against ChatGPT and the US Company OpenAI. "No way for ChatGPT to continue processing data in breach of privacy laws. The <keyword id="17005578" type="General" weightage="80" keywordseo="italian-sa" source="Orion">Italian SA</keyword> imposed an immediate temporary limitation on the processing of Italian users' data by OpenAI, the US-based company developing and managing the platform. An inquiry into the facts of the case was initiated as well," the Authority stated as per a release on its website. The authority said that it noted the lack of information to users and all interested parties whose data is collected by OpenAI, but above all the absence of a legal basis that justifies the mass collection and storage of personal data, for the purpose of "train" the algorithms underlying the operation of the platform. The Italian SA emphasizes in its order that the lack of whatever age verification mechanism exposes children to receiving responses that are absolutely inappropriate to their age and awareness, even though the service is allegedly addressed to users aged above 13 according to OpenAI's terms of service. OpenAI is not established in the EU, however, it has designated a representative in the European Economic Area. The Italian data protection authority said that OpenAI has to notigy within 20 days of the measures implemented to comply with the order, otherwise, a fine of up to EUR 20 million or 4 per cent of the total worldwide annual turnover may be imposed. In its order, the Italian SA highlights that no information is provided to users and data subjects whose data are collected by Open AI; more importantly, there appears to be no legal basis underpinning the massive collection and processing of personal data in order to 'train' the algorithms on which the platform relies. As confirmed by the tests carried out so far, the information made available by ChatGPT does not always match factual circumstances, so inaccurate personal data are processed, the Data Protection Authority of Italy said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/no-festive-cheer-for-auto-cos-in-march-pv-sales-flattish-2ws-to-see-a-slight-uptick/articleshow/99145011.cms">No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

Italy bans ChatGPT, orders investigation over privacy breach

Worried whether your cough, sore throat and congestion is Covid-19 or flu? A new ultra-thin sensor may help you understand in just 10 seconds. Scientists from the <keyword id="159191" type="General" weightage="50" keywordseo="university-of-texas" source="Orion">University of Texas</keyword> at Austin used a single-atom-thick nanomaterial to build a device that can simultaneously detect the presence of the viruses that cause Covid-19 and the flu -- at much lower levels and much more quickly than conventional tests for either. They presented their results at the ongoing spring meeting of the American Chemical Society (ACS) in the US. The symptoms of both flu and Covid-19 overlap considerably, making it difficult to distinguish between them, said <keyword id="16974926" type="General" weightage="50" keywordseo="deji-akinwande" source="Orion">Deji Akinwande</keyword>, from the varsity. "When both of these viruses are circulating together as they did earlier this winter, it would be immensely useful to have a sensor that can simultaneously detect whether you have <keyword id="8764262" type="General" weightage="100" keywordseo="covid" source="Orion">Covid</keyword>, flu, none of the above or both," he said. Akinwande stated that the device he and colleagues are developing could be modified to test for other infections as well. The team constructed the Covid-19 and flu sensor using graphene, a single layer of carbon atoms arranged in a hexagonal lattice pattern. Its extreme thinness renders graphene highly sensitive to any electrical changes in its environment. To build the infection sensor, the researchers had to make graphene respond to the presence of viral protein. To do so, they looked to the immune system, which produces antibodies that are fine-tuned to recognise and latch onto particular pathogens. The researchers then linked antibodies against SARS-CoV-2, the virus that causes Covid-19, and against the flu virus to graphene. When a sample from an infected person is placed on the sensor, these antibodies bind to their target proteins, prompting a change in the electrical current. They tested the sensor using proteins from these active flu or SARS-CoV-2 viruses delivered in fluid intended to resemble saliva. Their results indicated that not only could the sensor detect the presence of the proteins, it could do so when they were present at extremely low quantities. This sensitivity suggested the sensor could be used for detecting the much more sparse viral particles found in breath, Akinwande said. The sensor also worked quickly, returning results within about 10 seconds of dropping in a sample, he said. By comparison, conventional Covid-19 tests can take minutes or hours, depending on the type, and a dual Covid and flu test recently authorised by the <keyword id="6356255" type="General" weightage="50" keywordseo="us-food-and-drug-administration" source="Orion">US Food and Drug Administration</keyword> takes about half an hour to produce results. Akinwande and his team are now working to improve its performance further, including by expanding the slate of viruses it can detect. They are developing a sensor designed to test for SARS-CoV-2 variants, such as Omicron and Delta. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tax-hit-on-debt-funds-is-just-the-latest-punch-to-reeling-mutual-fund-companies/articleshow/99081740.cms">Tax hit on debt funds is just the latest punch to reeling mutual fund companies</a>

Worried if your cold is Covid? New ultra-thin sensor to help detect Covid & flu in 10 secs

Researchers at the Indian Institute of Science (IISc) have designed a novel, tiny device capable of storing an enormous amount of electric charge. The ultra-micro supercapacitor is also much smaller and more compact than existing supercapacitors and can potentially be used in many devices ranging from streetlights to consumer electronics, electric cars and medical devices, according to Bengaluru-based IISc. Most of these devices are currently powered by batteries. However, over time, these batteries lose their ability to store charge and therefore have a limited shelf life, it said. Capacitors, on the other hand, can store electric charge for much longer, by virtue of their design. For example, a capacitor operating at five volts will continue to operate at the same voltage even after a decade. But unlike batteries, they cannot discharge energy constantly - to power a mobile phone, for example. Supercapacitors, on the other hand, combine the best of both batteries and capacitors - they can store as well as release large amounts of energy, and are therefore highly sought-after for next-generation electronic devices. In the current study, published in 'ACS Energy Letters', the researchers from IISc's Department of Instrumentation and Applied Physics (<keyword id="63950" type="General" weightage="80" keywordseo="iap" source="Orion">IAP</keyword>), fabricated their supercapacitor using 'Field Effect Transistors' or FETs as the charge collectors, instead of the metallic electrodes that are used in existing capacitors. "Using <keyword id="2298292" type="General" weightage="80" keywordseo="fet" source="Orion">FET</keyword> as an electrode for supercapacitors is something new for tuning charge in a capacitor," <keyword id="17005548" type="General" weightage="80" keywordseo="abha-misra" source="Orion">Abha Misra</keyword>, Professor at IAP and corresponding author of the study, was quoted as saying in an IISc statement issued on Friday. Current capacitors typically use metal oxide-based electrodes, but they are limited by poor electron mobility. Therefore, <keyword id="121202" type="General" weightage="80" keywordseo="misra" source="Orion">Misra</keyword> and her team decided to build hybrid FETs consisting of alternating few-atoms-thick layers of molybdenum disulphide (MoS2) and graphene - to increase electron mobility - which are then connected to gold contacts. A solid gel electrolyte is used between the two FET electrodes to build a solid-state supercapacitor. The entire structure is built on a silicon dioxide/silicon base. Misra says, "The design is the critical part, because you are integrating two systems." The two systems are the two FET electrodes and the gel electrolyte, an ionic medium, which have different charge capacities, she added. Vinod Panwar, PhD student at IAP and one of the lead authors, adds that it was challenging to fabricate the device to get all the ideal characteristics of the transistor right. Since these supercapacitors are very small, they cannot be seen without a microscope, and the fabrication process requires high precision and hand-eye coordination. Once the supercapacitor was fabricated, the researchers measured the electrochemical capacitance or charge-holding capacity of the device by applying various voltages. They found that under certain conditions, the capacitance increased by 3,000 per cent. By contrast, a capacitor containing just MoS2 without graphene showed only an 18 per cent enhancement in capacitance under the same conditions. In the future, the researchers are planning to explore if replacing MoS2 with other materials can increase the capacitance of their supercapacitor even more. They add that their supercapacitor is fully functional and can be deployed in energy-storage devices like electric car batteries or any miniaturised system by on-chip integration. They are also planning to apply for a patent on the supercapacitor. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/no-festive-cheer-for-auto-cos-in-march-pv-sales-flattish-2ws-to-see-a-slight-uptick/articleshow/99145011.cms">No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

IISc researchers design tiny supercapacitor capable of storing large amount of electric charge

<ul><li>Spouses of H-1B visa holders can now work in the US, according to a new ruling by a US district court judge. </li><li>This comes amidst a slowdown in the critical tech sector which has seen<a href="https://www.businessinsider.in/careers/news/first-82-days-of-2023-see-more-layoffs-than-the-entire-2022/slidelist/98960848.cms"> more layoffs in the first three months of 2023</a> compared to the whole of 2022. </li><li>Big tech companies like Apple, Google and Microsoft opposed the lawsuit. </li></ul>Spouses of H-1B visa holders can now work in the US, ruled a US district court judge on Wednesday, in a major relief to Indian workers in the country. This comes amidst a slowdown in the critical tech sector that has seen<a href="https://www.businessinsider.in/careers/news/first-82-days-of-2023-see-more-layoffs-than-the-entire-2022/slidelist/98960848.cms"> more layoffs in the first three months of 2023</a> compared to the whole of last year. US District Judge Tanya Chutkan dismissed a lawsuit filed by Save Jobs USA, which had opposed an Obama-era rule that allowed spouses of certain categories of H-1B visa holders to get jobs. Big tech companies like Apple, Google and Microsoft opposed the lawsuit, which should come as no surprise given the fact that foreign-origin workers formed 16.7% of the total labour workforce in 2014, according to the latest data from US Bureau of Labor Statistics. According to a 2017 report by the National Science Foundation, Indian immigrants made up the second largest group of foreign-origin workers in science and engineering jobs in the US. Indian citizens are also amongst the largest group of H-1B visa holders – these visas are generally used by US tech companies to employ skilled foreign workers. Despite the large number of layoffs in the tech sector worldwide in 2022 and 2023, H-1B visas continue to be in high demand – according to the US Citizenship and Immigration Services, the H-1B visa cap for FY24 has already been reached. The limit for FY24 has been set at 65,000 by the US Congress. <cmsannotation type="cmsannotation" annotationid="Working to cut visa appointment times by half, says US" comment="subhead" text="Working to cut visa appointment times by half, says US">Working to cut visa appointment times by half, says US</cmsannotation> The wait times for US visas has been excruciatingly high for Indian nationals, touching a high of nearly three years in 2022. Since then, however, there has been a reduction in the waiting period, but Indians still have to wait between 10-20 times longer than nationals of other Asian countries like China to obtain a US visa. According to US State Department<a href="https://travel.state.gov/content/travel/en/us-visas/visa-information-resources/global-visa-wait-times.html"> data</a>, the current wait times for Indians applying for a US visa stands at 500-600 days, while those applying for a work visa will have to wait anywhere between 60-280 days. In sharp contrast, a Chinese or Sri Lankan national has to wait only 35 days for a US visa. Applicants from Europe have to wait only 20 days. “Our consular teams across India are putting in the extra hours to meet the needs of international travellers and bring down wait times,” said John Ballard, consular chief at US Consulate General Mumbai. For context, the US Embassy in India had issued over 1 lakh visas in January this year. It had also issued 1.25 lakh student visas in 2022, the highest in any year so far. “The visa operations in India are very different from any other country because of the range of visas and the massive demand,” said Julie Stufft, deputy assistant secretary for consular affairs. To reduce wait times, interview requirements have been waived off for the time being for regular travellers. (With inputs from PTI) SEE ALSO: <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a> <a href="https://www.businessinsider.in/business/telecom/news/increased-competition-delayed-tariff-hikes-could-effectively-lead-to-a-jio-airtel-duopoly/articleshow/99065537.cms">Increased competition, delayed tariff hikes could effectively lead to a Jio-Airtel duopoly</a> <a href="https://www.businessinsider.in/finance/banks/news/rbis-mpc-could-pause-rate-hikes-in-april-to-gauge-the-impact-of-hikes-so-far-sbi-research/articleshow/99030220.cms">RBI’s MPC could pause rate hikes in April to gauge the impact of hikes so far: SBI Research</a>

US visa rules ease: Now H-1B visa holders' spouses can work in the US

<ul><li>Banks, the backbone of the Indian economy, and the IT sector have emerged as the alpha creators of the Indian equity markets. </li><li>Every year since at least 2012, one of these two critical sectors has beaten the benchmark <keyword id="2931774" type="General" weightage="20" keywordseo="Nifty50" source="Orion">Nifty50</keyword> index – often by a huge margin. </li><li>Heading into FY24, analysts find comfort in the strength of Indian banks and Tier 1 IT companies, while the benchmark Nifty50 index could end 2023 on a negative note. </li></ul>Banks, which are the backbone of the Indian economy, and the IT sector have emerged as the alpha creators of the Indian equity markets. Every year since at least 2012, one of these two critical sectors has beaten the benchmark Nifty50 index – often by a huge margin. The term ‘alpha creators’ refers to securities that generate excess returns when compared to a benchmark without any additional risk. Together, banks and <keyword id="88972" type="General" weightage="20" keywordseo="IT-stocks" source="Orion">IT stocks</keyword> constitute 41% of the market capitalisation of the benchmark Nifty50 index. Of the broader Nifty500 index, these two sectors alone account for 31% of the market capitalisation, underlining their impact on the Indian equity markets. However, banking and IT stocks have not always moved in the same direction since 2012 – in fact, in 6 out of the 11 years in consideration, these two sectors have moved in the opposite direction. An analysis by Motilal Oswal has put a number to this stark contrast in the performance of India’s two alpha creators – the average divergence of these two sectors stands at 37%. <div type="image" title="Nifty Bank vs Nifty IT vs Nifty50 returns 2012-23." msid="99114775" hostid="261" sizebytes="22708" caption="&amp;lt;p&amp;gt;Nifty Bank vs Nifty IT vs Nifty50 returns 2012-23&amp;lt;/p&amp;gt;"></div> “The Bank and IT indices exhibited a stark divergence in yearly returns, with these two indices outperforming alternately over calendar year 2012-22. More importantly, the quantum of relative performance gap between the two sectors was over 40% in 6 out of the 11 years and over 10% in 10 out of 11 years,” said the Motilal Oswal report. <cmsannotation type="cmsannotation" annotationid="Disruptions lead to higher divergence" comment="subhead" text="Disruptions lead to higher divergence">Disruptions lead to higher divergence</cmsannotation> The divergence in the performance of these three indices was even more exaggerated during macroeconomic or geopolitical disruptions such as GST, demonetisation, the Covid-19 pandemic and the Russia-Ukraine war. In fact, since the Covid-19 pandemic, the <keyword id="3194921" type="General" weightage="20" keywordseo="Nifty-IT" source="Orion">Nifty IT</keyword> index has outperformed the <keyword id="722345" type="General" weightage="80" keywordseo="nifty-bank" source="Orion">Nifty Bank</keyword> and the <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword>50 indices by a huge margin – at average returns of 22% from 2020 till date, the Nifty IT is far ahead of the Nifty50’s 9% gains, while the Nifty Bank posted 6% returns. The thesis of banks and IT stocks being alpha creators holds good in the long term, too. The Nifty Bank index has emerged on the top with average returns of 17% from 2012 till date, while the Nifty IT index is a close second at 16%. The Nifty50, on the other hand, has clocked a relatively modest growth of 12%. <cmsannotation type="cmsannotation" annotationid="Reading the tea leaves: A peek into FY24" comment="subhead" text="Reading the tea leaves: A peek into FY24">Reading the tea leaves: A peek into FY24</cmsannotation> Heading into the new financial year, brokerages find comfort in how<a href="https://www.businessinsider.in/finance/banks/news/indian-banks-better-placed-than-their-us-peers-due-to-attractive-valuations-and-stickier-deposits/articleshow/98859627.cms"> Indian banks are placed</a>, thanks to<a href="https://www.businessinsider.in/finance/banks/news/indian-banks-decade-best-metrics-and-subdued-valuations-make-them-a-compelling-buy-bernstein/articleshow/98359442.cms"> attractive valuations</a> and stickier deposits at a time when interest rates are nearing their peaks. Indian banks have also passed<a href="https://www.businessinsider.in/finance/banks/news/indian-banks-pass-jefferies-silicon-valley-bank-test-brokerage-finds-them-well-placed/articleshow/98628328.cms"> Jefferies’ SVB test</a> – the brokerage said banks are well-placed due to high quality deposits and less reliance on investments in securities. The other alpha creator – the IT sector –<a href="https://www.businessinsider.in/business/corporates/news/gap-between-tcs-infosys-and-other-smaller-indian-it-companies-to-increase-in-fy24/articleshow/98308333.cms"> could see some headwinds</a> primarily due to<a href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms"> recessionary concerns</a>. Analysts at Kotak Institutional Equities underlined that the gap between the leaders and laggards of the IT sector will widen in FY24. Tier 1 companies like Tata Consultancy Services (TCS) and Infosys are well-positioned to take advantage of a focus on efficiency, widening their lead over the smaller players in the sector. As for the benchmark Nifty50 index, analysts now expect it to register a decline in 2023 – it has already wiped out all the gains it had made since September 2021 due to geopolitical tensions, elevated inflation and a higher interest rate regime. Strategists at the Bank of America have trimmed the target for the Nifty50 by nearly 8% from 19,500 to 18,000 by the end of 2023. The Nifty50 started 2023 at 18,200 points. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a> <a href="https://www.businessinsider.in/business/telecom/news/increased-competition-delayed-tariff-hikes-could-effectively-lead-to-a-jio-airtel-duopoly/articleshow/99065537.cms">Increased competition, delayed tariff hikes could effectively lead to a Jio-Airtel duopoly</a> <a href="https://www.businessinsider.in/business/corporates/news/layoffs-coming-to-the-indian-it-sector-analysts-say-accentures-jobs-cuts-offers-a-blueprint/articleshow/98970175.cms">Layoffs coming to the Indian IT sector? Analysts say Accenture’s jobs cuts offers a ‘blueprint’</a>

The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years

Adani group stocks stage a rebound led by Adani Enterprises: Group market capitalisation rises by ₹25,575 crore

<ul><li>There is a consensus amongst analysts that FY24 would ring in high single-digit growth for the Indian automobile as well as auto component sectors despite export headwinds. </li><li>CareEdge expects two-wheeler and three-wheeler sales volumes to cross pre-pandemic levels in the next financial year. </li><li>Price hikes due to BS6 Phase 2 norms and inflationary pressures, El Niño and its impact on the rural sentiments will be amongst the key factors to watch out for in FY24. </li></ul>The Indian auto industry is expected to register sales volume growth of 7-9% in FY24, building on the robust momentum of FY23, according to a report by CareEdge. Passenger vehicle (PV) and commercial vehicle (CV) segments are both expected to drive growth in the next financial year, with the latter especially benefiting from the government’s thrust on capital expenditure. Despite a challenging global environment in FY23, Indian auto companies made the most of the first disruption-free year after the Covid-19 pandemic. Overall, domestic sales rose 21% year-on-year in the 11 months of FY23 when compared to the same period in FY22. Urban demand, festive sales and pre-buying due to the BS6 Phase 2 transition helped boost the overall volumes – once again driven by passenger vehicles and commercial vehicles – despite supply chain challenges and a semiconductor chip shortage, according to the research firm. Exports, however, registered a decline of 14% in the 11 months of FY23, largely on account of weakness in foreign markets. <cmsannotation type="cmsannotation" annotationid="Analysts expect high single-digit growth in FY24" comment="subhead" text="Analysts expect high single-digit growth in FY24">Analysts expect high single-digit growth in FY24</cmsannotation> There is a consensus amongst analysts that FY24 would ring in high single-digit growth for the Indian automobile as well as auto component sectors despite export headwinds. “The growth momentum is expected to continue after the robust demand seen in FY23, supported by favourable demand sentiments and various government initiatives for rural and urban development,” said Tanvi Shah, director, CareEdge. According to a report by ratings agency ICRA, the auto components industry is also expected to witness 5% to 8% growth in revenue in FY24, primarily due to strong demand from the domestic market. “Over the long term, opportunities in the electric vehicle market, premiumisation of vehicles, a focus on localisation, improved export potential, and changes in regulatory norms will result in healthy growth for auto component suppliers,” ICRA said. The ratings agency underlined that the rise in mobility due to the reopening of schools and offices, improved freight movement and purchases being pushed back due to elevated inflation should boost sales in FY24. “We believe, in the coming months, with a favourable base for both PVs and 2-wheelers till H1 FY24, maintaining current retail volume levels would help both the segments deliver 10%+ growth in FY24E,” said a report by ICICI Securities. <cmsannotation type="cmsannotation" annotationid="2W and 3W sales expected to rise to pre-pandemic levels" comment="subhead" text="2W and 3W sales expected to rise to pre-pandemic levels">2W and 3W sales expected to rise to pre-pandemic levels</cmsannotation> Sales in the two-wheeler (2W) segment have stagnated in the past three months due to factors like continued price hikes, hot inflation and weakness in rural demand. <keyword id="6359783" type="General" weightage="80" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword>, which depends heavily on exports, also bore the brunt of weakness in key foreign markets like Nigeria. Its exports declined to 45% of its total sales in February 2023, from 52% in January 2022. While the threat of El Niño still looms large and could play spoilsport for two-wheeler sales by affecting crop output and hence incomes in rural areas –traditionally a large market for 2Ws, analysts at CareEdge remain optimistic about not just 2Ws but also three-wheeler sales going into FY24. The ratings agency expects sales volumes in these two segments to cross pre-pandemic levels in the next financial year. <cmsannotation type="cmsannotation" annotationid="What to watch for in FY24 – steep price hikes, El Niño and rural sentiments" comment="subhead" text="What to watch for in FY24 – steep price hikes, El Niño and rural sentiments">What to watch for in FY24 – steep price hikes, El Niño and rural sentiments</cmsannotation> Analysts also underlined factors which could have a significant impact on the auto industry’s performance in the upcoming financial year, ranging from price hikes to weather. The implementation of BS6 Phase 2 norms from April 1, 2023 is expected to drive steep price hikes – leading automakers like <keyword id="42747" type="General" weightage="50" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, Hero MotoCorp,<a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-announces-price-hike-cars-to-get-costlier-by-1-1-from-today/articleshow/97022345.cms"> Maruti Suzuki</a> and Honda have already<a href="https://www.businessinsider.in/business/news/time-to-buy-your-new-hot-wheels-automakers-set-to-increase-prices-of-vehicles-to-meet-stricter-emission-norms/articleshow/98940916.cms"> announced</a> price hikes. The adherence to new emission norms, in addition to inflationary pressures, could lead to more price hikes down the road and “potentially affect demand”, according to CareEdge. El Niño could lead to a drier year and further dampen rural sentiments, which could delay the much-anticipated recovery in the two-wheeler segment and derail tractor sales. However, overall, the Indian auto industry looks well placed heading into FY24 – the passenger and commercial vehicle segments are expected to retain their momentum, while the two- and three-wheeler sales are expected to inch back to pre-pandemic levels. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-stage-a-rebound-led-by-adani-enterprises-group-market-capitalisation-rises-by-22011-crore/articleshow/99084630.cms">Adani group stocks stage a rebound led by Adani Enterprises: Group market capitalisation rises by ₹22,011 crore</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a> <a href="https://www.businessinsider.in/business/telecom/news/increased-competition-delayed-tariff-hikes-could-effectively-lead-to-a-jio-airtel-duopoly/articleshow/99065537.cms">Increased competition, delayed tariff hikes could effectively lead to a Jio-Airtel duopoly</a>

India auto sales seen rising 7-9% in FY24: Passenger & commercial vehicles to drive demand

<ul><li>India’s auto sector could be looking at mixed performance in March, with some segments likely to clock better growth than others. </li><li>Passenger vehicles, one of the segments that have been driving sales in the past few months, could be looking at a flat March. </li><li>Commercial vehicles are expected to continue growing thanks to infrastructure-led demand seeing a healthy fleet utilisation in the medium to heavy commercial vehicles (MHCV) category. </li></ul>The Indian auto sector could be looking at mixed performance in March due to a combination of erratic rainfall dampening demand for light commercial vehicles (LCVs), and a moderation in demand for passenger vehicles (PVs) during the month, as observed by analysts at <keyword id="46252" type="General" weightage="80" keywordseo="motilal-oswal" source="Orion">Motilal Oswal</keyword>. The brokerage expects a slight uptick in demand for two-wheelers during the month on account of festivals and a low base of the previous year. However, concerns about weakness in the rural markets could drag down the overall numbers. Passenger vehicles, which were in the driver’s seat for a few months now, are expected to clock ‘flattish’ growth during March. “There has been some moderation in enquiries led by muted demand during ongoing festivals and persistent weakness in the rural market,” said the Motilal Oswal report. <cmsannotation type="cmsannotation" annotationid="Commercial vehicles to drive growth" comment="subhead" text="Commercial vehicles to drive growth">Commercial vehicles to drive growth</cmsannotation> The brokerage expects the commercial vehicle segment to drive growth in the auto sector in March. More specifically, the medium and heavy commercial vehicles segment is expected to register a 10-12% year-on-year rise in sales due to “healthy fleet utilisation driven by infra-led demand and pre-buying before OBD-2 transition.” On the other hand, the light commercial vehicle segment is expected to register a decline of 8-10%n due to erratic rainfall and subdued rural sentiments. Unseasonal rains could also weigh on tractor sales, which could decline 3-5% due to expectations of a low Rabi output. <cmsannotation type="cmsannotation" annotationid="Moderation in passenger vehicle sales: High interest rates hurt bookings" comment="subhead" text="Moderation in passenger vehicle sales: High interest rates hurt bookings">Moderation in passenger vehicle sales: High interest rates hurt bookings</cmsannotation> The entry-level segments have been hurting across the passenger vehicle and two-wheeler segments for a while now. So far, weak rural sentiments and elevated inflation were behind the weak performance of the entry-level segment, but now, analysts suggest high interest rates are also adding to the slowdown. “Moreover, rising interest rates have further hampered bookings for low-end models. Although the inventory level has increased to 25-30 days in March versus 20-25 days till February end, it has now come back to the normal level after three years,” the brokerage said. Sports utility vehicles (SUV) continue to be in demand, with waiting periods still being long. For instance, M&amp;M’s popular duo of SUVs, the Scorpio-N and XUV 700 have a waiting period of 3-10 months, and 2-5 months, respectively. The Thar, too, has a waiting period of nearly a month. <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>’ Nexon, on the other hand, has a waiting period of 4-6 weeks. Despite a moderation in demand, discounts have been muted, the brokerage noted, adding that it expects M&amp;M’s sales to rise 16% year-on-year, while Tata Motors could see a modest 3% growth. Market leader <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> is expected to report a 3% fall in dispatches. <cmsannotation type="cmsannotation" annotationid="Slight uptick in two-wheeler sales, but rural demand still weak" comment="subhead" text="Slight uptick in two-wheeler sales, but rural demand still weak">Slight uptick in two-wheeler sales, but rural demand still weak</cmsannotation> Two-wheeler sales have been struggling for a few months now and the pressure is expected to temper a bit during March, with a slight uptick resulting in a 4-6% YoY increase in retail sales, thanks to steady urban demand. However, erratic rains could dampen two-wheeler sales as well, with rural demand still remaining weak. “Overall sales are still down by 15-17% versus the pre-Covid level as rural demand remains weak,” the Motilal Oswal report added. The brokerage also witnessed a large variation in enquiries across states during festivals – while Gujarat, Delhi and Karnataka saw a 2-6% YoY increase in enquiries, UP, Bihar and Maharashtra reported a 4-8% decline. Market leader <keyword id="6357252" type="General" weightage="80" keywordseo="hero-motocorp" source="Orion">Hero MotoCorp</keyword> could see a 4% YoY decline in dispatches, while Bajaj Auto and <keyword id="46156" type="General" weightage="50" keywordseo="tvs-motor" source="Orion">TVS Motor</keyword> could see a 5% fall each. Royal Enfield, on the other hand, is expected to report yet another month of growth, with its dispatches expected to increase 10%. Overall, March could be a mixed bag for the Indian auto industry. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-jsw-energy-hero-motocorp-among-stocks-in-focus/articleshow/99131742.cms">Sensex, Nifty50 rally on the last day of FY23: Reliance Industries, Nestle, Infosys, ICICI Bank and Tata Motors top gainers</a> <a href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a>

No festive cheer for auto cos in March: PV sales ‘flattish’, 2Ws to see a slight uptick

<ul><li>OpenAI launched <keyword id="15681942" type="General" weightage="100" keywordseo="ChatGPT" source="Orion">ChatGPT</keyword> in November 2022 and since then, many stories of the chatbot’s uses, mishaps and potential misuse have been reported. </li><li>Travel planning is among the many services that ChatGPT can be used for. </li><li>We tried planning budget and luxury trips with ChatGPT and it provided detailed, sample itineraries with price breakups.</li></ul>Ever since OpenAI launched ChatGPT in November 2022, multiple stories about the artificial intelligence chatbot’s uses, <a href="https://www.businessinsider.in/tech/news/microsoft-bing-chatgpt-gives-death-threats-tries-to-break-a-marriage-and-more/articleshow/98091746.cms">mishaps</a> (hilarious and otherwise), and potential misuse have been reported. However, what no one can deny is that ChatGPT is here to stay and has the potential to change many things, including travel planning. At present, most tour companies offer fixed packages that may not always incorporate customers’ requirements, especially if they’re diverse in nature – for instance, combining temple tours with bar crawls, floating market tours, flea markets and a trip to the elephant sanctuary in Thailand. The other alternative – to pick and choose activities, involves a lot of effort. Travellers will need to crawl through hundreds of sites advertising the best attractions and hidden wonders, check prices, manage the budget and handle multiple separate bookings to finally arrive at an itinerary. The effort multiplies if it’s not a solo trip. ChatGPT, essentially, minimises the intensive effort and gives you different options. When it comes to planning trips, ChatGPT works as a better-informed, more interactive search engine that collates all available information in one place and in a cohesive manner. And better yet, it takes into account users’ various limitations and expectations to prepare an itinerary, which is most definitely a good starting point. And if you’re confused about where to travel, it can even give relevant suggestions based on your likes and dislikes. Listed below are a few examples of how ChatGPT planned various trips to different destinations at different budget points: <cmsannotation type="cmsannotation" annotationid="Budget trips to famous destinations" comment="subhead2" text="Budget trips to famous destinations">Budget trips to famous destinations</cmsannotation> On being asked about famous destinations to travel to, ChatGPT listed Paris, Bali, New York City, Tokyo and Rome as the top five destinations, along with reasons for why they’re worth visiting. On further inquiry, it revealed that an eight-day-long budget trip to Bali from India could cost anywhere between $500-1,000 i.e. ₹41,000-82,000. To compare, tour operator Make My Trip offers a <a href="https://holidayz.makemytrip.com/holidays/india/package?id=55100&amp;listingClassId=4&amp;pkgType=FIT&amp;fromCity=New%20Delhi&amp;defaultPageForOnlineBookableFIT=true&amp;intid=Seo_DOM_Holiday_pkg_name_click&amp;affiliate=MMT&amp;depDate=2023-05-07">10-day trip for ₹84,000, after a 25% discount</a>. The chatbot also generated a day-by-day sample itinerary with price breakup when prompted. Please find below a part of the itinerary: Day 1: Arrival in Bali Airport transfer to accommodation in Kuta or Seminyak (₹1,000-1,500) Spend the day exploring the nearby beaches and local markets (free) Dinner at a local warung (small local restaurant) (₹200-400) Day 2: Ubud Private taxi to Ubud (₹1,500-2,000) Visit the Monkey Forest Sanctuary (₹50-100 entrance fee) Explore the Ubud Art Market (free) Lunch at a local warung (₹200-400) Visit the Tegalalang Rice Terrace (₹10,000 for a swing ride) Return to accommodation in Kuta or Seminyak by private taxi (₹1,500-2,000) Day 3: Nusa Penida Island Take a ferry to Nusa Penida Island (₹1,500-2,000 round-trip ferry ticket) Visit the Broken Beach and Angel's Billabong (free) Lunch at a local warung (₹200-400) Visit the Kelingking Beach viewpoint (free) Return to accommodation in Kuta or Seminyak by private taxi (₹1,500-2,000) <cmsannotation type="cmsannotation" annotationid="Luxury trips to lesser-known destinations" comment="subhead2" text="Luxury trips to lesser-known destinations">Luxury trips to lesser-known destinations</cmsannotation> When asked about lesser-known destinations worth visiting, ChatGPT listed Faroe Islands (North Atlantic island group), Lofoten Islands (Norway), Sapa (Vietnam), Leh-Ladakh (India) and Socotra (Yemen). It also listed the major attractions at these destinations. As per ChatGPT, “a luxury trip to Lofoten Islands from India can cost anywhere between ₹2.5-3.5 lakh ($3,400-4,700) per person for a week-long trip, excluding meals and other incidentals.” Most popular tour operators don’t offer a Lofoten Islands trip, which means if this destination is on your bucket list, you need to individually research and plan the trip. Following is part of the sample itinerary that ChatGPT prepared for a week-long trip to Lofoten, with price breakup: Day 1: Arrival in Lofoten Islands Fly from India to Leknes Airport in Lofoten Islands (approximately ₹60,000-70,000 round-trip) Private transfer to luxury hotel in Lofoten Islands (approximately ₹5,000-7,000) Rest of the day at leisure to explore the hotel facilities and nearby area (free) Day 2: Svolvær Private driver/guide for a day trip to Svolvær, one of the main towns in Lofoten Islands (approximately ₹8,000-10,000 for the day) Visit the Lofoten War Museum (entrance fee ₹400-500) Lunch at a local seafood restaurant (approximately ₹2,000-3,000) Enjoy a boat ride to see the Trollfjord (approximately ₹3,000-4,000) Return to hotel in the evening That is not to say that ChatGPT can eliminate all effort required in planning a trip. Travellers still need to cross-reference the sample itinerary and book the trip. It also, naturally, can’t replace the years of experience that many tour guides and travel organisations provide. But, as mentioned earlier, it’s a good starting point to plan for your travels. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/npci-introduces-interchange-fees-on-upi-transactions-done-via-prepaid-payment-instruments/articleshow/99080455.cms">Will UPI payments now attract charges? Decoding NPCI’s interchange fee on UPI transactions via prepaid payment instruments</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/upcoming-smartphones-launching-in-india-in-april-2023/slidelist/99080224.cms">Upcoming smartphones launching in India in April 2023</a>

You Searched For "decoding npci" and got 14 results

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We used ChatGPT to plan international trips - here’s a tour of the results!

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