<ul><li><keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword>’s <keyword id="11911527" type="General" weightage="20" keywordseo="akasa-air" source="Orion">Akasa Air</keyword> has received its first aircraft from Boeing.</li><li>The aircraft will fly to Delhi early next week, even as the airline is yet to receive its air operator permit.</li><li>Akasa Air plans to launch its first domestic flight in July this year.</li><li>It has ordered 72 planes in total and aims to get 18 planes by March 2023.</li></ul>Rakesh <keyword id="45125" type="General" weightage="20" keywordseo="jhunjhunwala" source="Orion">Jhunjhunwala</keyword>’s Akasa Air on Thursday announced that it has received the delivery of its first aircraft, Boeing 737 Max, in Seattle. The airline had shared the first images of its aircraft a couple of weeks ago. Akasa Air has ordered 72 planes in total and aims to get 18 planes by March 2023. "Flying an advanced, environmentally progressive 737 MAX fleet with greater fuel efficiency and lower operating costs will enable Akasa Air to profitably serve the Indian market while passing those savings on to its passengers,” Stan Deal, president and CEO of Boeing Commercial Airplanes, said. “This is indeed a symbolic milestone in the journey of Akasa Air, bringing us one step closer to the process of obtaining our AOP [Air Operator Permit] and leading to out commercial launch, focused on the task of delivering on our vision to transform India’s air transportation ecosystem, support the nation’s economic growth engine and help fellow Indians chase their dreams,” Vinay Dube, founder, MD and CEO of Akasa Air, said. Akasa Air, which is owned by Rakesh Jhunjhunwala, was founded by former Jet Airways chief Dube and former IndiGO president Aditya Ghosh. It has already signed up 154 pilots for the airlines, about 26 of these pilots are already on the company’s payroll. Besides this, it has also signed up 115 cabin attendants and 14 engineers to join the company. The company plans to launch its first domestic flight in July this year. It will be eligible for international travels once it has boarded 20 aircrafts in its fleet. <cmsannotation type="cmsannotation" annotationid="Seventh Indian airline to have a bird in the sky" comment="subhead" text="Seventh Indian airline to have a bird in the sky">Seventh Indian airline to have a bird in the sky</cmsannotation> Akasa Air will be India’s seventh airline with IndiGo, Air India, Vistara, SpiceJet, Go Airlines and Jet Airways, which resumed its operations in April this year Akasa Air is yet to appear before the Director General of Civil Aviation (DGCA) for a proving flight, which is a requirement to get the license of an air operator. The company received its initial no-objection certificate on October 11 and has applied for Air Operator Permit (AOP). SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ril-hdfc-sbi-zomato-among-stocks-to-watch-out-for-on-june-16/slidelist/92242578.cms">RIL, HDFC, SBI, Zomato among stocks to watch out for on June 16</a> <a href="https://www.businessinsider.in/business/startups/news/cashe-is-now-offering-instant-loans-on-whatsapp-in-30-seconds/articleshow/92230354.cms">A company is now offering instant loans on WhatsApp in 30 seconds</a> <a href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-upgrad-is-now-worth-more-than-2-billion/articleshow/92227976.cms">Ronnie Screwvala's UpGrad reportedly worth over $2 billion after fund infusion by Lakshmi Mittal and Sunil Bharti Mittal</a>

Ready to take off – Rakesh Jhunjhunwala's Akasa Air receives its first Boeing aircraft

<ul><li><keyword id="44525" type="General" weightage="80" keywordseo="abg-shipyard" source="Orion">ABG Shipyard</keyword>, one of the most prominent private sector shipyard companies in India, has allegedly defrauded banks of nearly ₹23,000 crore.</li><li>Two systemically important banks, <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword> and <keyword id="13222" type="General" weightage="100" keywordseo="sbi" source="Orion">SBI</keyword>, have an exposure of nearly 44%.</li><li>Here’s a full list of banks with exposure to ABG Shipyard, and how their stocks have reacted to the news.</li></ul>The ABG Shipyard fraud case could be the biggest bank fraud case in the history of India, with an exposure of ₹22,842 crore to a consortium of 28 banks led by the State Bank of India and ICICI Bank. Of the total ₹22,842 crore exposure to ABG Shipyard, there are two domestic systemically important banks – otherwise known as ‘too big to fail’ – ICICI Bank and the state-run SBI. <cmsannotation type="cmsannotation" annotationid="Here’s how much exposure each bank has to ABG Shipyard:" comment="subhead" text="Here’s how much exposure each bank has to ABG Shipyard:">Here’s how much exposure each bank has to ABG Shipyard:</cmsannotation> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Exposure </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share gain/loss </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ICICI Bank </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,089 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.10% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> IDBI Bank </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,639 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.70% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> SBI </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,925 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.20% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Bank of Baroda </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,614 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.30% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> PNB </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,244 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.80% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Others </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,331 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Total </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹22,842 crore </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody><tbody></tbody></table> Note: Share gain/loss as of 10:00 a.m., February 14 As per the FIR filed on SBI’s complaint, a forensic audit conducted by Ernst &amp; Young revealed that from April 2012 to June 2017, loans given to the company were siphoned off and were also used to purchase assets for its related parties. The company allegedly also invested some of those loans in its overseas subsidiary. The primary accused in the case are Rishi Kamlesh Agarwal, the company’s former chairman and managing director, Santhanam Muthaswamy, executive director and three other directors – Sushil Kumar Agarwal, Ashwini Kumar and Ravi Vimal Nevetia. The matter surfaced after an audit conducted by EY pointed towards the alleged fraud. A 2019 complaint by SBI was returned by the CBI, seeking an internal investigation by the bank, including the details of fraud committed on other banks which are a part of the consortium. SBI filed a fresh complaint in September 2020, informing the CBI that staff accountability had been dealt with and closed by the competent authority and it was found that its staff was not involved in the alleged fraud. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-spicejet-adani-enterprises-ongc-and-other-hot-stocks-on-february-14/slidelist/89556333.cms">Adani Wilmar, SpiceJet, Adani Enterprises, ONGC and other hot stocks on February 14</a> <a href="https://www.businessinsider.in/tech/news/what-to-expect-at-apples-march-8-event-iphone-se-3-ipad-air-5-and-new-mac-mini/articleshow/89398279.cms">iPhone SE 3, iPad Air 5 and everything else you need to know about Apple's March 8 event</a> <a href="https://www.businessinsider.in/stock-market/news/ahead-of-lic-ipo-investors-are-selling-insurance-company-stocks/articleshow/89503445.cms">Ahead of LIC IPO, investors are selling insurance company stocks</a>

SBI and ICICI Bank investors pay the price for the nearly ₹10,000 crore lost to the biggest bank fraud ever in India

<ul><li>Fino Payments Bank is likely to announce its share allotment status today.</li><li>The company claims to be the first profitable player in the payments bank space to hit the Indian stock market.</li><li>The IPO of the company was subscribed 2.03 times on the last day of bidding.</li></ul>Navi Mumbai-based fintech company Fino Payments Bank is likely to announce the allotment status of its initial public offering (IPO) today, November 9. The IPO was open for subscription from October 29 to November 1 with a price band of ₹560 - 577 per share. Fino is looking to raise ₹1,200 crore through public listing including ₹900 crore through an offer for sale of 1.56 crore shares and ₹300 fresh issue of 52 lakh shares. The price band of the IPO is set at ₹560-577 per share. The company received good demand from investors, who have oversubscribed the IPO by 2.03 times. The portion reserved for retail investors was oversubscribed by 5.92 times on the last day of the IPO bidding process. However, demand from non-institutional investors was not that good as the portion reserved for non-institutional investors was subscribed just 0.21 times. The company claims to be the <a href="https://www.businessinsider.in/searchresult.cms?query=fino&amp;sortorder=score">first profitable player </a>in the payments bank space to hit the Indian stock market. Paytm is another payments bank firm in line to get listed soon. Here is how to <keyword id="12493050" type="General" weightage="20" keywordseo="fino-payments-bank-ipo-allotment" source="Orion">Fino Payments Bank IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Fino Payments Bank’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Fino Payments Bank’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’. </li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/if-youre-thinking-about-taking-a-gold-loan-ask-these-questions-first/articleshow/87587446.cms">If you’re thinking about taking a gold loan, ask these questions first</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms">There are several problems ailing SpiceJet and the taxman knocking on its doors is just one of them</a>

Here’s how to check Fino Payments Bank IPO allotment status, listing date and more

<ul><li>How to save <keyword id="45031" type="General" weightage="20" keywordseo="tax" source="Orion">tax</keyword> while investing wisely is a crucial part of every working person’s life.</li><li>Let’s make it easy for you and here are a set of options to spread your investments for <keyword id="35453" type="General" weightage="20" keywordseo="tax-saving" source="Orion">tax saving</keyword> purposes.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them</li></ul>The best time to start your tax saving investments is at the beginning of a calendar year or a financial year. While tax planning is important, getting aware of all tax saving schemes and choosing the right one is crucial. Tax saving schemes ensure you don’t pay more taxes and make money in the long run by investing in savings-oriented schemes. Here are some of the best tax saving options with a deduction of up to ₹1.5 lakh in your income tax for the year. Here are a few options of tax saving schemes: ELSS Mutual Fund Equity-linked saving scheme (ELSS) is a type of mutual fund scheme that primarily invests in equity funds. ELSS offers tax benefits to investors. The investments in the scheme are eligible for tax deduction under section 80C of the Income Tax Act, 1961 up to a maximum of ₹1.5 lakh. One can invest through both lump sum and systematic investment plans (SIP) to avail the tax deduction. This way, ELSS offers both investment and tax saving benefits. Here are the five top performing ELSS funds in the industry: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% return in last 3 years </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quant Tax Plan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37.52% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BOI AXA Tax Advantage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30.92% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mirae Asset Tax Saver </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26.53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Robeco Equity Tax Saver </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26.19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDFC Tax Advantage (ELSS) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.54% </td></tr></tbody><tbody></tbody></table>Source: <a href="https://www.valueresearchonline.com/funds/best-tax-savers/?return-period=3Y">Value Research</a> National Savings Certificate (NSC) NSC is a fixed income tax-saving investment plan that you can open with any post office branch. The scheme is an initiative of the government of India and hence is relatively safer. The investment in NSC qualifies for deduction under section 80C of the income tax act of up to ₹1.50 lakh. These certificates earn an annual fixed interest of around 6.8% per annum (revised every quarter by the government), thus guaranteeing a regular income for the investor. The scheme has two types of certificates -- 5-year and 10-year. National Pension Scheme (NPS) NPS is a pension cum investment scheme launched by the government of India to provide old age security to citizens of India. The scheme offers tax saving options to both government and private employees. Any citizen between the age of 18-60 can invest in it. The amount invested by the depositor is invested in several schemes including the equity markets. Again the basic amount of deduction offered by the fund is up to ₹1.5 lakh on the same amount of investment. However, NPS allows one to get an additional ₹50,000 deduction under section 80CCD (1B), taking the overall tax deduction amount to ₹2 lakh. Unit Linked Insurance Plan (ULIP) ULIP is offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan. A portion of the premium paid by the policyholder is utilised to provide insurance coverage to the policyholder and the remaining portion is invested in equity and debt instruments. ULIP also provides tax deduction up to ₹1.5 lakh. Here are the top 5 best performing ULIP plans in the industry: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ULIP plans by insurance companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% returns in last 3 years </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PNB MetLife - Met Pension Plus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.40% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AEGON Life iMaximize Plan - Opportunity Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.40% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti AXA Life - Future Secure Pension - Growth Opportunities Pension Plus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Pension Advantage Plan - Future Pension Active </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.80% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Platinum Edge - Frontline Equity Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.40% </td></tr></tbody><tbody></tbody></table>Source: <a href="https://www.moneycontrol.com/personal-finance/top-performing-ulips">Moneycontrol</a> Public Provident Fund (PPF) PPF is one of the safest <keyword id="381673" type="General" weightage="20" keywordseo="investment-options" source="Orion">investment options</keyword> to start with that can help you secure your retirement and save tax as well. The PPF has a minimum tenure of 15 years with as little as ₹500 to open an account. You can open a PPF account through a post office or in any nationalised bank. Income tax exemptions are applicable on the principal amount invested in a PPF account. The interest rate for PPF is set and paid by the government for every quarter which is currently at 7.1%, more than the savings rate in banks. Taxpayers can claim a maximum deduction up to ₹1.5 lakh. Sukanya Samridhi Yojana This is a small deposit scheme by the government of India targeted for the parents of a girl child as part of ‘Beti Bachao, Beti Padhao’ campaign. The scheme encourages parents to build a fund for the future education and wedding expenses for their female child. Sukanya Samridhi Yojana scheme offers interest rate of upto 7.6% along with tax deduction of up to ₹1.5 lakh. The account can be opened at any post office in India or at a branch of any authorised commercial bank. Home loan If you have taken a home loan to buy a new house, you are also allowed to claim a deduction of up to ₹1.5 lakh under section 80C of the income tax. The deduction can be claimed on the principal amount repaid in the particular financial year. Check your home loan interest certificate for EMI payment details. However, note that even if you put more money i.e ₹1.5 lakh each in any of the above tax saving options like ULIP, ELSS MF, your maximum deduction from taxable income will still be a total of ₹1.5 lakh only. However, investing in NPS can get you an additional ₹50,000 deduction, taking the overall tax deduction amount to ₹2 lakh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejet-is-finding-difficult-to-survive-with-rising-costs-low-cash-and-new-players-with-deep-pockets/articleshow/88742146.cms">It’s not just COVID-19 ⁠— SpiceJet’s survival is getting challenged by rising costs, low cash, and new players with deep pockets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-epassport-what-it-is-and-how-to-apply/articleshow/88750026.cms">India’s ePassport — What it is and how to apply</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-hinduja-global-solutions-tanks-20-as-street-expected-two-times-the-dividend-announced/articleshow/88751657.cms">IT firm Hinduja Global Solutions tanks as street expected two times the dividend announced</a>

Best tax saving investment options in 2022

A special court here on Thursday rejected the default bail plea of <keyword id="9905553" type="UNKNOWN" weightage="20" keywordseo="Businessman-Deepak-Kochhar">businessman Deepak Kochhar</keyword>, husband of former ICICI Bank CEO Chanda Kochhar and an accused in money laundering case. Deepak Kochhar was arrested by <keyword id="1564214" type="COMPANY" weightage="20" keywordseo="the-Enforcement-Directorate">the Enforcement Directorate</keyword> (ED) in September under the Prevention of Money Laundering Act (PMLA) in the ICICI Bank-Videocon money laundering case. The businessman, through his lawyer, applied for bail on merits as well as on account of default, claiming the prosecution has failed to file a charge-sheet in the case within stipulated period. The special PMLA judge rejected his default bail plea, while the one filed on merits is posted for hearing on November 23, ED's lawyer Hiten Venegaokar said. Responding to Kochhar's claim that the <keyword id="1395322" type="PERSON" weightage="20" keywordseo="probe-agency">probe agency</keyword> had failed to file the charge-sheet on time, the prosecution had submitted that the same was filed on November 3, but it is pending scrutiny by the concerned department, as there are five trunks full of documents that needed to be verified. Thus, the court is yet to take the cognisance of the prosecution's complaint. The ED had arrested Deepak Kochhar in September after it filed a criminal case of money laundering after studying an FIR registered by the <keyword id="6354572" type="COMPANY" weightage="20" keywordseo="CBI">CBI</keyword> against the Kochhars, Videocon Group promoter Venugopal Dhoot and others. The central probe agency slapped money laundering charges against the Kochhars and their business entities for "illegal sanctioning of loans amounting to Rs 1,875 crore to the Videocon Group of companies". The ED had earlier said an amount of Rs 64 crore, out of the Rs 300 crore loan sanctioned by a committee headed by Chanda Kochhar to Videocon International Electronics Ltd, was transferred to Nupower Renewables Pvt Ltd (NRPL) by <keyword id="147756" type="DOMAIN" weightage="20" keywordseo="Videocon-Industries-Ltd">Videocon Industries Ltd</keyword> on September 8, 2009, just a day after disbursement of the loan by ICICI Bank. NRPL was earlier known as Nupower Renewables Ltd (NRL) and is a company of Deepak Kochhar. The agency had alleged that the "net revenue of Rs 10.65 crore was generated by NRL from these tainted funds". "Therefore, proceeds of crime amounting to Rs 74.65 crore were transferred to or to say generated in NRPL," the ED had claimed. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/indian-government-approves-the-pli-scheme-for-10-sectors/articleshow/79172901.cms" data-type="tilCustomLink">Indian government approves the Production Linked Incentive scheme for 10 sectors worth ₹2 lakh crore</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-shrink-its-losses-to-112-59-crore-in-the-second-quarter-ended-september-30/articleshow/79172678.cms" data-type="tilCustomLink">Spicejet is losing one rupee where it was losing four thanks to cheaper fuel and cut in rentals</a>

Court rejects Deepak Kochhar's bail plea in ICICI Bank-Videocon money laundering case

<keyword id="8555" type="General" weightage="20" keywordseo="tata" source="Orion">Tata</keyword> Group’s takeover of loss-making national carrier <keyword id="2573" type="General" weightage="20" keywordseo="air-india" source="Orion">Air India</keyword> is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS — the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end. As per the conditions in SPA, all formalities of handover would have to be completed within 8 weeks, but this date can be mutually extended by the buyer and seller and is being done in this case. However, some regulatory approvals are yet to come in for the handover, and certain formalities are yet to be completed, the official, who wished not to be named, told PTI. “The process would be completed by January,” he said without giving a specific date. On October 25, the government had signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Tata’s would pay Rs 2,700 crore cash and takeover Rs 15,300 crore of the airline’s debt. The cash component would come once the handover process is completed, another official explained. Tatas beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12,906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier. As of August 31, Air India had a total debt of Rs 61,562 crore. 75 per cent of this debt or Rs 46,262 crore will be transferred to a special purpose vehicle AIAHL before handing over the loss-making airline to Tata Group. Tatas will not get to retain non-core assets, such as the Vasant Vihar Housing colony of Air India, Air India Building at Nariman Point, Mumbai, and Air India Building in New Delhi. Of the 141 Air India aircraft that Tatas will get, 42 are leased planes, while the remaining 99 are owned. While this will be the first privatisation since 2003-04, Air India will be the third airline brand in the Tatas’ stable – it holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd. Tata’s acquisition of Air India will give it access to a fleet of 117 wide-body and narrow-body aircraft, and Air India Express Ltd another 24 narrow-body aircraft besides control of 4,400 domestic and 1,800 international landing, and parking slots at domestic airports. Air India started suffering losses every year since its merger with Indian Airlines in 2007-08. A Turnaround Plan (TAP) and a Financial Restructuring Plan (FRP) were approved for Air India by the previous UPA regime in 2012. However, the TAP did not work out, and Air India continued to reel under losses, with the government giving Rs 20 crore per day to keep the airline afloat. Over the last decade, more than Rs 1.10 lakh crore was infused by way of cash support and loan guarantees in the loss-making airline to keep it afloat. SEE ALSO <a href="https://www.businessinsider.in/finance/banks/news/rbl-bank-depositors-need-not-worry-assures-rbi/articleshow/88520325.cms">RBL Bank depositors need not worry, assures RBI</a> <a href="https://www.businessinsider.in/tech/news/apple-reportedly-hires-metas-communications-lead-for-its-augmented-reality-products/articleshow/88516091.cms">Apple reportedly hires Meta's AR communications lead for marketing of its unannounced AR/VR headset</a> <a href="https://www.businessinsider.in/stock-market/news/rbl-bank-slumps-15-after-ceo-goes-on-leave-big-investors-are-eyeing-a-piece-of-the-pie/articleshow/88515146.cms">RBL Bank slumps 20% after CEO goes on leave</a>

Air India handover to Tata Group delayed further

<ul><li>At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Wednesday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50. However, <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-200-points-as-investors-await-georgia-run-off-election-results/articleshow/80124817.cms">the US stocks ended higher </a>on Tuesday, as investors took advantage of the previous session's slump to buy back, ahead of the outcome of the Senate elections in the state of Georgia. The Dow Jones Industrial Average closed 167 points higher, and the S&amp;P 500 was up 0.71%. These are the stocks to watch out for during the trading session today: HDFC Bank The country's largest private sector lender HDFC Bank logged in a loan growth of 19% to ₹10,82,000 crore during the third quarter ended December 2020. Meanwhile, the bank's CASA (current account savings account) ratio rose to around 43%, compared to 39.5% in December 2019. BEML BEML has bagged orders worth ₹758 crore for supply of high mobility vehicles from the Ministry of Defence. Hero MotoCorp The government-owned Life Insurance Corporation (LIC) has increased its stake in Hero MotoCorp to 9.16% from 7.14% earlier. Bajaj Finance The Reserve Bank has imposed a <a href="https://www.businessinsider.in/finance/news/rbi-imposes-rs-2-5-crore-penalty-on-bajaj-finance-pune/articleshow/80119118.cms">penalty of ₹2.5 crore on Bajaj Finance</a>, Pune for breaching regulatory compliance norms. RBI also stated that there were complaints about recovery and collection practices. IndiGo India’s aviation regulator has <a href="https://www.financialexpress.com/industry/indigo-gets-edto-approval-for-29-pw-engine-powered-a320-a321neo-planes/2165042/">given the green light for IndiGo </a>to operate its Pratt &amp; Whitney powered Airbus A320/A321 neo fleet on longer overseas routes or as extended diversion time (EDTO) flights. EDTO allows a multi-engine aircraft to divert to a nearby airport in case of an emergency situation and is mainly applicable for international flights. Godrej Consumer Products FMCG player Godrej Consumer Products said it <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/373128e6-db11-4349-a838-73e4e8fc77fa.pdf">expects</a> to deliver "close to low double-digit sales growth" in the domestic market during the October-December 2020 quarter, led by soaps and household insecticides segments. The company has also witnessed a "sharp recovery" in its hair colour segment, which is expected to deliver mid-teen growth. ACC The cement manufacturer ACC has started operations at its new grinding unit in Dhanbad district of Jharkhand. This will result in an additional capacity of 1.4 million tonnes per annum to the existing 3 million tonnes units — taking the total capacity at Sindri to 4.4 million tonnes per annum. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/business/news/kishore-biyani-lashes-out-at-amazon-says-future-group-was-disillusioned-and-fed-up-with-the-companys-lackadaisical-attitude/articleshow/80107540.cms">Kishore Biyani lashes out at Amazon, says Future Group was disillusioned and fed up with the company's lackadaisical attitude</a>

Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others

Here's the break up of India's $35 billion Diwali stimulus⁠— from income tax relief for home buyers to incentives for formal jobs

Indians have been swiping their credit card more and transactions are growing consistently and are now above ₹1 trillion a month. This can be attributed to recovery in air travel, hospitality as well as increasing inflation making go for the ‘pay later’ option. A <a href="https://www.businessinsider.in/finance/banks/news/an-indian-credit-card-user-spends-14500-a-month-on-average-20x-more-than-debit-card-users/articleshow/91759657.cms">recent RBI report says</a> that credit card users spent three times more online than they did offline. On an average, a user spends ₹14,500 per credit card per month, while debit card spends stand at just ₹700 per card. While a credit card has its advantages, it also has demerits that users choose to ignore or are not aware of. Money Insider dives deep into the world-changing potential of financial awareness. It brings together the top young voices from the industry educating millions of Indians and shaping the financial habits of millennials, Gen Z and beyond. One such influencer who helps one understand complex labour laws for employees is <keyword id="14024018" type="General" weightage="20" keywordseo="mandeep-gill" source="Orion">Mandeep Gill</keyword>, co-founder of <keyword id="14024017" type="General" weightage="20" keywordseo="labour-law-advisor" source="Orion">Labour Law Advisor</keyword>. Gill aims to simplify complex labour laws for the Indian workforce and help them build a better financial future. His YouTube channel has over 3 million subscribers. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div>According to Gill, here are three mistakes to avoid when using a credit card: #1 Don’t use more than 30% of credit card limit Let's say you spend ₹40,000 every month from your credit card and you pay the full amount before the due date. This is all good but if the total limit of your card is ₹50,000, then it means you're using around 80% of your total credit limit. It makes you look credit hungry and will have a negative impact on your <keyword id="2054234" type="General" weightage="20" keywordseo="cibil-score" source="Orion">CIBIL score</keyword>. Hence, a healthy credit utilization ratio is around 30% and if you want to use more, make sure to increase your credit card limit. CIBIL score is a three digit number that ranges from 300 to 900, which summarizes your credit history, repayment report and spending data. The closer your score is to 900, the better your credit rating is. The CIBIL score plays a critical role in the loan application process, not just limiting to banks but also credit card companies, mortgage lenders, auto lenders etc. The lending institutions analyze your creditworthiness from your CIBIL score before approving the loan request.. #2 Don’t withdraw cash Withdrawing cash from an ATM with a credit card may look easy but prove very costly for you. This is because right from day 1, you will be charged around 2.5% - 3.5% interest per month, which is 40% interest per annum. Note that you get about 50 days of interest free period to pay your credit card dues but that doesn't apply to cash withdrawal. Also, the credit card company will levy a late payment charge in case you fail to return the cash advance before the due date. #3 Don’t make minimum payment When you receive a credit card bill, you have two options -- one is to pay the entire amount and other is to pay the minimum amount, which is typically 5% of the total outstanding amount. And one might even get happy by seeing the minimum bill amount. If one is short of money, they end up paying the minimum amount due. While this option will help you avoid late payment fees, this is where a lot of people make their biggest blunders. This minimum amount will turn into 40% interest per annum and you won't even get the benefit of a 50 days interest free period. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/if-you-place-an-order-youre-accepting-the-service-charge-restaurant-body-says/articleshow/91779455.cms">If you place an order, you’re accepting the service charge, restaurant body says</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/spicejet-flights-delayed-after-ransomware-attack-passengers-told-its-a-server-issue/articleshow/91782077.cms">SpiceJet flights delayed after ransomware attack; passengers told it’s a server issue</a>

Three credit card mistakes to avoid to maintain good CIBIL scores, and avoid too much interest

<ul><li>The cash-strapped airline has posted consecutive quarterly losses and is unable to pay its employees or meet it short-term debt obligations. </li><li><keyword id="6358200" type="COMPANY" weightage="20" keywordseo="jet-airways">Jet Airways</keyword>’ problems are symbolic of the state of India’s <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">aviation</keyword> sector, which has been battered by rising crude <keyword id="6359072" type="UNKNOWN" weightage="20" keywordseo="oil">oil</keyword> prices, a depreciating rupee and inability to hike airfares significantly. </li><li>However, it plans to turn things around by selling a stake in its loyalty programme, cutting costs and renegotiating some of its debt agreements. </li></ul>Jet Airways hasn’t had an easy go of it as of late. Following a brief spell of profitability a few years ago owing to low oil prices, it reported a loss of ₹7.7 billion last year and ₹13 billion in the first quarter of 2018-19. And isn’t expected to return to profitability anytime soon. Its debts are mounting and it doesn’t have the cash on hand to meet its short-term spending obligations. In fact, it can’t even afford to pay its staff, regularly defaulting on their salaries, even after cutting them by as much as 25%. At the beginning of September, Jet Airways received its third ratings downgrade from ICRA, a credit rating agency, in less than two years owing to its weak financial condition. The airline’s fall from grace was capped in dramatic fashion last week when the pilots on a flight from Mumbai to Jaipur forgot to turn the cabin pressure on, resulting in severe discomfort for passengers. The airline’s problems are symbolic of the larger state of India’s aviation sector, which has been battered by rising crude oil prices, a depreciating rupee and inability to hike air fares significantly amid intense competition. However, Jet Airways has announced a plan to try and turn its fortunes around and reassure its creditors. Firstly, it expects to raise around ₹3.5 billion by offloading a 49% stake in its frequent flyer programme, Jet Privilege, which is majority owned by Etihad Airways.The sale will allow it to infuse fresh capital into its operations. If it is unable to complete the sale in time, then it will apply for a bridge loan to meet its urgent financing needs. It is reported to be in talks with private equity giants Blackstone and TPG regarding the sale. Secondly, it plans to cut ₹2 billion worth of costs by 2020. In addition to cutting staff and salaries further, it will focus on reducing sales and distribution expenses and rationalising its fleet, which will save maintenance and storage costs. This will likely involve a sale-and-lease-back approach, wherein it will sell a portion of its fleet and lease them back in monthly instalments. Thirdly, it will try to renegotiate the terms of its credit facility, which mandates that it earn a profit of at least $100 million in the current financial year. The contract was struck when oil prices were lower and the rupee was stronger. In fact, it will have to revise all its profitability targets, given the fact that fuel prices aren’t decreasing in the medium term and the government recently levied a 5% duty on imports of aviation turbine fuel. Finally, the airline has pledged to earn a minimum revenue of $100 million every quarter. This won’t be possible unless it is able to pass on its high fuel costs to customers through higher air fare, which seems unlikely given the pricing pressures it faces from low-cost carriers like <keyword id="6354706" type="COMPANY" weightage="20" keywordseo="IndiGo">IndiGo</keyword> and SpiceJet. As things stand, the immediate future looks extremely bleak for the cash-strapped airline.

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Ready to take off – Rakesh Jhunjhunwala's Akasa Air receives its first Boeing aircraft

Kritti Bhalla

SBI and ICICI Bank investors pay the price for the nearly ₹10,000 crore lost to the biggest bank fraud ever in India

Rounak Jain

Here’s how to check Fino Payments Bank IPO allotment status, listing date and more

Bhakti Makwana

Best tax saving investment options in 2022

Bhakti Makwana

Court rejects Deepak Kochhar's bail plea in ICICI Bank-Videocon money laundering case

PTI

Air India handover to Tata Group delayed further

PTI

Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others

Navdeep Yadav

Here's the break up of India's $35 billion Diwali stimulus⁠— from income tax relief for home buyers to incentives for formal jobs

Sriram Iyer

Three credit card mistakes to avoid to maintain good CIBIL scores, and avoid too much interest

Bhakti Makwana

Jet Airways has a plan to stave off a potential bankruptcy

Dilsher Dhillon