Indian conglomerate GMR has lined up a Rs 4,000-crore loan for the construction of a greenfield international airport at Vizag, according to a report by The Economic Times (ET). An India Infrastructure Finance Company (IIFCL)-led consortium is funding the initiative for the construction group.

The airport in Vizag would become GMR's fourth major airport in the country after those at Delhi, Hyderabad, and Goa.

India's biggest telecom companies, Reliance Jio and Bharti Airtel are fighting tooth and nail as both companies aim for a higher average revenue per user (Arpu) through their bundled services, according to The Economic Times (ET). Arpu acts as a significant indicator of earnings. With the telecom sector in the country focusing on 5G monetisation, the fixed wireless access (FWA) service and content proposition is the latest bone of contention for the two companies, the newspaper cited experts as saying.

Vedanta Ltd on Wednesday announced that it has incorporated its wholly-owned base metal subsidiary Vedanta Base Metals Ltd. The incorporation has been done to implement the demerger scheme of the company, notified last month.

Vedanta Base Metals Ltd has been incorporated to carry out the metal business.

The Andhra Pradesh Non-Resident Telugu Society (APNRTS), a government entity, said it was in touch with four woman migrants from the state, who are currently stranded in war-torn Israel.

APNRTS chief executive P. Hemalatha Rani said they are currently in a safe place in Kiryat Onu in the country, which is waging a war against Palestinian armed group Hamas.

The Ahmedabad crime branch has arrested a man for allegedly sending an email threatening attack on the Narendra Modi Stadium in the city, officials said on Wednesday.

The accused, who has no criminal background, was arrested from Rajkot in Gujarat, they said.

The massive stadium is one of the venues of the ongoing cricket World Cup and the India-Pakistan cricket match will be played here on October 14.

The Life Insurance Corporation of India (LIC) has received a Goods and Services Tax (GST) demand order accruing to nearly Rs 37,000 for paying taxes at 12 per cent instead of 18 per cent for some invoices during the assessment year 2019-2020.

The state taxes officer in Srinagar has charged the company with a GST of Rs 10,462, penalty amounting to Rs 20,000 and interest of Rs 6,382, aggregating to Rs 36844.

The Reserve Bank of India (RBI) on Tuesday directed the Bank of Baroda to halt the onboarding of new customers onto its "bob World" mobile application. The bank has also been instructed to ensure that no existing customer of the application faces any disruption due to this suspension.

In an official notice, RBI stated, "The Reserve Bank of India, exercising its power under Section 35A of the Banking Regulation Act, 1949, has directed Bank of Baroda to suspend, with immediate effect, any further onboarding of customers onto the 'bob World' mobile application."

For the first time, the number of Indians with a net worth of over Rs 1,000 crore crossed the 1,300 mark in 2023, as revealed by the 360 ONE Wealth Hurun India Rich List 2023 released on Tuesday.

At 1,319, India now boasts 216 more billionaires than the 1,103 recorded last year.

India had crossed the 1,000 mark in 2021, when the number of billionaires recorded was 1,007, marking an increase of 179 from 2020.

The price of 24-carat gold rose Rs 220 during Tuesday's early trade, with ten grams of the precious metal selling at Rs 58,200, according to the GoodReturns website. Silver price jumped Rs 500 with 1 kg of the precious metal selling at Rs 72,600.

The price of 22-carat gold went up by Rs 200, with the yellow metal selling at Rs 53,350.

The Indian rupee fell 2 paise to settle at an all-time closing low of Rs 83.27 per US dollar on Monday, tracking the rise in the dollar index, according to dealers.

The rupee had settled at the same level on September 18.

“On Monday, the rupee tracked the dollar index, but it was moving in a narrow range because the US and Japan markets were closed,” a dealer at a state-owned bank said. “The rates might change because of war, but that will be known on Tuesday,” he added.

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