Retail sales of automobiles in January 2024 witnessed a 15 per cent increase to 2.13 million units, compared to 1.85 million units during the corresponding period in 2023.

This growth was observed across all vehicle categories, including two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles, which reported increases of 15 per cent, 37 per cent, 13 per cent, 21 per cent, and 0.1 per cent, respectively, according to data shared by the Federation of Automobile Dealers Associations (FADA).

Reserve Bankof India (RBI) Governor Shaktikanta Das on Monday firmly dismissed any possibility of a review of the central bank’s action against Paytm Payments Bank.

He stated that the decision was taken after a comprehensive assessment of the firm’s operations.

The Reserve Bank of India (RB) on Monday conducted two four-day variable rate repo (VRR) auctions to infuse liquidity into the banking system. The liquidity deficit in the system widened to Rs 1.93 trillion on Sunday.

The central bank conducted two VRR auctions in a day for the first time on Friday, following six fine-tuning variable rate reverse repo (VRRR) auctions between February 2 and 7. This included two one-day VRRR auctions on February 6 and 7.

Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday.

The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been barred by the RBI from accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.

SpiceJet Airlines is set to reduce its workforce by 1,400 employees, constituting nearly 15 per cent of its total staff, as part of cost-cutting measures aimed at sustaining investor interest amidst ongoing financial challenges. The cash-strapped budget airlines confirmed the news with The Economic Times (ET), citing the necessity for aligning companywide costs with operational requirements as the rationale behind the staff reductions.

The airline currently employs 9,000 personnel and operates approximately 30 aircraft, including eight wet-leased from foreign carriers.

Samsung has announced that the sleep apnea feature on the Samsung Health Monitor app has received De Novo authorization from the US Food and Drug Administration (FDA). This feature detects the signs of sleep apnea by monitoring blood oxygen levels of the user during sleep through supported Galaxy Watches. The feature will be available in the US through the Samsung Health Monitor app in the third quarter of 2024.

Last year, Samsung received the approval by South Korea’s Ministry of Food and Drug Safety (MFDS) for the same feature.

Apeejay Surrendra Park Hotels (ASPHL) made a good stock market debut on Monday, with its shares getting listed at Rs 187, a 21 per cent premium over its issue price of Rs 155 per share on the BSE in an otherwise subdued market.

The stock opened at Rs 186 on the National Stock Exchange (NSE). The company is engaged in the hospitality business and runs hotels under its "The Park" brand.

The head of the Nato military alliance warned on Sunday that Donald Trump was putting the safety of US troops and their allies at risk after the Republican presidential frontrunner said Russia should be able to do "whatever the hell they want" to Nato members who don't meet their defence spending targets.

"Any suggestion that allies will not defend each other undermines all of our security, including that of the US, and puts American and European soldiers at increased risk," Nato Secretary-General Jens Stoltenberg said in a statement.

The government is examining foreign direct investment from China in Paytm Payments Services Ltd (PPSL), the payment aggregator subsidiary of One97 Communications Ltd, sources said.

In November 2020, PPSL had applied for licence with the Reserve Bank of India (RBI) to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways.

Veteran BJD leader and 10-time Odisha MLA V Sugnana Kumari Deo died at a private hospital in Chennai on Saturday while undergoing treatment, officials said.

She was 87.

Deo breathed her last at about 1 am after Odisha Chief Minister Naveen Patnaik and other senior party leaders met her at the hospital on Friday night, they said. She belonged to the royal family of Khallikote.

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