RBI's new rules on interchange fee, 24/7 bulk clearing facility functional
The Reserve Bank of India's new directions on raising interchange fee and making available the facility of bulk clearing round the clock have become effective from Sunday onwards. The RBI in June raised the interchange fee for financial transactions from Rs 15 to Rs 17, while for non-financial transactions the increase was done from Rs 5 to Rs 6. These new rates have become applicable from August 1, 2021, as per the RBI's direction.
Policy ignition: India's satellite navigation sector set for higher growth trajectory
India's satellite based navigation and augmentation services sector appears headed for a higher growth trajectory with the proposed ignition of a policy push towards effective development, operation and maintenance of such systems.
Business travel isn't expected to return to pre-pandemic levels anytime soon
News/Business: Business travel may be a long time coming back to pre-pandemic levels. That will hurt many bottom lines, particularly for airlines where business trips make up a significant part of industry profit.
Higher oil prices boost profits at Canadian energy companies after pandemic-era losses
News/Business: After racking up debt in 2020, the Canadian oilpatch is enjoying a rebound so far this year as major oil producers are gushing profits as oil prices are near a seven-year high. This week, many energy companies based in Calgary unveiled their latest earnings reports and for the second straight quarter, the industry showed hefty profits.