Currency note with * symbol in number panel valid note: RBI.

Currency note with * symbol in number panel valid note: RBI - The Hindu

The Reserve Bank of India (RBI) has clarified that a currency note featuring a star (*) symbol in the number panel holds the same validity as any other legal banknote. The RBI’s statement aims to address any doubts regarding the authenticity of such notes.

The star symbol is placed in the number panel of a banknote to indicate that it serves as a replacement for banknotes with printing defects. These replacement notes are included in packets of 100 serially numbered banknotes.

Foxconn withdraws from India’s semiconductor joint venture with Vedanta.

Foxconn withdraws from $19.5 billion Vedanta chip plan in India - Times of  India

Taiwan’s Hon Hai Technology Group, popularly known as Foxconn, has decided to withdraw from its joint venture with India’s Vedanta Group in the semiconductor sector. Foxconn clarified that this move does not imply a complete departure from India’s semiconductor industry but rather stems from a shared understanding to explore diverse development opportunities.

Despite this development, both Foxconn and Vedanta affirm their commitment to India’s semiconductor mission and the “Make in India” initiative. Minister for Electronics and Information Technology, Ashwini Vaishnaw, highlighted this commitment in a brief statement shared on Twitter.

Advertising Standards Council of India (ASCI) Introduces New Charity Norms for Crowdsourcing Platforms.

ASCI's new charity norms ask crowdsourcing platforms to disclose fees - The  Hindu

The Advertising Standards Council of India (ASCI) has unveiled new guidelines for advertisements related to charitable causes, particularly those on crowdsourcing platforms. These guidelines aim to enhance transparency, ethical standards, and sensitivity in the promotion of charitable initiatives.

Under the new norms, crowdsourcing platforms are mandated to disclose the fees charged by them when soliciting donations for charitable purposes. This move is aimed at ensuring transparency in financial transactions and enabling donors to have a clear understanding of how their contributions are being utilized.

Additionally, the ASCI emphasizes that advertisers must refrain from using graphic images of victims in distress, especially children and minors. This provision is in place to maintain ethical standards and to avoid exploiting vulnerable individuals for promotional purposes.

The ASCI’s new guidelines reflect the organization’s commitment to responsible advertising practices, particularly in the context of charitable endeavors. By setting forth rules for transparency, ethical messaging, and sensitivity, the ASCI aims to foster an environment of trust between donors, advertisers, and charitable causes.

These guidelines represent a significant step forward in aligning advertising practices with ethical considerations, ensuring that advertising serves as a positive force for social change and impact.

Air India and CFM International Conclude Engine Order for 400 Aircraft.

Air India, CFM finalise order for engines for 400 planes | Deccan Herald

Air India and CFM International have successfully concluded an order agreement for LEAP engines, marking a significant milestone in the carrier’s fleet expansion plans. The engines will be deployed to power Air India’s new fleet of 400 narrow-body aircraft, consisting of 210 Airbus A320/A321 neo and 190 Boeing 737 MAX family aircraft.

This engine order represents a pivotal step in Air India’s strategic efforts to enhance its fleet capabilities and efficiency. The LEAP engines, known for their advanced technology and fuel efficiency, will contribute to optimizing the performance of the airline’s aircraft while also complying with environmental standards.

Campbell Wilson, CEO and MD of Air India, expressed his enthusiasm regarding the partnership with CFM International and the impact this engine order will have on the airline’s future development. The successful finalization of this significant deal signifies the commitment of both Air India and CFM International to fostering growth and innovation within the aviation industry.

As Air India continues to modernize its fleet and expand its operations, the collaboration with CFM International demonstrates the airline’s dedication to providing enhanced services to its passengers and maintaining its competitive position in the market. The deployment of LEAP engines underscores Air India’s commitment to sustainability, efficiency, and cutting-edge technology in its pursuit of delivering exceptional travel experiences to its customers.

DGCA Gives Nod to Go First’s Flight Resumption Plan with Conditions.

DGCA approves Go First's flight resumption plan with certain conditions

The Directorate General of Civil Aviation (DGCA) has granted approval to Go First’s proposed plan to recommence its operations. The airline’s plan involves the operation of 15 aircraft, offering a total of 114 daily flights. However, the approval comes with certain conditions that Go First needs to adhere to.

Budget airline Go First had temporarily suspended its flight operations on May 3, as it entered into an insolvency resolution process. The DGCA’s decision to accept Go First’s resumption plan marks a significant step in the airline’s efforts to resume its services and gradually recover from the challenges it faced.

The regulatory approval underscores the importance of ensuring safety and compliance in the aviation industry. The DGCA’s review and acceptance of Go First’s plan for flight resumption emphasize the regulator’s commitment to upholding standards and protocols that guarantee the safety and well-being of passengers and crew members.

Go First’s return to the skies with a carefully outlined plan and adherence to regulatory requirements demonstrates the airline’s determination to rebuild its operations and regain the trust of its customers. As the aviation industry continues to recover from the impacts of the pandemic and other challenges, the approval of flight resumption plans is a positive development that contributes to the gradual restoration of normalcy in air travel.

ICICI Bank Records 40% Surge in Standalone Net Profit at ₹9,648 Crore.

ICICI Bank reports 40% rise in standalone net profit to ₹9,648 crore - The  Hindu

ICICI Bank, a leading private sector bank based in Mumbai, has announced its financial results for the quarter ended June 2023, revealing a substantial 40% increase in standalone net profit. The bank’s net profit for the quarter reached ₹9,648 crore, showcasing strong growth compared to the same period in the previous year.

This impressive surge in net profit can be attributed to various factors, including a reduction in bad loans and an enhancement in interest income. In the corresponding period of the previous year, the bank had reported a standalone net profit of ₹6,905 crore.

ICICI Bank’s performance in the June 2023 quarter highlights its ability to effectively manage its assets and liabilities, thereby optimizing its profitability. The bank’s focus on maintaining a healthy loan portfolio and efficiently managing its credit risk has contributed to the decline in bad loans, reflecting prudent risk management practices.

The improvement in interest income underscores ICICI Bank’s capability to leverage its wide range of financial products and services, catering to the diverse needs of its customer base. As the bank continues to evolve and innovate, its performance in the first quarter of the fiscal year indicates its commitment to delivering value to its shareholders, customers, and stakeholders.

The substantial growth in net profit showcases ICICI Bank’s resilience in navigating the dynamic banking landscape, marked by changing economic conditions and evolving customer preferences. As the bank remains dedicated to providing innovative banking solutions and maintaining robust risk management practices, it is well-positioned to capitalize on growth opportunities and uphold its position as a key player in the financial sector.