Business Today 2 October 2022

While picking up a packet of sweets at the airport when flying back from Kolkata recently, I asked the person at the counter how he wanted me to make the payment. Out came the Quick Response (QR) code, and in a few seconds, the payment was made via an app directly from my bank account thanks to the Unified Payments Interface (UPI) system. It’s so convenient, with no hassles of tendering change or waiting for connectivity on the point-of-sale (POS) machine, the person at the counter told me with a smile. By all accounts, the UPI interface is fast proving to be a massive game changer in the payments space. The figures tell the story. In just six years since the National Payments Corporation of India (NPCI) rolled out the…

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1.41 LAKH KM The length of NH in the country in FY22, compared to 91,287 km in FY14 and 70,934 km in FY10 63.72 LAKH KM The length of India’s total road network, the second largest in the world ₹1.99 LAKH CRORE Total outlay for the highway sector in Budget FY23, compared to the revised allocation of ₹1.31 lakh crore in FY22 SOURCE NHAI, MEDIA REPORTS, HDFC SECURITIES, UNION BUDGET…

₹6‚100 crore ESTIMATED CAPEX ATTRIBUTABLE TO PLI SCHEMES IN FY22; IT IS LIKELY TO PEAK IN FY25 AT ₹ 1,04,300 CRORE 16.6 per cent EXPECTED GROWTH (CAGR) IN PRIVATE SECTOR CAPEX DURING FY21 TO FY24, ACCORDING TO HDFC SECURITIES DOUBLE DELIGHT OVERALL, THE CAPEX BY THE CENTRAL AND STATE GOVERNMENTS, PSUs AND PRIVATE PLAYERS IS LIKELY TO DOUBLE BY FY24 AS COMPARED TO FY18 Note: Figures in ₹ lakh crore; E: Estimate; *Figures are derived after the addition of internal and extrabudgetary resources and deducting capital/money distributed to the states under capital expenditures, **Includes listed private capex, unlisted private capex and PLI capex. For private capex figures, HDFC Securities analysed the 250 largest public companies in India and 180 of the largest unlisted companies to understand the quantum and nature…

NOWAS REGULATORY issues mount and losses balloon to ₹789 crore in the April-June quarter of the current financial year, Gurugram-headquartered SpiceJet is desperately scrounging for fresh funding. The low-cost carrier may get ₹225 crore in emergency funding from the government to clear part of its outstanding dues. “We are also looking at fundraising through investments from external parties, including other airlines,” CEO Ajay Singh told Business Today recently. The beleaguered carrier has also appointed Ashish Kumar as its new CFO. Will the airline be able to turn around its fortunes? Only time will tell.…

The Enforcement Directorate raided online payments gateway providers like Razorpay, Cashfree and Paytm as part of an on-going investigation into the Chinese instant loan app case. The probe is based on at least 18 FIRs registered by the cybercrime branch of the Bengaluru police, against numerous entities in connection with their involvement in extortion and harassment of the public who took small amount of loans through these mobile apps. The probe agency had allegedly found that these entities were controlled and operated by Chinese nationals.…