China’s services sector experienced a pick-up in activity during May, according to a private-sector survey released on Monday. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 57.1 in May, up from 56.4 in April. This expansion in the services sector supports China’s consumption-led economic recovery in the second quarter. The survey’s findings differ from the official PMI, which was made public last week and showed a slower rate of increase in the services sector.

Sales of two-wheelers, three-wheelers, passenger cars, and commercial vehicles increased as a result of the wedding season and expected changes to FAME subsidies that are due to take effect in June. According to the Federation of Automobile Dealers Associations’ (FADA) most recent figures, India’s Retail Vehicle Sales Increased By 10% YoY In May.

The app, which celebrated its one-year anniversary on April 7, received a new look as well as improved navigation and payment processes, resulting in its strongest growth period on all counts, including income.

Reserve Bank of India Monetary Policy Meeting Likely to Maintain Repo Rate at 6.50%, as indicated by a poll of economists. Factors contributing to this decision include higher-than-expected GDP growth, easing retail inflation, and the scaling down of rate hikes by central banks in advanced countries. The RBI’s focus on liquidity management and concerns about the impact of the monsoon on food inflation also play a role. Market participants are eagerly awaiting the RBI’s comments on these matters.

Paytm claimed 75 lakh merchants are now paying membership fees for its payment devices, up 4 lacks from May, and that its average monthly transacting users (MTU) had increased 24 percent year on year to 9.2 crores.

IndiGo, India’s largest airline, is set to make aviation history with a potential deal for 500 Airbus A320 jets, surpassing previous records. The estimated $50 billion agreement, along with talks for wide-body jets, highlights the airline’s expansion plans amidst a rebound in India’s travel market. Find out more!”

Discover the latest update on Byju’s, India’s most valuable startup, as Byju’s Plans $40 Million Quarterly Interest Payment on Troublesome $1.2 Billion Loan. Learn about the challenges faced by the ed-tech firm, its negotiations with creditors, and the potential consequences of default. Stay informed with this important financial news.

Tata Group plans to invest Rs 13,000 crore in Gujarat to establish a lithium-ion cell manufacturing unit with an initial capacity of 20-gigawatt hours. The move aligns with India’s push for electric mobility and aims to meet the growing demand for lithium-ion batteries.

It Companies

Bank of Baroda Aims for Steady Growth; Capital Enhancement and Credit Expansion in Focus

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