Morning buzz: AI and Akasa exchange barbs, GDP numbers could surprise on the upside, and more

Here are the top business headlines this morning to get your day started

  • Published:
  • 01/11/2023 09:59 AM

The CEOs of Akasa and Air India have exchanged verbal and written communication over the poaching of pilots, with Akasa accusing the latter of rule violations. Image: Reuters /Dado Ruvic/Illustration

Air India and Akasa CEOs exchange barbs over poaching of pilots  

The CEOs of Akasa and Air India have exchanged verbal and written communication over the poaching of pilots, with Akasa accusing the latter of rule violations. The letter was sent by Campbell Wilson of Air India to Vinay Dube of Akasa and was followed up by a telephone call. Wilson is believed to have told Dube that the rules were not enforceable. Akasa did not comment on the communication saying the pilot issue was now behind them.  

(Business Standard, Financial Express)   

GDP numbers could surprise on the upside: Shaktikanta Das  

RBI governor Shaktikanta Das has said growth numbers for the second quarter of FY24 could surprise on the upside based on data from early indicators. For now, the bank is sticking to its forecast of 6.5 percent for FY24. Data for the second quarter is expected to be released in early November. Risks include geopolitical events, global interest rates as well as oil prices.  

(Times of India, Business Standard)

Lower duties for EVs priced under $35,000  

India is looking to slash duties for electric vehicles priced at between $25,000-35,000 to 15-30 percent. This is compared to the 70 percent at present. The cut will come with the caveat that companies would have to commence local manufacturing within 2-3 years. There would also be a clawback clause in case they fail to start manufacturing. These entrants could also take advantage of the PLI scheme.  

(Mint)  

Reliance Retail and SBI Card to tie up for credit card

Reliance Retail and SBI Card have tied up to launch a credit card for walk-in shoppers in Reliance Retail stores. The card will offer discounts in addition to the reward points on offer. The company also plans to roll out offers for customers in Tier 2 and 3 cities. Both companies declined to share targets for card usage or issuance.   

(Economic Times)