'NITI Aayog releases report on digital banks; proposes licensing, regulatory regime'- Business Today Newsletter

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BANKING   NITI Aayog releases report on digital banks; proposes licensing, regulatory regime   "Given the need for leveraging technology effectively to cater to the needs of banking in India, this report studies the prevailing gaps, the niches that remain underserved, and the global regulatory best practices in licensing digital banks," said NITI Aayog CEO Parameswaran Iyer.

TECHNOLOGY   Koo signs MoU with Telangana govt, to open development centre in Hyderabad   As part of this MoU, Telangana govt will work jointly with Koo on the use of Telugu to increase reach among non-English speakers in the state.

WORLD   Sunak vs Truss: Policy views of final two candidates in race to become UK PM   Sunak has resisted following fellow candidates in promising immediate tax cuts, saying that inflation has to be brought under control first, while Truss said this would include reversing a rise in social security contributions which came into effect in April.

IT   Wipro Q1 results: Net profit falls 21% to Rs 2,563 cr as overall expenses rise   Wipro's revenues rose 19 per cent to Rs 21,529 crore in the quarter under review as compared to Rs 18,252.4 crore in the same quarter last fiscal.

AVIATION   Depreciating rupee, imported inflation pinch revenues of Indian airlines   Other than high jet fuel prices, rupee depreciation will hit operating margins on unhedged costs such as landing, parking and housing charges, MRO services and sourcing of spare parts and other routine items.

PERSONAL FINANCE   How 5% GST on hospital room rent will impact your insurance policy   If insurers are not able to claim the GST paid, it could result in a small rise in premiums, says Sudha Reddy of Digit Insurance.

CORPORATE   Future Retail saga: NCLT admits Bank of India's petition to initiate insolvency proceedings   The bench also dismissed Amazon's intervention application. This means that FRL can now face insolvency proceedings.

ECONOMY   GST on rental property may slow down market temporarily, claim property pundits   The introduction of 18% GST on rentals may have a temporary impact on the market and suppress demand, but not for long. Here's why.

TECHNOLOGY   Will Elon Musk go to jail over the Twitter deal?   Twitter and Elon Musk will go to trial in October over the $44 billion acquisition deal.

News Reel   Special India Today Group report as fuel and food prices sting Sri Lankans   Fuel has become a flashpoint in the Sri Lanka crisis. While some relief has come from India, residents are still battling it out for any amount of fuel as prices remain sky high. Here's a report from ground zero Colombo.

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