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Japan’s agency R&I upgrades India’s sovereign credit rating – The Times of India

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Japan’s agency R&I upgrades India’s sovereign credit rating – The Times of India


NEW DELHI: Japanese credit rating agency Rating and Investment Information (R&I) on Friday upgraded India’s long-term sovereign credit rating to ‘BBB+’ from ‘BBB’ and retained the “stable” outlook, citing growth prospects, progress on fiscal consolidation, and reforms undertaken by govt. This is the third upgrade by a sovereign credit rating agency this year, following S&P’s upgrade to ‘BBB’ (from BBB-) in Aug and Morningstar DBRS’ upgrade to ‘BBB’ (from BBB (low)) in May 2025.R&I said the impact of the tariffs imposed by US on India’s economy will be limited. “The US has raised its tariff rate on India to 50%. While this may pose a risk factor for economic outlook, India’s economy is mainly driven by domestic factors and its dependence on exports to the US is not high,” the ratings agency said in a statement, adding that GST rate reduction, which will kick in from Sept 22, would help minimise the impact.The agency said the economy will maintain the growth rate in mid-6% range from FY26 onwards, backed by population growth, the catch-up effect of income and govt’s public investment and economic policy, among other factors. The govt welcomed the decision by the ratings agency. “Three credit rating upgrades for India in five months reflect increasing global recognition for India’s robust and resilient macroeconomic fundamentals and prudent fiscal management and underscore global confidence in India’s medium-term growth prospects amid prevailing global uncertainties,” said an official statement.The rating agency said govt is striving to reduce the fiscal deficit, which narrowed to 4.8% of GDP in FY24. “While govt has been increasing capital expenditures, it managed to reduce the fiscal deficit, thanks to the tax revenue increase backed by strong domestic demand as well as the cut of subsidies,” said R&I.





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HDFC Bank Changes Lounge Access Norms For Debit Cards From January 10– Details Here

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HDFC Bank Changes Lounge Access Norms For Debit Cards From January 10– Details Here


New Delhi: If you often use your HDFC Bank debit card for free airport lounge access, this update is important for you. The bank has changed how complimentary lounge entry works on its debit cards. Instead of simply swiping your card at the lounge, customers will now need a digital voucher to get access. Also, the minimum spending requirement has been increased, reported Moneycontrol. These new rules will come into effect from January 10, and will apply to eligible debit cardholders going forward.

How the New Lounge Voucher System Works

Once your eligibility is confirmed, HDFC Bank will send you an SMS or email with a link to claim your lounge access voucher. You’ll need to verify your request by entering an OTP sent to your registered mobile number. You will receive a voucher code or QR code after successful verification which must be shown at the airport lounge to get entry.

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Minimum Spend Requirement Increased

Under the revised rules, HDFC Bank debit card users will now need to spend at least Rs 10,000 in a calendar quarter to be eligible for complimentary airport lounge access. Earlier, the minimum spend required was Rs 5,000.

However, this condition will not apply to HDFC Infiniti Debit Card holders. Customers using the Infiniti card will continue to enjoy free lounge access without any minimum spending requirement.

Eligible Transactions and Free Lounge Visits by Card Type

Only purchase transactions made using the debit card will be considered while calculating the quarterly spending requirement. Other types of transactions will not be counted, as noted by Moneycontrol.

Meanwhile, the number of complimentary lounge visits remains unchanged and continues to depend on the debit card variant:

Millennia Debit Card: 1 free visit per quarter

Platinum Debit Card: 2 free visits per quarter

Times Points Debit Card: 1 free visit per quarter

Business Debit Card: 2 free visits per quarter

GIGA Debit Card: 1 free visit per quarter

Infiniti Debit Card: 4 free visits per quarter

This means cardholders should check both their spending eligibility and card type to know how many lounge visits they can enjoy.

Which Transactions Count and Voucher Validity Explained

Only purchase transactions made using the debit card will be counted towards the quarterly spending requirement. As per Moneycontrol, the following transactions will not be included:

ATM cash withdrawals

UPI or wallet payments (GPay, PhonePe, Paytm, etc.)

Credit card bill payments made via debit card

Debit card EMI transactions

New debit cardholders will also need to meet the Rs 10,000 spending requirement to become eligible for complimentary lounge access.

Voucher Validity: 

Once issued, the lounge access voucher will remain valid till the end of the next calendar quarter, after which it will expire if not used.

What This Means for Debit Card Users

With the updated lounge access rules, HDFC Bank is clearly encouraging higher card usage and digital verification. Customers who regularly use complimentary lounge benefits will now need to keep a close watch on their quarterly spending and complete the voucher process in advance. As per Moneycontrol, physical debit card swipes will no longer work from January 10, making it important for travellers to switch to the new digital voucher system.



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NPS Changes In 2025: Know New Rules On Exit, Withdrawal, Lock-In And Entry

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NPS Changes In 2025: Know New Rules On Exit, Withdrawal, Lock-In And Entry




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South Korea Aims To Cut Carbon Emissions At International Airports By 10 Per Cent By 2030

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South Korea Aims To Cut Carbon Emissions At International Airports By 10 Per Cent By 2030


Seoul: South Korea aims to cut carbon emissions at its international airports by 10 percent by 2030 while expanding the use of sustainable aviation fuel (SAF), a government report showed on Sunday.

Under the blueprint for the 2026-2030 period, set by the transport, environment and industry ministries, carbon emissions at South Korea’s international airports are projected to reach 29.8 million tons in 2030, up 28 percent from 23.3 million tons recorded this year.

The government aims to reduce the projected amount by 10 percent, or 2.87 million tons, reports Yonhap news agency. The report said the reduction can be achieved by using SAF, shorter standby time during takeoff and landing, and improved efficiency in airport operations.

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In line with the efforts, international aircraft taking off from South Korea will be required to use SAF for at least 1 percent of their fuel, and the share will be raised to between 3 percent and 5 percent after 2030.

South Korea will come up with measures to ease the financial burden on air carriers, considering that SAF prices are around three times higher than those of conventional jet fuel, including partially assisting with related costs.

Meanwhile, Korean Air build a next-generation aircraft maintenance hangar at Incheon International Airport, South Korea’s main gateway, under a 176 billion-won (US$119.2 million) joint investment deal with the airport operator, the airline said.

The new hangar will be located inside the airport’s High Tech Aviation Complex and will support airframe inspections, component checks, heavy maintenance and aircraft modification. The 69,299-square-meter site will accommodate two wide-body aircraft and one narrow-body aircraft at once. Construction is set to begin in 2027, with operations planned from late 2029.

Korean Air said the facility will strengthen its maintenance, repair and overhaul (MRO) capabilities ahead of the launch of the integrated carrier following the acquisition of rival carrier Asiana Airlines Inc.



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