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Bengaluru Metro achieved a record single-day ridership of over 9.6 lakh commuters on June 4, driven by the Royal Challengers Bengaluru's victory celebrations. The Bengaluru Metro Rail Corporation Limited (BMRCL) reported a nearly three-fold increase in ridership across its two lines, with the Purple line accommodating over 4.7 lakh passengers and the Green line serving more than 2.8 lakh. The Nadaprabhu Kempegowda Metro Station at Majestic, which connects both lines, recorded 203,724 commuters. This surge was particularly notable at Central Business District stations, including Cubbon Park and MG Road. The record comes amid concerns over declining ridership following a price hike that saw a 16% drop in passengers from January to February. BMRCL had limited the price increase to 70% after commuter backlash. The previous record was set on April 17, 2025, with 9,08,153 boardings. 
Published: Jun 05 2025, 1 pmeznews.inIn the fiscal year 2024-25, Air India reported a significant milestone, carrying 44 million passengers and achieving a 9.9% annual growth rate. The airline, under Tata Sons, posted an operating profit for the first time in years, bolstered by lower fuel costs and increased passenger numbers. Sources indicated that the merger with Vistara contributed to enhanced operational efficiency and cost savings, with EBITDAR soaring over 150%. Revenue also rose by nearly 14% to ₹61,000 crore. Notably, Air India's net loss was halved from ₹11,387.96 crore in FY23 to ₹4,444.10 crore in FY24. The airline's transformation initiative, Vihaan.AI, is reportedly on track, with plans to upgrade its fleet, including an order for 570 new aircraft. Currently, Air India operates over 300 aircraft, serving 55 domestic and 48 international destinations, employing more than 30,000 staff.
Published: Jun 06 2025, 8 pmeznews.inGlobal sugar prices are expected to face downward pressure in the 2025-26 season, starting in October, as production in India and Thailand is set to rise, alongside robust output projections from Brazil. Research agency BMI, part of Fitch Solutions, noted that raw sugar futures have fallen to a four-year low of 16.44 US cents per pound, with white sugar prices also declining. Despite a net long position in raw sugar, bearish sentiment has grown, driven by a significant increase in short holdings among money managers. While India's sugar production is projected to surge by 26.3% year-on-year, Brazil's output estimates have been revised downwards due to slow harvesting. Additionally, India's export restrictions may limit the impact of its increased production on global supplies. Overall, while optimism exists for higher production, challenges could still lead to price volatility amid tight global stocks.
Published: Jun 06 2025, 8 pmeznews.inIn May, sales of Di-Ammonium Phosphate (DAP) fertilizer fell to approximately 5 lakh tonnes, significantly below the estimated demand of 9.41 lakh tonnes, marking a second consecutive month of shortfall. April's sales were similarly low at 2.2 lakh tonnes against a demand of 7.81 lakh tonnes. As sowing season begins, farmers may be forced to turn to more expensive complex fertilizers due to inadequate DAP supply. Punjab's Agriculture Minister Gurmeet Singh Khuddian raised concerns over the shortage with Union Agriculture Minister Shivraj Singh Chouhan, urging for expedited supply. Despite domestic DAP production reaching a recent high of 3.84 lakh tonnes in May, imports have reportedly declined compared to last year. The government aims to ensure timely fertilizer availability to support crop productivity, while also promoting sustainable agricultural practices through the PM-PRANAM initiative, which incentivizes reduced chemical fertilizer usage.
Published: Jun 06 2025, 8 pmeznews.inOn June 5, the National Academy of Agricultural Sciences (NAAS) celebrated its Foundation Day by honoring _businessline_’s Deputy Editor, Prabhudatta Mishra, for his significant contributions to agricultural journalism. NAAS President Himanshu Pathak highlighted Mishra's nearly three-decade career, during which he has extensively reported on critical issues such as agricultural trade, food security, and policy matters, effectively bringing these topics to the forefront of media discourse. The event also recognized other notable figures, including Harvir Singh, Editor-in-Chief of Rural Voice, and two Padma awardees, alongside NAAS fellows and distinguished agricultural scientists. This recognition underscores the vital role of journalism in addressing and promoting awareness of agricultural challenges in India.
Published: Jun 06 2025, 8 pmeznews.inThe Indian government is actively exploring ways to enhance the capabilities of home-grown accounting, audit, and advisory firms, as highlighted by Rakesh Nangia, Managing Partner of Nangia & Co LLP. He emphasized the strategic importance of fostering large-scale Indian firms to align more closely with the local regulatory and business landscape, akin to the success of the IT sector. Nangia pointed out that Indian firms possess a competitive edge through their understanding of local regulations and client needs, enabling them to provide agile, customized solutions. He called for policy measures such as promoting Indian firms in public sector procurement, ensuring regulatory parity, and investing in talent development to help these firms scale and compete globally. With the right support, Indian audit and advisory firms could emerge as significant players in the global market, aiming for a 35% year-on-year growth while focusing on innovation and quality service delivery.
Published: Jun 06 2025, 7 pmeznews.inThe recent reduction in import duty on edible oils, including palm, soya, and sunflower, is expected to benefit FMCG companies by improving their margins and stabilizing input costs, experts say. Palm oil, a crucial ingredient for many food products and soaps, constitutes 25-30% of raw material costs for food companies, and the duty cut is anticipated to help mitigate consumer inflation. Mayank Shah, VP of Parle Products, noted that while consumer prices may not change significantly, the reduction will help maintain current pricing levels. The government’s decision, effective May 31, 2025, aims to lower food prices and comes as global palm oil prices show signs of softening. Companies like Godrej Consumer Products and others in the food sector, including Britannia and Nestle, are poised to benefit from this move, which follows a period of rising input costs that pressured FMCG gross margins.
Published: Jun 06 2025, 7 pmeznews.inThe Indian Navy is set to commission its first Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), named 'Arnala', on June 28 at Naval Dockyard, Visakhapatnam. Delivered on May 8, Arnala was jointly produced by Garden Reach Shipbuilders & Engineers (GRSE) and L&T Shipbuilders, under the guidance of the Directorate of Ship Production. The warship, named after the historic Arnala Fort in Maharashtra, embodies India's maritime heritage and is designed to maintain a formidable presence at sea. With over 80% indigenous content, Arnala integrates advanced systems from leading Indian defence firms and has involved over 55 Micro, Small, and Medium Enterprises, bolstering domestic industry. Measuring 77.6 meters in length and weighing over 1,490 tonnes, it is the largest Indian Naval vessel powered by a Diesel Engine-Waterjet combination, equipped for various operations including subsurface surveillance and search and rescue missions.
Published: Jun 06 2025, 7 pmeznews.inThe Reserve Bank of India (RBI) has maintained its GDP growth forecast for FY26 at 6.50%, with Governor Sanjay Malhotra highlighting the resilience and potential of the Indian economy. While the retail inflation projection has been revised down to 3.70% from 4%, Malhotra acknowledged that growth remains below the aspirational target of 8% due to global uncertainties. He emphasized the strength of India's economy, supported by robust balance sheets across key sectors, and noted stability in price, financial, and political domains, which fosters economic certainty. Malhotra outlined the opportunities for investors through the "3Ds" of demography, digitalisation, and domestic demand, asserting that these fundamentals will help shield the economy from global shocks. He also announced a 50 basis points cut in the repo rate to 5.50% and a shift in monetary policy stance to "neutral," aimed at enhancing domestic growth while ensuring price stability.
Published: Jun 06 2025, 7 pmeznews.inTrade negotiations between Indian and US officials have been extended into next week as both nations strive to reach an agreement on tariff reductions in the agricultural and automotive sectors before a July 9 deadline. A US delegation, led by senior representatives from the Office of the United States Trade Representative, engaged in two days of discussions in New Delhi with Indian negotiators, including chief negotiator Rajesh Agrawal. The talks aim to enhance market access and reduce both tariff and non-tariff barriers. Many Indian exporters have reportedly delayed shipments to the US, concerned that their goods may not arrive before the deadline. Despite a significant increase in India's exports to the US, which rose nearly 28% year-on-year to $37.7 billion in early 2025, India remains resistant to US demands for greater access to its agricultural markets, citing the potential impact on local farmers.
Published: Jun 06 2025, 7 pmeznews.inA recent report by Protiviti highlights significant investment trends among banks in anticipation of the Digital Personal Data Protection Act (DPDPA), 2023. It reveals that 37% of high-revenue organisations, particularly those with revenues exceeding ₹1,000 crore, plan to allocate over ₹5 crore for privacy programs, while only 4% of low-revenue organisations are making similar investments. The report underscores the importance of data fiduciaries and processors in the banking sector, emphasizing that banks must ensure compliance from their outsourced vendors. Additionally, the introduction of a consent manager role under the DPDPA aims to streamline compliance for banks. However, challenges remain, particularly regarding the processing of children's data, which requires parental consent, adding complexity to account creation processes. The report calls for robust contractual agreements and oversight to ensure effective implementation of these new regulations in banking operations.
Published: Jun 06 2025, 6 pm
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