Top headlines: Aug GST collection Rs 1.12 trn; AU SFB clears air on exits

GST collection in August at over Rs 1.12 trillion: Govt

GST revenue remained above Rs 1 trillion-mark for the second straight month in August at over Rs 1.12 trillion, 30 per cent higher than the collection in the year-ago period, the finance ministry said on Wednesday.

The mop up in August is, however, lower than Rs 1.16 trillion collected in July 2021. Read more

Top-level exits: AU SFB says ‘nothing to hide’ on disclosure issues

Jaipur-based AU Small Finance Bank (AU Bank) on Wednesday tried to allay concerns of investors and depositors with regard to top-level resignations in recent months, saying that it is a “simple HR issue” that the company management is trying to resolve.

Concerns were raised over transparency issues as there has been a lag on part of the bank to make disclosure about the top-level resignations. Read more

India to offer indemnity to Air India bidder over Cairn claim: Report

India is set to absolve bidders for its loss-making flag carrier from any liability arising out of a lawsuit filed by Cairn Energy Plc, which has claimed the state-run airline’s assets over a long-running tax dispute with the government, according to people familiar with the matter.

Prime Minister Narendra Modi’s administration will offer so-called indemnity to the financial bidders of Air India Ltd., which the government has repeatedly tried to sell without success, the people said, asking not to be identified as the matter is confidential. Read more

Maruti reports 5% increase in total sales at 130,699 units in August

The country’s largest carmaker Maruti Suzuki India Ltd (MSIL) on Wednesday reported a 5 per cent increase in total sales at 1,30,699 units in August 2021, amid electronic components shortage.

The company had sold 1,24,624 units in the same month last year, Maruti Suzuki India (MSIL) said in a statement. Read more

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor