Top headlines: Air India returns to Tatas; PMC Bank resolution moves ahead

Government seeks India-specific standards for 5G spectrum in telecom. More on that story in our top headlines.

Air India's handover has come as a culmination of the government’s attempt to transfer the ownership of the loss-making airline to a private owner. More on that in our top headlines this morning.

Maharaja set for take-off: Tatas get control of Air India, after 7 decades 

The Tata Group on Thursday regained ownership of Air India, 69 years after the airline was nationalised. The salt-to-software conglomerate promised to turn the loss-making carrier into a world-class airline. Read more

India's high foreign exchange reserves not enough to shield rupee 

With crude oil touching $90 a barrel in international markets, India’s record foreign exchange (forex) reserves of $634 billion may not be enough to shield the rupee from the adverse effects of a spike in oil prices. There has been a sharp rise in India’s overall import bill in the first nine months of FY22, leading to a decline in import cover despite record forex reserves. Read more

DoT drops plan on local 5G standards after strong opposition from telcos 

The Department of Telecommunications (DoT) is dropping its contentious plan to push for a separate India-specific standard for 5G -- also known as 5Gi -- after strong opposition from telecom companies. Read more

Payout to be Rs 4k cr to return up to Rs 5 lakh to PMC depositors: Centrum 

Following the government approving the scheme of amalgamation of Punjab and Maharashtra Cooperative Bank with Unity Small Finance Bank, the former will start the process of paying the first tranche of deposits, which is up to Rs 5 lakh to the PMC depositors. Read more

Union Budget 2022-23: Clarity on tax compliance needed, say experts

Finance Minister Nirmala Sitharaman should look at rationalising some tax provisions to ease the burden of compliance and regulation, experts said ahead of the Union Budget 2022-23, even as the expectation is that there won’t be any changes in the corporate or personal income tax rates. Read more