The RBI’s new rules on auto-debit, which came into effect on Oct 1, may have been haphazardly implemented. How have they played out for subscription businesses? Let’s take a look

The RBI's new rules on auto-debit, which came into effect on Oct 1, may have been haphazardly implemented. How have they played out for subscription businesses? Let's take a look

RBI's auto-debit ban a death blow to subscription business?

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A contractor company mandated to deliver 2,100 electric buses to BEST by May 2023 has supplied only 536 buses over three years since the contract was signed, forcing the Mumbai transport service provider to operate with a reduced fleet and scaled-down services.
BEST has stated that all buses are now "proposed to be delivered" by August 2025.
The company, Olectra Greentech, attributed the delay to disruptions in the supply of battery-fitted chassis from its technology partner, BYD.
BEST buses, often considered the arteries of Mumbai's transport network, provide crucial last-mile connectivity for commuters.
Over 30 lakh passengers rely on BEST buses daily across the metropolis and its extended suburbs.
However, the shortage of buses has led to prolonged waiting times and overcrowding.
Under a May 2022 contract, EveyTrans Pvt Ltd, a subsidiary of Olectra Greentech, was supposed to supply 2,100 e-buses under the wet lease model to Brihanmumbai Electricity Supply and Transport Underta

The company, Olectra Greentech, attributed the delay to disruptions in the supply of battery-fitted chassis from its technology partner, BYD

Commerce and Industry Minister Piyush Goyal on Sunday criticised attempts of certain firms to secure pharmaceutical patents through minor incremental innovations, stating that such practices could deprive millions from access to affordable medicines.
Just for the "super-natural" profits of a few companies and their shareholders, the world has to suffer and is deprived of quality and equitable healthcare, he said.
"I received requests very often that we should also allow pharmaceutical companies... to have incremental changes to their patents and allow them to have a fresh patent for another long period of time, which we normally understand that as evergreening of patents.
"It is so sad that just for the profit of a few companies, just for the supernatural profits of a select few companies and possibly their shareholders, the world has to suffer," he said here at an event.
Section 3(d) of the Indian Patents Act, 1970 restricts patents for already-known drugs unless the new claims ar

Just for the "super-natural" profits of a few companies and their shareholders, the world has to suffer and is deprived of quality and equitable healthcare, he said

The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday presented a Rs 40,187 crore-budget for the megapolis.
Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement. The revenues have been estimated at Rs 36,939 crore, and the body chaired by Deputy Chief Minister Eknath Shinde will be borrowing Rs 22,000 crore.
This will result in a budget deficit of Rs 3,249 crore, which the body plans to bridge through land sales, issuance of bonds, financial assistance from the government, and loans from financial institutions, the statement said.
The ongoing metro line projects have been earmarked Rs 10,969 crore of expenditure in the new fiscal, which is a fourth of the overall expenditure..
Over Rs 5,697 crore have been allotted for multiple tunnel projects which are going across the megapolis, with Rs 2,684 crore earmarked for the four-lane road running under the Sanjay Gandhi National 

Infrastructure spends across projects have been pegged at Rs 35,151 crore or 87 per cent of the overall expenditure, as per an official statement

The Rajya Sabha on Thursday returned the Finance Bill 2025 to the Lok Sabha, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements, thus completing the 2025-26 budgetary exercise that started on February 1.
The House also returned the Appropriation Bill (3) with a voice vote.
Earlier in the day, Finance Minister Nirmala Sitharaman had moved the two bills in the House.
The Lok Sabha had passed the Finance Bill on March 25 and passed the Appropriation Bill on March 21.
Replying to the debate later in the evening, she said the tendency of the finance ministry would be to exercise caution and not let go of revenues.
"But, here we wanted to use this opportunity to show our respect for Indian taxpayer. We have moved towards setting Rs 12 lakh as threshold up to which no one will have to pay any tax," Sitharaman said.
The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 lakh crore, an increase of 7.4 per cent ov

The Union Budget 2025-26 envisages a total expenditure of Rs 50.65 trillion, an increase of 7.4 per cent over the current fiscal

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RBI's auto-debit ban a death blow to subscription business?

The RBI’s new rules on auto-debit, which came into effect on Oct 1, may have been haphazardly implemented. How have they played out for subscription businesses? Let’s take a look

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