Surinder Chawla, the Managing Director and CEO of Paytm Payments Bank Limited (PPBL), has tendered his resignation, according to a stock exchange filing by Paytm. The resignation, attributed to "personal reasons," was announced by PPBL. Chawla's departure comes amidst regulatory scrutiny, with the RBI barring Paytm Payments Bank from onboarding new customers earlier this year due to compliance issues. Paytm stated that Chawla will be relieved from his position by June 26, 2024, unless otherwise mutually agreed upon. The company expressed gratitude for his contributions and wished him success in his future endeavors.

Ride-hailing giant Ola announces the cessation of operations in the UK, Australia, and New Zealand to concentrate on its India business. Promoter ANI Technologies cites rapid growth and profitability in India, emphasizing the country's potential for electric mobility expansion. The decision reflects a strategic reassessment, aligning with Ola's mission to serve India's billion-strong population. Despite a narrowing consolidated net loss in FY23, Ola remains optimistic about leading India's mobility ambitions with technology-driven innovation, aiming for continued industry growth.      

In a historic milestone, the BSE Sensex breaches the 75,000-mark for the first time ever, climbing 381.78 points to hit an all-time peak of 75,124.28. Simultaneously, the NSE Nifty advances 99 points, reaching its record high of 22,765.30. The surge is fueled by buying in IT stocks, with major gainers including Infosys, Tech Mahindra, and Tata Consultancy Services. Despite laggards such as JSW Steel and Reliance Industries, the bullish trend persists. Global markets show mixed signals, while FIIs offload equities worth Rs 684.68 crore. Analysts anticipate continued outperformance of large caps amidst the bullish market undertone.

Maruti Suzuki launches its fiscal year with lucrative discounts of up to INR 1.5 lakhs on select Nexa range models including Baleno, Ignis, Ciaz, Grand Vitara, Fronx, and Jimny. Discounts vary by model with offers such as cash discounts, exchange bonuses, and corporate benefits. Notably, Baleno sees a cash discount of INR 35,000, while Ignis offers up to INR 58,000 off. Maruti aims to attract customers amidst the competitive automotive market, encouraging potential buyers to seize the opportunity by contacting their nearest dealer for specific offers and availability details.            

Tesla CEO Elon Musk announced plans for the introduction of electric vehicles (EVs) in India, following reports of land offers from Maharashtra, Gujarat, and Telangana for a manufacturing plant. With a potential investment between USD 2 to 3 billion, the plant aims to meet both domestic and international demand. India's new EV policy, requiring a minimum investment of ₹4150 crore and significant domestic value addition, aligns with Tesla's entry strategy. Union Minister Nitin Gadkari also expressed confidence in eliminating petrol and diesel cars, emphasizing India's transition towards sustainable transportation.            

Skoda Auto India is reintroducing its flagship sedan, the Superb, to the Indian market, priced at Rs 54 lakh (ex-showroom). Limited to 100 Fully Built Units (FBUs) in the Laurin & Klement trim, it boasts a powerful 2.0 TSI EVO turbo petrol engine and exclusive 7-speed DSG transmission. With 625 litres of boot space expandable to 1,760 litres, the Superb offers unmatched versatility. Features include a 26cm Virtual Cockpit, 23.36cm Columbus system with wireless charging, 12-way adjustable electric seats, and segment-exclusive Dynamic Chassis Control. Safety features include 9 airbags and Euro NCAP 5-star ratings.

Vistara, facing operational challenges, plans to onboard Air India first officers to alleviate its pilot crisis. However, due to mandatory training protocols, resolution may be delayed. The Directorate General of Civil Aviation mandates a 40-day training for these officers, including simulator and line training. Despite both airlines belonging to the Tata Group, formal training processes must be adhered to. Air India itself faces a shortage of first officers, complicating the situation. Vistara recently announced scaling back operations to mitigate pressure on pilots. Challenges persist as pilot discontent over revised contracts persists amidst the merger with Air India.

India's stock market soared to unprecedented heights today, as both the Sensex and Nifty indices reached historic peaks. This surge was fueled by positive trends observed in global markets, particularly in the United States. The Sensex surged to an impressive 74,658 points, while the Nifty touched an all-time high of 22,623 points. Notably, investors showed strong interest in sectors such as information technology (IT) and automotive industries. Additionally, gains were witnessed in energy, real estate, and metal sectors. However, Wipro, an IT giant, faced a slight setback following the resignation of its CEO.  

Vistara Airlines announces a 10% reduction in operations, equivalent to 25-30 flights per day, to address recent flight delays and cancellations. The move aims to minimize inconvenience to passengers, with affected travelers already reassigned to alternative flights. CEO Vinod Kannan apologizes for disruptions and clarifies that 98% of pilots have accepted new contracts, despite some concerns. The airline faced a shortage of pilots earlier this week, prompting flight cancellations. Amidst its merger with Air India, Vistara pilots protest revised contracts, prompting discussions with the Tata Group.    

Air India unions back Vistara pilots protesting merger, pay scale, and rostering issues, alleging pilot exploitation akin to "bonded labourers". In a letter to Tata Group Chairman, unions cite systemic issues across Tata airlines, including Air India and Air India Express. They demand dialogue and resolution of grievances, emphasizing pilots' safety concerns amid alleged HR threats. Unions stress the need for respect, dignity, and fair treatment for pilots, urging Tata Group's commitment to employee welfare. Support for Vistara pilots signals broader concerns within Tata aviation ventures.