Ola and Uber will not come to Goa, says CM Pramod Sawant
The announcement came after taxi operators in the state and some MLAs raised concerns about the Goa Transport Aggregator Guidelines, which were published in the gazette on May 20. The guidelines outline the framework to regulate app-based taxi and bike taxi operators through licensing fees, tariffs and incentives.
Taxi unions fear this will enable the entry of app-based cab services in the state.
'People should not create confusion,' Sawant was quoted as saying by The Indian Express. 'These are the guidelines brought out for aggregators. Ola and Uber are not coming here. We have to put a system in place.'
The Goa chief minister added that the government would 'take all the stakeholders – taxi owners, hoteliers and MLAs – everyone into confidence' to resolve the matter.
The state transport department had invited feedback and objections to the guidelines within 30 days, The Indian Express reported.
On June 9, hundreds of taxi drivers submitted formal objections at the department's Panaji office.
Scroll has previously reported on the state government's efforts to introduce app-based taxis, which were met with protests.
Taxi unions argue that the conflict over app-based services boils down to a question of employment for locals and that allowing large corporations with deep pockets to launch services in the state will result in 'outsiders' taking away jobs from the locals.
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Indian Express
an hour ago
- Indian Express
Not just stalking accused, several VIP relatives on list of law officers appointed by Haryana govt
THE Haryana government may be having a rethink over the appointment of Vikas Barala, an accused in a sexual harassment case, as Assistant Advocate General, but a scrutiny of the list shows that like Barala, many of those appointed as law officers are relatives of VIPs, including politicians and bureaucrats. This, ironically, when the Supreme Court, as early as 2016, had cautioned against such appointments and advised guidelines to insulate the process from politics. On July 18, Vikas Barala, the son of BJP Rajya Sabha MP and former Haryana BJP president Subhash Barala, was named as one of 97 law officers in the state. Talking to The Indian Express, Advocate General Pravindra Singh Chauhan said: 'As far as Vikas Barala is concerned, he has not joined yet…I was not aware of the background (of Vikas Barala). I don't think he (Vikas) will join.' AG Chauhan told The Indian Express that it was wrong to see all from one lens. 'I have seen their (the new appointees') working. All of them are competent lawyers. They have not made it to these posts due to their surnames, but only due to their competence. All the selections have been made on merit.' The AG's office in Haryana put out an advertisement in January for 100 posts of law officers (including 20 Additional AGs, 20 Senior Deputy AGs, 30 Deputy AGs and 30 Assistant AGs). A Selection Committee was then set up, with AG Chauhan as its head, and Special Secretary (Home) Maniram Sharma, 'Legal Remembrancer' Ritu Garg, and retired judges Darshan Singh and H S Bhalla as members. Of the 97 chosen, The Indian Express found, at least 23 have links to either politicians, bureaucrats or judges. These include at least seven close relatives of retired or serving high court judges, seven close relatives of IAS-IPS officers, seven close aides of BJP ministers or MLAs, and relatives of officials of the Punjab and Haryana High Court and the State Bar Council of Punjab and Haryana. Aakash Singla, who has been appointed as Additional AG and whose father is a former head of the Bar Council of Punjab and Haryana, told The Indian Express, 'I have been practising since 2012 and it is my first stint in the Haryana AG's office. I was earlier on the panel of Punjab and Haryana High Court.' Also appointed as Additional AG, Ruchi Sekhri, the BJP state secretary, Chandigarh, said, 'I have been practising for the last 22 years. It is my first stint in the Haryana AG's office.' Vasundhara Dalal Anand, the daughter of a former DGP who is also among the new Additional AGs, said she had been practising for over two decades and had earned her law degree from Delhi University. Another newly appointed Additional AG, not willing to be named, said she had been practising for nearly 15 years, and had earlier been with the Punjab AG's office. While an Additional AG in Haryana is entitled to Rs 1.8 lakh per month, apart from Rs 25,000 as retainer fee, a Deputy AG gets Rs 1.28 lakh, and an Assistant AG such as Vikas Barala Rs 88,400 per month. All the appointments are on a provisional/contract basis, and for a period of a year to begin with. A law officer's duties include giving advice to the state government in legal matters; to appear and defend the state government or its officials or any statutory authority before a court or tribunal; to represent the state government in any reference made by the President to the Supreme Court; and to discharge such other functions as are conferred on a law officer. The law officers are barred from appearing in any court of law 'against the interest of the state government'. Additionally, the AG can engage up to five advocates who 'possess such special qualifications and experience as deemed suitable for Law Officers'. The Haryana Law Officers' Engagement Act, 2016, says the candidates must be advocates, picked as per eligibility, merit and suitability, including the number of cases handled by them. While Barala's appointment has raised a row, such appointments took place under previous governments too. It was this that led to the Supreme Court curtailing the discretion of Punjab and Haryana governments in appointing law officers in March 2016, while advising guidelines for the same on the basis of merit and eligibility. Hearing a bunch of cases challenging law officers' appointments, a Bench of Chief Justice of India T S Thakur and Justice Kurian Joseph said: 'For a fair and objective system of appointment, there ought to be a fair and realistic assessment of the requirement. For otherwise, the appointments may be made not because they are required but because they come handy for political aggrandisement, appeasement or personal benevolence of those in power towards those appointed.' Rejecting the states' argument that appointments of law officers were contractual in nature and not public employment, the Court pointed out that the persons chosen lead some of the most important cases involving public interest. The Court also said that while its directions were confined to Punjab and Haryana, 'other states would (also) do well to reform their system of selection and appointment to make the same more transparent, fair and objective'. Subsequently, the BJP government in Haryana passed the Haryana Law Officers' Engagement Act in September 2016. Asked about Vikas Barala's appointment, former Haryana CM Bhupinder Singh Hooda of the Congress said: 'I do not comment on individuals, but all I can say is that only competent people should be appointed (as law officers).' Another senior state politician said, 'It is commonly known that many of these appointments are political appointments. Of course, many of those who have political or bureaucratic linkages are also bright and competent and make it due to their competence, and not only due to their surnames.' Incidentally, on Thursday, hearing a case on the appointment of Punjab AG Maninderjit Singh Bedi, a Division Bench of the High Court held that 'you cannot succeed in the challenge to an office of Advocate General just by saying he is politically affiliated with some party… That cannot be a disqualification'. Meanwhile, in a Facebook post Thursday, Varnika Kundu, who had accused Vikas Barala of stalking and attempted abduction, said: 'Appointing someone to a public position of power is not just a political decision – it's a reflection of values and standards… Our policymakers run the country; the rest of us are just hoping they remember that they work FOR the INDIAN CITIZEN. What I will speak about is my own case – and the fact that despite months of national media attention, it has dragged on for this long with little progress… I continue to hold faith in the judiciary until the verdict is announced – but I won't deny that faith has wavered.'
Time of India
an hour ago
- Time of India
TCS axes 12,000 jobs; Ola loses steam in EV race
TCS axes 12,000 jobs; Ola loses steam in EV race Also in the letter: TCS to lay off 12,000 employees after tepid Q1 Quote, unquote: Parting gift: Affected employees will receive payment for their notice periods and an additional severance package. TCS will continue insurance coverage and offer outplacement assistance to help transition. The company also plans to provide counselling and support as laid-off staff explore new opportunities. Hiring slack: Also Read: Ola's Krutrim to lay off linguistics team Tell me more: Zoom out: Ather Energy narrows gap with Ola Electric as EV sales decline amid rare earth magnet crunch Volume slide: The volume gap between the two has shrunk dramatically. Only 526 units separated them in July, down from over 5,000 in June. It isn't just an Ola problem. The overall EV two-wheeler market contracted by 21.6% month-on-month in July. Legacy players TVS Motor and Bajaj Auto also suffered, reporting sharp sequential drops of 31% and 27.4%, respectively. Rare earth concerns: China's curbs on rare earth magnet exports have begun to bite, forcing several EV makers, including Ather, Bajaj, and TVS, to prepare production cuts, as we reported earlier this month. These magnets are critical to motors that power most electric scooters. Also Read: Ola's challenges: Sales data discrepancies, vehicle quality complaints and missing trade certificates at several of its retail outlets have added to the pressure. The company's stock has been underwhelming since its debut, closing Friday at Rs 41.2 on the BSE, nearly half its IPO price of Rs 76. Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Lenskart gets shareholder nod to raise Rs 2,150 crore via IPO Driving the news: Road to listing: Lenksart is expected to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in the coming days. The total issue size is likely to be around $1 billion, according to people aware of the matter. All aboard: PaySense cofounder Sayali Karanjkar and IndMoney founder Ashish Kashyap have joined the board as independent directors. Peyush Bansal takes charge as chairman, managing director and CEO of Lenskart. Neha Bansal and cofounder Amit Chaudhary have been appointed executive directors Al so Read: Quick fashion delivery startups lean on AI, try-and-buy to cut costly returns Returns in focus: Knot said partner brands that see almost 20% return rates online are now clicking under 1% in offline trials, thanks to digital interventions. Slikk, which is testing an 'instant returns' option, claimed return rates are 40–50% lower than on traditional platforms. Other venture-backed startups such as Zilo and Zulu Club are also experimenting with similar tools. Myntra, meanwhile, said its MNow quick delivery offering is seeing fewer returns, citing shorter delivery windows as the reason. Investor interest: For labels, it is a way to prevent sales loss from stuck inventory. For shoppers, it means less money is held up in refund cycles. Old idea, new bets: Viability question: Also Read: Keeping Count Other Top News By Our Reporters GCC hiring hotspot: Amagi Media files for IPO: Global Picks We Are Reading Happy Monday! India's largest software exporter is trimming 2% of its workforce as demand woes persist. This and more in today's ETtech Morning Dispatch.■ Lenskart IPO plans■ Quick fashion plays 'no return' game■ Mid-tier GCC hiring picks upK Krithivasan, CEO, TCSTata Consultancy Services, India's largest software exporter, is laying off over 12,000 employees —about 2% of its 613,069-strong workforce—as macro headwinds and disruptions weigh on business demand.'TCS is on a journey to become a future-ready organisation… As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible,' the company said in a top six IT firms added just 3,847 employees in the June quarter, down 72% from 13,935 in the March TCS and Infosys reported a net headcount increase during the AI unit, Krutrim, is laying off most of its linguistics team , just months after hiring them. The move follows a pivot in company strategy and delays in 100 full-time linguists, hired to train Kruti, Ola's new AI assistant, are being let go, according to people familiar with the to internal documents reviewed by ET, the layoffs stem from a shift in organisational priorities triggered by external Aggarwal, CEO, Ola Electric & Tarun Mehta, CEO, AtherOla Electric's pivot from aggressive growth to profitability is starting to show cracks. Its market share in the electric two-wheeler segment slipped to 17.2% as of July 27 , with rival Ather Energy now breathing down its neck at 16.5%.Much of the slowdown stems from a growing supply meanwhile, is grappling with more than just supply Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Bansal, CEO, LenskartLenskart shareholders have approved the eyewear retailer's plans to raise Rs 2,150 crore ($250 million) through an initial public offering (IPO), according to regulatory filings with the Registrar of the annual general meeting on Saturday, the omnichannel brand secured the go-ahead to tap the public markets, a major step in its expansion in the 60-minute fashion delivery race are leaning on 'try and buy' options and artificial intelligence (AI)-powered virtual try-ons to tackle one of ecommerce's thorniest problems : high return believe these features could slash return rates by 15–20 percentage points, unlocking serious savings for both platforms and first tried this in 2016, but the idea fizzled out due to supply chain constraints and patchy delivery networks, industry executives told us. Now, logistics have improved, but challenges increases costs, as delivery executives must wait while customers decide. Some items still get returned, straining already tight by mid-size GCCs, defined as those with 500–2,000 employees, increased by 10–12% in the six months ending June, compared with a 4–6% growth among large GCCs, according to data from staffing services provider Quess to the draft IPO papers filed with the market regulator, Amagi plans to raise Rs 1,200 crore through a fresh issue of shares. Additionally, investors such as Norwest Venture Partners, Accel, and Premji Invest plan to sell up to 34.2 million shares through an offer for sale (OFS).■ Bryan Johnson is going to die ( Wired ■ Breaking down Trump's big gift to the AI industry ( The Verge ■ Saudi Aramco wants a Google spinoff to turn its waste into wealth ( Rest of World
Indian Express
4 hours ago
- Indian Express
Debt on Plastic: Credit card delinquencies surge 44% to Rs 33,886 crore amid rising consumer spending
India's credit card economy, a symbol of growing consumer confidence and digital empowerment, is showing some signs of strain. Credit card delinquencies in the 91–360 days overdue category have soared by a staggering 44.34 per cent over the past year, reaching Rs 33,886.5 crore as of March 2025, up from Rs 23,475.6 crore in March 2024, according to the latest data from CRIF High Mark. This sharp rise highlights a growing vulnerability among borrowers, particularly in the 91–360 days category, a segment that banking regulations categorise as non-performing assets (NPAs) in the case of bank loans. Effectively, credit card holders have defaulted on nearly Rs 34,000 crore of debt that has remained unpaid for over 91 days. The breakdown of distress A closer look at the numbers reveals a disturbing trend. In the 91–180 days overdue segment alone, the delinquent amount jumped to Rs 29,983.6 crore, compared to Rs 20,872.6 crore a year earlier, and has almost doubled from the March 2023 level, data prepared by CRIF High Mark for The Indian Express says. This reflects not just a growing reliance on credit but a mounting inability — or unwillingness — to repay on time. CRIF High Mark, a credit bureau registered with the Reserve Bank of India (RBI), noted a steady uptick in the percentage of portfolio at risk (PAR), which tracks overdue payments. In March 2025, PAR in the 91–180 day bucket reached 8.2 per cent, rising from 6.9 per cent in March 2024 and 6.6 per cent in March 2023 — a consistent three-year climb. For loans overdue 181–360 days, the PAR rose to 1.1 per cent, up from 0.9 per cent in 2024 and 0.7 per cent in 2023. These trends signal both short-term and long-term stress in the unsecured credit market, especially as consumers lean heavily on plastic for everyday and discretionary spending. Credit card outstanding was Rs 2.90 lakh crore as of May 2025 as against Rs 2.67 lakh crore in May 2024, according to the RBI. A credit-driven consumption boom The increase in delinquencies is set against the backdrop of an explosive rise in credit card usage across the country. The value of credit card transactions reached Rs 21.09 lakh crore by March 2025, surging from Rs 18.31 lakh crore the previous year — a nearly 15 per cent jump. This boom mirrors India's post-pandemic economic recovery and reflects rising consumer confidence. Credit card spending in May 2025 alone was Rs 1.89 lakh crore, up dramatically from Rs 64,737 crore in January 2021. Likewise, the number of credit cards in circulation has ballooned. As of May 2025, 11.11 crore credit cards were active in India, compared to 10.33 crore in May 2024 and just 6.10 crore in January 2021, according to RBI data. People tend to borrow and spend more when they're optimistic about their financial future, but may also rely on credit cards to maintain their standard of living when wages stagnate or prices rise, said an investment analyst. Rewards, offers — and debt traps What's fuelling this sharp uptick in usage? Banks and fintech firms have aggressively promoted credit card adoption with attractive incentives: cashback rewards, travel perks, interest-free EMIs, and airport lounge access. For many consumers, especially in urban and upwardly mobile segments, credit cards have become synonymous with convenience and lifestyle. But the ease of swiping has come with a hidden cost. Credit card debt is among the most expensive forms of borrowing in India. Banks typically charge between 42 per cent and 46 per cent annual interest on unpaid balances beyond the interest-free period. 'Customers often get lured by flashy offers and rewards. But if they don't repay on time, they end up paying exorbitant interest,' said a senior bank official. A few missed payments can quickly spiral into a debt trap.' Why it matters The sharp increase in delinquencies poses a risk not just to individual borrowers but also to the broader financial system. Credit card loans are unsecured, meaning they are not backed by collateral. Rising defaults can affect banks' balance sheets and prompt tighter lending norms, thereby slowing credit growth, a key driver of consumption in India. The RBI indeed hiked the risk weight on credit card outstanding in 2023. Moreover, defaults affect credit scores. For individuals who fall behind on payments, the financial impact is immediate and long-lasting. A damaged credit score or history can limit future access to loans, credit cards, or even rental agreements and job opportunities in some sectors. While credit cards offer flexibility and financial freedom, their misuse or overuse can have serious consequences. As more Indians embrace digital credit, the focus must now shift from spending to managing debt responsibly, experts say. Banks, regulators and fintechs need to step up educational initiatives around interest rates, billing cycles, and repayment discipline. For consumers, the message is clear: credit cards are a tool — not free money. Use them wisely, or risk paying a heavy price.
