Passengers at Delhi and Mumbai airports could face user charges rising up to 22 times after the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) revised the tariff formula for FY09-FY14, leading to over ₹50,000 crore in under-recovery for the operators. This shortfall will likely be recouped through higher user development fees (UDF), landing, and parking charges, potentially driving up airfares and slowing passenger growth at India’s busiest hubs.
RBI likely sold $12 billion in gold reserves amid rupee pressure
India’s central bank, the Reserve Bank of India (RBI), is estimated to have sold nearly $12 billion worth of gold reserves within a two-week period ending May 22. The assessment, based on...
