Byju’s has rolled back the decision to relocate 140 employees at one of its offices in Kerala after founder Byju Raveendran’s meeting with Chief Minister P Vijayan and announced plans to hire 600 people in the state. The edtech major gave an option to all its 140 staff working at TVM product development centre in Thiruvananthapuram to relocate to Bengaluru as it was planning to shut down the Thiruvananthapuram office as part of its cost optimisation strategy. All these employees were also offered an assured path to return to Byju’s in case they are unable to find a job in the next 12 months.

RBI Governor Shaktikanta Das on Wednesday defended the Reserve Bank’s handling of the price situation, saying acting prematurely on inflation would have exerted a heavy cost on the economy and citizens. Acknowledging that the inflation target has been missed, Das said the RBI decided to support the economy by not introducing a rate hike in face of a spike in inflation. “We prevented a ‘complete collapse of the economy’ by keeping rates lower and stayed away from premature tightening,” Das said speaking at the annual FIBAC conference of bankers in Mumbai.

Domestic commercial-vehicle (CV) sales volume will witness significant growth over the next few years and the overall CV volume is likely to reach close to 1-million units by FY24, a report said on Wednesday. The report by credit ratings agency Fitch Ratings also expects growing demand and the resultant rise in operating leverage to boost the profitability of the domestic CV-focused original equipment manufacturers after FY22, despite elevated production costs. A recovery in medium and heavy CVs from multi-year lows, along with sustained growth in light CV categories, will help overall CV volume to reach close to 1-million units by FY24 – the level of the last cyclical peak recorded in FY19, it said.

Google has said that it is pausing enforcement of Google Play billing system (GPBS) for developers in India. This comes after the Competition Commission of India (CCI) imposed a penalty of Rs 2,275 crore in two cases and an immediate cease-and-desist order of its policies of running the Android Mobile device and Play Store ecosystem. In a statement, the company said, “Following the CCI’s recent ruling, we are pausing enforcement of the requirement for developers to use Google Play’s billing system for the purchase of digital goods and services for transactions by users in India.

Domestic passenger vehicle (PV) sales saw a significant growth in October due to increased availability of semiconductor chips and rising consumer confidence. The sales figures during the month – which coincided with the first post-Covid festival season – released by the top ten carmakers saw a jump of 30.7 per cent to 322,885 units in October. Auto companies count wholesales – units dispatched to dealers – as sales.