Brands
Fasten your card belts Niyo delivers travel banking at jet speed
MUMBAI: Passport? Check. Luggage? Check. Forex card… still stuck in the mail? Not anymore. India’s travel fintech disruptor Niyo has just rolled out Niyo Express, a 24-hour doorstep delivery service for its international debit card and it’s aimed squarely at last-minute jet-setters. For those who treat travel plans like pop quizzes, this might just be the perfect lifeline.
Available across Delhi NCR, Mumbai, Pune, and Bengaluru, Niyo Express promises to swoop in and save the day getting a Niyo DCB Debit Card into travellers’ hands within 24 hours, complete with doorstep KYC, account setup, and card activation. And for now, it’s completely free.
This rapid-response rollout isn’t random. Niyo dug deep into shifting travel behaviours and found that 48 per cent of flight bookings in 2024 were made just 0–7 days before departure, with over 41 per cent of international travellers leaning toward visa-free destinations to accommodate spontaneous trips. So, in a world of impulsive getaways, delayed cards and sky-high forex rates were becoming all-too-familiar travel tantrums.
Leisure getaways account for nearly 40 per cent of last-minute trips, while work travel and family emergencies make up a significant chunk too, according to Niyo’s pre-launch survey. The result? Travellers often end up paying steep forex rates or relying on patchy currency fixes from local agents or WhatsApp groups.
Niyo Co-founder and CEO Vinay Bagri said, “As international travel continues to rise, particularly among first-time travellers, and with the growing accessibility of visa-free destinations, impromptu travel plans have become more common than ever. Coupled with India’s thriving quick-commerce culture, it’s clear that the needs of today’s travellers are evolving rapidly. With Niyo Express, we are redefining travel banking by offering fast, seamless solutions that cater to these changing demands, ensuring our customers have access to the financial tools they need, when they need them.”
By merging fintech agility with the urgency of travel, Niyo Express is giving travellers one less thing to panic about now you can pack late and swipe early. The brand plans to expand the service beyond its current metros, meaning last-minute might just become the new first-class.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
