For nearly 10 years, banks, payment companies, fintechs, NPCI and RBI have collectively invested in technology, cybersecurity, fraud prevention, innovation and customer support The government’s move to lift the legal restriction on banks and platforms from imposing a charge or merchant discount rate (MDR) on UPI transactions, hitherto free, has generated a lot of debate…
India recorded 83,100 AI-related hires during the period, compared with 31,921 layoffs and attrition, according to the report released Friday. India, the world’s back office for many global companies, is emerging as a key test case for artificial intelligence’s impact on employment, with AI-related hiring outpacing job losses so far, according to Nomura Holdings Inc.The…
NEW DELHI: In a fresh crackdown on food safety violations, the Food Safety and Standards Authority of India (FSSAI) has acted against two food products, penalising the manufacturer of a fortified sunflower oil after it was found to be substandard and stopping the sale of a Monk Fruit Sweetener over alleged licensing and labelling violations.The…
The move will enable banks to earn a decent spread by deploying funds raised from FCNR(B) deposits where the yields are around 7%. MUMBAI: RBI has exempted advances against fresh FCNR(B) and NRE term deposits from priority sector lending calculations, completing a three-part policy push to boost foreign currency inflows and ease compliance burdens for…
In a filing dated Aug 7, Religare said RBI, in a communication dated Aug 6, informed the company that its application seeking no-objection or prior approval for the scheme “has been examined and that the request has not been acceded to” MUMBAI: Religare Enterprises’ proposed demerger of its financial services business into Religare Finvest has…
Leonardo da Vinci was an Italian painter, sculptor, and architect, often called the archetype of the “Renaissance man.” He is renowned for creating masterpieces like The Last Supper, the Mona Lisa, and The Virgin of the Rocks, but his notebooks show that he was equally fascinated by anatomy, optics, hydraulics, flight, and the mechanics of…
The company had reported a net profit of Rs 4,004 crore in the first quarter of the preceding 2025-26 fiscal, the Aditya Birla Group entity said. NEW DELHI: Hindalco Industries on Friday said its net profit rose over 75% year-on-year to Rs 7,013 crore in Q1FY27, backed by strong performance across all business segments. The…
Former Air Force secretary Frank Kendall has been stripped of his security clearance and barred from from holding “any sensitive position,” after the Pentagon accused him of sharing classified details about Air Force One’s capabilities with the media.Chief Pentagon spokesman Sean Parnell announced the action on Friday, saying it was effective immediately. “Effective immediately, the…
Bajaj Finance was down 5.9% and Bajaj Finserv was down 4.2%. MUMBAI: Reserve Bank of India’s proposal to bar finance companies from offering revolving credit facilities took a toll on shares of non-banking finance companies with Bajaj Finance and Bajaj Finserv together losing nearly Rs 55,000 crore in market cap. Bajaj Finance was down 5.9%…
The company had posted a consolidated net profit of Rs 1,706 crore in the corresponding period of previous fiscal. NEW DELHI: Leading two-wheeler maker Hero MotoCorp has reported a 17% decline in consolidated profit after tax to Rs 1,418 crore in the first quarter ended June 30 due to high base effect. The company had…