Mumbai, July 14 (IANS) The Reserve Bank of India (RBI) on Tuesday held its half-yearly meetings with the Managing Directors and Chief Executive Officers of Public Sector Banks and select Private Sector Banks in Mumbai, with Governor Sanjay Malhotra calling on lenders to harness artificial intelligence (AI), strengthen cybersecurity and maintain a strong customer-centric approach.The meetings were chaired by the RBI Governor and attended by Deputy Governors Swaminathan J., Dr. Poonam Gupta, S. C….
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New Delhi, July 14 (IANS) The Indian Railway Catering and Tourism Corporation (IRCTC) is set to launch a revamped version of its ticket booking website on July 15, aimed at making the reservation process faster, smoother and more user-friendly.Union Railway Minister Ashwini Vaishnaw announced the rollout during an event in Rajasthan after some students highlighted the difficulties they face while booking train tickets through the existing IRCTC portal.The upgraded platform is designed to signifi…
Mumbai, Aug 16 (IANS) The latest development around easing of tensions between the US and Russia indicates that the secondary tariff of 25 per cent imposed on India is unlikely to come into effect after August 27, analysts said on Saturday, adding that this would boost FII sentiments.Another positive factor to influence foreign investors is S&P Global raising India’s credit rating from BBB- to BBB.Going forward, the FII activity will be influenced by the action on the tariff front, said Dr…
New Delhi, Aug 16 (IANS) India’s semiconductor market is expected to reach around $110 billion by 2030, as the country will become a trusted node in the $1 trillion global semiconductor market, according to a new report.Prime Minister Narendra Modi, in his 79th Independence Day address from the Red Fort, declared that Made-in-India semiconductor chips will be available in the market by the end of 2025, marking a major milestone in India’s push for technological self-reliance.The Union Cabine…
Mumbai, Aug 16 (IANS) In a bid to explore the potential of cruise tourism in India and discuss policy initiatives, best practices and strategies for growth, Mumbai Port Trust, in association with Inland Waterways Authority of India (IWAI) and the Indian Ports Association (IPA), is organising a conference titled ‘Waterways to Wonder: Unlocking Cruise Tourism’ here on Monday.The conference will feature presentations, panel discussions and addresses by dignitaries from the Ministry of Tourism, …
Mumbai, Aug 16 (IANS) The Gujarat Chamber of Commerce and Industry (GCCI) has urged the Central Board of Direct Taxes (CBDT) to extend the September 15 deadline for filing income tax returns (ITRs) and tax audit reports for Assessment Year (AY) 2025-26, citing delays in the release of ITR utilities and technical issues on the tax portal.The practical challenges faced by taxpayers, chartered accountants, and other stakeholders in meeting the current timelines were emphasised by the GCCI in its re…
Mumbai, Aug 16 (IANS) BSE mid and smallcap indices ended a three-week losing streak, even as Indian benchmark indices also broke a six-week losing pattern — gaining 1 per cent this week.The BSE midcap indices increased by 1 per cent, while the BSE small-cap index rose by 0.4 per cent for the week.Over 20 major small-cap and mid-cap stocks saw gains ranging from 9.85 per cent to 54.96 per cent, with most clustering between 10-20 per cent.The weekly gains follow positive inflation data from the U…
New Delhi, Aug 16 (IANS) Despite the RBI’s repo rate cut to 5.5 per cent, aimed at easing borrowing costs, India’s largest mortgage lender, State Bank of India (SBI), has increased home loan rates by 25 basis points for new borrowers.The bank raised the upper band of interest rates by 25 basis points. SBI’s interest rates for home loans have increased from the earlier band of 7.50 per cent-8.45 per cent to a new band of 7.50 per cent-8.70 per cent. The new rates will particularly impact custom…
New Delhi, Aug 16 (IANS) India’s logistics sector, valued at $215 billion in 2021, is well-positioned for strong growth with an expected compound annual growth rate (CAGR) of 10.7 per cent till 2026, government data showed on Saturday.The government’s decision to grant the sector infrastructure status has enabled access to cheaper, long-term funding, similar to roads and railways, further solidifying its significant role in the growth story of India.Several government initiatives like the Na…
New Delhi, Aug 16 (IANS) The Indian tourism sector is expected to generate over Rs 5,12,356 crore (over $59 billion) by 2028, with foreign tourist arrivals (FTAs) hitting 30.5 million, a report said on Saturday.Domestic tourism is on fire, expected to double to 5.2 billion visits by 2030 from 2.5 billion in 2024 (13.4 per cent CAGR), said the report by Capitalmind PMS, citing Ministry of Tourism data.According to the report, India’s travel boom is picking up fast as more money in people’s po…
Chennai, Aug 16 (IANS) The Tamil Nadu government has raised an alarm over the severe implications of the United States’ 25 per cent tariff on Indian exports, warning that the proposed escalation to 50 per cent could devastate the state’s manufacturing sector and cost millions of jobs.In a detailed letter to Prime Minister Narendra Modi, Chief Minister M.K. Stalin highlighted that Tamil Nadu’s dependence on the US market is higher as compared to other Indian states.While 20 per cent of Indi…
Gold prices witnessed a mixed trend across international and domestic markets today, with global spot…