NEW DELHI: The Centre has asked Elon Musk’s satellite venture Starlink to set up a control centre in India to enable suspension or shutdown of communications services in sensitive and troubled areas, whenever required, to maintain law and order.Also, the security establishment has specified mandates to allow call interceptions by law-enforcement agencies through official channels…
MUMBAI: India’s financial sector is embracing generative AI at pace, with banks, insurers, and non-bank lenders deploying it to cut costs and improve efficiency. An EY report suggests productivity gains in banking operations could reach 46% by 2030. The report found that 74% of financial firms have initiated proof-of-concept trials, 42% have allocated budgets, and…
NEW DELHI: India will be the world’s third largest economy by 2028 as it becomes the world’s most sought-after consumer market and gains share in global output, a Morgan Stanley report said. The Indian economy is projected to expand to $4.7 trillion in 2026, behind the US, China and Germany.In 2028, India will overtake Germany…
NEW DELHI: Sebi has widened the ambit of the scope of Unpublished Price Sensitive Information (UPSI) by including any proposed fundraising activities agreements which can impact the management or control of the company, restructuring plans, and one-time bank settlements. The new rules would come into force from June 10. Source link
India’s dollar stockpile had its biggest weekly gain in over three years, bolstered by RBI’s currency swap operations last month. Foreign exchange reserves grew by $15.3 billion to nearly $654 billion in the week to March 7, data released on Thursday showed. That is the highest weekly gain since Aug 27, 2021, according to Bloomberg…
Yog guru Baba Ramdev and Patanjali Ayurved’s Managing Director Acharya Balkrishna (ANI Photo) MUMBAI: The board of Magma General Insurance has approved a share purchase agreement under which Patanjali Ayurved and several foundations will acquire a controlling stake in the company. The agreement, finalised on March 12, involves the transfer of equity shares from existing…
NEW DELHI: LG Electronics India, a subsidiary of the South Korean chaebol LG, has received markets regulator Sebi’s approval for its Rs 15,000 crore initial public offering (IPO), people familiar with the matter said on Thursday.This will be the second South Korean company to tap the Indian stock market following the listing of Hyundai Motors…
NEW DELHI: Kerala had the highest inflation rate among states, while Telangana had the lowest rate in Feb, latest data showed, highlighting that price pressures continue to persist in some of the larger states.Kerala recorded an inflation rate of 7.3% in Feb, followed by Chhattisgarh at 4.9%, Karnataka at 4.5%, Bihar at 4.5% and Jammu…
MUMBAI: Value Attics Reinsurance has received a reinsurance licence from insurance regulator Irdai, making it the first private-sector reinsurer. This ends the five-decade monopoly of the public-sector reinsurer GIC Re. The approval was granted at Irdai’s board meeting, the last meet under chairman Debasish Panda, whose term ends this week. Govt has invited applications for…
BENGALURU: Indian IT firms generated around $20 billion in free cash flows last year, and more than 75% was returned to shareholders. Industry experts believe Indian IT firms are in for a big reset, especially with AI disrupting the linear relationship between revenue and employment.The Indian IT sector is reeling under a single-digit growth cycle….
