MUMBAI: ICICI Bank has rolled back its rule requiring new savings accounts opened after Aug 1 to maintain a monthly average balance (MAB) of Rs 50,000 and has revised the threshold to Rs 15,000. The move follows a social media backlash against the higher balance requirement, which was criticised for making banking exclusive.The bank said…
Representative image (Picture credit: AP) Asian shares moved in a tight range on Thursday, pausing after three days of gains fuelled by growing expectations that the US Federal Reserve will cut interest rates next month. Japanese stocks pulled back from record levels, while South Korea and Australia advanced.Japan’s Nikkei 225 fell 0.31% and the broader…
US tariffs not to hit India’s growth: S&P NEW DELHI: Trump tariffs will not have any impact on India’s growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive, S&P Global Ratings director YeeFarn Phua said.In May last year, S&P had upgraded the outlook on India’s sovereign…
Motilal Oswal Financial Services has upgraded Bharat Dynamics to buy from neutral with an unchanged target price of Rs 1,900. Analysts said the stock’s valuation is turning reasonable. During the April-June quarter (Q1), Bharat Dynamics delivered strong 30% annual growth in execution on the back of a strong order book and the easing of supply…
NEW DELHI: Top American specialty glass and technology company Corning is expanding its business in India as it ties up with local contract manufacturer Optiemus through a trademark and licensing agreement for screen protectors.The company is also close to starting production of finished cover glass for smartphones in India in a Rs 1,000-crore JV also…
IKEA has opened its first store in West Delhi at Pacific Mall (File photo) MUMBAI: Global trade wars have pushed companies to speed up the diversification of their supply chains and India will be key to Ikea’s sourcing strategy where it is expanding beyond textiles to build supply capabilities in plastic, metals, and furniture, said…
BENGALURU: Enterprise AI solutions company Fractal Analytics has filed draft papers with Sebi for an IPO of up to Rs 4,900 crore. The offer comprises a fresh issue of shares worth Rs 1,279 crore and an offer-for-sale of Rs 3,621 crore. Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal provides AI-driven decision-making support…
Federal Reserve Chairman Jerome Powell (AP photo) US treasury secretary Scott Bessent made his most explicit call yet for the Federal Reserve to execute a cycle of interest-rate cuts, suggesting the central bank’s benchmark ought to be at least 1.5 percentage points lower than it is now.“I think we could go into a series of…
NEW DELHI: While estimating that nearly 70% of India’s exports are exposed to Trump’s 50% tariffs, think tank Icrier has suggested govt support for hard-hit sectors, such as textiles and gems and jewellery, along with sharp duty cuts in non-sensitive farm goods and addressing US demands on genetically modified products.The recommendations on farm goods fly…
The State Bank of India (SBI) will introduce nominal charges on Immediate Payment Service (IMPS) fund transfers above Rs 25,000 made through online channels starting August 15, according to details posted on its website.The country’s largest lender clarified there will be no change in charges for IMPS transfers conducted at branches, PTI reported. For online…
