MUMBAI: The $136.4 billion raised by banks from non-residents and foreign lenders, then swapped with RBI, has swelled India’s foreign-exchange reserves by a record $44.9 billion to $785.7 billion in the week ended Sept 4. The windfall gives RBI a larger war chest to defend the rupee, but creates a problem at home with too…
India’s FTA with the EU will offer European automakers concessional tariffs on passenger vehicles, with annual quotas rising to 1.6 lakh, alongside tariff concessions on wines and select agricultural products. European carmakers will get a significantly wider opening to India’s passenger vehicle market under the proposed India-EU free trade agreement, with the draft pact released…
Wall Street inches higher as oil prices ease, inflation data calms markets US stocks moved higher on Friday as a retreat in oil prices helped ease some of the pressure on markets, and fresh inflation data came broadly in line with expectations.The S&P 500 gained 1%, putting the index on course to end a four-day…
The latest reserve build-up comes after a sharp turnaround in foreign-currency inflows following the RBI’s measures announced in June. India’s foreign exchange reserves surged by a record $44.903 billion in the week ended September 4, taking the country’s forex kitty to a fresh lifetime high of $785.706 billion, according to data released by the Reserve…
UIDAI is working towards expanding Aadhaar beyond India. (Image for representative purpose only) India launched its first Aadhaar card in 2010. And sixteen years later, the Aadhaar card which has now become an integral part of important documentation work in the country is now set to go global.The Unique Identification Authority of India (UIDAI) is…
The commission held that the EPFO was required to process and settle the claim within the prescribed period. (Image for representative purpose only) Your provident fund savings are your retirement corpus. In one case of what the consumer court saw as a delay in disbursal of claim amount, retiree has been awarded a 6% interest…
Uber exits Nigeria, Uganda Uber is pulling out of Nigeria and Uganda, closing operations in two African markets where ride-hailing companies have faced a difficult combination of rising operating costs, pressure on fares and growing competition.The exits took effect on September 2, ending Uber’s 12-year run in Nigeria and roughly a decade in Uganda. The…
Finance minister Nirmala Sitharaman described artificial intelligence as “a double edged sword”, warning that while it can help detect fraud, it can also be used to perpetrate it. Speaking at the Global Fintech Fest 2026, Sitharaman also added that innovation should expand efficiency without creating new forms of systemic fragility.Cautioning about the risks linked to…
Union road transport and highways minister Nitin Gadkari addresses a session at the Global Fintech Fest 2026, in Mumbai By next year, your highway journeys could get a lot smoother, as India moves towards a barrier-free, fully digital tolling process.Expected to be rolled out by February-March 2027, the new system will allow motorists to pass…
UPI now dominates Indian merchant payments, significantly reducing card usage (AI image) Walk into almost any shop in India today, a kirana store, a pharmacy, a roadside food cart and you’ll see the same thing.A small QR code taped near the counter, and a shopkeeper who barely looks up when you scan it. Nobody asks…
