The Reserve Bank of India (RBI) has announced that it has constituted a committee to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the Financial Sector. An announcement on this was first made on December 6 along with the monetary policy announcement. The committee will be led by Pushpak Bhattacharyya, … Read more
“Banks’ profitability rose for the sixth consecutive year in 2023-24 and continued to rise in H1:2024-25 with the return on assets (RoA) at 1.4 per cent and return on equity (RoE) at 14.6 per cent,” said the Report on Trend and Progress of Banking in India 2023-24. File. Representational Image | Photo Credit: Reuters Profitability … Read more
The Rupee’s earlier sharpest one-day fall of 68 paise was recorded on February 2, 2023. File | Photo Credit: Reuters The Rupee fell steepest in almost two years to hit its lifetime intraday low of 85.80 before a suspected Central bank intervention helped recover some of its losses and settled 23 paise lower at a … Read more
Photo used for representation purpose only. | Photo Credit: Sushil Kumar Verma The story so far: It has been what one may call, a bittersweet year for the economy, with a sweet first half, when growth surprised everyone, including the government. And a difficult latter half by the end of which the Reserve Bank of … Read more
A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. | Photo Credit: REUTERS Benchmark indices Sensex and Nifty climbed in early trade on Friday (December 27, 2024) amid buying in bank stocks and a largely firm trend in the Asian markets. The … Read more
Mahindra Group Chairman Anand Mahindra. File | Photo Credit: ANI Mahindra & Mahindra Ltd. (M&M) on Saturday (December 28, 2024) said state tax authorities in Tamil Nadu initiated an inspection of records at one of the places of its business operations in Chennai. “Authorisation for inspection/search proceedings under CGST Act 2017 was issued by Additional … Read more
A man uses an umbrella as he walks past a Vodafone mobile phone store in Liverpool, Britain, October 8, 2024. | Photo Credit: Reuters U.K.-based Vodafone Group has cleared dues of around ₹11,650 crore or about 109 million pound that it raised against shares of Vodafone Idea, according to a regulatory filing. Vodafone Group had … Read more
Over the last few years, Greaves Cotton has successfully evolved from being a single-business, single-fuel company to a diversified, fuel-agnostic leader. Vice-Chairman Nagesh Basavanhalli shares his thoughts during an interaction withThe Hindu. Edited excerpts: Can you share insights into Greaves Cotton’s evolution The transformation of Greaves Cotton was driven by the imperative to future-proof our … Read more
Union ministers Ashwini Vaishnaw, C.R. Patil, Chirag Paswan, K. Ram Mohan Naidu and Jayant Chaudhary, alongside three chief ministers — Devendra Fadnavis, Chandrababu Naidu and Revant Reddy, will join hundreds of government and business leaders from across the globe in Swiss ski resort town Davos next month for the World Economic Forum Annual Meeting 2025. … Read more
Manmohan Singh. File | Photo Credit: PTI Leaders of the Indian industry and people from the world of business paid rich tributes to Late former Prime Minister Dr. Manmohan Singh and the architect of modern India, who passed away on Thursday (December 26, 2024) at the age of 92 following age-related ailment. “We mourn the … Read more