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NEW DELHI: India’s economic outlook for FY25 remains “bright”, the finance ministry said on Friday, noting that the economy will close the current fiscal with strong growth accompanied by stable inflation, robust external account and progressive employment scenario. “On the whole, India looks positively towards the dawn of FY25,”...
MUMBAI: The insurance regulatory has announced the creation of an ONDC-like electronic marketplace – Bima Sugam – which will serve as a digital public infrastructure. The marketplace is expected to be owned by insurance companies. Besides providing a platform for products, companies and distributors, Bima Sugam will allot insurance...
NEW DELHI: The international trade is expected to rebound in 2024, reversing the last year’s downturn, amid lingering geopolitical uncertainties, the United Nations Conference on Trade and Development (UNCTAD) said. In its Global Trade Update report, the UN’s trade and development body warned that the logistical challenges such as...
MUMBAI: The rupee on Friday hit a fresh closing low after depreciating 0.3 per cent against the dollar due to importers’ demand for the greenback and tracking Asian peers even if the country’s foreign exchange reserves hit an all-time high. The Indian currency settled at Rs 83.43 as compared...
SEATTLE/WASHINGTON: Earlier this week, Microsoft Corp. named artificial intelligence pioneer Mustafa Suleyman chief of its consumer AI business and hired most of the staff from his Inflection AI startup. A day before, Bloomberg reported that Alphabet Inc.’s Google was in talks to license its Gemini AI engine to Apple...
NEW DELHI: India is looking at Africa for minerals, including cobalt, and other critical minerals, Mines Secretary V L Kantha Rao said on Friday. The country is still engaging with Australia for lithium blocks, he said. Talking to reporters on the sidelines of a function here, the secretary said,...
NEW DELHI: Generative Artificial Intelligence (GenAI) has the potential to completely transform India’s healthcare system by improving the efficiency with which doctors treat patients, said a report. PwC India’s report — Understanding the impact of GenAI on the Indian healthcare ecosystem — notes that one of the forerunners in...
MUMBAI: The Reserve Bank of India’s (RBI) central board on Friday reviewed the domestic economic situation and outlook, including the challenges posed by the global financial market volatility. The board also approved the bank’s budget for the accounting year 2024-25, the central bank said in a statement. The 607th...
NEW DELHI: Edible oil industry body SEA on Friday expressed concern over wholesale prices of mustard seeds falling below the minimum support price of Rs 5,650 per quintal and urged the government for immediate intervention. “We urge the authorities to direct (cooperative) NAFED to establish procurement centers in major...
PUNE: Bajaj Auto is developing a portfolio of clean fuel CNG motorcycles, and the first such bike will hit the market in June, Bajaj Auto Managing Director Rajiv Bajaj said here on Friday. The bike will run on CNG and would hit the roads in June, he said while...
MUMBAI: The Reserve Bank of India (RBI) has asked the self-regulatory organisations (SROs) to promote a culture of compliance among regulated entities while giving special attention to smaller entities in the sector, in the final omnibus framework for recognising such organisations for regulated entities. “Encourage a culture of research...
NEW DELHI: India’s private sector activity rose to an eight-month high in March, helped by a pick-up in growth at goods producers and buoyant demand that prompted aggregate sales rising sharply. The HSBC Flash India Composite PMI (Purchasing Managers’ Index) Output Index rose to 61.3 in March, compared with...
NEW DELHI: The government is likely to review the laptop and other digital devices import management system around September to assess electronics manufacturers’ preparedness to either set up or expand their manufacturing presence in the country, people aware of the matter told ET. During the review, the government is...
NEW DELHI: Robust regulatory frameworks are needed to protect customers from misuse and fraud resulting from rapid digitalisation in financial services and proliferation of fintech platforms, RBI deputy governor Swaminathan J said while speaking at an event in Paris. Addressing the Global Money Week 2024 earlier this week, the...
NEW DELHI: All public sector banks in India showed a reduction in non-performing asset levels over the last six months while only 67 per cent of private sector banks reported a decline during the period, said a FICCI-IBA Bankers’ survey released on Thursday. The survey revealed that 77 per...
NEW DELHI: Google-owned online video platform YouTube has asked its creators to label synthetic and AI-generated content, in an effort towards supporting responsible AI innovation. Viewers increasingly want more transparency about whether the content they’re seeing is altered or synthetic, YouTube said in a blog post. “We’re introducing a...
NEW DELHI: Mahindra & Mahindra on Thursday said it has tied up with a unit of Adani Total Gas to establish electric vehicle charging infrastructure across the country. The auto major and Adani Total Energies E-Mobility Ltd (ATEL) have inked a memorandum of understanding (MoU) in this regard. The...
NEW DELHI: Kia India on Thursday said it will increase prices of its range of vehicles by up to 3 per cent from April 1, 2024. The decision is attributed to the escalation in commodity prices and supply chain-related inputs, the automaker, which sells models like Seltos, Sonet and...