Exporters flag concerns over revised Fema rules Exporters have flagged at least half-a-dozen concerns on the revision in Fema rules that come into effect later this year, with the Reserve Bank of India considering several of the proposals favourably, industry executives said. RBI governor Sanjay Malhotra had met industry bodies on Thursday. Federation of Indian…
OpenAI has appointed Prabhjeet Singh, Uber’s president for India and South Asia, as its managing director for India, marking one of the company’s most significant senior hires in the country as it looks to deepen its presence in one of its top priority markets. Singh will join OpenAI in Sept and report to Kiran Mani,…
Goldman Sachs and EY on Friday said that the easing of West Asia crisis and lower energy prices will be positive for the Indian economy, supporting growth, easing inflationary pressure and helping rein in fertiliser subsidy, which was seen to be double the budgeted level. “…with the recent downward revision in the oil price forecast……
BENGALURU: Corporate boardrooms are witnessing a quiet but significant shift: directors are becoming AI’s newest apprentices. The change reflects a growing recognition that AI’s impact extends far beyond technology. Directors are increasingly seeking a deeper understanding of how the technology can reshape operations, improve productivity and alter competitive positioning. In many companies, AI has become…
MUMBAI: HDFC Bank said that claims made by former chairman Atanu Chakraborty in his resignation letter, and subsequent remarks about the bank going against his ethics and values, were not substantiated by the bank’s records. “The minutes of the meetings Mr. Chakraborty attended were a product of a comprehensive drafting, review and approval process that…
The Middle East conflict had triggered concerns across global markets as tensions around the Strait of Hormuz threatened energy supplies and raised fears of slower economic growth. However, with the US and Iran reaching a ceasefire and energy markets showing signs of stabilisation, the outlook has improved.Crisil Ratings now expects the impact on corporate India’s…
Humble Re 1 retains coining glory despite rise of digital payments NEW DELHI: It will buy you a candy but not much else. The last time you probably searched for it may have been to settle a toss in a cricket match. Yet, despite a steady drop in its value, Re 1 remains the most…
A temporary US sanctions waiver has put Iranian oil back on the table, but will Indian refiners return as buyers?While Washington has given Iran a 60-day window to export crude, Indian refiners are unlikely to rush back for those barrels. Most of their oil purchases for the coming months have already been booked, with state-run…
India’s foreign exchange reserves rose by $963 million to $672.587 billion in the week ended June 19, reversing the previous week’s sharp decline, as a surge in gold reserves more than offset a fall in foreign currency assets, according to RBI data released on Friday, PTI reported.The country’s forex reserves had declined by $9.985 billion…
Piyush Goyal on Friday urged Indian and British businesses to look beyond incremental gains from the India-UK Free Trade Agreement (FTA), saying the pact should become a catalyst for “transformational growth” when it comes into force on July 15. Commerce minister Piyush Goyal on Friday urged Indian and British businesses to look beyond incremental gains…
