Public sector banks (PSBs) have registered their strongest advance growth since 2010, surpassing private lenders for the first time in over a decade. According to a Systematix Group report cited by news agency ANI, PSBs reported 12.2% year-on-year growth in advances in FY25, compared to 9.5% by private sector banks (PVBs).The report noted that PSBs…
BENGALURU: BharatGen, India’s first government-backed multimodal sovereign AI initiative, was awarded Rs 988.6 crore in funding by the ministry of electronics and information technology (MeitY). The announcement was made by Union IT minister Ashwini Vaishnaw in New Delhi on Friday. The allocation makes BharatGen the largest beneficiary of the Rs 1,500 crore IndiaAI Mission 2025,…
RBI governor Sanjay Malhotra (File photo) MUMBAI: RBI governor Sanjay Malhotra on Thursday urged the Clearing Corporation of India (CCIL) to expand beyond dollar-rupee trades by creating settlement infrastructure for other currency pairs, as part of efforts to deepen markets and internationalise the rupee.“Given the broader objective of internationalisation of INR, CCIL could explore the…
Piyush Goyal (File photo) DUBAI: After the UAE, government is looking at trade pacts with individual countries in West Asia, instead of the earlier plan for an agreement with the Gulf Cooperation Council, commerce & industry minister Piyush Goyal said Friday.“The agreement with the UAE has been the most successful trade agreement so far. The…
Adani Group companies gained over Rs 66,000 crore in market cap in a single session on Friday, fuelled by a buying frenzy following Sebi’s clean chit in the Hindenburg case. The gain marked the best day for the Gautam Adani-led group’s stocks since May, Bloomberg reported.The regulator’s order, which dismissed allegations of stock manipulation and…
NEW DELHI: Japanese credit rating agency Rating and Investment Information (R&I) on Friday upgraded India’s long-term sovereign credit rating to ‘BBB+’ from ‘BBB’ and retained the “stable” outlook, citing growth prospects, progress on fiscal consolidation, and reforms undertaken by govt. This is the third upgrade by a sovereign credit rating agency this year, following S&P’s…
Trump sings order to increase H1-B visa application fees US President Donald Trump has signed a new proclamation on Friday (US time) introducing a $100,000 annual fee for H-1B visa applications, along with other changes to the skilled foreign worker programme, which has been under scrutiny for years.Originally designed to attract exceptional foreign talent for…
Adani Group firms saw their combined market value surge by more than Rs 69,000 crore during Friday’s trading session. Gautam Adani-led Adani Group stocks rallied strongly in trade on Friday after SEBI cleared the companies of Hindenburg-related allegations. The regulatory body’s ruling, which rejected claims of share price manipulation and improper related-party dealings, boosted investor…
Arunachal Pradesh has witnessed a dramatic rise in Goods and Services Tax (GST) collections, with revenue climbing over 700 per cent in six years to nearly Rs 1,900 crore in 2023-24 from just Rs 227 crore in 2017-18, Deputy Chief Minister Chowna Mein said on Friday.Speaking at a BJP programme on GST reforms in Namsai…
Donald Trump (File photo) The US administration plans a major change to the H-1B visa programme, with President Donald Trump expected to sign a proclamation Friday imposing a $100,000 application fee, according to a White House official, quoted in a Bloomberg report.The order is intended to curb misuse of the visa category and its perceived…
