Bank holidays in India can be cause of confusion, especially when it comes to Saturday operations. According to the Reserve Bank of India (RBI) guidelines, banks operate on first, third and fifth Saturdays, while remaining closed on second and fourth Saturdays each month.Besides Saturday closures, banks observe national and regional holidays. It’s worth noting that…
Spirit Airlines to file for bankruptcy (Representative image) US Budget airline Spirit Airlines announced on Friday that has filed file for bankruptcy again within a year, but will maintain normal operations, ticket sales and flights.Following its initial bankruptcy filing in November, Spirit had completed a debt restructuring agreement with creditors in March, reducing its liabilities…
Mumbai: Remittance by Indians for studies abroad dipped to a 5-year low of $138.8 million in June 2025 as countries tightened restrictions on taking in Indian students.The remittances for study are less than half of the $314 million average during the last five years and a far cry from the $718 million in Sept 2021….
Mumbai: IndusInd Bank shareholders on Thursday voted down a proposal that would have allowed the promoters to appoint up to two directors on the lender’s board. At the AGM, 54% of those who voted opposed an amendment to the bank’s articles of association that sought to define “promoters” in line with RBI rules and insert…
India is examining the possibility of WTO consultations with the US regarding Washington’s copper import tariffs. This potential action would be India’s third instance of seeking such discussions with the US, following previous cases involving steel and aluminium, and automotive sectors under the WTO Agreement on Safeguards.Beginning August 1, the US implemented a 50% tariff…
Reliance Industries Ltd (RIL) on Friday announced a joint venture with social media major Meta, with an initial investment of about Rs 855 crore ($100 million), to build and scale artificial intelligence technology solutions for business organisations.RIL also unveiled a partnership with Google for artificial intelligence, aimed at setting up AI-ready data centres in India….
India’s GDP growth (AI image) India’s GDP grew at a robust 7.8% for the first quarter of the current financial year 2025-26, beating estimates by over a full per cent. RBI had estimated that the GDP grew at 6.5% in Q1 FY26, and most economists had projected a 6.7% number.India is the world’s fastest growing…
India’s foreign exchange reserves fell by $4.386 billion to $690.72 billion in the week ended August 22, the Reserve Bank of India (RBI) said on Friday.The overall reserves had risen $1.488 billion to $695.106 billion in the preceding reporting week, PTI reported.According to RBI data, foreign currency assets (FCA)—the biggest component of reserves—declined $3.652 billion…
The Federal Reserve’s preferred inflation gauge held steady in July even as President Donald Trump’s sweeping tariffs added pressure on the economy, but a key measure of underlying prices climbed to the highest level in five months.The Commerce Department on Friday said overall prices rose 2.6% in July from a year earlier, unchanged from June,…
Canada’s economy shrank at an annualised pace of 1.6% in the second quarter as exports took a hit from tariffs imposed by US President Donald Trump, Statistics Canada said on Friday. This marked the country’s first GDP contraction in seven quarters.The agency also revised down its first-quarter growth estimate from 2.2% to 2.0%, underscoring the…
