The move is aimed at reducing India’s reliance on imported gold and would mark the first time jewellers are being included in the scheme. (AI image) New Gold Monetisation Scheme in the works? The government is evaluating a proposal to allow jewellers to participate in a revamped Gold Monetisation Scheme (GMS) as part of efforts…
MUMBAI: Credit growth remained elevated across the banking system on a year-on-year basis for the quarter ended June 2026 with few banks reporting advances growing at double the rate of credit growth. In contrast, the wedge between credit and deposit growth widened with some banks (Bank of Baroda, IDBI and RBL) reporting a dip in…
CHENNAI: Cyberattacks on two major Indian manufacturing facilities recently have highlighted growing cyber risks facing India’s factory floors once again.Bajaj Auto and one of its subsidiaries reported a ransomware attack that affected parts of their IT systems on June 23, while Tata Electronics disclosed a cyber breach a day earlier. Both companies said they activated…
Representative image (ANI) NEW DELHI: For many Indian consumers, owning an iPhone remains a status symbol. So, it would be easy to assume that Apple dominates smartphone purchases made through easy monthly instalments. The reality, however, is quite different.Samsung is the country’s leading smartphone brand in terms of devices sold through financing, followed by Vivo…
Finance minister Nirmala Sitharaman NEW DELHI: Finance minister Nirmala Sitharaman on Friday described the middle class as the growth engine of India and said nearly 500 cities are poised to emerge as the country’s next centres of economic activity.Participating in a panel discussion on ‘How to promote the rise of a new middle class’ at…
BENGALURU: German software major SAP is tightening hiring, travel and third-party spending as it steps up investments in artificial intelligence, according to an internal email sent to employees.In the email, SAP said the rapid pace of AI adoption is driving significant investments in AI products, strategic acquisitions and the infrastructure needed to support AI workloads….
Representative image (AP) BENGALURU: HCLTech shares rose nearly 6% on the BSE on Friday after the IT firm announced a $1.1 billion mega deal with a Europe-based Fortune Global 50 enterprise, which people in the know told TOI is Mercedes-Benz. The agreement is among the largest AI-led deals announced by an Indian IT firm this…
BENGALURU: India’s AI data-centre boom is creating an unexpected winner: engineers from mechanical, electrical and industrial backgrounds. As companies race to build energy-intensive AI infrastructure, mechanical, electrical and cooling engineers-roles long overshadowed by software jobs-are back in demand, commanding hefty salaries and opening a new career path for industrial talent.Companies actively hiring span the full…
NEW DELHI: Commerce and industry minister Piyush Goyal on Friday urged states to identify products that are currently imported but can be manufactured competitively in India.He said such efforts would not only reduce import dependence and save foreign exchange but also strengthen domestic supply chains and reduce vulnerabilities arising from excessive dependence on foreign suppliers.This…
File photo: US President Donald Trump shakes hands with European Commission President Ursula von der Leyen (Picture credit: Reuters) Trade in goods between the European Union and the United States reached a record €875 billion ($1.00 trillion) last year despite tariffs, but a new study has warned that the headline figures mask significant underlying economic…
