ICICI Bank, India’s second-largest lender, has increased the monthly minimum average balance requirement for new savings account holders, effective August 1.For accounts opened after this date, customers in metro and urban branches will need to maintain a monthly average balance of Rs 50,000, up from the earlier Rs 10,000. In semi-urban branches, the requirement has…
NEW DELHI: In a bid to manage the heavy rush during the Diwali and Chhath festival season, railways has introduced a new experimental scheme “Round Trip Package”, offering a 20% rebate on the fare of the return journey for passengers booking both onward and return tickets together. The initiative aims to spread out passenger traffic…
Elon Musk‘s Tesla is set to expand its India footprint, with its second showroom opening in Delhi on August 11, less than a month after the electric carmaker debuted in Mumbai.Announcing the move on social media platform X, Tesla posted: “Arriving in Delhi – stay tuned,” along with a sleek graphic teasing its arrival in…
The United States Commerce Department has begun issuing licenses to Nvidia to export its H20 chips to China, a US official told Reuters on Friday, marking a major breakthrough for the AI giant’s access to one of its most important markets.The move follows Washington’s decision last month to reverse an April ban on sales of…
NEW DELHI: There is a need to redefine the role of independent directors, and company boards must treat them as “stewards of accountability” and not as honorary appointees, Sebi chairman Tuhin Kanta Pandey said on Friday. He called on boards to equip themselves to meet the challenges of the future.“They must be viewed and treated…
MUMBAI: State Bank of India reported a 9.7% year-on-year rise in consolidated Q1 FY26 profit to Rs 21,201 crore, driven by robust treasury and forex income. Standalone net profit increased to Rs 19,160 crore from Rs 17,035 crore that was recorded a year earlier.Advances grew 11.6% YoY, but core net interest income slipped 0.1% to…
MUMBAI: HDFC Bank MD & CEO Sashidhar Jagdishan told shareholders at the bank’s annual general meeting that reverse mortgage loans do not work in the Indian context because of “various legal and operational issues.” He added, “I’m not aware of any bank currently offering it. One bank did in the past, but they have stopped….
NEW DELHI: Govt will introduce a fresh version of the Income Tax bill on Monday, incorporating the recommendations of the Select Committee of Parliament. The new bill was approved by the cabinet on Friday as finance minister Nirmala Sitharaman withdrew earlier version of the I-T bill 2025, which was introduced in Lok Sabha in Feb…
MUMBAI: India has emerged as the single biggest market for Malaysia Airlines Berhad and the carrier has added capacity in this market by pulling out its flights from the Asean and domestic networks. Currently operating 77 weekly flights to 10 cities in India, the airline has flown 13 lakh people in & out of the…
MUMBAI: AU Small Finance Bank’s promoters will transfer their shares to a non-operative holding company (NOHC) as part of RBI’s conditions for the lender’s transition into a full-fledged or universal bank. The lender has also decided to shift its corporate headquarters from Jaipur to Mumbai, after receiving in-principle approval from RBI for the upgrade.AU Small…
