Mumbai: RBI has come out with final co-lending rules for banks and non-banks which allow dual lending with a single KYC. The final norms mandate blended lending rates, irrevocable funding commitments, and escrow-based cashflow distribution, while keeping first loss default guarantee. These, along with capital impacts and lower returns, could make co-lending less attractive for…
TCS surprised its staff by announcing salary hikes for eligible associates up to grade C3A and equivalent (freshers to mid-level), covering nearly 80% of its workforce. The salary hike will be effective from Sept 1, according to an internal communication sent out by CHRO Milind Lakkad and CHRO-designate K Sudeep on Wednesday. Source link
MUMBAI: Industrialist Anand Mahindra has said that US tariffs will have the unintended consequences of creating new growth drivers, and India should use the opportunity to unleash reforms like in 1991 and promote tourism as a forex engine. In an elaborate post on X following the tariff announcements, the Mahindra & Mahindra chairman outlined his…
MUMBAI: The six-member Monetary Policy Committee (MPC) at its 56th meeting voted unanimously to keep the policy repo rate unchanged at 5.5% and retained its neutral stance even as it maintained growth forecast for FY26 at 6.5% and lowered inflation projection to 3.1% from its earlier estimate of 3.7%. RBI governor Sanjay Malhotra said the…
As India braces for a fresh round of tariffs imposed by the United States, Mahindra Group chairman Anand Mahindra urged the country to turn the crisis into a powerful opportunity by implementing bold economic reforms.On Wednesday, US President Donald Trump signed an executive order to impose an additional 25% tariff on Indian imports, citing India’s…
India’s growth story may be headed for a rough patch after US President Donald Trump imposed a steep 25% “reciprocal” tariff on Indian goods, a recent report by Goldman Sachs showed.In a newly revised outlook, the brokerage trimmed its forecast for India’s real GDP growth by 0.1 percentage point. It now expects the economy to…
Wall Street saw modest gains on Wednesday as investors sifted through a wave of corporate earnings to gauge how businesses are coping with President Donald Trump’s tariffs.Nasdaq climbed 60 points or 0.29%, reaching 20,977. S&P 500 followed the trajectory, with a modest rise of 11 points, rising 0.18% to 6310.DJIA, on the contrary, dipped 12…
Japan is set to begin importing Ford’s hefty F-150 pickup trucks, US President Donald Trump said on Tuesday, even as questions linger over the full scope of the countries’ trade agreement.The move comes as part of a deal announced in July, under which Japanese imports will be hit with a 15% “reciprocal” tariff, lower than…
A 20-year-old man from Dankaur near Noida was stunned after receiving a bank message showing an unimaginable sum of money, Rs 10,01,35,60,00,00,00,00,00,01,00,23,56,00,00,00,00,299, credited to his account on August 1.The man, Deepak, said the amount was deposited in his late mother’s account, which he had opened just two months ago. I got a message that Rs…
Reserve Bank of India governor Sanjay Malhotra on Wednesday gave a firm reply to Donald Trump’s ‘dead economy’ remark, assuring that India’s economy is “doing very well” and contributing more to global growth than the United States.Speaking to reporters at the RBI headquarters, Malhotra highlighted India’s resilience and strong performance even as Trump’s controversial remark…
