BUSINESS
CEO of Kotak Mahindra Bank Proactively Resolving RBI's Concerns
Vaswani's statement shared on Kotak Mahindra Bank's official social media sites declared that the bank is in constant discussion with the RBI to address any concerns that come up.
India remains 'one of the most challenging' major economies in Intellectual Property protection and enforcement: US
Moreover, as happens in other countries, such as Argentina, Chile, China, Indonesia, Russia, and Venezuela, India too has found itself included in the 2024 Special 301 Report concerning the adequacy and effectiveness of US trading partners' protection and enforcement of IP rights published by the US Trade Representative.
ACC Limited, Part of Adani Group, Achieves Record Annual Profit of Rs 2,337 Crore in FY24
The operating EBITDA of ACC during Q4 grew massively by a whopping 79 percent and stood at Rs 837 crore as per the release. The key parameters driving this commendable performance, as informed by ACC Limited, include improved turnaround in volume, cost efficiencies, and improved operational parameters across the board.
Indian Rupee Set to Strengthen to Rs 82–82.50 in FY25, CARE Ratings
Despite a slight easing of concern over Iran–Israel tension, emerging market currencies, including the Indian rupee, continued to face the impact of the strength of the US dollar. The chief economist said that the rupee stayed relatively strong compared to some emerging markets and Asian peers this year. However, it could be due to interventions by the Reserve Bank of India.
RBI Warns Public About Unauthorized Prepaid Payment Instruments
The RBI warns, while being categorical, that it be cautioned to act carefully while interacting with websites or apps and not make commitments of funds with unauthorized entities. It is important for consumers to confirm that any platforms or companies they interact with are officially sanctioned to perform the services they offer.
RBI Restricts Kotak Mahindra Bank from Online Customer Onboarding, New Credit Card Issuance
The RBI said are warranted on the basis of grave concerns emerging from the Reserve Bank's IT examination of the bank for the years 2022 and 2023 and the continued failure on the part of the bank in taking adequate action to address these concerns in a comprehensive and timely manner.
Axis Bank Records Net Profit of Rs 7,130 Crore in January-March Quarter
Some of the major highlights of the quarter include the bank's net interest income. It did witness a healthy growth of 11.47 percent, amounting to Rs 13,089 crore, in comparison to Rs 11,742 crore of the corresponding period of the previous year. This shows the bank has effectively managed its lending activities and deposit interest payments.
India Records 455 Deals Valued at $25.6 Billion in First Quarter of the Year: Report
The media and entertainment vertical emerged as the leader of deal value. However, the retail and consumer vertical remained the leader in terms of deal number.
PM Modi lifted 400 million Indians out of poverty, says JP Morgan CEO Jamie Dimon
Dimon said that Modi is a tough administrator, breaking down antiquated bureaucratic systems. He lauded the Prime Minister's role in breaking down the antiquated bureaucratic structures; something he feels lacks in some parts of the US.
RBI Identifies 6 Key Drivers Fueling India's Rise to Third Largest Economy
In terms of purchasing power parity (PPP), India already holds the third position globally. However, according to the OECD, by 2045, India is expected to surpass the US in PPP terms, becoming the second-largest economy worldwide.
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