BUSINESS
RBI launches website to help locate unclaimed deposits across multiple banks
The launch of the web portal will aid users to identify their unclaimed deposits and accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks, a statement issued by RBI said.
Rupee at 10-month low adds to selling pressure in stock market
Domestic equities continued to witness pressure amid weak global cues. While Nifty opened lower and remained in the negative territory throughout the session to close with a loss of 100 points (-0.5 per cent) at 19,365 levels, Sensex was down 388.40 points or 0.59 per cent at 65,151.02.
Impending stake sale by Rakesh Gangwal, slowing earning trajectory likely to weigh on Indigo's stock price
This is in line with his strategy to reduce stake in the company over the coming years. Gangwal's stake post the recent sale stands at 25 per cent.
FIIs unlikely to pour more money into Indian market as they did in June, July
Rather than looking at index movements, investors may focus on performing sectors like capital goods, automobiles and construction. High quality banking stocks present opportunities for buy on dips, he said.
Indian banks may see a decline in their earnings as net interest margins stop rising
The largest private and public sector banks in India experienced higher net profits in the April-to-June quarter, benefiting from their ability to quickly pass on increased rates to customers while paying less for deposits.
Younger startups in India are now disrupting the normal: MoS IT
Addressing the G20 ‘Digital Innovation Alliance’ summit in Bengaluru, the Minister said that three trends are happening that are of interest to startups which are part of the innovation economy.
OpenAI acquires digital product company Global Illumination
Global Illumination is a New York-based company that has been leveraging artificial intelligence (AI) to build creative tools, infrastructure and digital experiences.
Texas to impose fee on electric vehicles
If they want to buy another EV, that will cost $400 upfront, according to a new state law imposing the new fee on EVs to replace gas taxes lost to electrification. The fee will not apply to hybrid vehicles, Xinhua news agency reported.
Sitharaman meets JBIC governor, seeks greater investments for India
"FM Nirmala Sitharaman met Hayashi Nobumitsu, Governor, Japan Bank for International Cooperation (JBIC), in New Delhi, today, to exchange views on JBIC's recent activities in India contributing towards Japan’s investment target of five trillion yen over next five years," the Finance Ministry said in a series of tweets on X (formerly Twitter).
Vishwakarma scheme will augment efforts of small artisans: PM Modi
Earlier in the day, Union cabinet had cleared the Rs 13,000 crore for PM Vishwakarma Yojana, under which artisans engaged in 18 traditional trades like blacksmiths, cobblers, ironsmiths and fishermen among others, will be provided recognition through PM Vishwakarma certificate and ID cards.
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