BUSINESS
Need to create quality consciousness in country: Piyush Goyal
In his address on the occasion of World Consumer Rights Day, he said: "We should work towards creating quality consciousness in the country and win the confidence of our customers." Goyal also said that "people want high quality in services and products and that it is their right. Today is a day of celebration of this right and it is a day to commit ourself to work towards ensuring that quality and service".
Indian rupee to remain in 82-83/$ next fortnight: Bank of Baroda
According to the report, the Indian rupee appreciated by 0.2 per cent in March (up to March 14) after depreciating by 0.9 per cent in February. Compared to other currencies, the Indian rupee has remained an underperformer. In fact, when compared with a median appreciation of 1 per cent in the sample of 18 currencies, the rupee was way behind other currencies in the pack, the report said.
India's exports fell 8.8% to $33.88 bn in February, trade deficit narrows
The country's trade deficit, however, narrowed to $17.43 billion in February, according to data released by the Commerce Ministry.
This is the third consecutive month when exports have fallen. Imports also witnessed a fall by 8.21 per cent to $51.31 billion compared to $55.9 billion recorded in the corresponding month last year.
Banking fears spread across global markets
Shares of embattled Swiss lender Credit Suisse were down by more than 20 per cent after its biggest shareholder chose not to increase funding. That comes after the bank cited "material weakness" in its financial reporting Tuesday and got rid of executive bonuses, CNN reported.
Hero Electric launches 3 new 2-wheeler EVs
"Our core philosophy has been designing bikes that are safe and super-efficient. The extensive feedback from our 6 lac bikes over 15 years has helped us design our new range of power trains that converts almost every drop of battery power into useful km," Sohinder Gill, CEO, Hero Electric, said in a statement.
Slump in Credit Suisse's shares hits European bank stocks
Trading in Credit Suisse's shares was halted a number of times by the stock exchange operator on Wednesday, as volumes soared and the stock plummeted 20 per cent, The Guardian reported. Credit Suisse's shares fell below 2 Swiss francs for the first time ever on Wednesday morning, as anxiety over the banking sector drove European stock markets deeper into the red.
India at G20 showcases its strength in research, innovation
The event brought together delegates from the G20 Education Working Group to discuss the future of work and innovation, with a focus on building bridges across nations for equitable development. Rajeev Ahuja, Director, IIT Ropar, welcomed the participants and highlighted India's opportunity to establish itself as a leader in research and innovation globally.
IT ministry working with industry to implement mobile security guidelines: ICEA
The statement from ICEA, which is apex industry body for the mobile and electronics industry, came after a media report said that the government is planning security testing for smartphones and crackdown on pre-installed applications on mobile devices -- a claim vehemently denied by Union Minister of State for Electronics and IT, Rajeev Chandrasekhar.
India's electronic goods export rose 22.39% in 5 years
According to data released by the ministry of electronics and IT, the country's electronics export is expected to reach Rs 1.76 lakh crore in 2022-23. The global exports of electronic goods from major manufacturing economies (including China, Vietnam, Mexico, Taiwan, Korea, Japan, the US and Germany) is approximately $1.5 trillion out of the global exports of $2.5 trillion, which includes a lot of re-exports.
Indian startups able to withdraw up to $300mn from SVB: Report
The Financial Express reported, citing sources, that homegrown startups have processed fund transfers "worth $250-300 million in the past 24 hours". Industry players said that for funds transfer, firms need to first open new business bank accounts in the US as SVB still hasn't resumed direct foreign transfers.
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