India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
RBI Deputy Governor Swaminathan J emphasized the need for enhanced governance, risk management, and technology adoption among Urban Cooperative Banks (UCBs). Speaking at a seminar, he highlighted the banks' community-centric model and the importance of maintaining depositor trust. The creation of a National Umbrella Organisation aims to support UCBs in meeting modern challenges. The Deputy Governor of the Reserve Bank of India, Swaminathan J, has highlighted the importance of governance, risk ma
Hyderabad: Principal Secretary to Government, Municipal Administration and Urban Development (MA&UD) department M Dana Kishore has been given full additional charge (FAC) for the post of principal secretary to the Governor. With Kishore taking charge, B Venkatesham, who was serving the post earlier, has been relieved, said a statement from chief secretary A Santhi Kumari. On December 2, Dana Kishore, an Indian Administrative Service (IAS) officer from the 1996 batch, was appointed as the nodal officer tasked with coordinating efforts across various departments for projects related to the Osm ...Read More >
New Delhi [India], June 6 (ANI): Economists across the board have welcomed the Reserve Bank of India's (RBI) latest policy decision, terming the 50 basis points (bps) repo rate cut as a pro-growth move that is expected to significantly boost liquidity and economic activity in the country. On Friday, RBI Governor Sanjay Malhotra announced the decision of the Monetary Policy Committee (MPC), stating that the policy repo rate has been reduced from 6 per cent to 5.5 per cent. Also Read | Citigroup Layoffs: Banking Giant To Cut 3,500 Tech Roles From China Citi Solution Centres in Shanghai and Dal ...Read More >
NEW DELHI: Indian equities surged sharply after the Reserve Bank of India (RBI) delivered a larger-than-expected 50 basis points repo rate cut, reducing it to 5.5% in today's Monetary Policy Committee (MPC) meeting. The move, led by Governor Sanjay Malhotra, exceeded market expectations of a modest 25 basis points cut, thus fueling a broad-based rally. The BSE Sensex zoomed by about 800 points to trade above 82,200 level while the NSE Nifty surge more than 250 points to trade around 25,000 level as of 12.15 pm. Stocks in the rate-sensitive sectors like realty, banking, NFBC and auto counters ...Read More >
Berhampur (Odisha), Jun 6 (PTI) Environmental activist Medha Patkar on Saturday appealed to the people of Odisha for protection of Rushikulya river. The government planned to construct a dam in the river Pipalapnaka under Sorada block in the district. While participating in the Save Rushikulya river movement in Ganjam district, she said, "Rivers may be small or big, but they are our mother. We have to protect the rivers from attacks." She attended a meeting were organised by the Rushikulya Banchao Kriyaanusthan Committee (RBKC) and the Centre for Climate Justice, spearheading the agitation a ...Read More >
Ahmedabad, June 8 (SocialNews.XYZ) The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximate ...Read More >
Mumbai: Even as mis-selling of insurance plans by banks has drawn scrutiny, the sector regulator doesn't want to manage distribution channels and seeks to focus on customer awareness to check the malpractice. "It's not necessary that every mis-selling is mis-selling, it's also about the customers' understanding of the product," said Swaminathan S Iyer, member (life), Insurance Regulatory and Development Authority of India on the sidelines of an event on Wednesday. "Once you drive home that your understanding is different from what the product is...then I think the absolute number on mis-selli ...Read More >
Mumbai: Reserve Bank on Friday decided to cut Cash Reserve Ratio (CRR) by a huge 1 per cent, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the economy.With the reduction in four equal tranches ending November 29, 2025, the CRR would come down to 3 per cent. This means that the commercial banks would have to maintain a lower level of 3 per cent in liquid cash form with the RBI allowing them to have higher funds for lending."The Reserve Bank remains committed to provide sufficient liquidity to the banking system. To further provide dur ...Read More >
Chandigarh, Jul 4 (PTI) Haryana Governor Bandaru Dattatreya on Friday said chairpersons and representatives of urban local bodies (ULBs) across the country should adopt a "waste to wealth" approach by leveraging advanced technologies in waste management. Dattatreya was addressing the closing ceremony of the two-day national conference of Urban Local Bodies of States and Union Territories in Manesar in Gurugram district. Also Read | Bihar Assembly Elections 2025: RJD MP Manoj Jha Says AIMIM Should Stay Away From Polls in State, Extend 'In-Principle' Support to Mahagatbandhan. The governor sa ...Read More >
Ahmedabad (Gujarat) [India] July 11 (ANI): Gujarat has made significant strides in combating tuberculosis (TB), achieving a 34% decline in new cases and a 37% reduction in mortality rates compared to 2015. This remarkable progress has earned the state the top spot in the "Most Improved State" category. Gujarat Governor Acharya Devvrat, in the presence of Chief Minister Bhupendrabhai Patel on Friday, held a meeting at Raj Bhavan with senior officials of the Health and Family Welfare Department and thoroughly reviewed the efforts being made under the TB-free India campaign in Gujarat. Also Rea ...Read More >
New Delhi, Jul 15 (PTI) India's Global Capability Centres (GCCs) saw a rise in hiring volumes by 8-10 per cent in the first quarter of FY26, compared to a subdued fourth quarter of FY25, which saw a decline of 3-6 per cent, reflecting a return to strategic, skill-focused recruitment practices. The sector is deliberately moving away from volume hiring, focusing instead on securing high-value talent in AI, platform engineering, and cybersecurity, exacerbating critical skill shortages across the country, according to a report by staffing and workforce solutions provider Quess Corp. "Q1FY26 mark ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
New Delhi, Jul 15 (PTI) India's Global Capability Centres (GCCs) saw a rise in hiring volumes by 8-10 per cent in the first quarter of FY26, compared to a subdued fourth quarter of FY25, which saw a decline of 3-6 per cent, reflecting a return to strategic, skill-focused recruitment practices. The sector is deliberately moving away from volume hiring, focusing instead on securing high-value talent in AI, platform engineering, and cybersecurity, exacerbating critical skill shortages across the country, according to a report by staffing and workforce solutions provider Quess Corp. "Q1FY26 mark ...Read More >
Chennai, Jul 15 (PTI) The ManipalCigna Health Insurance Company Ltd has planned to expand its footprint in Tamil Nadu with 10 more branches and add over 10,000 advisors across South India. ManipalCigna Health Insurance Company Ltd is a joint venture between Manipal Group, an eminent player in healthcare delivery and higher education and global health services company Cigna Healthcare. Also Read | Aadhaar Free Update: Government Requests Parents to Update Children's Aadhaar Biometrics Between Age 5-7, Free of Cost. Citing a data from the General Insurance Council (GIC), ManipalCigna said it ...Read More >
Mumbai, June 6: RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the lower RBI band of 4 per cent. The RBI Governor also announced a 100 basis points CRR cut, effective in four equal tranches of 25 basis points starting from September 6, October 4, November 1 and November 29. The step is expected to inject Rs 2.5 lakh crore into the banking system, boosting liquidity and supporting credit flow. A lower policy rate leads to a decline in interest rate on b ...Read More >
NEW DELHI: Signalling the government's intent to move ahead with the impeachment motion of Allahabad High Court judge Justice Yashwant Varma, Union Minister Kiren Rijiju on Thursday said that main opposition parties have given their in-principle approval to support the motion in the upcoming monsoon session scheduled for July21-August 21. Rijiju said that the government is yet to decide whether the motion would be brought in the Lok Sabha or the Rajya Sabha. For the Lok Sabha, signatures of a minimum 100 MPs is required. The requirement is the support of at least 50 MPs in the Rajya Sabha. H ...Read More >
New Delhi: Non-banking financial companies (NBFCs) will be central to India's journey towards becoming a Viksit Bharat (developed nation) by 2047, but they must follow responsible and transparent lending practices, finance minister Nirmala Sitharaman said on Wednesday. Addressing the NBFC Symposium 2025, organized by the department of financial services (DFS) in New Delhi, Sitharaman said interest rates must remain reasonable, rate cuts must be passed on to borrowers, and all charges must be clearly disclosed, free from hidden fees or complex terms. "Lending should be based on genuine needs ...Read More >
New Delhi: The death sentence of Kerala nurse Nimisha Priya, who was sentenced to death in Yemen, has been postponed for the time being. She was to be executed by shooting today, July 16. According to media reports, activist groups and influential religious leaders intervened in the matter, after which the death sentence of Nimisha Priya was postponed. Earlier, many efforts were also made at the diplomatic level to save Nimisha from the death penalty. There is also news that the victim's family has not yet agreed to clemency or blood money. As a last-ditch effort to save her, Kanthapuram A. ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
Kargil , Jul 2: Pursuant to putting in place a comprehensive legal framework to ensure fair, inclusive, and transparent recruitment to public services, the Administration of the Union Territory of Ladakh has initiated a large-scale recruitment drive for 359 Gazetted posts through the Union Public Service Commission (UPSC). This marks the first-ever recruitment of Gazetted posts through UPSC since the formation of the Union Territory, officials said. This follows the establishment of a unique and dedicated legal framework specifically designed for Ladakh. The framework ensures maximum local re ...Read More >
New Delhi, Jul 17 (PTI) The Central Board of Secondary Education (CBSE) has asked schools to set up "oil boards" to educate students and staff about harmful effects of consuming high-fat foods and oils and to serve as daily reminders promoting healthier eating habits, according to officials. The directive comes two months after the board asked schools to set up "sugar boards" to monitor and reduce the sugar intake of children. Also Read | Chandan Mishra Murder: Pappu Yadav Meets Bihar Governor Arif Mohammad Khan, Demands President's Rule in State Citing Law and Order Collapse (Watch Video). ...Read More >
JAMMU, June 26: Two senior IAS officers of the erstwhile Jammu & Kashmir cadre, Bipul Pathak and Pandurang K Pole, have been assigned significant responsibilities in the Government of National Capital Territory of Delhi (GNCTD). Follow the Daily Excelsior channel on WhatsApp As per an order issued today by the office of the Lt Governor of Delhi, Bipul Pathak, a seasoned bureaucrat from the erstwhile J&K cadre, who is presently serving as Additional Chief Secretary (Industries) and holding additional charge of Additional Chief Secretary (Environment & Forests), has been transferred and appoin ...Read More >
Mumbai, June 29 (SocialNews.XYZ) It was a belligerent, brilliant, and breathtaking performance from the Chennai Bulls, who were crowned the first ever champions of the Rugby Premier League, here in Mumbai, at the Shahaji Raje Bhosale Sports Complex. The Chennai Bulls thrashed the Delhi Redz by a scoreline of 41-0 in the final, to clinch the title. In fact, the margin of victory is the biggest across Season 1 of the GMR RPL. Meanwhile, the Hyderabad Heroes, who had finished top of the table in the league stage, came away with a third-place finish, after they won 17-12 against the Bengaluru Bra ...Read More >
Mumbai (Maharashtra) [India], July 2 (ANI): RBI Deputy Governor M Rajeshwar Rao has called for frequent data updates by Credit Information Companies (CICs), asserting that it will improve loan underwriting precision, among others. Addressing TransUnion CIBIL's Credit Conference in Mumbai on Tuesday, the RBI deputy governor outlined two critical enablers -- data freshness and data quality-- for the betterment of India's credit ecosystem. Currently, credit data is refreshed on a fortnightly basis. 'We must aspire to more frequent updates,' M Rajeshwar Rao said, as per the excerpts of his spee ...Read More >
Hyderabad, July 6 (Maxim News): In a major boost to employment opportunities in the banking sector, public sector banks (PSBs) are set to recruit around 50,000 personnel during the current financial year (FY2025), according to data compiled from various banks. The move is aimed at supporting expanding business operations, enhancing customer services, and strengthening digital and physical infrastructure. The State Bank of India (SBI), the country's largest lender, is leading the hiring wave with plans to employ nearly 20,000 people in FY2025. This includes both probationary officers and speci ...Read More >
Mumbai: The Maharashtra assembly on Thursday passed the stringent Maharashtra Special Public Security (MSPS) Bill by a voice vote. The Bill aims "to provide for effective prevention of certain unlawful activities of left wing extremist organisations or similar organisations." reported the Indian Express. The Maharashtra State Public Security (MSPS) Bill, first introduced during last year's monsoon session by then Deputy Chief Minister and current Chief Minister Devendra Fadnavis, has been debated widely. The Opposition has raised concerns over the wording and interpretation of specific clause ...Read More >
Kolkata, Jul 15 (PTI) West Bengal Chief Minister Mamata Banerjee on Wednesday hailed the safe return of Indian astronaut Group Captain Shubhanshu Shukla from space, calling it a matter of national pride. Shukla, a 39-year-old Indian Air Force officer and test pilot, on Tuesday returned to the Earth after an 18-day stay at the International Space Station. Also Read | Will Samosa and Jalebi Display Cigarette-Style Health Warnings? PIB Fact Check Debunks Fake News, Says Health Ministry's Advisory Doesn't Mention Warning Labels on Indian Food Products. "Welcome home, Shubhanshu Shukla! We are r ...Read More >
NEW YORK, July 15 (Reuters) - Citigroup's (C.N), opens new tab profit rose in the second quarter as its traders brought in a windfall from turbulent markets. The third-largest U.S. lender's net income was $4 billion, or $1.96 per share, in the three months ended June 30, it said on Tuesday. Total net income rose 25% from a year earlier. Stocks and bonds have whipsawed since April, when U.S. President Donald Trump stunned markets by announcing sweeping tariffs against major trading partners. Vol ...Read More >
By Shankar Bhaskaran, Managing Director - India, MetricStream In recent years, operational risk management (ORM) has garnered significant attention from banking and financial services (BFS) regulators. The increasingly unpredictable operational landscape -- characterised by fluctuating business prospects, a rise in regulations and updates, escalating service costs, and internal challenges such as operational lapses, fraud, and employee disengagement -- has created a pressing need for robust operational risk management strategies in BFS organisations. Fortunately, the leaders of BFS organisat ...Read More >
Bhubaneswar: Chief minister Mohan Charan Majhi on Thursday announced an ambitious plan of planting 7.5 crore saplings across the state within a year. Speaking at the state-level celebration of World Environment Day at the OUAT Agriculture Education Hall in city, the CM emphasised the importance of public awareness and collective responsibility in protecting nature and ending plastic pollution. "A healthy environment is essential for a healthy society," he said.Addressing the rising threat of single-use plastic, the CM urged citizens to support a mass movement to eliminate plastic from daily li ...Read More >