Prime Minister Narendra Modi advocated for a global framework for artificial intelligence (AI) based on open source, emphasizing the need for trust, transparency, and the elimination of biases. Co-chairing the AI Action Summit with French President Emmanuel Macron, Modi highlighted the transformative potential of AI across various domains, including politics, economics, security, and society. He stressed the importance of democratizing technology, addressing concerns about cyber security and disinformation, and developing quality data sets free from biases. Modi also acknowledged the need for open-source AI ecosystems to foster trust and transparency, while emphasizing the importance of localized technology for effectiveness and usefulness. Recognizing the potential of AI to improve health, education, and agriculture, Modi proposed pooling resources and talent to leverage the technology for sustainable development goals. Addressing concerns about job displacement, he emphasized that while the nature of work may evolve, technology creates new opportunities. Modi highlighted India's leadership in AI adoption and data privacy solutions, emphasizing the nation's readiness to share its expertise and contribute to an AI future that benefits all.
Suresh Narayanan, chairman and managing director of Nestl India, is set to retire on July 31 next year, marking the end of an era that began 26 years ago with the Nestl group, a multinational giant in the food and beverage space. His tenure is perhaps most famously defined by his role in reviving the Maggi noodles brand. When Narayanan stepped into leadership at Nestl India in 2015, the company was facing criticism: the Food Safety and Standards Authority of India (FSSAI) had ordered a nationwide recall of the popular Maggi noodles due to high levels of lead found in the product.
A grooming branch network for servicing HNIs is a stepping stone for a full-fledged wealth management business.
Amid slowing volume sales among India's major automakers, Toyota Kirloskar Motor (TKM) has defied the trend with strong growth, driven by demand for hybrid vehicles and a reliable product line up. The company expects this momentum to continue in 2025. "The overall response to our cars has been fabulous. So, we foresee the same momentum in 2025 as well," Sabari Manohar, vice-president, sales-service-used car business, TKM, said.
This is the story of a man who fought racism and casteism throughout his life to become a professor of Bharata Natyam at the premier centre for performing arts in India, the Kerala Kalamandalam.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
'Going forward, the encouragement would be to move to the new tax regime.'
When star mutual fund managers quit their jobs to start their own ventures, they have often begun their new innings by becoming portfolio management service (PMS) providers. Over the years there has been an influx of fund managers - they could earn big if they succeeded on their own - and alongside there are wealthy clients looking for an edge beyond that offered by traditional mutual funds.
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
'Geopolitics will be the most important driver of financial markets in 2025.'
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
In a joint declaration issued after the 16th BRICS Summit in the Russian city of Kazan attended by Prime Minister Narendra Modi and Chinese President Xi Jinping, among others, the leaders reiterated unequivocal condemnation of terrorism in all its forms and manifestations while reaffirming that it should not be associated with any religion, nationality, civilisation or ethnic group.
Taxing capital less may not lead to more investments but taxing more will drive capital away, Chief Economic Advisor V Anantha Nageswaran on Friday said during a discussion on Inequality, Economic Growth and Inclusion. While it is easy to drive capital out, bringing it back is a lot harder, said Nageswaran.
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
If you're doing the work, if you're delivering results and contributing to the success of your team or organisation, you deserve to be compensated equitably, says Sonica Aron, founder of HR consultancy firm Marching Sheep.
Regulatory capacity, hyperactivity and excessive prescription are the biggest challenges the financial sector is facing, said Meleveetil Damodaran, former chairperson, Securities and Exchange Board of India (Sebi). Speaking at the Business Standard BFSI Summit on Wednesday, Damodaran highlighted the need for simpler, clear, and continuous regulations in the financial sector. He opined that the industry had felt it challenging to keep pace with the changing regulations.
The controlling shareholders of smaller and mid-sized companies are reducing their stakes at levels seldom seen since the 2008 global financial crisis. Over 20 per cent of companies listed on BSE MidCap and BSE SmallCap have seen a decline in promoter holdings for five consecutive quarters, reveals data from DSP Mutual Fund, shared with Business Standard. In the latest June quarter, the figure stood at 22.6 per cent.
'When so many young Baloch men and women are willingly volunteering as fighters and even suicide bombers.'
State-owned Oil and Natural Gas Corporation (ONGC) expects a USD 10.3 billion revenue boost from increased oil and gas production, achieved through a partnership with UK's BP in the Mumbai High field.
'Studying was never an important part of our life, surviving was.'
'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
'Binary fission will happen -- startups will lead to more startups.'
Indian students are looking at destinations that offer quality education coupled with unique cultural and career experiences, often at more affordable costs, says Gaurav Batra, CEO, Infinite Group.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
Tata Steel is in the process of filing a curative petition in the Supreme Court in connection with the apex court ruling which said that states have the power to levy cess on mining and mineral-use activities. The petition by the steel manufacturing firm is aimed at seeking remedy to the order, passed by a 9-judge Constitution Bench of the Supreme Court on July 25. However, Tata Steel's managing director and chief executive officer T V Narendran told Business Standard that there was no demand note on the firm.
President Droupadi Murmu, in her address to the nation on Republic Day, advocated for the "One Nation One Election" initiative, emphasizing its potential to enhance governance and reduce financial burdens. She highlighted the government's efforts to eliminate remnants of colonialism, citing the replacement of British-era criminal laws with modern alternatives. Murmu also lauded India's economic progress, stressing the importance of inclusive growth and social welfare. She urged citizens to remember the sacrifices of freedom fighters and reaffirmed the significance of the Constitution in guiding India's journey towards a prosperous and equitable future.
'The Budget must be pro-growth, focusing on infrastructure creation while also managing the fiscal deficit.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Bhopal-based SOM Distilleries and Breweries has entered the Karnataka market with "Woodpecker" premium beer, India's first twist cap beer. The listed alcobev company targets sales of Rs 1,600 crore by financial year 2025, it told Business Standard. SOM Distilleries launched two Woodpecker beer variants in the state: Woodpecker Glide, a premium mild beer, and Woodpecker Crest, a strong, bold brew.
'There are very few chances that I can give good mileage.' 'A smaller, lighter car will give more mileage and this was a big reason to be nervous.'
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
'Its nature changes, new types of jobs are created.' 'We need to invest in skilling and re-skilling our people for an AI-driven future,' Prime Minister Narendra Modi said in his opening speech at the AI Action Summit in Paris, co-hosted by India.
In a long battle, this is Rana's last legal chance not to be extradited to India.
Cardiac care plans are ideal for individuals with pre-existing heart conditions or a family history of heart issues. Those who can't get coverage under a comprehensive plan should opt for these plans.
Mutual funds (MFs) reinforced their record monthly inflows in October with an investment of Rs 87,000 crore (up to October 29), softening the downside pressure on domestic markets. Their prior record for monthly inflows was Rs 48,139 crore in May. This unprecedented monthly buying partially countered record monthly sales by foreign portfolio investors (FPIs) of Rs 1.1 trillion last month.
'We have opened 100 branches in the last one and a half years. Our manpower is also in place.'
The Reserve Bank of India (RBI) has sought granular data from select non-banking financial companies (NBFCs) on their loan book growth. The details sought are on the outstanding product-wise portfolio and the annualised interest charged on them. The annualised interest slabs mentioned are as follows: less than 10 per cent, 10-20 per cent, 20-30 per cent, 30-40 per cent, 40-50 per cent, and above 50 per cent.
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
'By March-end, we should have closure of the PNC portfolio. After completion of PNC acquisition.'
