RBI Deputy Governor Rohit Jain discussed the future of India's foreign exchange markets, highlighting the increasing role of local currencies in cross-border trade, the impact of technology, and existing challenges. He emphasised the need for market evolution to facilitate India's global engagement, absorb shocks, and serve all users efficiently. Jain also addressed concerns about unauthorised forex trading platforms and the importance of customer awareness.
A new report by ADP reveals that one in two Indian companies plan to adopt AI-powered payroll systems within the next 12 months, driven by the need for automation in workforce management, compliance, and compensation decisions. However, firms are increasingly cautious about data protection risks, especially with the implementation of the Digital Personal Data Protection (DPDP) Act, 2023.
Infosys co-founder Nandan Nilekani predicts that large corporations in India will lose jobs due to automation and AI, while millions of small businesses will drive future employment growth. He advocates for deregulation, simplified business interfaces, and digital platforms to support small entrepreneurs and a gig economy workforce.
'Applying AI to change the lives of Indians and at population scale -- just like we did with DPI [digital public infrastructure] -- is really where it's going to go.'
Despite current headwinds, India remains the world's fastest-growing major economy and should not allow near-term challenges to obscure its long-term growth potential, said Jane Fraser, Citi Chair and Chief Executive Officer.
Supreme Court judge Justice B V Nagarathna has cautioned against the over-reliance on Artificial Intelligence (AI) in the judiciary, emphasising the need for judicial independence from algorithmic influence. She stressed that AI should only serve as a tool and not replace human judgement, which is guided by legal reasoning, constitutional values, and a deep sense of justice.
Karnataka Chief Minister Siddaramaiah has called for the establishment of a Supreme Court bench in South India to improve accessibility to justice. Speaking at a conference on Artificial Intelligence in the judiciary, he also highlighted the need to address algorithmic bias and ensure judicial independence in the age of AI.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model threatening data security of financial systems.
Rockwell Automation's CEO Blake Moret highlights India as the centrepiece of the company's Asian growth strategy, detailing its four-decade presence, significant employee base, and support for the 'Make in India' initiative. The company sees major opportunities in pharmaceuticals, automotive, food and beverage, and consumer products, with AI playing a crucial role in simplifying industrial automation and boosting productivity for Indian manufacturers, including MSMEs.
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
Notwithstanding the economic complementarities and the host of agreements for deepening economic relation on a host of areas, both sides share common viewpoints on the foreign policy domain and seek common grounds to serve as a counterweight to China, notes Dr Rajaram Panda.
A new book by cybersecurity expert Durga Prasad Dube explores how artificial intelligence is reshaping the global digital landscape and creating new cyber risks.
Prime Minister Narendra Modi, addressing the SCO summit in Bishkek, called for a united front against terrorism and its financing, rejecting double standards. He emphasised resolving conflicts through dialogue and diplomacy, not battlefields. Modi also highlighted that connectivity projects must respect national sovereignty and territorial integrity, a veiled reference to China's Belt and Road Initiative. India's vision for SCO rests on security, connectivity, and opportunity.
Shares of Reliance Industries climbed nearly 3 per cent after its digital unit, Jio Platforms, filed draft papers for what could become India's largest-ever initial public offering, with the offering potentially raising around Rs 37,700 crore (USD 4 billion).
Telangana is experiencing rapid urbanisation, projected to exceed the national average by 2026. The state government's Socio Economic Outlook highlights the role of cities as economic engines and the use of AI and other technologies to modernise urban administration.
Recognising the growing use of AI/ML models by regulated entities across business and decision-making processes, the RBI said weaknesses in governance, oversight, risk management, and controls could expose institutions to financial, operational, compliance, and reputational risks.
India's newly formed Artificial Intelligence Governance and Economic Group (AIGEG) is set to advocate for a unified legal framework for AI companies, including developers of large language models and chatbot systems, alongside broader operational rules.
Finance Minister Nirmala Sitharaman convened a high-level meeting with bank heads to assess cybersecurity risks linked to advanced AI models, following concerns over Anthropic's Claude Mythos system and its potential impact on financial data security.
The Bureau of Indian Standards (BIS) is preparing to significantly increase its silver jewellery testing capabilities and expand its national laboratory network, driven by a shift in consumer demand from gold to silver and a broader push for enhanced product certification and surveillance.
Jio Platforms Ltd, the digital and telecommunications arm of Reliance Industries, has approved filing draft papers for an initial public offering (IPO) involving a fresh issue of up to 27 crore equity shares, aiming to unlock value for shareholders and fuel its ambitious expansion into 5G, AI, and global markets.
Queen Maxima of the Netherlands, the UN Secretary-General's Special Advocate for Financial Health, visited Mumbai to understand India's digital public infrastructure, including UPI and AI, in improving financial health for salaried individuals. She interacted with healthcare professionals and SalarySe leaders, praising India's advancements in financial inclusion and technology's role in empowering individuals.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model and its potential threat to financial systems' data security.
The Consumer Affairs Ministry is developing machine-readable SMART standards using AI to reduce industry compliance burden. This initiative aims to modernise India's standards ecosystem, with the Bureau of Indian Standards transitioning from a regulator to a facilitator, promoting private sector testing and faster processes.
Artificial Intelligence is rapidly transforming Formula One, with teams like Williams and Red Bull using AI for race strategy, data analysis and operations as tech partnerships and sponsorship revenues surge.
The shift towards power-hitting in cricket has led to a revolution in bat manufacturing, with makers using scientific precision and customisation to meet the demands of modern batters.
Google CEO Sundar Pichai highlighted the transformative potential of AI at the India AI Impact Summit, emphasizing its role in scientific discovery, economic development, and workforce evolution.
Finance Minister Nirmala Sitharaman met with bank heads to discuss the risks associated with Artificial Intelligence (AI) following global concerns about Anthropic's Mythos model and its potential threat to financial systems' data security.
Dr Lovi Raj Gupta, pro vice-chancellor, Lovely Professional University, explains how aspiring professionals can equip themselves for a competitive AI-driven job market.
Nissan Motor India aims to achieve a fourfold increase in domestic sales, targeting 100,000 units annually, and export another 100,000 vehicles from its Chennai plant by financial year 2027-28 (FY28), marking a significant revival of its presence in the Indian passenger vehicle market.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
Karnataka Chief Minister DK Shivakumar on Sunday asserted that his government was committed to protecting the interests of the state's farmers and people on the Cauvery issue, while appealing to organisations to withdraw the proposed state-wide bandh.
Semiconductor startup C2i Semiconductors announced it has taped out a smart power stage chip designed for artificial intelligence infrastructure, marking a significant milestone for India's ambitions in domestic semiconductor production.
The aim is to win over the country's enterprises, developers and startups as AI systems shift from answering questions to autonomously executing tasks.
Infosys and Intel have announced an expanded strategic collaboration to help global enterprises transition from AI pilots to full-scale production, integrating Infosys Topaz Fabric with Intel's high-performance compute platforms.
The Kerala high court has set aside the Centre's decision not to renew the FCRA certificate of two NGOs, accused by central agencies of funding agitations against the Vizhinjam sea port, saying that financial support to a protest cannot be seen as diversion of foreign funds.
Jio Platforms Ltd, the digital and telecommunications arm of Reliance Industries, has received board approval to file draft papers for an initial public offering (IPO) involving a fresh issue of up to 27 crore equity shares. The draft red herring prospectus (DRHP) is expected to be filed with SEBI today, marking a significant value-creation event for Reliance shareholders.
US-Indian space company Pixxel has partnered with Bengaluru-based artificial intelligence firm Sarvam to build an orbital data centre satellite.
Investors should do thorough due diligence when selecting a platform.
The Department of Telecommunications (DoT) has introduced a new authorisation regime, replacing multiple licences with a single permission for principal telecom services, aiming to simplify compliance and accommodate evolving technologies. This move is expected to ease business operations, enhance fraud prevention with AI, and expand connectivity, especially through satellite networks.
Intellius Recode Ltd has filed preliminary papers with SEBI for an IPO comprising a fresh issue of equity shares and an offer for sale by existing shareholders. The funds will be used to develop digital workers and for general corporate purposes.
