The Reserve Bank on Thursday affirmed its commitment to continue with its supervisory measures aimed at early identification of risks and vulnerabilities. The central bank would also focus on enhancing cyber resilience and capabilities of Supervised Entities (SEs) by implementing the recommendations of the inter-regulatory Working Group, which has uniform baseline cybersecurity guidelines for financial entities, it said in its annual report.
'The Digital Rupee will be equal to the Indian rupee in value and backed by the full faith and credit of the RBI/Indian government.'
'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'
From Instagram to X, social media platforms, in the run-up to the polls have seen bitter poster wars and even bitter meme battles for political one-upmanship.
The Reserve Bank of India on Friday permitted banks to increase charges on ATM cash withdrawals beyond the mandatory free monthly usage by Rs 2 to Rs 23 per transaction from May 1.
India had registered an economic growth of 6.7 per cent in FY'09 after posting over 9 per cent growth in the three preceding year, because of the global economic crisis.
Asked whether he supports home advantage in the IPL, Ganguly gave a measured response.
After sending a strong message in response to his critics before the squad announcement for the India series, Pope assured that he knows where he stands in the "hierarchy".
India and Canada have agreed to restore High Commissioners to each other's capitals at an early date, the first in 'calibrated steps' to restore stability to the 'very important relationship', Foreign Secretary Vikram Misri said.
Traditional field sales are losing ground, with job postings declining except in Tier III and IV cities.
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. Under the G20 presidency of India, a session on 'Building resilient and inclusive economies- the Promise of Digital Public Infrastructure' was held on Wednesday in New Delhi, where the Microsoft co-founder spoke of India's digital identity Aadhaar, its payment infrastructure, and rapid strides that the country has taken in bringing more people into formal banking system. "India in particular, by laying the groundwork for digital public infrastucture starting with identity system, allows people to build on top of that.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
'Languages should be introduced when the brain is ready, not when it's most vulnerable.'
The government on Wednesday asked e-commerce platforms to conduct annual internal audits to make sure that they are not resorting to manipulative tactics to mislead consumers and prevent them from making right choices -- a technique commonly referred to as dark pattern -- and submit reports to the Department of Consumer Affairs (DoCA). It comes just a week after Uber was issued a notice by the Central Consumer Protection Authority (CCPA) over its "advance tip" feature.
A number of exhibitions at the Bharat Mandapam, the convention centre which will host key G20 summit meetings, will showcase India's technological prowess and innovation, and offer a multitude of unique experiences to the visitors.
The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases with a view to bolstering India's digital economy, making payment systems more efficient, and checking money laundering. In a concept note on Central Bank Digital Currency, the RBI said CBDC is aimed to complement, rather than replace, current forms of money and is envisaged to provide an additional payment avenue to users, not to replace the existing payment systems. "Supported by state-of-the-art payment systems of India that are affordable, accessible, convenient, efficient, safe and secure, the Digital Rupee (e?) system will further bolster India's digital economy, make the monetary and payment systems more efficient and contribute to furthering financial inclusion," the paper said.
Union sports minister Mansukh Mandaviya will chair a two-day meeting with his state-level counterparts, senior administrators, and key government officials in Hyderabad to 'exchange ideas and craft a roadmap' for India's Olympic preparations.
UPI topped Rs 24 trillion in value of transactions and 19 billion in volume for the first time after becoming operational in April 2016.
IT major Infosys on Thursday announced an extension of its digital innovation partnership with the Australian Open (AO) until the end of 2026. The extended collaboration with Tennis Australia will introduce enhanced broadcast match statistics and new initiatives to make tennis more accessible for all, while continuing to develop innovative digital stakeholder experiences, a statement said. The expanded collaboration will see Infosys and Tennis Australia continue to harness Big Data and Analytics, Artificial Intelligence, Virtual Reality and Cloud technologies to elevate the AO experience for fans, players, coaches, partners and the media, it added.
The digital transformation should not be confined to a small part of the "human race" and its greater benefits will be realised only when digital access becomes "truly inclusive", Prime Minister Narendra Modi said at the G-20 summit on Wednesday. Modi also strongly pitched for a pledge by the G-20 leaders to work for bringing digital transformation into the life of every human being in the next 10 years so that no person is deprived of the benefits of the new technologies. In a session on digital transformation, the prime minister also said that principle of "data for development" will be an integral part of the overall theme of India's upcoming G-20 Presidency.
The government wants the AI Summit to give it an early start in becoming part of any global body setting policies for the emerging technology.
Citing evolving needs and aspirations of the citizens, he said that the civil service must adapt to contemporary challenges to remain relevant.
Messaging platform WhatsApp on Wednesday said it has rolled out a pilot program across 500 villages across Karnataka and Maharashtra, aimed at empowering villagers with access to digital payments through 'payments on WhatsApp'. The announcement was made at Fuel For India 2021 - Meta's annual event in India. WhatsApp India Head Abhijit Bose said the pilot aims to effect a behavioral transformation to digital payments at the grassroots.
By democratising access to finance, empowering women and marginalised groups, and adapting to India's diverse regional landscapes, PMMY has helped fortify the country's grassroots growth engines, says Chief Economic Advisor to the Government of India, V Anantha Nageswaran.
To help you ride the growth trajectory of India's equity markets, we have curated the top five fastest-growing stocks that hold an impressive upside. If you're planning to build a sound portfolio and capitalize on the growth of these leading institutions, it's time you watch these stocks.
Nearly 665 million Indians or 45 per cent of the rural population did not have access to the internet as of 2023. Difficulty in understanding internet procedures, insufficient awareness of its benefits, and a lack of interest have emerged as the top reasons for a gap in internet penetration in rural India, according to a joint report by the Internet and Mobile Association of India (IAMAI) and Kantar. "The proficiency of English in rural India is very low. While we have content in Hindi, the internet is English-heavy.
'With a very stable technology with limited functionalities, a large network has spanned out.'
The Reserve Bank of India (RBI) brass, including its Governor Sanjay Malhotra, on Tuesday told a Parliamentary panel that it was "optimistic" about the impact of the US tariffs on the Indian economy and, in long-run, it could benefit the country due to dipping trade relations between the US and China.
State Bank of India (SBI) - the country's largest lender - has unveiled two new schemes to boost deposit mobilisation at a time when most banks are facing challenges in raising resources. The first is 'Har Ghar Lakhpati,' a pre-calculated recurring deposit (RD) scheme designed to help customers accumulate Rs 100,000 or multiples thereof and develop a savings habit.
RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
Infosys has launched a new array of AI-powered innovations and platforms for the 2025 Australian Open.
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
Shipments of personal computers grew 3.8 per cent on a year-on-year basis to 14.4 million driven by demand for gaming and AI-powered PCs, market research firm IDC said on Monday. IDC India, South Asia and ANZ, associate vice president for devices research, Navkendar Singh said the weakening rupee can lead to an increase in device costs, which can impact the price-sensitive SMB (small and medium businesses) and consumer segments but despite all challenges, the India PC market is most likely to witness a low single-digit growth in 2025.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
Prime Minister Narendra Modi will be announcing the nationwide rollout of Pradhan Mantri Digital Health Mission on September 27, Union health minister Mansukh Mandaviya informed on Thursday.
