MUMBAI: RBI has taken a major step to ensure that grieving families immediately get access to funds and valuables of their deceased relatives. Effective Jan 1, 2026, banks that fail to settle claims related to deceased customers within 15 days of receiving complete documentation must pay up. For delayed payouts on deposits, banks will owe…
NEW DELHI: For all the noise over India being the tariff king, the US effective tariff rate for all countries is now estimated at 17%, Fitch Ratings has estimated after the latest reciprocal tariff announcements. The effective rate that Indian goods will pay to enter US before Aug 27 was estimated at 20.8%, including exempted…
NEW DELHI: The potential impact of additional 25% tariff announced by US President Donald Trump on goods imports from India could be larger for economic growth than previously estimated, if they are implemented after Aug 27 deadline, economists said.Estimates showed initial 25% tariff imposed on Indian exports would have a muted impact on growth in…
NEW DELHI: Internal migration to urban cities is driving up both salaries and housing demand, a survey has shown.Relocating has led to near doubling of salaries in certain white-collar segments related to IT, finance, and healthcare. It is also true for blue-collar workers, such as domestic helps and factory employees, who reported a 1.6 to…
MUMBAI: In one of the biggest block deals this year, Indian Continent Investment, a promoter group entity of Bharti Airtel is selling a 0.8% stake in the telecom giant for about Rs 9,310 crore (over $1 billion). The deal is set to be executed through one or more block deals on Friday and is managed…
MUMBAI: RBI has granted its first universal bank approval in a decade, giving AU Small Finance Bank (SFB) in-principle approval to transition from an SFB to a universal bank-the first such nod since Bandhan and IDFC in 2015.Founded in 1996 by Sanjay Agarwal as AU Financiers, an NBFC in Jaipur, AU became an SFB in…
BENGALURU: Titan Company reported a 52.5% year-on-year increase in net profit to Rs 1,091 crore for June quarter, backed by strong performances in jewellery and watches businesses, despite elevated gold prices. The Tata group firm’s revenue rose 24% to Rs 16,628 crore in the same period. Sequentially, it rose to about 11% from Rs 15,032…
HYDERABAD: Unending tariff wars coupled with weaker-than-expected US macroeconomic data and a depreciating rupee, fuelled gold’s rise to record highs in the Indian market on Thursday. The yellow metal crossed the Rs 1.02 lakh/10 gm mark to hit a high of Rs 1,02,155 on MCX and was quoting at all-time highs of Rs 1,02,700 and…
MUMBAI/NEW DELHI:: After a knee-jerk reaction to US President Donald Trump’s latest tantrums related to tariffs on Indian exports to the world’s largest economy, late buying helped Dalal Street close slightly higher, indicating low impact of the tariffs’ effects on domestic stocks and investments. After sliding over 700 points, sensex recovered all its lost ground…
NEW DELHI: Biocon on Thursday reported a 95 per cent decrease in its consolidated net profit at Rs 31 crore in the June quarter. The Bengaluru-based firm posted a net profit of Rs 660 crore in the April-June quarter of the last fiscal. Total revenue declined to Rs 4,022 crore in the June quarter as…
