Latest News, Updates & Breaking Headlines
The US Treasury is considering a $1 coin featuring President Donald Trump to mark the country’s 250th anniversary, a Treasury spokesperson said on Friday. In a post on X, Treasurer Brandon Beach shared a coin draft and said that the first drafts, photos shared by a user on X, honor America’s 250th Birthday. “No fake…
BENGALURU: OpenAI competitor Anthropic has appointed Rahul Patil as its chief technology officer. Patil joins the league of Indian-origin leaders at the helm of some of the world’s most influential technology companies.Patil succeeds co-founder Sam McCandlish, who is moving into the role of chief architect. Patil joins the AI company, which has developed Claude AI…
MUMBAI: RBI has proposed a revamp of rules on external commercial borrowings. The draft guidelines for 2025, the most extensive rejig since a Dec 2018 framework, replace uniform caps with limits tied to a borrower’s financial strength. Companies may raise up to $1 billion or 300% of their net worth (whichever is higher), while financial…
MUMBAI: RBI has recognised the Finance Industry Development Council (FIDC) as the official self-regulatory organisation (SRO) for NBFCs, aiming to tighten compliance, foster innovation, and boost sector development. The decision follows the June 19, 2024 press release inviting applications and the March 21 omnibus framework for SRO recognition. RBI received three applications, of which two…
Union finance minister Nirmala Sitharaman (ANI photo) NEW DELHI: Finance minister Nirmala Sitharaman said on Friday there will be limited impact of external shocks on India’s growth, due to strong domestic consumption and investment.“The Indian economy is resilient and continues to grow sustainably,” she said at the Kautilya Economic Conclave.The Indian economy is estimated to…
NEW DELHI: Govt’s policy tank Niti Aayog proposed a comprehensive designed framework to enhance tax certainty and predictability for foreign investors. It recommended the introduction of an optional, industry-specific presumptive taxation scheme for foreign firms.Releasing a working paper on Friday, it also backed broader legislative clarity, administrative efficiency, robust dispute resolution mechanisms, and strategic alignment…
Markets regulator Sebi has begun discussions on bringing family offices under its oversight, as the country’s billionaires become a growing force on exchanges, people familiar with the matter said. The discussions include asking family offices to disclose their entities, assets and investment returns for the first time, as well as a separate category to regulate…
NEW DELHI: The festive rush is there but car and two-wheeler companies, flush with orders after GST reduction and price cuts, are now facing a unique problem — ‘on time delivery’ of vehicles during festivals.While customers are seeking delivery around Dhanteras and Diwali, companies are finding it challenging to do so due to shortage of…
MUMBAI: RBI has released a draft circular revising its framework for lending to related parties, a move expected to significantly improve ease of doing business in the financial sector. By introducing scale-based materiality thresholds, the draft ensures that only sizeable loans to related parties require board or committee approval, replacing earlier blanket restrictions that often…
NEW DELHI: On the back of a fillip provided by a reduction in GST on 375 items, Indian consumers flocked to stores and car dealerships resulting in the highest Navratri sales in over a decade, govt officials said, citing industry data.They argued that the move lowered prices, helping families upgrade vehicles, buy white goods and…
