MUMBAI: Public sector banks must build forward-looking capital buffers aligned to their risk profile and growth ambitions rather than simply meeting regulatory minimums, Reserve Bank of India deputy governor Swaminathan J told public sector bankers. The deputy governor said that that there is a need for PSBs to protect their resilience at the time when…
US President Donald Trump continued his series of tariffs on Monday (local time), with the latest move impacting lumber and home renovation products from October 14.The White House said a 10% global tariff will be applied to softwood lumber imports. At the same time, upholstered furniture will face a 25% global tariff, rising to 30%…
The government on Tuesday extended fiscal incentives under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for six more months, ensuring benefits for exporters till March 31, 2026. The scheme, which ended on September 30, reimburses taxes, duties, and levies incurred during manufacturing and distribution that are not refunded under other central,…
Bank credit to industry grew at a slower pace of 6.5% in August 2025, compared to 9.7% in the same month last year, according to Reserve Bank of India (RBI) data on sectoral deployment of credit released on Tuesday.The data, compiled from 41 scheduled commercial banks (SCBs) that account for nearly 95% of total non-food…
US consumer confidence fell sharply in September as Americans’ concerns over inflation and a weakening job market deepened, according to the Conference Board’s latest survey. The consumer confidence index dropped 3.6 points to 94.2, down from August’s 97.8, marking the lowest reading since April, when President Donald Trump implemented sweeping tariff policies.The index measuring Americans’…
The India-European Free Trade Association (EFTA) free trade agreement, coming into effect from Wednesday, will make several Swiss products, including wines, chocolates, apparel, and watches, cheaper in the Indian market.The agreement, signed in March 2024 under the Trade and Economic Partnership Agreement (TEPA), also opens greater market access for India’s labour-intensive exports such as tea,…
MUMBAI: Airbus and Air India inaugurated a world-class pilot training centre in Gurugram, Haryana, said the airline in a press statement issued on Tuesday. “This benchmark facility will train more than 5,000 new pilots over the next decade to support the exponential growth of commercial aviation in India,” it said. The 50:50 joint venture facility…
India is strengthening its focus on self-reliance and building resilient supply chains to safeguard the country against global disruptions and the weaponisation of trade, Commerce and Industry Minister Piyush Goyal said on Tuesday.Speaking at the curtain-raiser of the CII Partnership Summit to be held in November at Visakhapatnam, Goyal stressed that India’s approach rests on…
Russian Foreign Minister Sergey Lavrov on Tuesday defended India’s decision to continue buying Russian oil, accusing the United States of trying to eliminate competition using the Ukraine conflict as a pretext. “Our Indian counterparts have already reacted to [this pressure] to stop buying oil from Russia. They proceed from the assumption [that] if the United…
US equities edged cautiously on Tuesday as Wall Street approached the end of another strong month, with investors balancing optimism over corporate earnings against economic uncertainty and the potential for a government shutdown.The S&P 500 slipped 0.2% in early trading, while the Dow Jones Industrial Average fell 27 points, or 0.1%. The Nasdaq composite was…