Indian banks are seeing operational risks tilt from loan accounts to deposit accounts as the rise in mule accounts and money laundering forces stricter scrutiny of customers. Senior bankers said that deposit mobilisation, once considered low-risk, has now become a major operational challenge.“Large amounts of operational risks are coming from liability accounts which need to…
The sugar industry on Tuesday welcomed the Centre’s decision to remove quantitative restrictions on ethanol production from sugar for the 2025-26 Ethanol Supply Year (ESY), calling it a major boost that will ensure timely payments to farmers and help stabilise sugar prices.The food ministry on Monday issued a notification lifting the 4 million tonne cap…
First indigenous chip presented to PM Modi Union IT minister Ashwini Vaishnaw on Tuesday presented the first “Made in India” chip to Prime Minister Narendra Modi at the inauguration of Semicon India 2025 in Delhi. The minister handed over the Vikram 32-bit processor along with test chips of four approved projects, describing the milestone as…
States are set to emerge as “net gainers” under the planned Goods and Services Tax (GST) rate overhaul, with collections including devolution likely to cross Rs 14.10 lakh crore this fiscal, SBI Research has projected in its latest report.The study underlined that earlier rounds of rate cuts in 2018 and 2019 triggered a short-term dip…
Wall Street slid sharply on Tuesday as rising Treasury yields and political uncertainty dragged US stocks further from their recent record highs. The S&P 500 dropped 1.4% in what could be its worst day in a month, the Dow Jones Industrial Average fell 516 points or 1.1%, and the Nasdaq Composite slid 1.7% by mid-day,…
Russia on Tuesday said it had signed a legally binding agreement with China to build the Power of Siberia 2 gas pipeline, a project aimed at further strengthening energy and strategic ties between the two countries. The pact was signed during President Vladimir Putin’ visit to Beijing, reported AFP.The planned pipeline, which would run through…
Sweden’s “buy now, pay later” financial services firm Klarna said on Tuesday it aims to raise $1.27 billion through an initial public offering in New York, setting a price band of $35 to $37 a share, after an earlier plan was delayed due to market volatility.Klarna had first announced plans for an IPO in November…
The Indian rupee traded near record lows against the US dollar on Tuesday, slipping to 88.15 after closing at an all-time low of 88.18 a day earlier. The depreciation has provided exporters with better price competitiveness but raised concerns for import-heavy sectors.Exporters said the fall in the rupee presents a mixed picture. “On one hand,…
Jaguar Land Rover, the Tata Motors-owned luxury automaker, said on Tuesday its global retail and production operations have been “severely disrupted” following a cyberattack, forcing the company to shut down systems as a precaution.The UK-based company said it took immediate steps to shut down its systems in a bid to limit the fallout, AFP reported….
Sugar stocks turned into a sweet spot for investors on Tuesday as shares of leading mills surged sharply, buoyed by the government’s decision to allow ethanol production without any quantitative restrictions in the 2025-26 marketing year beginning November.Rajshree Sugars & Chemicals hit the upper circuit with a 20 per cent jump on the BSE, while…